Tim Hortons Credit Card (Tims Card) Review 2024

• Current welcome bonus is up to 5,000 points. Must apply and be approved by May 31, 2024 (Terms and conditions apply)
  • Earn your first 2,000 points when you make your first purchase within the first 30 days of account opening
  • Spend $200 in each of the first three months to earn 1,000 points in each of them.
• Earn 5 points per dollar in groceries (Walmart and Costco not included)
• Earn 5 points per dollar at gas and EV charging stations.
• Earn 5 points per dollar on transit, taxi, and ridesharing programs.
• Earn 15 points per dollar when you scan for Tims Rewards at Tim Hortons restaurants.
• Earn 1 point per $2 everywhere else.
• Tims Rewards can be converted to statement credit that can be used to help pay off your credit card statement (converted to a maximum of $45 per week)
• Extended warranty up to $1,000 per incident
• Purchase protection up to $1,000 per incident
• Access to Tims Financial Support Centre
• Mastercard Zero Liability

Tim Hortons is an iconic Canadian coffee shop with locations in even the smallest of towns, so the idea of a Tims credit card is pretty attractive to Tim Horton’s customers across the country.

The Tim Hortons credit card—or Tims Card—is a no-annual-fee credit card that allows cardholders to earn rewards on all purchases and accelerated rewards on everyday spending categories. However, the earn rate for this credit card is lower than some others on the market, even if it’s higher than most store cards. Also, when it comes to redeeming rewards, the Tims credit card lacks the flexibility that other credit cards offer.

That being said, if you find yourself at Tim Hortons multiple times a week picking up your morning coffee or grabbing a sandwich for lunch, then it might be worth it for you. Just be mindful that points expire after 12 months so you need to use them before you lose them.

Quick Facts

• Cardholders will earn Tim Rewards on all purchases with accelerated points on categories like grocery, gas, transportation and Tim Hortons purchases.
• Cardholders can redeem points for purchases at Tim Hortons or use them towards their Tims credit card statement. (Keep in mind, you can only use points to pay off 6% of your statement balance, up to $45 every week.)
• Points will expire after 12 months so check your app settings and use them regularly rather than hoarding them for more free menu items at once.

Earning Tims rewards is easy with the Tims credit card. All you need to do is use it. Every purchase made with your Tims credit card will earn you rewards that you can then redeem for Tims products or use towards your credit card statement.

Earning Rewards

Tim Hortons credit card holders will earn rewards with every purchase they make. All purchases will earn at least 2 points per dollar spent. However, there are several categories which will allow you to earn at an accelerated rate. Groceries (not including Costco or Loblaws), gas, EV charging and transit (including taxis and rideshares) will earn 5 points per dollar spent. Purchases at Tim Hortons restaurants have the biggest earn rate of 15 points per dollar when you scan the app there. If you forget to scan the app when you use your Tims Card at Tim Hortons restaurants, you will only earn 5 points per dollar.

Redeeming Rewards

When redeeming rewards, the credit card will be linked to your app so you can manage your points from there.

Tims Rewards can be used for two things: Tim Hortons purchases and statement credits.

For purchases made at Tim Hortons restaurants in Canada, there are some things to know. Different food and drink items have different points values and you cannot do a partial redemption and pay for the balance in cash. You can also only redeem for one eligible menu item per transaction. If you have enough points to redeem for a second eligible menu item, you have to wait 30 minutes before completing the second transaction.

Below is how many Tims Rewards points you will need before you can redeem for a specific menu item and how much you will need to earn that redemption level of Tims Rewards. Items hover from two to three cents per point when rounded to the nearest point. With drinks, large drinks are closer to three cents per point and small or medium drinks are closer to two cents per point.

*Cents per point value on menu items rounded to the nearest cent.

The second option for redemption is to use your Tims Rewards towards your Tims credit card statement. However, there are limitations. If you want to redeem them for a statement credit, it can only be for a value of $5 up to $45 (in $5 increments) every seven days.

