Tangerine credit cards let you be in control of your own rewards. You'll get to choose what categories you want to earn 2% cash back in, with the ability to change your categories if your spending patterns change.

Annual Fee
$0
Extra Card Fee
$0
Card Type
Credit
Purchase
19.95%
Cash Advance
19.95%
Balance Transfer
19.95%
Balance Transfer
1.95%
Transfer Term
6 months
Personal Income
$12,000
Household Income
N/A
Canadian resident who has reached the provincial age of majority.
Extended Warranty 1 year
Purchase Protection 90 days

Please review your insurance certificate for details, exclusions and limitations of your coverage.

If we find your match, we’ll give you up to $25 when you refer your friends.*

Tangerine Money-Back credit card review

Tired of boring run-of-the-mill cash back credit cards? You've come to the right place.

The Tangerine Money-Back Mastercard is a unique NO FEE cash back credit card that lets you choose where you earn bonus rewards ‒ and update those preferences when your needs change.

Tangerine credit card rewards

When it comes to earning rewards, you're in charge of how they're earned and how they're paid to you.

10 Tangerine credit card categories

So how are you in control? You get to pick the categories where you earn your 2% cash back.

Here are the choices available:

Tangerine Money-Back categories

There's a wide assortment of categories to choose from.

How many do you get to choose? If you get your rewards issued as a statement credit, you'll get to choose 2.

But if you get them deposited into a free Tangerine Savings account, you can choose 3 categories (you can sign-up for one here).

Purchases outside of your chosen categories will earn 0.5%.

How much cash back you can earn with a Tangerine credit card

We'll use our typical $2,000 monthly spend, which is broken down as follows:

  • groceries – $350,
  • gas – $200,
  • drugstores – $100,
  • restaurants – $150,
  • recurring bills – $300,
  • travel – $100, and
  • all other purchases – $800.

Total annual rewards with 2 categories

Let's start with a scenario where you get to choose 2 categories at 2%. In this case, we'll go with groceries and recurring bills, our 2 highest categories.

Here's a breakdown of what you would earn in rewards: 2% on groceries and bills and 0.5% on all other purchases. The total annual rewards is $237.

Tangerine credit card earnings with 2 2% categories

Total annual rewards with 3 categories

Now, let's do the same, but you can choose between 3 categories at 2% because you have a Tangerine Savings account. For our 3rd category, we'll choose gas in addition to groceries and bills.

Tangerine credit card earnigns with 3 2% categories

Now the total annual rewards is $273. An extra $36 just by having a free Tangerine Savings account.

Changing your Money-Back categories

Spending patterns change? No problem – your categories aren't locked in once you choose them.

You'll be able to change any of your categories whenever you like – just note that it will take 90 days for the change to take effect. However, it will happen right away if it's your first time requesting a change.

Getting your cash back rewards

So how do you get a hold of your rewards?

Your rewards get paid out once per month. You can choose to either get them as a statement credit, or deposited into a Tangerine Savings account.

Either way, you'll never have to wait a year for them like most cash back credit cards.

3 Tangerine credit card benefits

Beyond just earning rewards, Tangerine credit cards have a few other features.

1. Insurance coverage

You'll get a couple of types of insurance coverage included with a Tangerine credit card.

They are:

  • extended warranty, and
  • price protection.

It doesn't look like much but, according to our study on credit card insurance, extended warranty coverage is worth about $78 annually and price protection is worth $38.

2. Promotional balance transfer rate

Have some existing credit card debt? You'll get an introductory rate of 1.95% on balance transfers for the first 6 months, with a fee of 3% on the amount transferred (minimum $5).

Keep in mind: If you take Tangerine up on this part of the offer, don't use your credit card for new purchases. Why? The payments you make go towards the portion of your balance that has the lowest interest rate. Meaning, those new purchases you make will start accruing interest at 19.95%.

3. No annual fee

Not having to pay an annual fee seals the deal. The entire package won't cost you anything as long as you NEVER carry a balance. All together, you have a solid primary credit card for daily use, or an even better compliment for almost any wallet.

