Best Gas Credit Cards in Canada for 2024

 

An often overlooked aspect of personal finance is the value of gas credit cards. These cards offer rewards, credits and discounts on gasoline and purchases made at gas stations. Whether you're a road trip enthusiast, a daily commuter, or a professional driver, a gas credit card could potentially save you hundreds of dollars each year.

To learn more about the benefits gas credit cards offer, as well as how you can use them to strategically save and improve your overall finances, continue reading. Below is a brief overview of what this article covers:

  •       What Are Gas Credit Cards And What Benefits Do They Offer?
  •       Terms And Conditions You Need To Know For Gas Credit Cards.
  •       Comparing The Best Gas Credit Cards In Canada.
  •       Tips On How To Choose A Gas Credit Card
  •       Tips On How To Maximise Your Gas Credit Card Benefits


What Are Gas Credit Cards?

So, what exactly are gas credit cards? These are specialized credit cards that offer rewards or cashback on gasoline purchases. They can be especially valuable if your monthly gas expense is high. They come in two types:

  1. Branded. Branded gas credit cards are partnered with specific gas stations and usually offer higher rewards when you fill up at their pumps.
  2. Generic/general purpose. Generic gas credit cards offer rewards on gas purchases regardless of the station where you fill up.

The one you choose will depend on your driving habits. Do you prefer going to only one brand of gas station, or do you only fill up at the gas station near your house? Then a branded gas credit card makes sense. If brand doesn’t matter to you, or if you tend to travel around, then a generic brand will suit you better.

The generic option offers more flexibility to adapt to changing gas prices or for frequent travellers. However, it may come with fewer benefits than a branded gas credit card. Regardless of which gas credit card you choose, you can make the most out of it and earn rewards, as this article covers later on.


The Benefits Of Gas Credit Cards

Gas credit cards offer numerous benefits to help you save more on gas and other purchases. The benefits include:

  •       Saving on gas: Most gas credit cards offer between 1% and 5% cash back on gasoline purchases. This might not seem like a lot, but if you're a frequent driver, these savings can quickly add up over a year.
  •       Saving on other categories: Gas credit cards can function like regular credit cards and offer sign-up bonuses, and reward points for groceries, dining and travel purchases.
  •       Improving your credit score: Much like standard credit cards, gas credit cards help you build your credit score. Since gas is a monthly purchase, if you pay it fully each month, it builds up a steady positive credit history.

A simple stop at the gas station can add to your financial security one card swipe at a time. However, alongside benefits, there are important terms and conditions to familiarise yourself with to ensure you know what you’re getting yourself into. The next section looks at this in more detail.

The Terms and Conditions of Gas Credit Cards

Most credit cards come with terms and conditions, and gas credit cards are no exception. The most important terms to familiarize yourself with include the Annual Percentage Rate (APR), which is the annual interest rate of your card combined with the fees you pay for getting a loan (e.g. credit), and your annual fees.

Other terms and conditions to watch out for include late payment fees (a flat rate you might pay for settling your balance late, rather than paying interest), foreign transaction fees (fees for using your card abroad), and the actual reward offered by your credit card.

When getting any Credit Card, always make sure to read through the terms and conditions carefully to make sure you’re equipped for whatever fees or rewards may come your way.

Comparing the Best Gas Credit Cards

With so many gas credit cards in the market, choosing the best one can be a daunting task. To make this choice earlier, a few of the most popular gas credit cards in Canada are outlined alongside their reward structures and fees. The cards are divided into two categories - Generic and Branded.

Generic Gas Credit Cards

SimplyCash® Preferred Card from American Express: This Card offers 4% cash back at Canadian gas stations, 4% cash back on groceries and 2% for everything else. While ideal for Gas purchases, it also has excellent rewards for groceries and everyday purchases making it an ideal flexible option. Its annual fee comes to $119 and interest is typically 20.99% on purchases.

Branded Gas Credit Cards

Bmo Air Miles® Credit Card: This card is co-branded with Shell gas stations to offer cardholders more benefits. It is mainly targeted at airline miles, but each purchase at a Shell gas station earns you points and miles, such as X4 points on all Shell purchases and X2 points on everything else. It has no annual fee, and interest is 20.99% for purchases.

