Tim Hortons scraps loyalty credit card by October
The coffee chain is shutting its Neo Financial-powered card program in October after three-year run, shifting cardholders to a Mastercard alternative.
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Tim Hortons is closing its branded credit card program on October 1, ending a three-year experiment in financial services that launched in June 2023.
The company says cardholders can keep using their cards after the shutdown date, but transactions won't earn Tims Rewards Points anymore. Those holding the card can upgrade to a Neo Financial Mastercard with cashback rewards instead.
The move marks the second time Tim Hortons has stepped back from co-branded credit. In 2019, the chain discontinued a CIBC Visa launched in 2014. The company framed the closure as part of exploring "new ways to bring value to Canadians."
Cardholders who held the card through its entire three-year life saw a loyalty program that promised exclusive perks but ultimately didn't stick. The shift suggests the chain is refocusing on its core coffee and food business rather than banking partnerships.