Quick overview of the Hudson’s Bay Mastercard by Neo Financial
The Hudson's Bay Mastercard, offered by Neo Financial™, is a retail credit card with no annual fee. While it prioritizes rewards for purchases made with the Hudson's Bay Company (HBC), it also provides the flexibility to shop anywhere Mastercard is accepted, worldwide.
Who can benefit from the Hudson's Bay Mastercard?
The Hudson's Bay Mastercard is ideal for anyone who frequently shops at HBC, Saks Fifth Avenue or anywhere else they shop with the historic Canadian business.
Hudson's Bay is a retail icon in Canada, and just so happens to be the oldest incorporated joint-stock merchandising company in the English-speaking world — dating back to 1670. Today, the HBC brand is visible in nearly 250 locations across Canada and the US, including American luxury retailer Saks Fifth Avenue.
However, others may find lesser everyday value with the card, particularly because of the complete lack of built-in travel insurance protections.
Pros and cons
Pros
-
No annual fee
-
Redeem Rewards points instantly
-
Earn up to 4 Rewards points on almost every $1 you spend
-
Get everyday cash back at thousands of local Neo Partners - like major gas and grocery stores, travel and more
-
Earn Rewards points outside of Hudson’s Bay stores*
Cons
-
Points can only be redeemed at Hudson’s Bay stores³ and thebay.com
-
High APR
-
Best for Hudson's Bay frequent shoppers for maximum rewards value
Hudson’s Bay Mastercard welcome bonus
The Hudson’s Bay Mastercard does not currently offer a welcome bonus for new accounts applying online. However, occasionally the company offers a welcome bonus of 15.00% cash back on all purchases made on the first day when applying for a card in-store. But while the card doesn’t include a sign-up bonus, it does skip the annual fee, which is always a pleasant surprise.
How to earn rewards with the HBC Mastercard
The Hudson’s Bay Mastercard earns the following Hudson's Bay Rewards points on purchases:
- Earn up to 4 Rewards points on almost every $1 you spend in Hudson's Bay stores* and at thebay.com.
- Earn up to 4 Rewards points on almost every $1 you spend in Hudson's Bay stores* and at thebay.com.
Earning quadruple points inside the Bay ecosystem is really great for those who love Hudson’s Bay. And since the company stocks pretty much everything, including apparel, accessories, shoes, beauty products and home merchandise, there’s always something new to find.
The card also earns 2.00x on “almost every $1 you spend outside of Hudson’s Bay stores,” but what does that mean? Essentially, you’ll earn reward points on most purchases, with the exception of things like cash advances, lottery tickets, gaming or similar transactions.
Hudson’s Bay Rewards points have an approximate value of $0.05 per point (or half a cent per point) and expire after 24 months of inactivity on the account. Fortunately, keeping your account open and active is as easy as making a purchase with Hudson’s Bay (or using the HBC Mastercard to make a purchase anywhere Mastercard is accepted worldwide).
Earn additional cash back with Neo partners
The Hudson’s Bay Mastercard comes with another way to earn rewards courtesy of Neo:
- Earn an average of 2% cash back* at thousands of local and national Neo Financial™ partners and businesses; think major gas and grocery stores, restaurants, gyms, coffee shops and more.
That cash back is automatically applied as a statement credit towards your HBC Mastercard balance due.
How to redeem rewards
Redeeming rewards is as simple as earning them. Rewards are redeemable instantly at the check out register of any Hudson’s Bay location or online at thebay.com. There’s technically no minimum required to redeem points, but you’ll need at least 1,000 points first, since that’s the interval required for redeeming points.
Key benefits of the Hudson’s Bay Mastercard
No annual fee
The Hudson's Bay Mastercard doesn’t charge an annual fee. That lack of an annual fee makes the Hudson's Bay Mastercard an attractive option for those who want the flexibility (and rewards) of a credit card without a membership fee.
Double the ways to earn
The HBC Mastercard is primarily designed to earn rewards in the Hudson’s Bay Rewards program, earning up to 4.00x on eligible purchases at Hudson’s Bay. But the card also earns cash back with select Neo partners. That combination of cash back and points means you can earn points towards your next big-ticket purchase at Hudson’s Bay while getting extra cash back with select purchases that you can use towards your card statement. That’s double the rewards!
Flexibility
Neo Financial™ hails its credit cards as the “smartest in your wallet,” and that boastfulness is based on its add-on, “Perks.” Neo Perks are add-on boosts designed to let you create “your ultimate rewards card.” These features let you add travel insurance (more on that below), mobile phone protection, additional cash back with partners and more, starting from $1.99 per month.
