Hudson’s Bay Credit Card Review

Hudson’s Bay and Neo Financial teamed up in February to introduce a new, digitally-integrated Hudson’s Bay Mastercard. The new card replaces the old Hudson’s Bay Credit Card and Mastercard by American-based Capital One, which has exited the Canadian market.

Let’s not put the cart before the horse; perhaps you’re wondering what Hudson’s Bay Credit Card is all about. If that’s the case, then this article is for you! Read on for tips to get the most out of your shopping with the Hudson’s Bay Credit Card.

What is the Hudson’s Bay Credit Card?

Hudson’s Bay Credit Card is a product of Hudson’s Bay stores, one of Canada’s premier department stores. Hudson’s Bay stores offer an array of premium products at higher-end prices including groceries, kitchenware, and beauty products. Now that it’s powered by Neo Financial, a Canadian neo-bank, you also get additional perks like cash back on every purchase. 

Read More: The 7 Best Neobanks in Canada

In the old Hudson’s Bay Credit Card program, you could choose between a Mastercard or a credit card. The benefits of the Mastercard were slightly better because you could use it anywhere, but you could only use the credit card at Hudson’s Bay stores and limited affiliate stores.

What’s new? 

The new partnership between Hudson’s Bay and Neo Financial merges the previous two cards into one. Now, the single Hudson’s Bay MasterCard powered by Neo Financial gives you the best of both worlds. You continue to earn points, but now you can even earn on purchases outside the store, a feature not included under the old program. Also, you earn cash back at national Neo Financial partners as well as at thousands of non or small-chain local stores.

Hudson’s Bay Credit Card is explicitly tailored to improve the customer experience; it facilitates quick and efficient payment at any of the company’s flagship stores countrywide. You now have enhanced customer experience and better rewards that fit your Canadian lifestyle. Shoppers now get double points, free shipping on orders, and everyday cash back at Neo partners too.

Read More: The 11 Best Cash Back Credit Cards in Canada

How can you earn points with a Hudson’s Bay Credit Card?

Hudson’s Bay runs a three-tier rewards program to reward its credit card users. The multiple ways to earn points and other benefits ensure that the more you spend, the more you earn. The three Hudson’s Bay reward program tiers include:

Hudson’s Bay Rewards: Lowest tier

Holders must spend an annual net purchase between $0 and $399.99. They also earn a single point for almost every dollar spent using the Hudson’s Bay Rewards Card, and two points for every dollar they spend using the Neo Financial Hudson’s Bay Credit Card. 

Hudson’s Bay Reward Plus: Middle-tier

Annual net purchases should range between $400.00 and $1,999.99 and earn 1.5 points for every dollar spent on Hudson’s Bay Reward Card, and 3 points for every dollar spent on the Neo Financial Hudson’s Bay Mastercard. You must also make two separate purchase visits, either online or in-store, at two different locations or on two different dates. 

Hudson’s Bay Reward VIP: Top-tier

Users must spend above $1,200 in annual net purchases. They earn 2 points for every dollar spent on the Hudson’s Bay Rewards Card and 4 points for every dollar spent on the Neo Financial Hudson’s Bay Credit Card. You must also make two separate purchase visits, either online or in-store, at two different locations or on two different dates.

As you’ve noted, the more you spend at the company’s stores, the higher you move up the reward levels in the loyalty program. 

What happened to my points under the old program? 

Customers enrolled in the previous HBC rewards system didn’t lose their points during the transfer. They are automatically members of the new Hudson’s Bay Rewards program and continue accumulating points in their Rewards account. 

All about the points: where to earn & how to get more

You can earn double the points, up to four points, on almost every dollar you spend using your Neo Financial Hudson’s Bay Mastercard in-store at Hudson’s Bay outlets and on thebay.com.

But since the card is designed to shop anywhere, you earn two points on almost every dollar you spend outside Hudson’s Bay stores. You can instantly redeem these Hudson’s Bay Rewards points at Hudson’s Bay stores and on thebay.com

Read More: Hudson’s Bay Rewards: How to get the most of them

Rates & fees at a glance: Hudson’s Bay Credit Card

• Annual Fee: $0
• Additional Card Fee: $0
• Purchases Interest Rate: 19.99%-24.99%
• Cash Advance Interest Rate: 21.99%-26.99%
• Cash back rewards: Avg. 2% at Neo Financial partners, and up to 15% 

How to apply for Hudson’s Bay MasterCard

With Neo Financial, a Canadian-based financial services company, the new Hudson’s Bay Mastercard replaces the previously existing card programs. Every former cardholder wishing to continue with the program will need to apply for the Hudson’s Bay Mastercard powered by Neo.

Luckily, it’s a simple application process. Shoppers can apply for the Hudson’s Bay MasterCard at any Hudson’s Bay department store or an affiliate store. Alternatively, you can download the Neo app on your Apple or Android smartphone and register, or apply on the Neo Financial website.

All three methods are safe and secure. In under five minutes, you can be approved, load your card into your digital wallet and immediately start shopping. However, the physical card will be available to you 7 to 14 business days after approval, and you’ll receive it through the Canada Post.

To qualify, you must be a Canadian citizen, provide proof of citizenship and be of age in your province/ territory.

How can I redeem Hudson’s Bay reward points?

You can redeem Hudson’s Bay Rewards points in exchange for gift cards or a discount on your purchase at any Hudson’s Bay store. You can redeem points from 1000 for a $5 discount off your purchase both in-store and online. You can also redeem your points for a Hudson’s Bay gift card. However, you cannot redeem your rewards for electronic gift cards (eGift Cards).

You can double your points earned by coupling your Neo Financial Hudson’s Bay Credit Card with the Hudson’s Bay Rewards Card and earn yourself 4 points for each dollar spent shopping.

