First year value
$0
Get this card if you:
- want to build your credit history
- want to avoid paying an annual fee
- earn more rewards at Tim Hortons
At a glance
The Secured Tims® Mastercard® is a no-annual-fee secured credit card designed to help individuals build or rebuild their credit history. It requires a minimum security deposit, which determines the credit limit, and offers rewards such as earning Tims® Rewards Points on purchases, with higher earn rates at Tim Hortons locations.
Highlights
$20 Tims gift card
Welcome bonus
Interest Rates
20.99% - 26.99%
Purchase APR
20.99%-24.99% for Quebec
22.99% - 27.99%
Cash advance APR
22.99%-25.99% for Quebec
Eligibility
Good
Recommended credit score
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
Pros
-
No annual fee: There’s no fee for using the card. Many secured credit cards feature an annual fee of $20 or higher
-
Build credit: Build credit with on-time payments and low credit use
-
No credit check: There is no hard inquiry when applying for the card
Cons
-
Low base earn rate: 0.25x points per $1 spent is a very low base rate
-
Limited insurance: The card provides only basic insurance protections
Secured Tims® Mastercard welcome bonus
The Secured Tims® Mastercard features the same straightforward welcome bonus as the Tims® Mastercard:
New cardholders are eligible to receive a $20 gift card upon first purchase with their new Tims Mastercard. Offer valid from February 17, 2025, to April 30, 2025.
From February 17, 2025, to April 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. 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
$153
First Year Value
$0
Annual Value
Get this card if you...
-
have a low credit score
-
want to improve your credit score
-
want to earn cash back on everyday purchases
Annual Fee & Annual Interest Rates
$59
Annual Fee
19.99% - 29.99%
Purchase
22.99% - 31.99%
Cash Advance
Our Take
The Neo Secured Mastercard is a secured credit card designed to help individuals build or rebuild their credit history. It offers cash back rewards on purchases, with earn rates that increase based on the balance maintained in a linked Neo Everyday account.
Eligibility
Poor (up to 299)
Recommended Credit Score
$0
Required Annual Personal Income
$0
Required Annual Household Income
Pros
-
Low minimum security deposit
-
Cash back rewards on purchases
-
No hard credit check
Cons
-
High APR range
-
$5 monthly fee
-
Best cash back offer requires high balance
Annual Interest Rates
19.99% - 29.99%
Purchase
22.99% - 31.99%
Cash Advance
Fees
$59
Annual Fee
Rewards cash back
Up to 4%
Earn up to 4% on gas and groceries
up to 1%
Earn up to 1% on everything else
$680
Earn up to $680 in annual cashback
Our Take
The Neo Secured Mastercard is a secured credit card designed to help individuals build or rebuild their credit history. It offers cash back rewards on purchases, with earn rates that increase based on the balance maintained in a linked Neo Everyday account.
Eligibility
Poor (up to 299)
Recommended Credit Score
$0
Required Annual Personal Income
$0
Required Annual Household Income
Pros
-
Low minimum security deposit
-
Cash back rewards on purchases
-
No hard credit check
Cons
-
High APR range
-
$5 monthly fee
-
Best cash back offer requires high balance
Annual Interest Rates
19.99% - 29.99%
Purchase
22.99% - 31.99%
Cash Advance
Fees
$59
Annual Fee
Rewards cash back
Up to 4%
Earn up to 4% on gas and groceries
up to 1%
Earn up to 1% on everything else
$680
Earn up to $680 in annual cashback
Secured Tims® Mastercard vs. Capital One Guaranteed Secured Mastercard
$0
First Year Value
$0
Annual Value
Welcome Bonus: Be 100% sure you’ll be approved* before you apply. Try Quick Check®
Get this card if you...
-
looking to improve your credit score
-
want a low security deposit card
-
value purchase protection and extended warranty coverage
Annual Fee & Annual Interest Rates
$59
Annual Fee
21.9%
Purchase
21.9%
Cash Advance
21.9%
Balance Transfer
Our Take
The Capital One® Guaranteed Secured Mastercard® is designed for individuals with limited or poor credit, offering guaranteed approval (subject to conditions) and the opportunity to rebuild credit through responsible use. Cardholders are required to provide a security deposit, and benefit from features such as purchase protection and extended warranty coverage, though the card carries an annual fee and a standard interest rate.
Eligibility
Poor (up to 299)
Recommended Credit Score
$0
Required Annual Personal Income
$0
Required Annual Household Income
Pros
-
Guaranteed approval for those with weak credit
-
Helps build or repair credit history with responsible use
-
Low annual fee
-
Purchase and travel benefits for available for those who qualify for the unsecured card version
Cons
-
High interest rate
-
Limited extra features for secured cards
-
Security funds are required for the secured version
Annual Interest Rates
21.9%
Purchase
21.9%
Cash Advance
21.9%
Balance Transfer
Fees
$59
Annual Fee
Insurance Benefits
$75,000
Rental car insurance amount
Our Take
The Capital One® Guaranteed Secured Mastercard® is designed for individuals with limited or poor credit, offering guaranteed approval (subject to conditions) and the opportunity to rebuild credit through responsible use. Cardholders are required to provide a security deposit, and benefit from features such as purchase protection and extended warranty coverage, though the card carries an annual fee and a standard interest rate.
Eligibility
Poor (up to 299)
Recommended Credit Score
$0
Required Annual Personal Income
$0
Required Annual Household Income
Pros
-
Guaranteed approval for those with weak credit
-
Helps build or repair credit history with responsible use
-
Low annual fee
-
Purchase and travel benefits for available for those who qualify for the unsecured card version
Cons
-
High interest rate
-
Limited extra features for secured cards
-
Security funds are required for the secured version
Annual Interest Rates
21.9%
Purchase
21.9%
Cash Advance
21.9%
Balance Transfer
Fees
$59
Annual Fee
Insurance Benefits
$75,000
Rental car insurance amount
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.
Conditions Apply
The Tims® Mastercard is issued by Neo Financial™ pursuant to license by Mastercard International Incorporated.
Cory Santos is a finance writer, editor and credit card expert with nearly a decade of experience in personal finance. Cory joined Wise Publishing from BestCards, with bylines in numerous print and digital publications across North America, including the Miami Herald, St. Louis Post-Dispatch, Debt.ca, AOL, MSN and Medium as well as financial podcasts like KOFE Talk.
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