Hudson's Bay Mastercard insurance coverage
The HBC Mastercard provides essential insurance and purchase protections (but little else), including:
- Purchase protection: 90 days
- Extended warranty: 1y ear
Additional insurance is available through the Neo Travel Perk. These optional extra costs $4.99 per month and provides you with more expansive insurance protections, including:
- Car rental: $65000
- Emergency medical: $1 million (14 days)
- Flight delay: $250
- Delayed baggage: $1000.00
- Hotel burglary: $1000.00
- Trip cancellation: $1000
Extra benefits of the Hudson’s Bay Card
Neo Perks
One of the frustrating things about the card is the need to purchase add-on insurance through the Neo Travel Perk — something found for free with many other cards. Additionally, there are more optional extras than just insurance add-ons. Neo Financial™ provides four distinct Perks. Here’s what you can expect from the other three:
- Mind and body ($9.99/month): Enjoy a complimentary subscription to Headspace Plus, one free gym class per month, FitOn PRO workouts including unlimited access to premium music and personalized meal plans and 1.25x more cash back at gyms, fitness classes, yoga studios, recreational centres, vitamin and supplement suppliers and wellness practitioners
- Food and drink ($1.99/month): Earn 1.25x more cash back at partner restaurants, cafes and bars from food delivery partners
- Mobile and personal ($9.99/month): Up to $1,000 in mobile phone insurance per year, $1 million in fraud, ransomware and social engineering coverage via CyberScout powered by TransUnion and a Dashlane Premium subscription for secure password management
Neo and HBC argue that making insurance an optional extra is essential for keeping costs down for cardholders, and I can somewhat see the point. Not everyone needs travel accident or car rental insurance with a credit card, so why not strip it away and make the card a no annual fee offer?
Other features
- Contactless payment technology
- Access to the HBC and Neo mobile apps (available through Apple Pay or Google Pay™)
How does the Hudson’s Bay Mastercard compare?
Amazon.ca Rewards Mastercard
2.5
5% Back
Welcome offerFair
Suggested credit scoreGet 5% back at Amazon.ca, Whole Foods Market stores in Canada, grocery stores and restaurants. Valid for the first 6 months, on your first $3,000 in eligible purchases††.
Pros
-
No annual fee
-
Good returns on Amazon.ca, Whole Foods Market stores and foreign currency transactions
-
Competitive welcome bonus
-
Serviceable for regular Costco and No Frills shoppers
Cons
-
Earning maximum rewards requires paying for Amazon Prime
-
Other cards have higher earn rates on non-Amazon.ca purchases
-
Rewards points are only redeemable for Amazon.ca gift cards
-
Relatively few Whole Foods locations in Canada
Eligibility
Fair
Recommended Credit Score
$0
Required Annual Personal Income
$0
Required Annual Household Income
Recommended Credit Score
Fair
Required Annual Personal Income
$0
Required Annual Household Income
$0
2.5%
Earn 2.5% on eligible purchases at Amazon.ca and Whole Foods Market stores for eligible Prime members (1.5% back for non-members)‡
2.5%
Get 2.5% back on eligible foreign currency transactions for eligible Prime members (1% back for non-members)‡
1%
Get 1% back on eligible purchases everywhere else Mastercard is accepted.‡
Earn 2.5% on eligible purchases at Amazon.ca and Whole Foods Market stores for eligible Prime members (1.5% back for non-members)‡
2.5%
Get 2.5% back on eligible foreign currency transactions for eligible Prime members (1% back for non-members)‡
2.5%
Get 1% back on eligible purchases everywhere else Mastercard is accepted.‡
1%
19.99%
Purchase APR
22.99%
Balance Transfer Rate
22.99%
Cash Advance APR
$0
Annual Fee No annual fee
1.50%
Foreign Transaction Fee
Purchase APR
19.99%
Balance Transfer Rate
22.99%
Cash Advance APR
22.99%
Annual Fee
$0
Foreign Transaction Fee
1.50%
Pros
-
No annual fee
-
Good returns on Amazon.ca, Whole Foods Market stores and foreign currency transactions
-
Competitive welcome bonus
-
Serviceable for regular Costco and No Frills shoppers
Cons
-
Earning maximum rewards requires paying for Amazon Prime
-
Other cards have higher earn rates on non-Amazon.ca purchases
-
Rewards points are only redeemable for Amazon.ca gift cards
-
Relatively few Whole Foods locations in Canada
Eligibility
Fair
Recommended Credit Score
$0
Required Annual Personal Income
$0
Required Annual Household Income
Recommended Credit Score
Fair
Required Annual Personal Income
$0
Required Annual Household Income
$0
2.5%
Earn 2.5% on eligible purchases at Amazon.ca and Whole Foods Market stores for eligible Prime members (1.5% back for non-members)‡
2.5%
Get 2.5% back on eligible foreign currency transactions for eligible Prime members (1% back for non-members)‡
1%
Get 1% back on eligible purchases everywhere else Mastercard is accepted.‡
Earn 2.5% on eligible purchases at Amazon.ca and Whole Foods Market stores for eligible Prime members (1.5% back for non-members)‡
2.5%
Get 2.5% back on eligible foreign currency transactions for eligible Prime members (1% back for non-members)‡
2.5%
Get 1% back on eligible purchases everywhere else Mastercard is accepted.‡
1%
19.99%
Purchase APR
22.99%
Balance Transfer Rate
22.99%
Cash Advance APR
$0
Annual Fee No annual fee
1.50%
Foreign Transaction Fee
Purchase APR
19.99%
Balance Transfer Rate
22.99%
Cash Advance APR
22.99%
Annual Fee
$0
Foreign Transaction Fee
1.50%
The Amazon Rewards Mastercard from MBNA is a credit card that offers rewards on everyday purchases. With a wide range of items available, Amazon is one of the few retailers in Canada that can match the sheer volume of products found at HBC.