Read More: Reward Points Value in Canada: How Much Are They Worth

Valid purchases under the Hudson’s Bay reward program

Before you earn points for using your Hudson’s Bay Credit Card as payment, you must meet the following purchase requirements.

• Multiple purchase visits at the same Hudson’s store on the same day count as a single store visit and are rewarded as such.

• Purchases made on different days count as separate purchases, similar to purchases done on the same date but in separate stores.

• If you shop online and at a store on the same day, they count as two different purchase visits and are rewarded as such.

• Points are only awarded if you meet the annual net purchase limits for a specific reward tier between January 1^st and December 31^st.

Benefits of using a Hudson’s Bay MasterCard

If you are an avid Hudson’s Bay shopper, there are a ton of perks to getting this card. Here is a summary of the benefits to consider:

• It’s free to use with no annual fees: Although you’ll be paying an annual interest rate of up to 24.99%, Hudson’s MasterCard does not charge any annual fees on your card. This is an outstanding feature as many rewards credit cards charge yearly fees.

•  21-day interest-free grace period: New Hudson’s Bay Credit Card holders have a three-week grace period after making a card purchase; they will be charged zero interest on every purchase from the date of the purchase. The requirement is that you have to pay off the balance in full before the due date. The period does not apply to cash transfers, cash advances, and other cash-like transactions. 

• Free shipping, no minimum: Enjoy free shipping on items from Hudson’s Bay, The Bay, and Home Outfitters with the Hudson’s Bay Mastercard. If you pay using other cards, you must spend at least $49 to enjoy this offer. You can get your shopping items in as little as 3 hours, but only from a select item list.

• Up your rewards with the Hudson’s Bay Red Card: Hudson’s Bay Credit Card holders can increase their rewards by coupling the credit card with a Hudson’s Bay Rewards card during purchase visits.

•  Extra Shopping Options: You can use your Hudson’s Credit Card at Home Outfitters, The Bay and everywhere else. You earn maximum points as you would at any Hudson’s Bay store. This gives you extra shopping options other than Hudson’ Bay stores.

• Double points for each dollar spent: The Hudson’s Bay Reward card can be used with the Hudson’s Bay Credit Card to double your points for each dollar spent. Cardholders can now earn up to four points for each dollar spent.
  
• Easy redeem options: Hudson’s Bay Credit Card holders can redeem their hard-earned points anytime at Home Outfitters, thebay.com, and Hudson’s Bay stores, as long as they have reached the minimum threshold. These points can only be redeemed for purchases and physical gift cards.

•  Extra perks for cardholders: Hudson’s Bay Credit Card users can access extra perks from Hudson’s community. For instance, you get access to exclusive events any time of the year, including the 20 money-saving events offered by Hudson’s Bay stores each year. These events give cardholders a chance to save money on deeply discounted purchases.

• A 90 –day return policy: If you are unsure of a product you purchased with the Hudson’s Bay Credit Card, you get access to an exclusive 90-day return policy. Also, returns of items sold at Hudson’s Bay are free for cardholders, both online and in-store. However, items sold by marketplace sellers are not eligible.

•  Cash back: As a new cardholder, you get a 15% cash back perk on an eligible first purchase at Hudson’s Bay, whether you make it online or in-store. Afterwards, you earn an average of 2% cash back at Neo Financial partners, like national merchants, thousands of local stores, restaurants, gyms, coffee shops, most major gas and grocery stores,  and more. There is no minimum threshold to cash out your Neo Financial cash back rewards, and you can do it anytime. 

•  Safe and secure: The card has many security features that allow you to keep tabs on it. There’s Mastercard’s Zero Liability Protection against unauthorized or fraudulent charges. You receive proactive alerts in real-time; you can freeze your card online in case you lose it or turn off online transactions. You do this right from your Neo’s leading-edge digital phone app that allows you to manage your card on the go.

Drawbacks of using the Hudson’s Bay Credit Card

There is nothing perfect under the sun. Here are some drawbacks to consider:

The interest rates can be pretty high

The Hudson’s Bay Credit Card can charge an interest rate as high as 24.99% depending on your credit profile and where you live at the time of application. The highest rate is almost twice what most Canadian Banks offer. The drawback is, however, overshadowed by immense benefits associated with the card.

It can impact your credit score

Store credit cards typically carry a low credit limit, impacting your overall credit score if you carry a balance of more than 30% of your card limit; for example, more than $500 on a card with a $1,500 limit. Remember that this information is shared with other banks and is factored in when calculating your credit rating. It is unclear if the Hudson’s Bay Credit Card powered by Neo Financial will offer a lower card limit like traditional store cards, or a higher limit like traditional bank credit cards. 

Read More: The Best Rewards Credit Cards in Canada

The final rating on Hudson’s Bay Credit Card

Feature	Star Rating 4.5/5
Versatility	4.0
Interest Rates	3.0
Annual fees	5.0
Reward program	5.0
Overall rating	4.5

Is the Hudson’s Bay Credit Card worth it? 

Hudson’s Bay MasterCard powered by Neo Financial makes amends where the previous Hudson’s Bay credit card program failed. It expands your shopping options while maximizing your points if you are a frequent shopper at the Hudson’s Bay Company. 

Plus, you earn an average of 2% in cash back on every purchase made with the card, with up to 15% cash back at Neo Financial partners. You can cash out your cash back balance at any time, with no minimum cash back balance required. There are no annual or over-limit fees, and you benefit even more through member-only exclusive perks throughout the year. It indeed elevates the customer experience and puts free money in your pocket. That being said, you can see if this card meet your requirement by comparing it with others!