First year value
$0
Get this card if you:
- frequently dine at Tim Hortons
- want to earn rewards on everyday purchases
- want to avoid paying an annual fee
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 Tims® Mastercard
The Tims® Mastercard is a retail rewards credit card from Tim Hortons, its financial arm, Tims Financial, and card issuer Neo Financial. The card rewards Tim Hortons lovers everywhere with up to 15 points on Tims purchases, up to 5 points on a variety of “everyday” categories, like gas, groceries, transit and more, for no annual fee.
Who can benefit most from the Tims® Mastercard
The Tims® Mastercard from Neo Financial is designed to appeal to a wide range of Canadians. Whether you're a frequent visitor to Tim Hortons or simply someone who enjoys earning rewards on everyday purchases, this card offers something for everyone.
Pros and cons
Pros
-
No annual fee: No fee for being a card member
-
Up to 15x points: Earn 15x points per $1 spent at Tim Hortons and up to 5x elsewhere
-
Welcome bonus: Simple, easy to reach $20 value welcome bonus for new accounts
Cons
-
Low base earn rate: 0.5x points per $1 spent is a very low base rate
-
Limited insurance: The card provides only basic insurance protections
Tims® Mastercard welcome bonus
The Tims® Mastercard comes with an easy-to-reach welcome bonus for new accounts:
- New cardholders are eligible to receive a $20 CAD Tims Gift Card via email upon their first purchase with their new Tims Mastercard.
This welcome bonus requires meeting minimum spending requirements, but those are straightforward and the majority of applicants will have no trouble reaching the targets:
New cardholders are eligible to receive a $20 CAD Tims Gift Card via email upon their first purchase with their new Tims Mastercard. Offer valid from January 7, 2025, to April 30, 2025.
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 Tims® Mastercard
The Tims® Mastercard by Neo is a versatile everyday rewards credit card. As such, it prioritizes giving you a robust selection of bonus categories in which to earn points. Beyond the points for your coffee, muffins or Timbits, Tims® Mastercard cardholders earn the following rewards on eligible purchases:
- Earn 5 points per $1 spent on groceries, gas, and transit
- Earn 15 points per $1 at Tim Hortons® restaurants when you scan for Tims® Rewards
- Earn 1 point per $2 spent on all other purchases
The rewards with the Tims® Mastercard are generous when you compare it with other offers. The card’s up to 5x outside of Tim Hortons is double the top rewards of the MBNA Amazon.ca Rewards Mastercard, for example. It’s a pretty similar rewards structure you’ll find with the premium tier of the Neo Credit Card, too, but Tims has added a few extra bells and whistles to make it just that little bit more exciting.
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 Tims® Mastercard
- No annual fee: The Tims® Mastercard charges no annual fee. For a card with quality rewards on everyday purchases, the no annual fee is a great perk that can save you money.
- Generous rewards: And the rewards with the card are generous, indeed. The ability to earn up to 5x on “everyday” categories like gas, groceries, taxis, rideshares and more, is exceptional. Getting up to 15x when getting your morning coffee at Tim Hortons is another great treat, though the baseline 1x earn rate is something of a disappointment.
- 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, or use the points to pay down your card account balance.
Tims® Mastercard insurance coverage
The 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 offer:
- Extended warranty: 1 year
- Purchase protection: 90 days
The Tims credit card is comparable to other no annual fee credit cards when it comes to insurance. Both the BMO CashBack Mastercard and Tangerine Money-Back Card provide the same insurance protection, meaning you likely won’t be missing out with insurance if you opted for the Tims® Mastercard.
Other benefits of the Tims® Mastercard
The Tims® 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 Tims® Mastercard compare?
Tims® Mastercard vs. Neo Credit Card
$153
First Year Value
$0
Annual Value
Get this card if you...
-
already have a savings account with Neo so you can earn more cash back
-
are a smart shopper who is good at checking for Neo partners to earn more rewards
-
want to avoid paying a high annual fee
Annual Fee & Annual Interest Rates
$0
Annual Fee
19.99% - 29.99%
Purchase
22.99% - 31.99%
Cash Advance
-
Our Take
The Neo Financial Mastercard is a no-annual-fee credit card that offers cash back rewards on everyday purchases, with higher rates available when shopping at participating partners. Cardholders can redeem cash back at any time without minimum balance requirements, and the card is accessible to Canadians nationwide, including Quebec.
Neo Mastercard ReviewEligibility
Fair (300 - 619)
Recommended Credit Score
-
Pros
-
No annual fee
-
Cash back rewards on purchases
-
Even more cash back potential with 10,000 Neo partners
Cons
-
Potentially high APR
-
Tiered cash back rates make it harder to unlock max earn rates
-
-
Annual Interest Rates
19.99% - 29.99%
Purchase
22.99% - 31.99%
Cash Advance
Fees
$0
Annual Fee
-
Rewards cash back
Up to 4%
Earn up to 4% cashback on gas and groceries, no matter where you pay for them.
