In October 2020, Capital One announced that it was pulling out of store credit cards in Canada, directly impacting Costco and Hudson’s Bay customers (with nearly 2 million Hudson’s Bay credit card customers).

While we still don’t know who will replace Capital One at Costco Canada, we know today that Hudson’s Bay has chosen Neo Financial to issue a new Mastercard credit card.

With the new Hudson’s Bay Mastercard – with no annual fee – you earn double the points in-store and at thebay.com (up to 4 points per dollar). That’s 1-2% cash equivalent.

For all other purchases, you can earn 2 points per dollar or 1% cash equivalent.

Besides, you can also earn cash back from Neo partners, including most major gas and grocery stores, restaurants, gyms, coffee shops, and more. To learn more about Neo’s cash back program, check out this article.

With this new credit card, you can get between 1 and 2% cash back that you can only use at Hudson’s Bay. If you prefer to get a more flexible cash back credit card, check out one of these rankings:

One of the best choices is the SimplyCash™ Preferred from American Express. With this card, you get 2% cash back on all your purchases, with no annual limit. This cash back is then credited to your credit card statement.