Canadian coffee company Tim Hortons has announced plans to launch a new credit card. The Tims® Credit Card is a Mastercard® that can be used to earn Tims Rewards Points, which in turn can be used to get free food, coffee, and other drinks at the coffee shop.
“Tims® Financial is a new division of Tim Hortons that is committed to giving Canadians convenient and powerful financial tools to manage their everyday finances,” a release from Wednesday morning reads.
Holders of the card can earn points by using their Tims Credit Card while shopping anywhere. The card also gets users up to five points per dollar spent on most gas, groceries, and transit purchases. Plus, you can earn up to 15 points per dollar on eligible purchases at Tim Hortons restaurants.
The new card is a Mastercard®, powered by Neo Financial™, and has no annual fee. The card is also integrated with the Tim Hortons app, so users can apply for the card, get approved and check their balance from their cellphone.
“With almost five million Canadians actively using our Tim Hortons app every month, it became obvious that we could offer our most loyal guests a way to earn Tims Rewards Points even faster with everyday spending and higher points on most gas, grocery and transit purchases,” Markus Sturm, senior vice president of Digital, Loyalty and Consumer Goods at Tim Hortons, said in a release on Wednesday.
The company is also creating a version of the Tims Credit Card that will be available to Canadian residents with limited or no credit history, including students and newcomers to Canada. The card will both allow them to earn points and help to build their credit, according to the news release.
The card is set to be available in the coming months, and a waitlist is now available for those interested in signing up.
