Secured Tims® Mastercard review

Quick overview of the Secured Tims^® Mastercard

The Secured Tims^® Mastercard is a credit-builder credit card from Neo Financial and Tims Financial, the banking arm of Tim Hortons. The card is a no annual fee secured card, meaning that it requires a minimum security deposit of $50 or more to open an account, with that deposit acting as the credit limit. With on-time payments and responsible use, you can improve your credit score and gain access to better card offers in the future. 

Who can benefit most from the Secured Tims^® Mastercard

Using one of the best secured credit cards is a great way to establish a strong credit history. These cards are available without a hard credit check, meaning you can apply without having to worry about your credit score being impacted. The Tims Secured Mastercard is a great example of this card type, as it offers rewards, credit-building and no annual fee, all in one package. 

Pros and cons

Secured Tims^® Mastercard welcome bonus

The Secured Tims^® Mastercard features the same straightforward welcome bonus as the Tims^® Mastercard:

• Get a $20 digital gift card upon first purchase with a new Tims Mastercard.† Offer valid through June 30, 2025.

  From May 13, 2025, up to and including June 30, 2025, new customers who apply and are approved for the Tims Mastercard are eligible to receive a $20 CAD Tims Gift Card via email upon their first purchase with their new Tims Mastercard, (the “Welcome Offer”). To receive the Welcome Offer, your first purchase must be made within 30 days of your Tims Mastercard account activation. It can take up to 24 hours from the time of first purchase for the Welcome Offer to be processed and emailed. There is a limit of one Welcome Offer per person, per account, and it cannot be combined with any other offers. This Welcome Offer is subject to the Tims Rewards Terms and Conditions and the Tims Rewards – Tims Mastercard Offer Terms and Conditions.

  
  

How to earn rewards with the Secured Tims^® Mastercard

The Secured Tims Mastercard earns versatile Tim Rewards Points on everyday purchases. Cardholders earn the following rewards on eligible purchases:

• Earn 2 points per $1 spent on groceries, gas, and transit
• Earn 12 points per $1 at Tim Hortons restaurants when you scan for Tims Rewards
• Earn 1 point per $4 spent on all other purchases
  

That earn rate is about half of what you can expect from the Tims^® Mastercard. But, while half the rewards is frustrating, it’s still an impressive 2x on key categories, something not found with many other secured card options. 

How to redeem

Redeeming Tims Rewards is a simple process. You can convert your Tims Rewards Points into your favourite items at Tim Hortons or apply them towards reducing the balance of your current billing cycle, with the potential to receive up to $45 in statement credit every week.

Key benefits of the Secured Tims^® Mastercard

• Establish a strong credit history: The card is a great tool for building a positive credit history. Making regular, on-time payments and maintaining low credit utilization with a secured credit card can help you build a strong credit profile. This is crucial for obtaining future credit cards, loans and mortgages and ensuring you get the lowest rate possible
• Earn solid rewards: The card earns up to 12x points on purchases. This breaks down as 12x for Tim Hortons purchases, 2x on gas, groceries, transit, rideshares and more 
• Simple redemptions: If earning rewards is easy, redeeming them is even easier. You can use your Tims Rewards at the counter or drive-thru for any menu item, or use the points to pay down your card account balance

Related article: What’s the difference between a secured and an unsecured credit card?

Secured Tims^® Mastercard insurance coverage

The Secured Tims^® Mastercard only provides the most basic insurance protections. Cardholders enjoy access to purchase protection and extended warranty coverage, but lacks the travel and emergency insurance found with more premium card offers:

• Extended warranty: 1 year
• Purchase protection: 90 days

Other benefits of the Secured Tims^® Mastercard

The Tim Hortons Mastercard, powered by Neo, is accepted anywhere Mastercard is accepted. Other benefits include real-time spending notifications, access to the Tims Financial mobile app, digital wallet compatibility through Apple Pay and Google Pay and more.

How does the Secured Tims^® Mastercard compare?

Secured Tims^® Mastercard vs. Neo Secured Credit Card

Secured Tims^® Mastercard vs. Capital One Guaranteed Secured Mastercard

Is the Secured Tims^® Mastercard worth it?

The Secured Tims^® Mastercard is a great option for anyone looking to build their credit history while earning rewards at the same time. The card’s modest security deposit (minimum of $50) is reasonable, particularly with some cards that require an initial deposit of $500. The addition of rewards is equally enjoyable, especially so since you can redeem those points for Tims’ goods instantly at any Tim Hortons location. Ultimately, it’s an intriguing secured rewards card that can help you build credit and advance on to more impressive offers down the line, like the American Express Cobalt^®.

Eligibility requirements

The Secured Tims Mastercard is accessible to most Canadians. There is no stated minimum personal or household income required to qualify.