Up to 1%
Earn up to 1% cashback on everything else
Up to 15%
Earn up to 15% cashback at participating partners with new offers added regularly.
Up to 5%
Visit any of Neo's 10,000 partners and earn an additional average of 5% cashback on top of your everyday cashback.
Our Take
The Neo Financial Mastercard is a no-annual-fee credit card that offers cash back rewards on everyday purchases, with higher rates available when shopping at participating partners. Cardholders can redeem cash back at any time without minimum balance requirements, and the card is accessible to Canadians nationwide, including Quebec.
Neo Mastercard ReviewEligibility
Fair (300 - 619)
Recommended Credit Score
Pros
-
No annual fee
-
Cash back rewards on purchases
-
Even more cash back potential with 10,000 Neo partners
Cons
-
Potentially high APR
-
Tiered cash back rates make it harder to unlock max earn rates
Annual Interest Rates
19.99% - 29.99%
Purchase
22.99% - 31.99%
Cash Advance
Fees
$0
Annual Fee
Rewards cash back
Up to 4%
Earn up to 4% cashback on gas and groceries, no matter where you pay for them.
Up to 1%
Earn up to 1% cashback on everything else
Up to 15%
Earn up to 15% cashback at participating partners with new offers added regularly.
Up to 5%
Visit any of Neo's 10,000 partners and earn an additional average of 5% cashback on top of your everyday cashback.
Tims® Mastercard vs. Scotia Momentum No-Fee Visa Card
5% cash back
Welcome Bonus
$271
First Year Value
$171
Annual Value
Welcome Bonus: Earn 5% cash back on all purchases for the first 3 months (up to $2,000 in total purchases); Plus, get a 0% introductory interest rate on balance transfers for the first 6 months.
Get this card if you...
-
want to earn cash back with no annual fee
-
value a good welcome offer
-
don't need comprehensive insurance benefits
Annual Fee & Annual Interest Rates
$0
Annual Fee
19.99%
Purchase
22.99%
Cash Advance
22.99%
Balance Transfer
-
Our Take
The Scotiabank Momentum® No-Fee Visa* Card is a no-annual-fee credit card offering cash back on everyday purchases, with elevated rates for spending at gas stations, grocery stores, drug stores, and on recurring bill payments. It also routinely comes with a generous welcome bonus.
Scotiabank Momentum® No-Fee Visa* Card ReviewEligibility
Fair (300 - 619)
Recommended Credit Score
-
Pros
-
No annual fee: The card does not charge an annual fee, making it cost-effective for users.
-
Cash back rewards: Offers 1% cash back on eligible gas, groceries, drugstore purchases and recurring bill payments.
-
Welcome bonus: There is a welcome bonus of 5% cash back on up to $2,000 in eligible purchases within the first three months.
-
Promotional balance Transfer Rate: A promotional 0% annual interest rate on balance transfers for the first six months (with a 2% balance transfer fee).
-
Rental car discounts: Cardholders can save up to 25% off base rates at participating AVIS and Budget locations in Canada and the U.S.
Cons
-
Limited insurance: No included insurance coverage, though optional insurance bundles are available for a fee.
-
Low base rewards rate: After exceeding the $25,000 spending cap, the cash back rewards drop to a base rate of 0.5%.
-
Rigid redemption process: Cash back is accumulated monthly but can only be redeemed once annually in November.
-
Balance transfer fee: There is a 2% balance transfer fee when utilizing the promotional balance transfer rate.
-
Foreign transaction fee: The card charges a 2.5% foreign transaction fee on purchases made in a foreign currency.
-
Limited perks: Compared to other no-fee cards, the Scotiabank Momentum No-Fee Visa Card offers fewer perks and lower reward rates.
-
-
Annual Interest Rates
19.99%
Purchase
22.99%
Cash Advance
22.99%
Balance Transfer
0.00%
Balance Transfer (Introductory)
Fees
$0
Annual Fee
$2.5
Foreign Transaction
$5
Cash Advance
$29
Over The Limit Penalty
-
Rewards cash back
1%
Cash back at gas stations, grocery stores, drugs stores, and on recurring payments.
0.5%
Cash back on all other eligible purchases.
25%
Off base rates at Avid and Budget locations in North America.
-
Earn 5% cash back on all purchases for the first 3 months (up to $2,000 in total purchases); Plus, get a 0% introductory interest rate on balance transfers for the first 6 months (22.99% after that; annual fee $0).
The 5% Cash Back and Introductory 0% Balance Transfer Rate Offer (the “Offer”) applies only to new Scotiabank Momentum No-Fee Visa credit card accounts (“Accounts”) that are opened by October 31, 2025 and is subject to the terms and conditions. All other terms and conditions of the Program Terms continue to apply during the Offer Period. Offer may be changed, cancelled or extended at any time without notice and cannot be combined with any other offers.
