Tims® Mastercard

• 

  Purchase Protection

  90 days
• 

  Extended Warranty

  1 year

The Tims® Mastercard card is the only non-secured Credit card offered by Tims Financial. In this comprehensive review we will go into the details of this card and whether it's a good choice for you or not.

The Rewards

How You Earn Rewards

You may earn rewards on your purchases as:

• 15x points per $1 when you scan for Tims Rewards
• 5x points per $1 on groceries (excluding Walmart and Costco), gas & EV charging, transit, taxi's & rideshares up to to 100,000 points per year
• 0.5x point per $1 dollar on everywhere else

In the next section, we’ll dive into more details on how to redeem your Tims points, but it’s useful to know upfront that the value of Tims points typically ranges from 0.4 to 0.6 cents per point when redeemed at Tims, or around 0.17 cents per point when redeemed towards statement credit.

If you’re able to maximize your points value at 0.6 cents per point, purchases in categories that earn 5 points per dollar would translate into a 3% return, which is decent for specific types of spending like at Tim Hortons or on transportation and groceries. For new cardholders or those with lower credit scores looking for a straightforward rewards structure, this can be a valuable starting point.

However, for a points-based card, this 3% rate is relatively standard. Other points-based cards on the market might offer higher returns, especially on broader categories. Additionally, cashback cards may offer similar or even higher rates while providing greater flexibility in how rewards are redeemed, which could appeal to users looking for more control over their rewards.

One area to consider is purchases made outside of the main reward categories. Here, you’ll earn 0.5 points per dollar spent, which equates to roughly 0.3% cashback. While this rate is on the lower side compared to other options in the market, it may still be suitable for users who focus on spending within the high-reward categories.

How You Redeem Rewards

Tims rewards could be redeemed for items at Tim Hortons for different food items.

Redeeming for different items could give you different values. In general, the redemption value of each point is anywhere from around 0.4 cents up to 0.6 cents.

Looking at a few examples at reward levels for finding the best redemption:

It looks like the Coffee and the second redemption Tier will give you the best value when redeeming your points at Tim Hortons!

1 Benefit of the Tims® Mastercard

Easy Approval

One of the standout features of the Tims® Mastercard is its accessibility. It doesn’t have strict application requirements—there are no income requirements, and only a good credit score is necessary. This makes it an attractive option for individuals new to credit or those with lower credit scores who are looking to start building their credit history.

2 Things to Consider About the Tims® Mastercard

1. Cashback and Rewards Rates

While the Tims® Mastercard offers decent cashback on groceries, transportation, and Tim Hortons purchases, the overall rewards may not be as competitive as other cards in the market. Since it's a points-based card, you might expect higher returns, but that isn't always the case here. For example, the reward rates in categories outside of those mentioned—like general purchases—are quite low, around 0.3%.

If you're someone who frequently makes purchases outside the core reward categories, there are other credit cards available that may provide better overall rewards. However, for someone who primarily spends at Tim Hortons and similar categories, this card can still be a useful entry-level option.

2. Basic Benefits

The Tims® Mastercard covers the essentials—like purchase protection and extended warranty—but it doesn’t go much beyond that. Some cards, even no-annual-fee ones, offer extra perks such as no foreign transaction fees or roadside assistance, which are not available with this card. Additionally, while the purchase protection and extended warranty coverage is helpful, the limits are lower than what you’ll find on many other cards. For example, while some cards cover up to $50K for purchase protection, the Tims card offers up to $1K.

For someone looking for more robust benefits, especially for travel or higher-value purchases, other cards may be a better fit. However, if you’re focused on the essentials and don’t need additional perks, the Tims® Mastercard might still work for your needs.

Final Verdict

The Tims® Mastercard is a solid choice for those looking for an easy entry into the world of credit cards, particularly for newcomers or individuals with lower credit scores. While it may not offer the best rewards or extensive benefits, it serves as a good stepping stone for building credit. That said, if you’re someone who wants to maximize rewards or enjoy premium benefits, there are certainly better options available. Depending on your spending habits, this card may or may not be the best fit for you as a main card, but it can certainly serve a purpose for more niche spending.