In this article, let us take a look at all the benefits and features of the Hudson’s Bay Credit Card, its Pros and Cons, Fees if any and then help decide if it is right for you.
Hudson’s Bay is one of the largest and premier department stores in Canada. It is a chain of over 90 departmental stores operating within the Netherlands and in Canada. It’s been around for a very long time; the origin can be traced back to 1881.
Hudson’s Bay offers a wide variety of services and products to its customers. From apparel to home products, to beauty products, everything can be found here.
Hudson’s Bay Credit Card
If you are interested in applying for the Hudson’s Bay credit card, you can apply for one at the Hudson’s Bay or Home Outfitters store.
When you use your Hudson’s Bay Mastercard outside of Hudson’s Bay and thebay.com, you get 2 points for almost every $1 you spend and a 25% bonus twice a year on those points. (The 25% bonus will appear on your credit statement in January and July, and is calculated based on the total points you’ve earned in the previous six months).
Also Read – Top 7 Free Chequing Accounts In Canada
Capital One Bank is offering the Hudon’s Bay credit card, which is a trademark of Capital One Financial Corporation.
10 Benefits Of The Hudson’s Bay Credit Card
1. Hudson’s Bay Credit Card Charges – If you have a Hudson’s Bay Credit Card, you would be paying annual interest at the rate of 29.9 percent. However, there are no yearly charges of the card. This makes it very appealing since the majority of the credit cards have a hefty annual fee.
2. Interest-Free Grace Period – You are offered a grace period of 21 days, which are interest-free on new purchases when you get your card, or if you pay off the full balance, before the due date. However, there is no grace period offered on any transfer of balances or on advance payments of cash.
3. Hudson’s Beach – There are a ton of benefits of having a Hudson Bay credit card. Especially, if you are one who enjoys shopping at Hudson Beach. Some of these advantages and benefits that you would get by having the Hudson’s Bay credit card are listed below.
4. Rewards Red Card – Though the standard reward card offers you many perks and benefits, however by applying for the credit card you’ll get a lot more benefits and rewards. All you’ll have to do is use your rewards red card along with the credit card every time you purchase at the store.
5. Two Points per dollar spent – By using the Hudson’s Bay credit card with your reward card, you would be doubling up your rewards. This means that for every one dollar instead of getting two points, you’ll now be getting four points.
6. Convert Points to Cash – With the Hudson’s Bay credit card, you have the option to convert your points to cash anytime. So now, you can redeem your reward points in the form of gift cards, which you can then use at theBay.com, Home Outfitters, and Hudson’s Bay stores.
7. Access to Exclusive Events – With the Hudson’s Bay credit card, you can get access to exclusive events all year round. The store offers over twenty such saving events. The benefit is that you can enjoy extra savings at these events with your credit card. If you are a member and a holder of the credit card you would be notified of these events beforehand.
8. 90 Day Return Policy – Every time you use your credit card at any of the Hudson’s Bay Company stores, you would get access to return the product within 90 days. Along with this, you can even get free shipping on certain items at theBay.com, however, to avail this you would have to comply with the minimum purchase on the website.
9. Interest-Free Payments – If you are offered the special payment plan when applying for a Hudson’s Bay credit card, you can get access to very lenient payment programs. You can get the option to pay through 24 months and make smaller payments every month. You can also get the advantage of making interest free payment on some of the items offered.
Hudson’s Bay Rewards Program
There are three tiers to the Hudson’s Bay Rewards program. The more you spend at Hudson’s Bay Company stores, the higher the tier you’ll reach, and the more Rewards points you’ll earn.
1. Hudson’s Bay Rewards
2. Hudson’s Bay Rewards Plus
3. Hudson’s Bay Rewards VIP
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Features Of The Hudson’s Bay Credit Card
Below are the top four features of the Hudson’s Bay Credit Card in 2019 –
1. Can Be Used Only At Hudson’s Bay
The first thing that you need to keep in mind when applying for a Hudson’s Bay Credit Card is that you can use it only at the Hudson’s Bay stores, thebay.com, or Home Outfitters.
Also, you cannot use this card in any other place or store. This limits the use and benefits of the card, as you would be applying for a credit card only to be used at a single chain of stores. Therefore, you need to understand this limitation, before you go out and get one.
2. High-Interest Rates
Store credit cards, like the one being offered by Hudson’s Bay, can have very high interest rates. As already discussed, Hudson’s Bay Credit Card has an annual interest rate of 29.9%.
This is more than twice the interest rate of credit cards being offered by banks in Canada. However, there are benefits of Hudson’s Bay Credit Cards; it also has some drawbacks.
3. Can Only Be Used for Hudson’s Bay Shopping
The capitol one credit card that Hudson’s Bay is offering to its customers can only be used for shopping purpose at its chain of stores.
You may not use the card at other stores, also you cannot use it for any other purposes at all.
The Hudson’s Bay credit card cannot be used for insurance purposes of any sort too. This limits the use and purpose of the credit card.
Also Read – 7 Quick Ways To Maximize Your PC Optimum Points
4. Affect’s Your Credit Rating
If you exceed your credit limit on this card, it will affect your overall credit score. Since this information would be shared with other banks as well, it can hurt your total credit score.
You will easily blow your credit limit on these shopping credit cards as the threshold limit is very low.
Therefore, you may not even shop that much, but easily exceed your limit on the card.
How Can I Earn More Points At Hudson’s Bay and thebay.com?
You can double your points when you use your Hudson’s Bay Mastercard or Hudson’s Bay Credit Card with your Hudson’s Bay Rewards Card at Hudson’s Bay and thebay.com. That means you can earn up to 4 points per $1 with the Rewards VIP tier. Click here to learn more about the Rewards tiers.
Also Read – 7 Quick Ways To Maximize Your PC Optimum Points
How Do I Redeem Hudson’s Bay Credit Card Points?
You can redeem your Hudson’s Bay Rewards points for Hudson’s Bay Gift Cards in stores or online. Points can be redeemed in stores starting at 2,000 Hudson’s Bay Rewards points for a $10 Hudson’s Bay Gift Card, or online starting at 5,000 Hudson’s Bay Rewards points for a $25 Hudson’s Bay Gift Card.
What Counts As A Purchase Visit?
Here are some examples of how a purchase visit is defined:
Multiple purchases made in the same store on the same date count as 1 purchase visit.
Purchases made in 2 different stores on the same date count as 2 purchase visits.
Purchases made in the same store on 2 different dates count as 2 purchase visits.
A purchase made in a store and a purchase made online on the same date count as 2 purchase visits.
How Do I Qualify For The Different Rewards Tiers?
To be promoted to a higher tier, you must:
Make at least 2 purchase visits to Hudson’s Bay or thebay.com in a calendar year (January 1 to December 31).
Use your Hudson’s Bay Rewards Card when making your purchase.
Meet each tier’s annual net purchase total (purchases before taxes and net of any returns at Hudson’s Bay and thebay.com). Rewards Plus: $400-$1,199.99; Rewards VIP: $1,200 or more.
Though there are many benefits of owning a credit card offered by Hudson’s Bay, at the same time there are also certain drawbacks.
It’s up to you to decide whether you should get this credit card or not.
If you are someone who shops a lot at Hudson’s Bay or thebay.com, then this card might be the right one for you.
However, if you are the type of person who only does basic shopping, then you need to see if the rewards system and benefits are of any use to you.
Overall my review is very positive, this credit card is one of the best store credit cards offered in the market, offering its customers with many benefits.
Please let me know your thoughts and comments below.