Tim Hortons has confirmed that it is discontinuing its Neo Financial-backed co-branded Mastercard program effective October 1, 2026. This is the second time the coffee chain has exited the credit card business; Its previous partnership with CIBC on the Double Double Visa Card, launched in 2014, was discontinued in 2019.
This time, the Neo-powerful Tims Mastercard was launched in June 2023 and will work for a little over three years.
If you’re one of the affected cardholders, here’s exactly what’s changed, what’s happening to your points, and which alternative cards are worth considering, starting with the two strongest options: Neo Secured Mastercard and SELECT Mastercard.
Quick Summary
- Closing date: October 1, 2026
- Why: Tim Hortons says it is looking for “new ways to bring value to Canadians” and is ending its co-brand partnership with Neo Financial.
- Your card: It will continue to work after October 1, but as a regular Neo Financial card, not a Tims branded card
- Tims Reward points: After October 1, transactions stop earning points; points already earned remain redeemable but expire 12 months after earned
- Necessary actions: Eligible cardholders can switch to a Neo cash back card without a new application or credit check; doing nothing results in a standard Neo card with no rewards
- Effect of credit score: According to Neo Financial, none were expected because your history is being transferred rather than being closed
Exactly What Happens
Co-branded credit cards exist because of a commercial partnership between a retailer and a financial institution, in this case Tim Hortons and Neo Financial. When the licensing agreement ends, as it did here, the brand card disappears, no matter how long you keep it.
This type of cancellation is quite common in the industry: issuers and brands regularly renegotiate these deals, and the program is terminated when the terms make sense for one or both parties.
Canada’s federal banking regulator, the Financial Consumer Agency of Canada (FCAC), requires issuers to provide advance written notice to cardholders before a credit card account is closed or significantly changed, but this required notice window can be as short as 30 days, and it does not guarantee that your points will retain their value during the transition.
If you have not received notification from Neo Financial or Tim Hortons regarding this change, expect one before October.
The best alternatives to Tims Mastercard
Whether you’re planning to take up Neo’s trade-in offer, switch to a completely different Neo card, or switch to another issuer entirely, here are the strongest options worth comparing.
| Card | Payment | Awards | Confirmation type | Best for |
| Neo Secure Mastercard | $96/year ($7.99/month) | 1% gas/groceries | Guaranteed (guaranteed) | Credit building + money back |
| KOHO Mastercard (Prepaid) | Free (essential) | 1% cash back (up to 5% on partners) | No credit check | Credit building + money back |
| Mandarin refund | $0 | 2% in 2-3 selected categories, 0.5% elsewhere | Standard credit check | No commission category cashback |
| PC Finance Mastercard | $0 | PC Optimum scores higher on Loblaws banners | Standard credit check | Food buyers |
| Capital One Guaranteed Secure Mastercard | $59-$79/yr | None of them | Guaranteed (guaranteed) | Lowest price guaranteed approval |
| Home Trust Secure Visa | $0-$59/year | None of them | Guaranteed (guaranteed) | Greatest deposit flexibility |
1. Neo Secured Mastercard
Because your Tims Mastercard is already issued by Neo Financial Neo Secure Mastercard is the most direct and lowest-friction alternative, and in many cases Neo will offer you as an upgrade path.
It’s one of the only secured credit cards in Canada and a real differentiator in a secured card category where most competitors offer no rewards.
- Payment: $7.99 per month ($95.88 per year), although this can be waived by keeping at least $5,000 in a Neo Checking Account
- Awards: Across Neo’s network of over 10,000 partner retailers, on average 5% cash back (ranging from 1% to 15% depending on the specific partner) plus 1% cash back on gas, EV charging and groceries up to a monthly spending limit.
- Deposit: The minimum that sets your credit limit is $50, adjustable up to $10,000
- Confirmation: Guaranteed, no hard credit check required, making it available even with poor or no credit history
- Credit report: Provides monthly reporting to Equifax and TransUnion, which helps build a complete credit history
Welcome bonus: buy a $25 welcome bonus when approved
Neo Secure Mastercard
Awards: Get up to 5% cashback on purchases at Neo partner stores.
Nice offer: $25 welcome bonus.
Interest rates: 19.99% – 29.99% for purchases; 22.99% to 31.99% for cash advances.
Annual fee: $7.99 per month
Credit limit: It starts at $50.
Credit score required: Poor or bad credit score.
2. SELECT Mastercard
KOHO offers a reloadable prepaid Mastercard rather than a traditional credit card, making it a fundamentally different but very practical alternative for ex-Tims Mastercard holders who use their cards for everyday expenses and simple cash back instead of building credit.
