The New Hudson’s Bay Mastercard Powered by Neo

The New Hudson’s Bay Mastercard Powered by Neo

Written by Corrina Murdoch
Fact-checked by Caitlin Wood
Last Updated March 22, 2021

With roots dating back to the 17th century, The Hudson’s Bay Company has a proud Canadian history. Going through a lot of changes over the years, it rebranded as The Bay and later returned to its namesake, going by Hudson’s Bay once more. A hub of retail sales and commerce, as the world moved digital, it partnered with credit card companies like Capital One. However, in late 2020, the joint arrangement ended between the two parties. 

February 2021, Hudson’s Bay entered into a new agreement, joining up its MasterCard services with a company called Neo. Replacing all of its card programs, the Neo-powered Hudson’s Bay Mastercard is becoming available in the spring. The main idea is to focus on a digital retail strategy, with a view to enhancing customer experience in-store and online. So, if you’re a frequent Hudson’s Bay shopper (or are looking into a new Mastercard), this new opportunity could be a great option for you.

Who is Neo? 

Neo Financial is a tech company that focuses on the financial sphere. Founded to be a way to apply digital innovations to the Canadian banking sector, Neo seeks to streamline reward programs, along with spending and saving methods. This company partners directly with Mastercard to power the Hudson’s Bay reward card. 

It has a proven track record of success, propelling companies like Skip the Dishes into a top-ten Canadian service. Along with Hudson’s Bay,  its other partnerships are Esso, Husky, and Guardian Pharmacies across the nation. By growing its impact, it has been able to net consumers an average of 2% cashback. 

Check out Neo Financial’s credit card.

The idea is that, as more businesses partake, the returns for cardholders increases. Since, in 2019, Hudson’s Bay earned roughly 5.47 billion dollars by the third quarter, the boost in sales is expected to grow earnings for cardholders of the new Neo Hudson’s Bay Mastercard.

Neo Hudson’s Bay Mastercard Features

There’s no shortage of credit and reward card opportunities on the market — so much so that it can be challenging to identify which will serve you best. Though some cards have impressive names and flashy rates, if you have responsible spending habits and reasonably good credit, the main benefits to look at are the extra features. By investigating the individual criteria of the Neo Hudson’s Bay Mastercard, you can gain a full understanding of how to make the card work for your wallet. 

Points

The first feature is the points system, which is extremely straightforward. When you use your card at a Hudson’s Bay store or online at thebay.com, you get double points. For these purchases, you can make up to four points on every dollar spent. Using the card at different locations nets you two points on every dollar you spend. 

Enjoy earning points? Check out how you can earn additional points using the drop app

Redeem Points

After you’ve accrued sufficient points, you can cash them out. The value of these points varies based on how you redeem them. When used for travel rewards, you get a penny per point, leading to a return of as much as two percent. Alternatively, you can redeem your points for store products or gift cards. 

The redemption process is straightforward as well. You can automatically redeem your points when shopping at Hudson’s Bay (in-store or online). For every 1,000 points you accrue, you can get five dollars off your purchase. 

An innovative new feature to encourage customers to use their points, you can transfer points from the Neo Hudson’s Bay Mastercard to your Air Miles cards. Points can also be migrated to your RBC Rewards cards. Though the transfer rates are less substantial (40 points for a single Air Mile), it lends a bit of versatility and can free you up to use points wherever you benefit most.

Find out the “catch” of credit card rewards.

No Fees

One of the key benefits of the Neo Hudson’s Bay Mastercard is that there are no annual fees for the card. There are few things less pleasant than getting a new backup credit card, not spending anything, and getting a bill for the annual fee. The Hudson’s Bay card avoids this pitfall. 

Additionally, there is no cost for going over your limit. Since there are no fees associated with this common accident, it is a safe option to add to your digital wallet. You can link it to your Google Pay account and not worry about spending a bit over your limit. It’s a particularly useful feature for those with busy lives, who don’t want to pay extra for a minor slip-up. 

Cashback

One of the major reasons people gravitate to cards affiliated with companies like Hudson’s Bay is the opportunity to get cashback on your purchases. The Neo-powered Mastercard gives consumers approximately 2% cashback on their purchases. 

Since you earn more points by shopping at stores that partner with Neo, if you focus your purchases at affiliate locations, you can gain more cashback. Neo partners with massive companies like Guardian pharmacies, Husky, and Esso, it is relatively easy to accrue points that translate to cashback rewards. 