Best Gas Credit Cards in Canada

GAS ADVANTAGE MASTERCARD
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Annual Fee: $0
Purchases Interest Rate: 19.99%
Cash Advance Interest Rate: 22.99%
Min Income Requirement: $15000
Why Apply:
No Annual Fee: Get rewards without annual fees

Save up to 10c/litre on gas at Canadian Tire gas bars instantly

Financing program: 12 equal monthly payments, with NO Fee and NO Interest financing

 

Recommended Credit Score:
670 900
Average to Excellent
Apply Nowlock On Canadian Tire Financial's Secure Website

With the Canadian Tire Gas Advantage MasterCard you can get rewards without annual fees.

You can save up to 10 cents off per litre of gas at Canadian Tire Gas Bars. It is simple, you swipe and save instantly on your gas bill.

Additionality you will take advantage of all Mastercard benefits like Zero Liability, Mastercard Global Service and acceptance at millions of merchants worldwide.


No Annual Fee: Get rewards without annual fees

Save up to 10c/litre on gas at Canadian Tire gas bars instantly

Financing program: 12 equal monthly payments, with NO Fee and NO Interest financing

This credit card can have some good value if you use Canadian Tire Gas+ Bars for your gas.

As the name implies, card users save on gas purchases. Card holders save anywhere between 2 and 10 cents on gas depending on how much is spent in a month. When you spend up to $500 on gas, you’ll save 2 cents per litre. Between $500 and $1,000 in spending, you’ll earn 5 cents per litre. When you spend between $1,000 and $2,000, you’ll save 8 cents per litre. Finally, after you’ve spent $2,000, you’ll save 10 cents per litre. Keep in mind that everything you spend on the card is factored into this calculation, not just how much you spend on gas.

 

Those who use the Canadian Tire Gas Advantage Mastercard gain access to Canadian Tire bank benefits as well. The most notable benefit is interest free financing over twelve months on eligible purchases with Canadian Tire. If you need to make a big purchase, this is a great way to repay the amount over time. Finally, this credit card comes with no annual fee.

 

For individuals who drive tons and therefore purchase a lot of gas, this card is a great way to save some bucks on your fill ups. However, if you don’t spend enough in a month, you won’t save on gas. A good rule of thumb is spending at least $2,000 per month which will gain you access to 10 cents of savings per litre.


Still undecided ? This credit card has few close cousins from Canadian Tire Financial Services family:

Triangle World Elite Mastercard

Cash Advantage Mastercard

Triangle Mastercard

 

 

Tangerine Money-Back Credit Card
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Annual Fee: $0
Purchases Interest Rate: 19.95%
Cash Advance Interest Rate: 19.95%
Min Income Requirement: $12000
Why Apply:
  • No annual fee
  • Unlimited rewards
  • Automatic monthly cash back redemption
  • Flexibility
  • Get more rewards
Recommended Credit Score:
670 900
Average to Excellent
Apply Nowlock On Tangerine's Secure Website


Apply for a Tangerine Money-Back Credit Card by April 30, 2024 and earn an extra 10% back (up to $100)
when you spend up to $1,000 in everyday purchases within your first 2 months.*

1.95% interest on the transferred balance for the first 6 months


Regarded as one of the best credit card in Canada, Tangerine Money-Back Credit Card provides no annual fee, a lucrative 2% cash back in up to 3 merchant categories, and 0.5% on all other purchases with no caps, tiers or limits. It provides choice, value and convenience to beginner credit card users and even works great as a secondary credit card.

  • No annual fee -The no annual fee for both primary and secondary holders means that you are not paying for your cash back.
  • Unlimited rewards -Earn as much cash back rewards regardless of the category.
  • Automatic monthly cash back redemption -Every month, Tangerine will either apply your cashback dollars against your credit card balance or deposit it directly into your Tangerine Savings Account.
  • Flexibility - You can choose 2-3 categories for the 2% cash back and change categories once every 90 days to match your spending pattern.
  • Get more cash back rewards -Maximize your credit card rewards by choosing another cash back credit card that has bonus categories and using your Tangerine card to expand and get more bonus categories.


If you've been looking for a credit card that offers money-back rewards, then the Tangerine Money-Back Credit Card might be right for you. The card has no annual fee and is designed to offer cash back on all purchases made with the card - anytime during the year!

Great credit card for those who would like to maximize the cashback they earn by choosing their spend categories to earn more cashback.