The consummate companion credit card

Tangerine credit cards make for an ideal companion card in almost anyone's wallet, for 2 reasons:

  • you pay $0 annual fee, and
  • you get to choose how you earn 2% cash back.

The last point is key.

With 10 categories to choose from, there's a category you can select that's different from any of your other credit cards.

Top cash back card paired with Tangerine credit card

Additional cash back rewards: $42

So, let's see how it pairs with our top cash back credit card – the , which offers:

  • 4% cash back on groceries and recurring bills,
  • 2% cash back on gas and transit, and
  • 1% cash back on all other purchases.

Based on our typical $2,000 annual spend, this card earns $498 in cash back per year.

Let's add a Tangerine credit card to pair with it and pick 3 different 2% categories to supplement our earnings:

  • restaurants,
  • drugstores, and
  • home improvement.

So, this combined wallet has the following earn rates:

  • 4% cash back on groceries and recurring bills,
  • 2% cash back on gas, drugstores, restaurants, and home improvement, and
  • 1% cash back on everything else.

Here's how they compare alone (with Tangerine using our 3 category example above), and combining them together.

Spending Category (Monthly Spend)Scotiabank Momentum Visa InfiniteTangerine Credit Card Annual RewardsOptimized Rewards
Groceries ($350)$168$84$168
Gas ($200)$48$48$48
Bills ($300)$144$72$144
Drugstore ($100)$12$6$24
Restaurants ($150)$18$9$36
Home Improvement ($100)$12$6$24
Travel ($100)$12$6$12
Other ($700)$84$42$84
Total$498$273$540

Just by combining a Tangerine credit card with the Scotiabank Momentum Visa Infinite, you've earned an extra $42 in cash back. And there are no extra costs for doing so as well.

Here's a summary chart, showing all 3 sets of annual rewards together.

Tangerine and Scotiabank credit card annual rewards comparison

High flat rate paired with Tangerine credit card

Additional cash back rewards: $77

Now, let's create a no fee credit card super combo with the . This card earns a flat 1.25% cash back on every single purchase.

Meaning, when spending $2,000 per month, you would earn $300 cash back every year.

So, let's combine this card with our 3 category Tangerine setup to create this wallet:

  • 2% cash back on groceries, bills, and gas, and
  • 1.25% cash back on all other purchases.
Spending Category (Monthly Spend)Amex SimplyCashTangerine Credit Card Annual RewardsOptimized Rewards
Groceries ($350)$53$84$84
Gas ($200)$30$48$48
Bills ($300)$45$72$72
Other ($1,150)$173$69$173
Total$300$273$377

Adding these 2 cards together gives an increase of $77 in annual rewards. For 2 no fee cards, this is quite a good pairing.

Tangerine and Amex credit card annual rewards comparison

Tangerine credit card downsides

This all seems well and good, but are there any downsides?

The only real big one is the base earn rate of 0.5%. If this is the only credit card you carry, you won't be earning much in rewards outside of your chosen categories. But this is easy to overcome, by pairing it with a no annual fee card that has a high base earn rate like the .

The insurance coverage is also a little lacking, but does offer something in this department.

Tangerine World Mastercard

So what differences does the Tangerine World Mastercard have?

It has the exact same:

  • rewards,
  • balance transfer promo, and
  • no annual fee.

In the insurance department, it also offers mobile device and rental car coverage.

And it has a few extra perks. You'll get a free membership to Mastercard Airport Experiences, but each visit will cost US$32.

And, you'll get access to World Mastercard benefits. Some noteworthy benefits include:

  • World Mastercard experiences, and
  • Priceless cities.

The only catch? You'll need either a personal income of $60,000 or a household income of $100,000 to qualify.

In summary

Think of Tangerine credit cards like a chameleon: extremely versatile and adaptable wherever you drop them. You can use one on its own ‒ or pair it with other top credit cards and get even more rewards.

Do you have a Tangerine credit card already?

Leave a review so others can know what your experience has been with the card.

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