Enjoy earning cashback? Check out Ampli.

Cash-Out 24/7

According to the Neo Hudson’s Bay Mastercard website, you are able to cash out quickly and at any time. Using the proprietary Neo app, you can check your rewards balance at any point in time. Using the same in-app features, you can cash out immediately. Keep in mind that the points work in increments of 1,000 when redeeming them for cashback on purchases, so it may round down to the closest threshold.

Neo App

The Neo application gives you the ability to manage your card from the convenience of your smartphone. It lets you put a hold on your card if you misplace it or order a replacement if you’re confident the card is lost. If you prefer using virtual cards, you can link up your account with Google Pay or Apple Pay. It lets you make contactless payments using your smart device. You will receive the same amount of points whether you use a physical or virtual card. 

Sign-up Bonus 

To encourage customers to sign up for the new rewards card, Hudson’s Bay (in partnership with Neo) is offering 15% cashback on all purchases made on the first day. These purchases must be made on eligible items and at a Hudson’s Bay location or through thebay.com. 

The company is sweetening the pot by offering the equivalent of $25 in points as a welcome offer. You will receive 5,000 points via email ten days after you make your first purchase on the card. To qualify for this incentive, you must make a qualifying purchase within a month of opening your card. 

Member Benefits

Since the Neo-powered Hudson’s Bay Mastercard is a new initiative, the first round of offers has yet to hit the market. However, according to the company, there will be member-only exclusive events and special deals available throughout the year. 

Interested in switching credit cards? Learn how to switch over from a secured credit card to a regular credit card.

New Neo-Powered Mastercard vs. Capital One-Powered Card

Sometimes, it’s good to compare things side by side. Especially if you previously used the Capital One-powered Hudson’s Bay credit card, it helps to understand how the new Neo-powered Mastercard will stack up. 

Neo-Powered MastercardCapital One 
No annual feeNo annual fee
Up to 4 points at Hudson’s Bay for every dollar spentUp to 4 points at Hudson’s Bay for every dollar spent
Up to 2 points for every dollar spent outside of Hudson’s BayRoughly 2% cash back at Neo-partnered storesUp to 2 points for every dollar spent outside of Hudson’s BayTwice-annual bonus of 25% on points gained outside Hudson’s Bay
No fees for going over-limitNominal fees for going over-limit
Return standards vary90-day returns on items
Supplemental offers with exclusive deals for members, including events and special offers available throughout the year.Supplemental offers with exclusive deals for members, including events and special offers available throughout the year.

Frequently Asked Questions

Do I have to apply for the new Neo Hudson’s Bay card if I already have the old one? 

Since the old card affiliated with Hudson’s Bay was through Capital One, consumers will need to reapply for the Neo-powered card. The application process is straightforward and relatively quick, making it easy to get started. 

Will I lose my current Hudson’s Bay points?

Since your points balance is connected to your membership account with Hudson’s Bay, you won’t lose the points you’ve already accrued. When you change cards, your points will transfer over and you can continue earning and redeeming them right away.

How much are the Hudson’s Bay points worth? 

Every 1,000 points you gather translates to five dollars. Effectively, the points are worth half a cent each, or the equivalent of 0.5% credit in-store. You can earn up to four points for every dollar at Hudson’s Bay and up to two points elsewhere. In effect, this ranges from one to two percent cash back on every dollar spent.

Final Thoughts

Especially if you regularly shop at Hudson’s Bay, there are a lot of benefits to having their new Neo powered credit card  — even more so if you were a cardholder previously. Since Hudson’s Bay tends to be on the higher end of the pricing spectrum in terms of retail offerings, the opportunity to save is very desirable. Be sure to consider the drawbacks of applying for a new card, namely the impacts on your credit score and whether it works for your budget. Provided you plan to shop at Hudson’s Bay or other Neo-affiliated locations, there are ample advantages to the card. 

Corrina Murdoch has been a dedicated freelance writer and editor for several years. With an academic background in the sciences and a penchant for mathematics, she seeks to provide readers with accurate, reliable information on important topics. Working as a print journalist for several years, Corrina expanded her reach into the digital sphere to help more people gain insight into the realm of finances. When she's not writing, you can find Corrina swimming and spending time with family.

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