Cash back credit cards are great, but sometimes they don’t reward you enough for your specific spending habits. Fortunately, there’s the Tangerine Money-Back Credit Card, which puts you in control of how you earn cash back.
Here’s how it works: Select two spending categories that earn you 2% cash back. You’ll get 0.5% cash back on all other purchases, and you can adjust your categories every 90 days. You can also unlock a third 2% category if you deposit your cash back into a Tangerine Savings Account.
Keep reading to decide if this unique cash back credit card is right for you!
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Free $125 in GeniusCash with a new Tangerine Money Back Credit Card
For a limited time, when you apply for the Tangerine Money-Back Mastercard card using our link, you'll receive $125 in GeniusCash when you're approved.
All you have to do is go to our offers page, select the credit card you're interested in, and apply through our link. If you're approved, you'll get your GeniusCash either through PayPal or an Interac e-Transfer within 12 weeks.
Tangerine Money-Back Mastercard at a glance
Here’s a quick run-down of the Tangerine Money-Back Mastercard. Have a look and see if you’re eligible for the card or interested in what it offers.
| Feature | Tangerine Money-Back |
|---|---|
| Annual fee | $0 |
| Income requirements | $12,000 personal annual income |
| Welcome bonus | Earn an extra 10% cash back for the first two months, up to $100 |
| Rewards | * 2% cash back on up to three categories * 0.5% cash back on all other purchases |
| Insurance | * Purchase protection * Extended warranty |
How to earn cash back with the Tangerine Money-Back Mastercard
The
With cash back rewards, you know that a dollar is worth a dollar. There's no guesswork, no complicated redemption options, and no stress.
Tangerine makes the cash back system fun by putting you in control of which categories earn you more. You’ll automatically get to choose two categories (out of ten options) that earn 2% cash back instead of the regular 0.5% cash back. If you elect to get your rewards deposited directly into your Tangerine Savings Account, you'll be able to choose a third category.
Tangerine’s spending categories are grocery, furniture, restaurants, hotel-motel, gas, recurring bill payments, drug store, home improvement, entertainment, and public transportation and parking.
Another great thing about the Tangerine card is that you can adjust your categories once every 90 days, so you aren’t stuck with the same selection if your spending habits change.
Pros and cons of the Tangerine Mastercard
If you’re intrigued by the unusual earning structure of the Tangerine Mastercard, it can help to weigh the strengths and shortcomings of the card.
Pros:
- Generous welcome bonus: Earn an extra 10% cash back for the first 2 months, up to $1,000 spent. This plus the $125 GeniusCash bonus we mentioned earlier means you'll be getting a massive boost to your rewards right from the get-go.
- Cash back rewards are paid out monthly: You can apply the cash back to your credit card balance as a statement credit or deposit it into your Tangerine savings account (if you have one).
- It has a low credit score requirement: Tangerine requires a minimum credit score of 600 to be approved, lower than many other credit cards. This makes it easier for newcomers to Canada and for those with lower credit scores.
- You get a great 6-month bonus transfer offer: If you’re looking to pay down your existing debt quickly, take advantage of the card’s introductory balance transfer offer of 1.95% for the first 6 months, with a transfer fee of 1%.
Important note: One rule of balance transfer credit cards is that you can't transfer balances between credit cards from the same bank. And since Scotiabank owns Tangerine, you won't be able to transfer a balance from a Scotia credit card.
Cons:
- There’s no category for Costco spending: Unfortunately, Costco does not count as a grocery score according to Tangerine’s merchant guidelines, so you can’t earn 2% back at the warehouse.
- You get limited insurance coverage: Sure, you get basic purchase protection, extended warranty, and purchase protection insurance, but that’s it. If you’re looking for comprehensive insurance, this isn’t the card for you.
- The card only gives 0.5% on non-category purchases: Despite the increased rewards for your two (or three) chosen categories, 0.5% on everything else is quite low.
