Hudson Bay, one of Canada’s largest retail business groups, offers its customers a new MasterCard that allows shoppers to earn points toward their next purchase. Holders enjoy a number of benefits such as no annual fee, cash back, no caps on earnings, and the fact that this card is affordable. Powered by Neo Financial, their MasterCard offers almost identical benefits to the existing Capital One card, along with some new incentives. One such is earning cash back at retailers partnering with Neo.
Hudson Bay’s MasterCard has no annual fee and no inactivity or overlimit fees. If you choose not to use it, you can just keep it in your pocket without any financial repercussions. It has a fairly reasonable interest rate and a grace period of at least 21 days.
- Interest rate: 19.99 – 24.99 percent
- Cash advance rate: 21.99 – 26.99 percent
- Annual fee: none
The interest rate you are offered depends on your credit profile, assessment of your card application, and the province or territory where you reside.
If you are looking to apply, the three ways are via their web portal, in-store, and the Neo app which you can download on your Android or Apple device. You will need to apply in-store if you don’t have a mobile phone.
And if you are an existing cardholder, the new MasterCard by Neo Financial is replacing your Hudson Bay card. This means that you have to reapply to continue enjoying the benefits of your existing card. This will not affect your points balance.
Card Perks and Rewards
This card by Hudson Bay offers multiple benefits, the major one being its generous rewards program. The card earns 2 points per $1 on purchases outside Hudson Bay stores, including Neo partnering retailers such as coffee shops, gyms, restaurants, grocery stores, and gas stations. The card also earns 4 points per $1 when you shop at thebay.com or in-store. You are free to redeem your points at any time and will get free shipping on orders over $45. With no minimal threshold, you can cash out whenever you want. New cardholders also enjoy a $25 welcome offer and 15 percent off on their first-day purchases.
As a Hudson Bay member, you are offered access to exclusive promotions and events and special events. There is also an option to convert and use your points toward another loyalty program that Hudson Bay is partnering with. You can covert and use points toward participating programs such as AskingCanadians, Petro-Points, Air Miles, and RBC Rewards. Points can be converted into air miles at a rate of 10 bonus points for 1 air mile. Additionally, you can donate your points to a charity that they are partnering with or send points to another member as a gift.
Note that customers earn cash back on purchase transactions only. You will not get money back on cash equivalent transactions, interest, fees charged by Neo, and charges that are prepaid, billed, or processed before enrollment.
Another perk for users is that they can use the Neo app to manage and review all card transactions. The app allows you to manage and keep track of your expenses on the go. You can use it to transfer or withdraw money, make deposits, and pay bills. There is no minimum deposit requirement and no fees. You can replace or freeze your card, manage the settings, get notifications and alerts in real time, view your rewards, browse rewards offered by partnering retailers, and a lot more. You can also check your points balance on your receipt or in your online account. Keep in mind that your points will expire if your account has been inactive for 24 months. You cannot buy points to use toward a purchase. To redeem points in-store, you will need to either show your rewards card or your ID and provide staff with your email address and phone number.
Major competitors are the Triangle MasterCard to shop and earn points at Atmosphere, Sport Chek, and Canadian Tire and PC Financial World Elite, offering rewards points at Esso, PC Travel, and Loblaws stores.