Tangerine Credit Card

9.5/10

Interest Rate

19.95%

Annual Fee

$0

Balance Transfer

19.95%

Card Type

Cash Back

Earn an extra 15% back (up to $150) on up to $1,000 of your everyday purchases in the first 2 months with a Tangerine Money-Back Credit Card

  • Monthly Money-Back Rewards
  • Unlimited Money-Back Rewards
  • Personalized Categories

The best thing about Tangerine Money-Back Credit Card is it helps you save money with each purchase or payment. This means you get cashback every time you use the card. When applying for the card, you can select preferred categories of products and services that you intend to collect cashback for. The categories cover a wide range of purchases, from groceries to home improvement.

The tangerine credit card has no annual fee, and you receive cash back each time you use the card. You can receive 2% money-back rewards for two chosen categories, and 1% money-back rewards on all other purchases.

Signup/Welcome Bonus

  • Accepts balance transfers at a welcome interest of 1.95%
  • Permanent residents of Canada eligible for this card

Card Best Suited For

Tangerine Money-Back card is best-suited for users with a low annual income of $12,000 per year. It’s also great for debt consolidation since the company permits balance transfers at an affordable 1.95% rate of interest. Aside from the 0% annual fee, you can earn 0.5% cashback on any purchases you charge to the card irrespective of your chosen category. This feature translates into significant savings over time as you continue using the card. Users looking to set up a monthly automatic payment system to clear their monthly bills can use the facility provided by the Tangerine Money-Back Card.

Card Details

The Tangerine Money-Back Card offers not just a 0% annual fee, but also the opportunity to earn cash as you spend. On purchasing the card, you’ll select two categories depending on your usual spending habits and avail of 2% on every purchase you make in that category. There are no limits on the total savings you can make. As for eligibility, you can qualify for this card if you can provide proof of permanent residency in Canada. You’ll also prove that you’re a major in the province or territory where you’re applying for the card. When assessing your application Tangerine requires that you have a gross annual income of at least $12,000.

Additional qualifying criteria include a credit score ranging from 740 to 850 and that you haven’t had a bankruptcy in the last 7 years. If you wish to transfer balances to the Tangerine Money-Back Card, you can avail of the welcome interest rate of 1.95%. However, this minimum interest is only valid for the next 6 months and you will be required to execute the transfer within 30 days of purchasing the card. One of the best benefits of getting the Tangerine Money-Back card is that you can set up monthly payments to take care of recurring bills each month.

Earn cashback

Earn 2% Money-Back Rewards on your everyday purchases in two 2% Money-BackCategories of your choice, and 0.50% Money-Back Rewards on all your other everyday purchases.

Earn extra Rewards

Get your Rewards deposited into your Tangerine Savings Account and get a 3rd 2% Money-Back Category.

Automatic earning

Money-Back Rewards are earned automatically on everyday purchases and paid monthly. These can be applied to your Credit Card balance or redeemed into your Savings Account.

No limits

No limit on the amount of Money-Back Rewards you can earn on your everyday purchases. Conditions apply.

Transfer and save

During your first 30 days, transfer balances and pay only 1.95% interest on the transferred balance for the first 6 months (19.95% after that).†

Track and categorize your spending

Organize your transactions and stay on top of your spending, so you can see your financial habits and you’ll get a better idea of what you have left to spend each month.

The Tangerine Credit Card gives you 2% cashback in up to two money-back categories of your choice*. Cashback for other categories is 1%. There are no hidden details, limits or restrictions. These features make Tangerine cashback credit card one of the best in the country.

What Customers Love About this Card

Annual Fee: $0

That’s right – you don’t have to pay anything for this cashback credit card. What’s better is that you can keep it in your wallet along with other cashback credit cards and continue to earn more rewards.

No Limitations

Nothing can match the excitement of having a credit card that offers unlimited cash back. Whether it is bonus categories or other eligible purchases; there is absolutely no limit to how much cash back you can earn.

2% Cash Back on Bonus Categories

Once your promotional period ends, you can select up to two bonus categories to earn 2% cash back on purchases without any limitations or questions asked. If you decide to redeem your cash back as a credit, you have the option to choose any two categories. However, you get a fabulous bonus. You can request to have your cash back earnings deposited directly into your Tangerine Savings Account. In this case, you’ll get the chance to choose a third bonus category for free.

All other eligible purchases receive 1% cash back.

 

Is Tangerine Money-Back Credit Card the Right Card for Me?

The Tangerine cash back credit card is the card you need if you are looking for the best combination of value, choices, and convenience. There is no annual fee and you have the chance to choose up to two bonus categories to earn 2% cash back.

And this is not all!

  1. Tangerine cash back credit card offers 2% cashback in two money-back categories plus 1% for all other eligible purchases. Why should you go for any other credit card? Tangerine gives you better value and more importantly, it costs nothing to earn these rewards.
  2. You can always pair your Tangerine cashback card with other cashback cards with different bonus categories. For example, if you are using Tangerine to earn 2% cash back on a grocery store trip, you can choose another card to earn cash back on entertainment, furniture and home improvement.
  3. Unlike other cash back credit cards where you are required to show a personal income of $60,000 or more, the Tangerine credit card only requires $15,000 as personal income. Considering the benefits you get with this card, the Tangerine credit card is better than many of the other premium alternatives available.
  4. With the Tangerine cash back credit card, it is easy to be smart with your money. You don’t have to wait to earn your cash back. All cash back rewards you earn will be directly delivered to you and now there’s no reason you should not give this exciting credit card a try.

 

Comparing Pros and Cons of Tangerine Cash Back Credit Card

If you want to figure out whether this credit card is right for you, take a closer look at the fine print.

This credit card is a great choice if:

  • You are looking for a cashback credit card that helps you earn exciting rewards without having to pay an additional (annual) fee.
  • You want to grow your savings.
  • You want to make your shopping work for you.
  • You are a responsible user and never carry a balance on your credit card.
  • You love travelling but don’t want to invest in an expensive travel reward.
  • You prefer eating out with friends and family.
  • You are a frequent traveller and need to pay your gas, parking bills.
  • You spend a large chunk of your money on drugstore purchases and groceries.
  • You are interested in renovating your home.

Tangerine Cash Back Credit Card Might Not Work for You If:

  • You have the habit of carrying a balance on your credit card every month.
  • You are travelling frequently and you want a credit card that offers additional insurance coverage.
  • You want a credit card that offers lounge access, and other high-end perks.
  • You are interested in earning specific rewards such as AIRMILES or you want to have the ability to convert to earned points.
  • You want to trade in your reward points for travel or other merchandise.

Other Tangerine Cash Back Credit Card Details You’ll Find Interesting:

  1. You can save big on your next international trip with the lowest foreign 1.5% conversion fee.
  2. You can share the wealth by adding authorized users to your account at no additional cost.
  3. Keep track of your account activities with the help of Orange Alerts. When subscribed to email alerts you would know what’s happening in your account.
  4. Tangerine credit card gives you up to $60,000 in protection no matter where you are in the world.
  5. The card also gives you purchase assurance which means you will be protected against theft and other damages beyond other insurance for 90 days from the date of purchase.
  6. Last, Tangerine cashback credit card protects the products you have bought recently for an additional year. Yes, even if the manufacturer warranty has expired, there is nothing to worry about.
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