Tangerine Money-Back Credit Card

Tangerine Money-Back Credit Card 

Card Features

  • Earn 2% Money-Back Rewards on purchases in up to three 2% Money-Back Categories of your choice, and 1% Money-Back Rewards on all other purchases.
  • No annual fee
  • No limit on the amount of Money-Back Rewards you can earn
  • Three 2% Money-Back Categories if you choose to have your Rewards deposited into your Tangerine Savings Account, or two 2% Money-Back Categories if your Rewards are deposited back onto your Credit Card
  • 1.5% Foreign Conversion Fee – one of the lowest in market
  • Free Cards for Authorized Users on your Account

Interest Rates

APR: 19.95%

Balance Transfer APR: 19.95%

Cash Advance APR: 19.95%

Annual Fee

$0

Pros

  • High money-back earnings with no annual fee
  • Low 1.5% foreign trasaction rate
  • Great companion to Tangerine banking products

Cons

  • None to mention :)

Bonus Offer

Get 2% Money-Back Rewards on purchases in two 2% Money-Back categories of your choice

Introductory Rates

1.95% on balance transfers made within 30 days of your Account opening for the first 6 statement periods.

Reward Earnings Rate

Up to 2% money back

Additional Details

Grace Period: 21 days

Fees

Balance Transfer Fee: 1.00% of the amount transferred, or minimum of $5.00

Cash Advance Fee: $2.50 within Canada, $5.00 outside Canada

Foreign Transaction Fee: 1.5%

Over Credit Limit Fee: $20

CreditCardsCanada.ca Review

There’s a lot to love about the Tangerine Money-Back credit card. In the world of cash back cards, earning 1% on purchases is the standard. Credit card companies have slowly upped the ante by offering more cash back for “everyday” purchases such as gas and groceries. Tangerine has taken that concept to the next level by offering the ability to choose two spending categories where you can earn 2% cash back.

There are 10 different categories to choose from including drug stores, restaurants, gas, groceries, home improvement, hotels, recurring bill payments, and more.

Being able to customize the rewards program to your spending habits is a great way to maximize your rewards, and it’s fun too! And you’re not locked in to the categories – you have the ability to change them throughout the year.

Tangerine offers more than a great credit card, they also offer chequing and savings accounts that offer more than traditional banks. Plus if you sign up for the savings account and deposit your cash back into that account you will get a third 2% spending category. It definitely makes sense to bundle services with Tangerine.

While the interest rate isn’t low, we don’t recommend carrying a monthly balance on any rewards card including the Tangerine card. There is a 1.95% balance transfer offer for 6 months which is a pretty good deal for a cash back card. For international travellers the foreign conversion fee is only 1.5%, much lower than competitors.

Add it all up and the Tangerine Money-Back credit card is an excellent offer and stands out among the competition. Click here for the full Tangerine Money-Back review.