Viewed as one of the best credit cards in Canada, Tangerine Money-Back Credit Card provides no annual fee, a lucrative 2% cash back in up to 3 merchant categories, and 0.5% on all other purchases with no caps, tiers or limits. It provides choice, value and convenience to beginner credit card users and even works great as a secondary credit card. 

Apply for a Tangerine Money-Back Credit Card by October 31, 2024 and earn an extra 10% back (up to $100) when you spend up to $1,000 in everyday purchases within your first 2 months.*

 The most notable feature is the cash back rewards. Who wouldn't want to earn money while they spend! In order to determine an estimate of how much you'll earn using this card, take your total credit card spending per month and multiply it by 1%. Typically, these card users average out to 1% cash back on purchases between the special 2% categories and 0.5% on all other purchases. If you spend $1,000 a month, you'll earn $10 ($1,000 x 0.01)!

Tangerine's Money Back Credit Card has lower than average fees as well. In addition, they are an excellent bank to work with since they're owned by Scotiabank. More often than not, Tangerine's clients benefit indirectly from Scotiabank's services without paying the big bank fees. That being said, Tangerine's services are so affordable because they don't offer in person services the way traditional banks do. If that's something you value, this card might not be right for you.

Tangerine Money Back vs World Mastercard®

Wondering what's the difference between the 2 cards Compare the Tangerine Money Back vs World Mastercard®

 

American Express Cobalt® Card
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Annual Fee: $155.88
Purchases Interest Rate: 20.99%
Cash Advance Interest Rate: 21.99%
Min Income Requirement: Not Available
Why Apply:
  • Generous first-year rewards
  • Redeem anything you want
  • Transferability of points
  • Monthly fee
  • Free supplementary card
Recommended Credit Score:
670 900
Average to Excellent

While geared towards young people, the American Express Cobalt® Card  has plenty features and benefits that make it appealing to a wide range of people. It offers 5x more points on eats and drinks from grocery shopping to dining out, and 2x points on travel and transit. Additionally, the ability to transfer points to hotel partners or to the Fixed Points Travel Program makes this the best travel credit card in Canada with a fee. If you spend a lot on food and travel, then this credit card deserves a place in your wallet.

  • Generous first-year rewards - You have the ability to earn up to 15,000 bonus points in the first year.
  • Redeem anything you want -Reward points can be redeemed for travel, restaurant, movies, and merchandise. Unlike other rewards card, you can use your points for almost anything you want.
  • Transferability of points -You can transfer points into the Marriott Bonvoy rewards system which unlocks access to amazing rewards programs like British Airways, Aeroplan, and more than 30 other airline partners. You can also transfer to the Hilton Honors rewards program at 1:1 ratio.
  • Monthly fee - Instead of paying for a one-time annual fee, you are charged every month, giving you time to test out the card and cancel it if it's not the right fit for your spending habits.
  • Free supplementary card - This usually costs an additional $50 on most rewards card. Get one for an immediate family member and boost your earning potential.

The American Express Cobalt® Card started out as a credit card designed for millennials and young professionals. Today, it’s one of the most flexible and versatile credit cards out there. In fact, it’s now commonly used by people from all walks of life because of the lucrative benefits. 

One reason the American Express Cobalt® Card is so popular is because of the quick rewards that come with it. Points can be earned on everyday purchases which is what makes the earnings accumulate so rapidly. On food and drinks, such as grocery, restaurant, food delivery, bar and cafe purchases, cardholders earn five points per dollar spent. 

On transit and travel, cardholders earn two points per dollar spent. These rewards are not limited to vacation only, cardholders will earn points when they spend on public transit, taxis and Ubers too. All other purchases earn one point per dollar spent. As you can see, no matter what your lifestyle is, you’ll quickly rack up points! 

Points can be redeemed to cover the cost of flights and accommodation with 1,000 points being equivalent to $10. Flights don’t have any blackout dates and you can choose any airline you’d like. In addition, the points can be used to cover fees and taxes. If you don’t have an upcoming trip, you can also spend your points on events through Ticketmaster at a rate of 2,000 points to $20. As you probably noticed, the rate of return is the same when you spend on travel and events which is fantastic! For less bang for your buck, you can also use your points for gift cards or merchandise purchases. 

Cardholders benefit from travel insurance as well. The insurance covers things like travel accidents, car rental insurance, medical emergencies, flight interruption or delay among others. Last but not least, cardholders gain access to American Express Invites which are limited offer, exclusive events. 