- Payment: Free on Essential plan*
- Awards: 1% cash on food, transport and food/beverage (Essential); Up to 2% back on the Everything plan, plus 0.5% back on all other purchases above. Get up to 5% cashback at partner stores
- Confirmation: Since it is a prepaid card and not a line of credit, no credit check is required. You can only spend what you upload to it.
- Credit building: KOHO offers an optional Credit Building add-on that lets you build credit even though the primary card itself carries no debt or interest, reporting a positive payment history to the credit bureaus.
- Extras: Built-in budgeting tools, spending data, and (on paid plans) high-interest spending balance
buy a $40 welcome bonus When you buy a KOHO Mastercard and make your first purchase of $20 or more.
$40 welcome bonus After your first purchase of $20 or more (use GETCASH promo code during registration)
$0 monthly fee*
Earn up to 5% unlimited cashback
Get up to 3.50% savings interest on your balance
Unlimited Interac eTransfers and debit transactions
Cheap international money transfers
Free budgeting software and access to the loan building
The best Canadian personal finance software
Easy access to low-fee cryptocurrency trading
3. Tangerine cash back credit card
A no-fee cash back card that lets you choose two (or three, with a Tangerine bank account) spending categories to earn a whopping 2% cash back rate, with 0.5% on everything else.
This can be a good option for ex-Tims Mastercard holders with established credit who want strong daily cash back with essentially no monthly costs.
4. PC Financial Mastercard
A fee-free card that earns strong PC Optimum points, especially for households that regularly shop at Loblaws-owned banners, including Loblaws, No Frills, Shoppers Drug Mart and Esso/Mobil gas stations. If your Tims visits were part of a larger pattern of loyalty program grocery and gas spending, PC Financial’s points can be meaningfully accumulated at no cost.
5. Capital One Guaranteed Secured Mastercard
For those who specifically want a secured card without the added cost of Neo’s monthly fee, Capital One’s guaranteed secured option costs $59-$79 per year (standard rate or discounted rate with choice of lower interest rate), no rewards program, but a simple, inexpensive way to build or rebuild credit.
6. Home Trust Secured Visa
Home Trust offers one of the more flexible secured cards on the market, with a security deposit starting at $0 (standard 19.99% interest rate) to $59 per annum (reduced 14.90% interest rate) and $500 minimum, the highest of the options listed here.
It doesn’t offer any rewards programs, but it remains one of the cheapest ways to build credit if you don’t need a refund.
How to choose
- Want cash back while building or rebuilding your loan? Neo Secure Mastercard is the strongest combination currently available in Canada
- Want to avoid credit altogether and keep things simple? SELECT Mastercard (prepaid) is compatible with an additional credit creation add-on if you change your mind later
- Already have good credit and just want free cash back? Mandarin Cashback or PC Finance Mastercard depending on your regular spend categories
- Don’t care about building credit and rewards at all? Capital One Guaranteed Secured or Home Trust Secure Visa will cost you the least over time
Frequently asked questions
When exactly does the Tims Mastercard program expire?
Tim Hortons has confirmed that its co-branded credit card program will close on October 1, 2026. Existing cards will continue to function as regular credit cards issued by Neo Financial after that date, but transactions will no longer earn Tims Rewards points.
What happens to my existing Tims Rewards points?
According to Neo Financial, points earned before October 1, 2026 remain redeemable, but they expire 12 months after they are earned, as always. No extensions or grace periods are granted due to program closure. Log in to your Tims Rewards account and redeem or check your balance before the deadline.
Do I need to apply for a new card?
No. Eligible Tims Mastercard holders can switch to a Neo Financial cash back credit card without a new application or credit check. If you take no action, Neo will automatically issue a replacement Neo-branded card, although this default replacement will not include refunds or rewards unless you actively opt-in for an upgrade.
Will this affect my credit score?
According to Neo Financial, the closure will not affect cardholders’ credit scores. Your account history is transferred to a replacement card rather than being closed directly, which avoids the usual negative impact of a closed account on your credit utilization ratio and average account age.
What is the difference between a Neo Secured Mastercard and a regular Neo Mastercard?
The Neo Secured Mastercard requires a refundable security deposit ($50 minimum) that sets your credit limit and is designed to build or rebuild credit with guaranteed approval regardless of credit history. The regular fee Neo Mastercard is an unsecured card that requires standard credit approval. If your credit is already in good standing, the unsecured version completely avoids the $7.99 monthly fee.
Is it a KOHO credit card?
No. KOHO is a prepaid Mastercard, not a credit card. You can only spend what you load onto it, so there are no credit checks, no debt, and no interest payments. KOHO also offers an optional Credit Building add-on that reports to the credit bureaus, which can help build credit history even if the primary card itself isn’t a line of credit.
Related:
