Hudson’s Bay Mastercard Review

The new Hudson’s Bay Mastercard is co-branded with Neo Financial after Capital One announced it was ending its relationship with Hudson’s Bay Company (HBC) and Costco.

Similar to the card it is replacing, the new Hudson’s Bay Mastercard by Neo Financial will offer shoppers double the points at HBC, free shipping on some orders, and cash back at Neo partners.

You also earn points on purchases made elsewhere and can redeem your points for Hudson’s Bay gift cards or convert them to Air Miles Reward Miles.

Hudson’s Bay gift cards can be used to pay for purchases at Hudson’s Bay stores or online at thebay.com and at Home Outfitters.

This Hudson’s Bay Mastercard review covers its benefits, downsides, and alternative credit cards.

Hudson’s Bay Mastercard – At a Glance

Rewards: Earn 1.25% cash back at Walmart and 1% cash back everywhere else.

Welcome offer: 15% cashback on first-day purchases plus a $25 welcome bonus.

Interest rates: 19.99% for purchases and 21.99% for cash advances.

Annual fee: $0

Min. income required: N/A

Related: 2% Cash Back Tangerine World Mastercard

Hudson’s Bay Mastercard Benefits

The Hudson’s Bay Mastercard does not have an annual fee.

The main benefit of this card is that you double up your earning rate when you shop in the store. Depending on your Hudson’s Bay Rewards tier, you can earn up to 4 points per $1.

You need to present your Hudson’s Bay Rewards Card and pay with your Mastercard for points to accumulate when shopping at Hudson’s Bay and thebay.com.

Cardholders earn 2 points per $1 spent elsewhere and get a 25% bonus twice a year on points earned on these purchases.

2,000 Hudson’s Bay rewards points are equivalent to a $10 gift card. You can also redeem your points for Air Miles reward miles or donate it to charity.

Hudson’s Bay Mastercard cardholders enjoy shopping privileges at affiliated stores including 90-day returns and free shipping on purchases when you meet the minimum purchase amount.

Free shipping is available on orders of $45+ or $29+ on beauty orders (before taxes) when you pay with your card. You can use the promo code NEO2021 to take advantage of this offer.

New cardholders also get a 15% cash back offer on eligible first-day purchases at Hudson’s Bay stores and online, plus a $25 welcome bonus (5,000 points).

When you shop at thebay.com, you get advance notice of savings available at various exclusive events throughout the year.

In addition to the standard rewards, you also earn up to 2% cash back at thousands of Neo Financial partners and retailers.

You can apply for the Hudson’s Bay Mastercard online, at any Hudson’s Bay store, or through the Neo Financial app.

Hudson’s Bay Rewards

The Hudson’s Bay Rewards program is free to join and has three tiers including the:

  • Hudson’s Bay Rewards
  • Hudson’s Bay Rewards Plus,
  • Hudson’s Bay Rewards VIP

To qualify for the upper tiers, you need to meet a minimum annual spend as per below and make at least two separate visits to Hudson’s Bay, thebay.com, or Home Outfitters in a calendar year.

Hudson’s Bay Rewards
Hudson’s Bay Rewards Plus
Hudson’s Bay Rewards VIP
Annual net purchases$0 – $399.99Between $400 and $1,199.99$1,200 and more
Points per $1 using Hudson’s Bay Rewards Card11.52
Points per $1 using Hudson’s Bay Mastercard234
Points earned per $1 spent elsewhere222

The tiers are reset every January 1st to the base level reward and you can redeem your points for Hudson’s Bay gift cards at a rate of 2,000 points per $10.

Available gift card denominations are $10 (only in-store), $25, $50, and $100 which means you can start redeeming for gift cards when you have accumulated at least 2,000 points.

Hudson’s Bay rewards points can also be redeemed for Air Miles.

Downsides

This card does not offer any insurance benefit including basic coverage such as purchase protection or extended warranty. Here are some no-fee cash back credit cards that offer these privileges.

The Hudson’s Bay Mastercard’s rewards points can only be used to pay for purchases at one of their stores or redeemed for Air Miles.

If you are looking for real cash back you can spend anywhere or use to pay down your statement balance, you will be disappointed.