×1 Award winner 
$125 GeniusCash + Up to $100 bonus cash back* + 1.95% on balance transfers for 6 months.*
GC: $125
1x Award winner Four cards that pair well with the Tangerine Mastercard
What's great about a no-fee cash back card is how well it can pair with other credit cards. Use the Tangerine card on your selected spending categories, and use another card for everything else. Of course, these cards are also great on their own.
American Express SimplyCash
The
While there’s no annual fee for the card, you do need a good credit score to qualify.
Simplii Financial Visa
Take a look at the great earn rates for the
- 4% cash back on restaurants, up to $5,000 spend per year†
- 1.5% cash back on groceries, gas, drugstores, and pre-authorized payments, up to $15,000 per year†
- 0.5% cash back on all other purchases†
Simply choose different categories with your Tangerine card from what you see here to create a super no fee wallet that earns 1.5% cash back or more in up to 8 categories.
Scotiabank Momentum Visa Infinite
GC: $20
The
- 4% cash back on groceries and recurring bill payments
- 2% cash back on gas and transit
- 1% cash back on all other purchases
Again, if you choose your
This card does have high income requirements, but it also comes with a fantastic welcome bonus and a comprehensive insurance package.
BMO CashBack World Elite Mastercard
GC: $150
Finally, another premium cash back card to pair with a Tangerine credit card is the
- 5% cash back on groceries, up to $500 in monthly spend
- 4% cash back on transit, up to $300 in monthly spend
- 3% cash back on gas, up to $300 in monthly spend
- 2% cash back on recurring bills, up to $500 in monthly spend
- 1% cash back on all other purchases
Like the card above, just choose Tangerine categories that are different from the list here.
There's also a premium version of the card
The Tangerine Money Back Credit Card isn't the only credit card offered by Tangerine – there's also the
If you know you want to get a Tangerine card, but aren’t sure which is the best one for you, check out their key differences.
| Feature | Tangerine Money-Back | Tangerine World Mastercard |
|---|---|---|
| Annual fee | $0 | $0 |
| Income requirements | $12,000 personal annual income | $50,000 personal or $80,000 household annual income |
| Extra card fee | $0 | $0 |
| Welcome bonus | Earn an extra 10% cash back for the first 2 months, up to $1,000 spent | Earn an extra 10% cash back for the first 2 months, up to $1,000 spent |
| Rewards | * 2% cash back on up to 3 categories * 0.5% cash back on all other purchases | * 2% cash back on up to 3 categories * 0.5% cash back on all other purchases |
| Insurance | * Purchase protection * Extended warranty | * Purchase protection * Extended warranty * Mobile device * Rental Car Theft & Damage |
| Interest rates | * 20.95% on purchases * 22.95% on cash advances and balance transfers | * 20.95% on purchases * 22.95% on cash advances and balance transfers |
Tangerine's 2 credit cards are largely similar cards, with the same rewards and no annual fee. However, the Tangerine World Mastercard adds more insurance and gives you World Mastercard Benefits, which include:
- Mastercard World Experiences
- Mastercard Priceless cities
- Mastercard Travel Pass Provided By DragonPass
- Travel reward discounts
- Discounts on subscription services
The income requirements are high – either $50,000 personal or $80,000 household. But if you meet them, there's no reason not to get this version of the card.
GC: $125
FAQ
What credit score is needed for a Tangerine Mastercard?
Tangerine doesn’t have high credit score requirements; typically, you’ve got to have a score of at least 600 to qualify, but approval also depends on other factors in your credit history.
Does Tangerine do a hard credit check?
Yes, Tangerine, along with all other credit card issuers, do a hard credit check to determine your creditworthiness. This means your credit score may dip a bit, but it’s temporary and your score should bounce back in due time.
Does Costco accept the Tangerine Mastercard?
Yes, you can use your Tangerine Mastercard online or in-store at any Canadian Costco. Costco doesn’t accept American Express, and you can only use Visa on the Costco website. Tangerine doesn’t classify Costco as a grocery store, so you won’t earn boosted cash back.
Who owns Tangerine Bank in Canada?
Tangerine was founded as ING Direct back in 1997, but Scotiabank purchased it in 2012 and changed the name to Tangerine the following year.
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GC: 
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