The MBNA Amazon.ca Rewards Mastercard offers its best rewards to Prime members, with non-Prime members earning almost half the rewards. However, this can be a drawback for those who desire great everyday rewards but are not willing to pay the $119+ annual fee for an Amazon Prime membership.
Walmart Rewards™ Mastercard®
3.0
Good
Suggested credit scoreto receive the latest news, tips and offers by email
Pros
-
No annual fee
-
Exclusive offers for cardholders
-
Earn up to 1.25% Walmart Reward Dollars™ on everyday spending
-
Installment plan option when you spend $199.99 or more, in-store or at Walmart.ca - spread your payment over six installments
Cons
-
Rewards can only be redeemed at Walmart
-
Higher APR than other low-rate cards on the market
-
Installment plant option has a 4% fee and other terms & conditions apply.°
Eligibility
Good
Recommended Credit Score
$12,000
Required Annual Personal Income
Recommended Credit Score
Good
Required Annual Personal Income
$12,000
1.25%
back in Walmart Rewards on all purchases made in-store or online at Walmart
1%
back in Walmart Rewards at any gas station
1%
everywhere else
back in Walmart Rewards on all purchases made in-store or online at Walmart
1.25%
back in Walmart Rewards at any gas station
1%
everywhere else
1%
20.89% - 26.99%
Variable APR 20.89 for Quebec residents
22.97% - 27.99%
Cash Advance APR 21.97% for Quebec residents
$0
Annual Fee no annual fee
2.50%
Foreign Transaction Fee
Variable APR
20.89% - 26.99%
Cash Advance APR
22.97% - 27.99%
Annual Fee
$0
Foreign Transaction Fee
2.50%
Pros
-
No annual fee
-
Exclusive offers for cardholders
-
Earn up to 1.25% Walmart Reward Dollars™ on everyday spending
-
Installment plan option when you spend $199.99 or more, in-store or at Walmart.ca - spread your payment over six installments
Cons
-
Rewards can only be redeemed at Walmart
-
Higher APR than other low-rate cards on the market
-
Installment plant option has a 4% fee and other terms & conditions apply.°
Eligibility
Good
Recommended Credit Score
$12,000
Required Annual Personal Income
Recommended Credit Score
Good
Required Annual Personal Income
$12,000
1.25%
back in Walmart Rewards on all purchases made in-store or online at Walmart
1%
back in Walmart Rewards at any gas station
1%
everywhere else
back in Walmart Rewards on all purchases made in-store or online at Walmart
1.25%
back in Walmart Rewards at any gas station
1%
everywhere else
1%
20.89% - 26.99%
Variable APR 20.89 for Quebec residents
22.97% - 27.99%
Cash Advance APR 21.97% for Quebec residents
$0
Annual Fee no annual fee
2.50%
Foreign Transaction Fee
Variable APR
20.89% - 26.99%
Cash Advance APR
22.97% - 27.99%
Annual Fee
$0
Foreign Transaction Fee
2.50%
The Walmart Rewards Mastercard is another no annual fee retail card to consider. The card features rather basic rewards, with the top-level rewards capped at just 1.25% cash back on all purchases made in-store or online at Walmart. Fortunately, the Walmart Card provides a decent welcome bonus, something the HBC Mastercard lacks.
Is the Hudson’s Bay Mastercard worth it?
The Hudson’s Bay Mastercard makes a lot of sense if you frequently shop with the brand. The addition of cash back rewards through Neo partners is an unexpected boost. The program includes everything from streaming apps and drug stores, to gas stations and supermarkets, giving you the chance to really accumulate some rewards with a little planning. If you don’t shop at Hudson’s Bay, Saks Fifth Avenue or thebay.com, or if you want a credit card with travel and accident insurance, you will likely find better value elsewhere.
Eligibility requirements
You'll need to be a Canadian resident of at least the age of majority for your province or territory when applying for the Hudson's Bay Mastercard. Additionally, you'll need a Good credit score for approval.
Cory Santos is a finance writer, editor and credit card expert with over seven years of experience in personal finance. Cory joined Wise Publishing from BestCards, with bylines in numerous print and digital publications across North America, including the Miami Herald, St. Louis Post-Dispatch, AOL, MSN and Medium as well as financial podcasts like KOFE Talk.
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