Hudson’s Bay Mastercard vs. Hudson’s Bay Credit Card

HBC also has a Hudson’s Bay Credit Card that’s different from the Hudson’s Bay Mastercard. This card is only accepted at Hudson’s Bay and thebay.com and cannot be used to pay for purchases elsewhere.

Similar to the Mastercard, it also doubles your points up to 4 points per $1 spent.

The Hudson’s Bay Credit Card does not have an annual fee, however, its annual interest rate is pretty high at 29.9%.

Conclusion

If you are a frequent shopper at the Hudson’s Bay Company, you could maximize your points using the Hudson’s Bay Mastercard from Neo Financial.

It’s not very competitive if you are looking for a credit card that earns cash back rewards you can apply to any purchase, or if you want a no-fee card with some insurance benefits.

Alternatives you can consider include:

Tangerine Money-Back Credit Card: This card offers up to 2% unlimited cash back on up to three categories of spending. It has no annual fee and you get free purchase protection and extended warranty.

Get more details in this Tangerine Money-Back Card review.

SimplyCash Card from American Express: This card offers 1.25% cash back on all purchases and has no annual fees. Learn more in this review.

If you are interested in a credit card issued by Capital One, here is a review of Capital One Credit Cards.

FAQs

What happened to the Hudson’s Bay Mastercard by Capital One?

The Neo Hudson’s Bay Mastercard is replacing the former HBC Mastercard and you will need to re-apply if you want the new Hudson’s Bay credit card.

What is Neo Financial?

Neo Financial is a new online bank (neobank) in Canada. It offers a credit card and high-interest savings account.

Where can I use the Hudson’s Bay Mastercard powered by Neo?

You can use the card anywhere that Mastercard is accepted.

Hudson's Bay Mastercard Review
4.2

Summary

The new Hudson’s Bay Mastercard is issued by Neo Financial and doubles your Hudson’s Bay Rewards points. This Hudson’s Bay Mastercard review covers what you need to know.

Pros

  • Get up to 4 points per $1
  • $25 welcome bonus
  • Earn cash back at Neo partners 

Cons

  • Limited options for redeeming your points
  • Has no insurance coverage
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Author

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Enoch Omololu

Enoch Omololu is a personal finance expert and a veterinarian. He has a master’s degree in Finance and Investment Management from the University of Aberdeen Business School (Scotland) and has completed several courses and certificates in finance, including the Canadian Securities Course. He also has an MSc. in Agricultural Economics from the University of Manitoba and a Doctor of Veterinary Medicine degree from the University of Ibadan. Enoch has a passion for helping others win with their personal finances and has been writing about money matters for over a decade. His writing has been featured or quoted in the Toronto Star, The Globe and Mail, MSN Money, Financial Post, Winnipeg Free Press, CPA Canada, Credit Canada, Wealthsimple, and many other personal finance publications.

His top investment tools include Wealthsimple and Questrade. He earns cash back on purchases using KOHO and monitors his credit score for free using Borrowell.

1 thought on “Hudson’s Bay Mastercard Review”

  1. This company, while it has offices in Canada, Capital One is a US Banking outfit and is run out of the United States and has no connection with Canadian Banks. After being with the company for many years and always paying my bills in full every month, when I needed to increase my limit by a measly $500 they couldn’t do it, because the US offices don’t give a damn about their Canadian clients. The Canadian management cannot do a thing in terms of credit limits without the US bank’s permission. And this is only one of the many problems I experienced with this company over the years. And mistakes were always in their favour. Be warned – stay away from Capital One and stick with a credit card company that is tied to a Canadian Bank. Too bad Hudson’s Bay didn’t pick a credit card company that is associated with a Canadian Bank.his company, while it has offices in Canada, Capital One is a US Banking outfit and is run out of the United States and has no connection with Canadian Banks. After being with the company for many years and always paying my bills in full every month, when I needed to increase my limit by a measly $500 they couldn’t do it, because the US offices don’t give a damn about their Canadian clients. The Canadian management cannot do a thing in terms of credit limits without the US bank’s permission. And this is only one of the many problems I experienced with this company over the years. And mistakes were always in their favour. Be warned – stay away from Capital One and stick with a credit card company that is tied to a Canadian Bank. Too bad Hudson’s Bay didn’t pick a credit card company that is associated with a Canadian Bank.

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