Hudson's Bay has begun liquidating all but 6 of their stores – and those ones aren't secure, either. Part of this liquidation involves the suspension of points for anyone with an HBC Rewards account. You can't earn, redeem, or even view your HBC account right now.
If you have the HBC Mastercard, your card will continue to work since it’s issued by Neo, not RBC. You’ll earn cash back for the time being, but we don’t yet know what will happen to the HBC points you’ve accumulated. They could be lost forever, or they may come back with the 6 stores. That said, if you’re outside of Toronto or Montreal, it’ll be difficult to shop at HBC.
If you’re considering moving on from your HBC credit card, we've got alternatives for you to look at – starting with other Neo cards.
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Current cash back offering with the HBC Mastercard
It bears repeating: your HBC Mastercard still works, it's just offering cash back instead of points for the time being:
- 2% cash back at HBC stores
- 1% cash back on all other purchases
Want more information? Read Neo’s Hudson’s Bay FAQ
Alternative credit cards from Neo Financial
You can certainly turn to Neo for a replacement credit card. They offer a suite of cash back cards, ranging from no annual fee to $125. Note that none of these cards currently have welcome bonuses, and the categories are subject to monthly earnings caps.
Bonus: If you also have a Neo Everyday Account, you can increase these earn rates by maintaining a balance of at least $5,000. Consider, however, that the account only earns 0.1% interest.
| Neo Mastercard | Earn rates | Annual fee + income requirements | Apply |
|---|---|---|---|
| Neo Mastercard | * Average of 5% cash back at partner retailers * 1% cash back on gas, up to $500 spent monthly * 1% cash back on groceries, up to $500 spent monthly | * $0 * None | Apply |
| Neo World Mastercard | * Average of 5% cash back at partner retailers * 2% cash back on groceries, up to $1,000 spent monthly * 2% cash back on recurring bills, up to $500 spent monthly * 2% cash back on gas and EV charging, up to $1,000 spent monthly * 0.5% cash back everywhere else | * $0 * $50K personal or $80K household | Apply |
| Neo World Elite Mastercard | * Average of 5% cash back at partner retailers * 5% cash back on groceries, up to $1,000 spent monthly * 4% cash back on recurring bills, up to $500 spent monthly * 3% cash back on gas and EV charging, up to $1,000 spent monthly * 1% cash back everywhere else | * $125 * $80K personal or $150K household | Apply |
1. Neo Mastercard
The Neo Mastercard is Neo’s entry-level card, which earns the following on purchases:
- Average of 5% cash back at partner retailers
- 1% cash back on gas, up to $500 spent monthly
- 1% cash back on groceries, up to $500 spent monthly
Note: With this card, the only way to earn rewards everywhere is to have $10,000 stashed in a Neo Everyday Account.
2. Neo World Mastercard
If you meet World Mastercard income requirements of $50,000 personal or $80,000 household, you can opt for the no fee Neo World Mastercard instead. It vastly increases the rewards you can earn:
- Average of 5% cash back at partner retailers
- 2% cash back on groceries, up to $1,000 spent monthly
- 2% cash back on recurring bills, up to $500 spent monthly
- 2% cash back on gas and EV charging, up to $1,000 spent monthly
- 0.5% cash back everywhere else
3. Neo World Elite Mastercard
The best Neo has to offer is contained in the Neo World Elite Mastercard. For an annual fee of $125, you'll get one of the best cash back credit cards around.
- Average of 5% cash back at partner retailers
- 5% cash back on groceries, up to $1,000 spent monthly
- 4% cash back on recurring bills, up to $500 spent monthly
- 3% cash back on gas and EV charging, up to $1,000 spent monthly
- 1% cash back everywhere else
Other top no fee credit cards
There are plenty of well-rated no fee credit cards in Canada. Here's a breakdown of some of the best cash back and travel options.
| No fee credit card | Welcome bonus | Earn rates | Learn more |
|---|---|---|---|
| Rogers Red World Elite Mastercard | None | * Earn 2% unlimited cash back on all eligible non-U.S. dollar purchases if you have 1 qualifying service with Rogers, Fido, Comwave, or Shaw * Earn 1.5% unlimited cash back on eligible non-U.S. dollar purchases * Earn 3% unlimited cash back on all eligible purchases made in U.S. dollars | Learn more |
| American Express Green Card | 10,000 bonus points (terms) | * 1 point per $1 spent on all purchases | Learn more |
| Rogers Red Mastercard | None | * Earn 2% unlimited cash back on all eligible non-U.S. dollar purchases if you have 1 qualifying service with Rogers, Fido, Comwave, or Shaw * Earn 1% unlimited cash back on eligible non-U.S. dollar purchases * Earn 2% unlimited cash back on all eligible purchases made in U.S. dollars | Learn more |
| MBNA Rewards Platinum Plus Mastercard | 10,000 bonus points (terms) | * 2 points for every $1 spent on restaurants, groceries, and select recurring bills (up to $10,000 spent annually per category) * 1 point per $1 spent on all other purchases | Learn more |
| Tangerine Money-Back Credit Card |  $125 GeniusCash + 10% extra cash back for the first 2 months (terms) | * 2% cash back on purchases in up to 3 Money-Back Categories * 0.5% cash back on all other purchases | Learn more |
| SimplyCash Card from American Express | 5% cash back for the first 3 months (terms) | * 2% cash back on gas * 2% cash back on groceries (up to $300 cash back annually) * 1.25% cash back on all other purchases | Learn more |
Use our compare cards tool to find YOUR best card
To get a personalized list of credit cards that meet your needs, head to our compare cards page. Choose what's important to you with our 4 sliders, enter in rough amounts for your monthly spend, and we'll update the list in real time, showing you the best credit cards for you.
creditcardGenius is the only tool that compares 126+ features of 229 Canadian credit cards using math-based ratings and rankings that respond to your needs, instantly. Take our quiz and see which of Canada's 229 cards is for you.
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