The Tangerine Money-Back Credit Card and the Tangerine World Mastercard® are two great options to earn cash back. Both cards provide users with the ability to switch up their Money-Back Categories to earn rewards that match individual spending styles.

Unlike many cash back cards that release rewards annually, Tangerine applies cash back as a statement credit or deposits funds into the cardholder’s Tangerine Savings Account monthly.

So, what is the difference?

Cardholders require a minimum income of $12,000 to be eligible for the Tangerine Money-Back Credit Card, which offers the line’s core features, including Money-Back Categories, extended warranty and purchase protection.

To be eligible for the higher-tier card, users must have a minimum personal income of $60,000 or a minimum household income of $100,000. However, this card comes with a few extra benefits on top of the core features. Users can take advantage of the car rental and mobile device insurance, as well as Boingo Wi-Fi for Mastercard®* and Mastercard® Airport Experiences Provided by LoungeKey.

Both credit cards offer free supplementary cards for authorized users, no caps on cash-back earned, and a low balance transfer promotion, all for no annual fee.

Learn more about the great features of Tangerine credit cards below.

Card details
Credit card Great features Annual fee First-year value
1. Tangerine World Mastercard®
  • Cash back
  • Boingo Wi-Fi for Mastercard®*
  • Mobile device insurance

$0

$309

2. Tangerine Money-Back Credit Card
  • Cash back

$0

$309

1. Tangerine World Mastercard®

Apply for the Tangerine World Mastercard® and start to earn 2% cash back in up to three Money-Back Categories of your choice. Start with two categories and earn the third when you choose to deposit your cash back into a Tangerine Savings Account. Earn 0.50% back on all other purchases and switch up your categories as you like.

According to our Best of Finance methodology, the average Canadian will earn $309 cash back in the first year.

Credit score requirement for approval:

Good: You’ve had a credit card or loan for at least six years. You’ve had good credit for the last seven years (no bankruptcies or no defaults on credit as a result of failing to pay debts back to creditors). You haven’t opened a new credit card account, loan, or line of credit in the last nine months. You’ve made the minimum payments on my existing credit cards for the past three months.

Annual fee:

$0

Limited time offer/bonus:

  • New cardmembers can access a 1.95% promotional interest rate on balance transfers made within 30 days of account opening, for the first six months. A 1% balance transfer fee does apply.

Offer expiry date: N/A subject to change without notice

Rewards:

Earn 2% cash back in up to three categories of your choice. Start with two Money-Back Rewards Categories and earn a third when you choose to deposit your money into a Tangerine Savings Account. Get 0.50% back on everything else.

Tangerine Money-Back Categories:

  • Grocery
  • Furniture
  • Restaurants
  • Hotel-motel
  • Gas
  • Recurring bill payments
  • Home improvement
  • Entertainment
  • Public transportation and parking

Change up your categories to match your spending style and earn more.

Earning potential:

How does this card stack up to other rewards credit cards? We crunched the numbers using our Best of Finance methodology to see how much an average Canadian could earn over a 12-month period.

Rewards earned over a 12-month period = $309
Annual fee = $0
Total earned over the first year (rewards minus annual fee) = $309

*Assumes the cardholder chose to deposit their rewards into a Tangerine Savings Account, earning the third category. The categories selected were groceries, recurring bill payments and gas.

You can redeem your points for:

  • Cash back can be applied as a statement credit each month.
  • Cash back can be deposited into a Tangerine Savings Account monthly.

Insurance:

  • Rental car collision and loss damage
  • Mobile device insurance
  • Purchase protection
  • Extended warranty

Other perks:

  • Stay connected with Boingo Wi-Fi for Mastercard®*, and access over one million Wi-Fi hotspots worldwide.
  • Access a complimentary membership to Mastercard® Airport Experiences Provided by LoungeKey for exclusive deals and offers at over 400 airports.
  • Take advantage of free supplementary cards for authorized users and earn more as a family.
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2. Tangerine Money-Back Credit Card

Cardholders of the Tangerine Money-Back Credit Card can earn 2% cash back in up to three Money-Back Categories of their choice. Start with two categories and get the third when you decided to deposit your rewards into a Tangerine Savings Account. Earn 0.50% back on everything else you buy.

According to our Best of Finance methodology, the average Canadian will see $309 cash back in the first year.

Credit score requirement for approval:

Good: You’ve had a credit card or loan for at least six years. You’ve had good credit for the last seven years (no bankruptcies or no defaults on credit as a result of failing to pay debts back to creditors). You haven’t opened a new credit card account, loan, or line of credit in the last nine months. You’ve made the minimum payments on my existing credit cards for the past three months.

Annual fee:

$0

Limited time offer/bonus:

  • New cardmembers can take advantage of a 1.95% promotional interest rate on balance transfers made within the first 30 days of opening the account for six statement periods. A 1% balance transfer fee does apply.

Offer expiry date: N/A subject to change without notice

Rewards:

Earn 2% cash back in up to three categories of your choice. Start with two categories and earn a third when you choose to deposit your rewards into a Tangerine Savings Account. Earn 0.50% back on all other purchases.

Tangerine Money-Back Categories:

  • Grocery
  • Furniture
  • Restaurants
  • Hotel-motel
  • Gas
  • Recurring bill payments
  • Drug store
  • Home improvement
  • Entertainment
  • Public transportation and parking

Switch up your categories as your spending habits change.

Earning potential:

How does this card stack up to other rewards credit cards? We crunched the numbers using our Best of Finance methodology to see how much an average Canadian could earn over a 12-month period.

Rewards earned over a 12-month period = $309
Annual fee = $0
Total earned over the first year (rewards minus annual fee) = $309

*Assuming the cardholder chooses to deposit their rewards into a Tangerine Savings Account, earning the third category. The categories selected were groceries, recurring bill payments and gas.

You can redeem your points for:

  • Rewards can be applied as a statement credit each month.
  • Rewards can be deposited into a Tangerine Savings Account monthly.

Insurance:

  • Purchase protection
  • Extended warranty

Other perks:

  • Enjoy free supplementary cards for authorized users.

Rates, product information, and rewards estimates are subject to change at any time and do not constitute financial advice. Information in this article is accurate as of the date of this posting, August 3, 2020.

Hayley Vesh

Hayley Vesh is a creative, resourceful, and knowledgeable content producer who is passionate about financial literacy, storytelling, and generating ideas. She writes about credit cards, savings, debt management, and personal finance. In her spare time, Hayley can be found wandering in the woods, hunting for second-hand treasures, or curled up with a steeped tea and a good podcast.

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