Rewards Potential

Earning and redeeming points is easy with the Tims Credit card, but the value isn’t exactly amazing. For example, you need 300 Tims points to get a classic donut. That means you would need to spend $60 at the grocery store (earn rate 5 points per dollar) to get a free donut, which otherwise, would cost you about $2 in cash.

Now, if you love free donuts, then maybe it’s a good choice for you. However, for comparison, if you spent that same $60 at Loblaws using the PC Insiders World Elite Mastercard, you would earn 2,400 points ($60 x 40 points). That equals over $20 in groceries. Even if you are a donut lover, that still translates to a lot more donuts.

• New card members can get a 5,000 point welcome bonus. To receive this offer cardholders will earn 2,000 extra points on their first purchase and then an additional 1,000 points for spending $200 or more each month, for the first three months of card membership
• Cardholders can take advantage of extended warranty for most items purchased on their Tims credit card. The warranty will be extended for up to one year up to $1,000 per incident
• Cardholders will also have purchase protection on most items purchased with their Tims credit card. Valid for 90 days after purchase up to $1,000 per incident

Interest Rates

• Purchase APR: 20.99%
• Cash Advance APR: 22.99%
• Balance Transfer APR: N/A

Fees

• Cash Advance Fee: N/A
• Balance Transfer Fee: N/A
• Foreign Transaction Fee: 2.5%
• Annual Fee: $0
• Any Other Fees: N/A

Tims Card vs. MBNA Amazon.ca Rewards Card

The MBNA Amazon.ca Rewards Card is another no-annual-fee credit card. Rather than earning Tims points, this credit card will earn cash back on all purchases, which is much more flexible. Since it is co-branded with Amazon.ca, the highest earn rate will be for Amazon.ca purchases. Cash-back rewards can be directly applied to eligible Amazon.ca purchases. Aside from different brands, one notable perk that this MBNA Amazon card has over the Tims card is that it offers 1% to 2.5% (depending on whether or not you are a Prime member) on foreign exchange fees which can be very handy for in-person purchases abroad or online shopping from a vendor in another country.

Tims Card vs. CIBC Costco Mastercard

The CIBC Costco Mastercard is also a no-annual-fee card. Earn rates vary from 3% to 1% cash back but, interestingly enough, regular Costco purchases fall under the lower 1% category, rather than an accelerated rate. However, keeping with our donut example, 1% cash back on the same $60 in groceries is still more valuable than a $2 donut. That being said, it depends on where you do your grocery shopping. The CIBC Costco Mastercard is only more beneficial if you shop at Costco, both in-person and online, and/or you fill up your car at Costco gas stations.

Tims Card vs. PC Insiders World Elite Mastercard

The PC Insiders World Elite Mastercard has an annual fee of $120, which is steep compared to the $0 annual fee of the Tims Card. However, if you are looking for a card that will maximize your earn rate on groceries, then the PC Insiders World Elite Mastercard comes out on top. As shared in the example earlier, $60 on groceries with this card will earn you over $20 in free groceries whereas the same $60 on the Tims Card will earn you a single donut. With the PC Insiders World Elite Mastercard, you will still earn accelerated rates on other categories like gas and drug store purchases, and earn a base rate on all purchases. Plus, this card has more perks and benefits including travel insurance.

When determining a rating for individual credit cards, the Forbes Advisor Canada editorial team factors in an exhaustive list of data points. With this card, the scoring model used takes into account factors such as, but not limited to, rewards rates and categories, fees, welcome bonuses and other benefits and features. Keep in mind, what may be best for some people might not be right for you. Conduct informed research before deciding which cards will best help you achieve your financial goals.

If you are a Tim Horton’s regular and are looking to get good value for your Tim Horton’s purchases then this card might be worth it just to have in your wallet for those Tims runs. However, there are other cards on the market, including no-annual-fee cards, that have better points value and are more flexible in what you can get with your rewards. If you are looking for a credit card with more benefits or options for reward redemption, there are better options out there.