Our Take
The Scotiabank Momentum® No-Fee Visa* Card is a no-annual-fee credit card offering cash back on everyday purchases, with elevated rates for spending at gas stations, grocery stores, drug stores, and on recurring bill payments. It also routinely comes with a generous welcome bonus.
Scotiabank Momentum® No-Fee Visa* Card ReviewEligibility
Fair (300 - 619)
Recommended Credit Score
Pros
-
No annual fee: The card does not charge an annual fee, making it cost-effective for users.
-
Cash back rewards: Offers 1% cash back on eligible gas, groceries, drugstore purchases and recurring bill payments.
-
Welcome bonus: There is a welcome bonus of 5% cash back on up to $2,000 in eligible purchases within the first three months.
-
Promotional balance Transfer Rate: A promotional 0% annual interest rate on balance transfers for the first six months (with a 2% balance transfer fee).
-
Rental car discounts: Cardholders can save up to 25% off base rates at participating AVIS and Budget locations in Canada and the U.S.
Cons
-
Limited insurance: No included insurance coverage, though optional insurance bundles are available for a fee.
-
Low base rewards rate: After exceeding the $25,000 spending cap, the cash back rewards drop to a base rate of 0.5%.
-
Rigid redemption process: Cash back is accumulated monthly but can only be redeemed once annually in November.
-
Balance transfer fee: There is a 2% balance transfer fee when utilizing the promotional balance transfer rate.
-
Foreign transaction fee: The card charges a 2.5% foreign transaction fee on purchases made in a foreign currency.
-
Limited perks: Compared to other no-fee cards, the Scotiabank Momentum No-Fee Visa Card offers fewer perks and lower reward rates.
Annual Interest Rates
19.99%
Purchase
22.99%
Cash Advance
22.99%
Balance Transfer
0.00%
Balance Transfer (Introductory)
Fees
$0
Annual Fee
$2.5
Foreign Transaction
$5
Cash Advance
$29
Over The Limit Penalty
Rewards cash back
1%
Cash back at gas stations, grocery stores, drugs stores, and on recurring payments.
0.5%
Cash back on all other eligible purchases.
25%
Off base rates at Avid and Budget locations in North America.
Earn 5% cash back on all purchases for the first 3 months (up to $2,000 in total purchases); Plus, get a 0% introductory interest rate on balance transfers for the first 6 months (22.99% after that; annual fee $0).
The 5% Cash Back and Introductory 0% Balance Transfer Rate Offer (the “Offer”) applies only to new Scotiabank Momentum No-Fee Visa credit card accounts (“Accounts”) that are opened by October 31, 2025 and is subject to the terms and conditions. All other terms and conditions of the Program Terms continue to apply during the Offer Period. Offer may be changed, cancelled or extended at any time without notice and cannot be combined with any other offers.
The Scotia Momentum No-Fee Visa Card is another $0 annual fee credit card that offers rewards on things like groceries, gas stations, drugstores, recurring bill payments and more. That bonus rewards rate is just 1% back on those categories, with 0.5% back on all other purchases, however.
Disclosures:
- *See Card Provider's website and Card Application for complete card details, terms and current offers. Reasonable efforts are made to maintain accuracy of information.
Is the Tims® Mastercard worth it?
So, is the Tims® Mastercard worth it? While it may not be the best credit card option compared to others in the market, it could be worth considering if you are a frequent Tim Hortons customer who visits multiple times a week. However, if you prefer more lucrative and flexible redemption schemes, there are likely other credit cards available that could better suit your needs.
Eligibility requirements
The Tims® Mastercard is accessible to most Canadians. There is no stated minimum personal or household income required to qualify, although you'll need a Good credit score. If your credit isn’t at that level you can opt for the Secured Tims® Mastercard, also from Neo Financial.
Disclosures:
Conditions Apply
The Tims® Mastercard is issued by Neo Financial™ pursuant to license by Mastercard International Incorporated. Mastercard and the circles design is a trademark of Mastercard International Inc. Tims Financial is a registered trademark of Tim Hortons Canada.
FAQs
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.
Explore the latest articles
BoC rate update: Optimism over possible 0.25% cut
Experts cautiously predict a 0.25% rate cut by the Bank of Canada on Jan 29
Disclaimer
The content provided on Money.ca is information to help users become financially literate. It is neither tax nor legal advice, is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional. We make no representation or warranty of any kind, either express or implied, with respect to the data provided, the timeliness thereof, the results to be obtained by the use thereof or any other matter. Advertisers are not responsible for the content of this site, including any editorials or reviews that may appear on this site. For complete and current information on any advertiser product, please visit their website.
†Terms and Conditions apply.