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 orders, and cash back at Neo partners.
You also earn points on purchases made elsewhere and can redeem your points when you shop at Hudson’s Bay stores and thebay.com.
This Hudson’s Bay Mastercard review covers its benefits, downsides, and alternative credit cards.
Hudson’s Bay Mastercard – At a Glance
Rewards: Earn up to 4 points per $1 at Hudson’s Bay stores and 2 points per $1 elsewhere.
Welcome offer: 15% cashback on first-day purchases.
Interest rates: 19.99%-24.99% for purchases and 21.99%-26.99% for cash advances.
Annual fee: $0
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.
Cardholders earn 2 points per $1 spent elsewhere.
1,000 Hudson’s Bay Rewards points are equivalent to $5. You can also redeem your points for Air Miles reward miles or donate them to charity.
Hudson’s Bay Mastercard cardholders enjoy shopping privileges at affiliated stores, including 90-day returns and free shipping on purchases when they meet the minimum purchase amount.
New cardholders get a 15% cash back offer on eligible first-day purchases at Hudson’s Bay stores and online.
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 earn up to 2% cash back at thousands of Neo Financial partners and retailers.
Cash back earned can be redeemed towards your credit balance.
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 following:
- 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 or thebay.com in a calendar year.
| Hudson’s Bay Rewards | Hudson’s Bay Rewards Plus | Hudson’s Bay Rewards VIP | |
| Annual net purchases | $0 – $399.99 | Between $400 and $1,199.99 | $1,200 and more |
| Points per $1 using Hudson’s Bay Rewards Card | 1 | 1.5 | 2 |
| Points per $1 using Hudson’s Bay Mastercard | 2 | 3 | 4 |
| Points earned per $1 spent elsewhere | 2 | 2 | 2 |
The tiers are reset every January 1st to the base level reward, and you can redeem your points online when shopping at thebay.com or in-store at a rate of 1,000 points per $5.
Hudson’s Bay Rewards points can also be converted to Air Miles or RBC Rewards points.
Downsides of the Hudson’s Bay Mastercard
This card does not offer insurance benefits, including basic coverage such as purchase protection or an extended warranty. Here are some no-fee cash back credit cards that offer these privileges.
The HBC Credit Card’s rewards points can only be used to pay for purchases at one of their stores or redeemed for Air Miles.
Hudson’s Bay Mastercard vs. Hudson’s Bay Credit Card
The Hudson’s Bay Credit Card is no longer offered.
The two ways to earn money when shopping at Hudson’s Bay involve using its regular Rewards membership card or the Hudson’s Bay Mastercard, which is powered by a Neo card.
Neo Mastercard
Rewards: Average of 5% cash back at 12,000+ partners.
Welcome offer: $25 welcome cash bonus.
Interest rates: 19.99% – 29.99% on purchases; 22.99% – 31.99% for cash advances.
Annual fee: $0 to $4.99 monthly
Hudson’s Bay Mastercard Alternatives
Alternatives you can consider include:
1. KOHO Mastercard: One of the best alternatives to the Hudson’s Bay Mastercard is the KOHO prepaid Mastercard. It offers up to 5% cash back on purchases and also pays you savings interest on your balance.
KOHO Prepaid Mastercard
$40 welcome bonus after first purchase (use GETCASH promo code during sign-up)
$0 monthly fee*
Earn up to 5% unlimited cash back
Get up to 4% savings interest on your balance
Unlimited Interac e-Transfers and debit transactions
Low cost international money transfers
Free budgeting app and access to credit building
2. EQ Bank Mastercard: This card offers 0.50% unlimited cash back on all purchases. You also earn a high interest rate on your balance.
It has no annual fee, waives FX fees, and offers free ATMs across Canada.
EQ Bank Card
Rewards: Earn 0.50% cash back on all purchases and up to 3.50% savings interest on your entire balance.
Perks: Free ATM transactions in Canada, no foreign currency transaction fees abroad, and unlimited transactions.
Interest rate fee: 0%
Annual fee: $0
If you are interested in a credit card issued by Capital One, here is a review of Capital One Credit Cards.
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 a no-fee card with some insurance benefits.
Hudson’s Bay Mastercard FAQs
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.
Neo Financial is a new online bank (neobank) in Canada. It offers a credit card and high-interest savings account.
You can use the card anywhere that Mastercard is accepted.
Hudson's Bay Mastercard Review
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Annual fee
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Insurance
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Rewards
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Eligibility
Overall
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
- Earn cash back at Neo partners
- No annual fee
Cons
- Limited options for redeeming your points
- Has no insurance coverage
When I added Neo as a payee online RBC, it came up as “Owners of Strata Plan eps2532”. I’m very confused. Off to the bank I go!
@Holly: Yes, that’s weird.
I signed up for a Hudson Bay MasterCard in February and I still haven’t received it . How long does it take
@Debra: A few weeks from my experience.
How can I make a payment on my NEO Hudsons Bay account? I live in Canada.
@Betty: You can pay your Hudson’s Bay Mastercard powered by Neo Financial through online banking by adding Neo Financial as a payee or call your financial institution to help you set this up.
Please add to the cons: 1) this card will not link to your Quickbooks software, 2) they won’t let you set up auto-pay unless you create a neo bank account and pay from that account (defeating the whole purpose of auto-pay), 3) lack of customer service