Neo Financial Hudson Bay Review (Feb 2023)

January 23, 2023
Reviews

The Neo Financial Hudson Bay Mastercard is a no-fee cash back store credit card that offers special deals and offers when purchasing at Hudson's Bay stores. With this credit card you will get a 15% discount on all purchases on your first day as a cardholder and up to 4 points per $1 spent at Hudson Bay stores.

The Neo Financial Hudson Bay Mastercard doesn't have an overlimit or annual fee, and offers free shipping during your first 90 days. Neo Financial has a very flexible redemption program through which you can redeem your points for Air Miles or use them directly to make online and in-store purchases.

What Is The Neo Financial Hudson Bay Mastercard?

The Neo Financial Hudson Bay Mastercard is a store-branded reward credit card for purchases made at the Hudson’s Bay branches. Neo Financial Hudson Bay Mastercard holders can earn points, access discounts, and receive store deals and offers. You can also earn points on purchases made outside the store. 

Neo Financial Technologies Inc. is a fintech company founded in Canada in 2019 by Andrew Chau, Jeff Adamson, and Kris Read. Hudson’s Bay chose the company to issue its store credit cards in 2021. Hudson’s Bay is a Canadian department store that sells luxury products.

Neo Financial Hudson’s Bay Mastercard Features

#1 15% Discount On First-Day Purchase

The Neo Financial Hudson’s Bay Mastercard doesn’t offer a direct welcome bonus to new cardholders. Instead, you can get a 15% discount on your first day of purchase at Hudson’s Bay or its online store.

#2 Earn Up To 4 Points At The Hudson’s Bay

Neo Financial Hudson’s Bay Mastercard lets cardholders earn points to redeem rewards. It provides an advantage to cardholders because they can still earn points from outside the store. Here are the points you can get using this card:

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  • 4 points on almost every $1 spent at Hudson’s Bay or thebay.com
  • 2 points on almost every $1 spent outside the Hudson’s Bay stores

#3 No Annual Fee And Overlimit Fee

An enticing feature of the Neo Financial Hudson’s Bay Mastercard is it has no annual fee or over limit fee. It also offers a 21 day grace period for bills which gives you time to pay your balances. Other than these, fees are required for additional transactions and services when using the card. 

#4 Redeem Points At Anytime

Technically, cardholders of the Neo Financial Hudson’s Bay Mastercard can redeem their points offered in the Hudson’s Bay Stores or the online shopping platform at thebay.com. Cardholders can also redeem the accumulated points for Air Miles rewards, donations, and more. Additionally, you are immediately registered to the Hudson’s Bay Rewards program if you get this card.

#5 Free Shipping On Purchases

Neo Financial Hudson’s Bay Mastercard holders are entitled to free shipping on their purchases at the participating stores for 90 days. Other than the free shipping, returns are also included as long as you qualify for the required minimum purchase amount. 

#6 Manage Your Account Using The Neo Financial App

Neo Financial Hudson’s Bay Mastercard is accessible using the Neo Financial mobile app. You can easily manage your account online in a secure way. You can also add this credit card to your Google Pay or Apple pay for contactless payment preventing identity theft from swiping cards. 

#7 Various Convenient Ways To Apply

You can apply for the Neo Financial Hudson’s Bay Mastercard in various ways. You can choose from the following depending on which is more convenient for you: 

  • Apply through New Financial App using your Android or iOS devices
  • You can apply through the Neo Financial online web portal using your computer or mobile device
  • Every Hudson’s Bay branch accepts applications for this credit card with an associate to help you

Neo Financial Hudson Bay Mastercard Pros And Cons

Pros

  • Decent welcome bonus (up to 15% discount on the first day of purchase)
  • High earn rate (up to 4 points from Hudson’s Bay or The Bay’s website)
  • No Annual Fee And Overlimit Fee
  • Redeem Points At Anytime
  • Various convenient ways to apply for the credit card
  • Free shipping or returns for 90 days
  • Manage your account using the Neo Financial mobile app

Cons

  • No insurance coverage
  • Limited rewards redemption to The Bay, Hudson’s Bay stores, and Air Miles only

Pricing

Although the Neo Financial Hudson’s Bay Mastercard has no annual fee, it still has interest rates you must pay. The following are some of the essential fees you must consider:

FeesCost/Rate
Annual Fee $0/year
Interest Rate/APR19.99% – 24.99% on purchases
21.99% – 26.99% on cash advances
At retailer points value1-2% cash equivalent
Daily spend points 1% cash equivalent
Overlimit fee$0
Inactive Fee$0

In Summary

The Neo Financial Hudson Bay Mastercard is a no-fee cash back store credit card that offers special deals and offers when purchasing at Hudson's Bay stores. With this credit card you will get a 15% discount on all purchases on your first day as a cardholder and up to 4 points per $1 spent at Hudson Bay stores.

The Neo Financial Hudson Bay Mastercard doesn't have an overlimit or annual fee, and offers free shipping during your first 90 days. Neo Financial has a very flexible redemption program through which you can redeem your points for Air Miles or use them directly to make online and in-store purchases.

Neo Financial Hudson Bay FAQs

How much does the Neo Financial Hudson Bay cost?

The Neo Financial Hudson’s Bay Mastercard has no annual, over limit, or inactive fee. Other than these, interest rates are still applied, which are 19.99% to 24.99% on purchases and 21.99% – 26.99% on cash advances.

Is the Neo Financial Hudson Bay worth it?

Yes, the Neo Financial Hudson’s Bay Mastercard is worth it if you are an avid shopper of the Hudson’s Bay stores or The Bay. Otherwise, it is unworthy for those who seek rewards from other stores and purchases. 

Is the Neo Financial Hudson Bay safe?

Yes, the Neo Financial Hudson’s Bay Mastercard is safe. Neo Financial has a partnership with Concentra Bank, a CDIC member institution with CDIC deposit protection. Meanwhile, CDIC stands for Canadian Deposit Insurance Corporation, which provides deposit insurance to Canadian banks’ depositors and other institutions. 

Is the Neo Financial Hudson’s Bay legit?

Yes, the Neo Financial Hudson’s Bay Mastercard is legit. It is accepted by all Hudson’s Bay and The Bay stores. Neo Financial is an official issuer of this card, determined by the store. 

Can I use my Neo Mastercard anywhere?

Yes, you can use your Neo Mastercard anywhere if the store or merchant accepts Mastercard. Rewards points may differ based on where you’re going to use them. 

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