Tim Hortons ending credit card rewards program in October
The coffee chain is shutting down its three-year-old credit card program, citing a shift toward new value offerings.
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Tim Hortons is pulling the plug on its credit card rewards program as of October 1, marking the end of another foray into financial services by the chain.
The company said in an update to customers that the Neo Financial-powered card program—launched in June 2023 as an appeal to Canadians seeking accessible financial products—will cease as of that date. Cards will continue to function after the shutdown, but will be managed by Neo Financial and transactions will no longer earn Tims Rewards Points.
Eligible customers can upgrade to a Neo Financial Mastercard with cashback instead. The move follows Tim Hortons' earlier venture into finance: a partnership with CIBC on the "Double Double Visa Card" that ran from 2014 to 2019.
The company said it is exploring "new ways to bring value to Canadians" but did not elaborate on what those might be. The shuttering reflects the competitive pressure and operational complexity of maintaining a co-branded financial product—a challenge that has felled similar initiatives across the retail sector.