All of these benefits sound amazing but there’s a cost for all the wonderful benefits. There’s a monthly fee of $12.99, which works out to be $155.88 per year. The monthly payment makes it easy for most to manage. Also, you need to make between $60,000 and $80,000 per year and have decent credit. The only disadvantage is the cap rate on the bonus points is 30,000. Another downside to this bonus is the points can’t be redeemed in a lump sum. This means there is a delay between when you earn the points and when you can redeem them. 

That being said, the American Express Cobalt® Card is still an excellent option for those who travel a lot and make lots of eligible purchases.

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SimplyCash® Preferred Card from American Express
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Annual Fee: $119.88
Purchases Interest Rate: 20.99%
Cash Advance Interest Rate: 21.99%
Min Income Requirement: Not Available
Why Apply:
  • High cashback rewards
  • Complete suite of insurance and protection plans
Recommended Credit Score:
670 900
Average to Excellent

If you are comfortable with shelling out a small fee of $99 per year, then the SimplyCash Preferred Card from American Express is one of the best cashback rewards cards. Those who want to maximize their rewards can take advantage of the limited-time 10% cashback rewards. It also offers a comprehensive insurance package that's worth more than $100 in value.

 

Why We Like It:

  • High cashback rewards One of the highest we've seen, the 10% promo cash back is a welcome opportunity for people who have a major purchase coming up. After the four-month promotional period is up, it returns to a still high 2% cash back with no limits. Cash back is applied as a statement credit to your account each September.
  • Complete suite of insurance and protection plans This Amex card offers extensive insurance that includes insurance against rental car damage, travel accident, foreign medical, and baggage theft as well as double manufacturer's warranty and insurance against theft or damage for purchases.

The SimplyCash Preferred credit card allows you to earn while you spend. There are no categories or limitations - wherever you spend, you’ll earn cash back with no earning caps. While the credit card does come with an annual fee of $99, you’ll benefit from numerous perks in addition to cash back.

SimplyCash® Preferred Card from American Express

The American Express SimplyCash Preferred Card offers cardholders an incredible range of benefits that include high cashback rates and a referral bonus. American Express offers exceptional customer service to its cardholders, with customer care professionals that are available to answer questions and deal with card problems, such as lost or stolen cards, 24 hours a day.

Features and Benefits of the SimplyCash® Preferred Card

  • Fantastic Welcome Offer. Earn up to $400 in Statement Credits
  • Cash Back Rate. Earn 2% cash back on all purchases.
  • Up to $1,500 cashback annually for approved referrals
  • No Limit on Earnings. After the welcome offer expires, there are no limitations on earnings with the 2% rate. 
  • Travel and Shopping Insurance. Travel abroad and shop around with peace of mind. Insurance coverage includes travel accident, car rental theft and damage, buyers assurance protection and much more.
  • Entertainment Benefits. Access special event offers from American Express, such as theatre, music, fine dining, fashion and shopping.
Pros and Cons of the SimplyCash® Preferred Card

Pros
  • Cashback is earned on every purchase made with your card
  • There are no limits on the amount of cashback you can receive
  • Travel insurance limits are generous
  • Early access to concerts and other events

Cons

  • Amex isn't accepted as widely as Visa and Mastercard

The Takeaway

The American Express SimplyCash Preferred Card is an excellent option for those who are looking for a generous cashback program. Individuals who travel frequently for business or pleasure can also benefit from this card's included travel insurance, which covers accidents, medical expenses, and even lost baggage. Although this card comes with great benefits, it's important for potential users to consider the downfalls, which is the fact that some retailers across Canada don't accept American Express cards.It is always good to have a Visa or Mastercard credit card as a backup.

  Scotiabank Gold American Express® Card
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Annual Fee: $120
Purchases Interest Rate: 20.99%
Cash Advance Interest Rate: 22.99%
Min Income Requirement: Not Available
Why Apply:
  • Generous sign-up bonus
  • Flexible redemption options
  • Travel convenience
  • Additional protection
Recommended Credit Score:
670 900
Average to Excellent

With a generous rewards rate of up to 6 points per dollar on gas, groceries, restaurants and entertainment, the Scotiabank Gold American Express Card will help make your travel plans a reality. Plus, with a flexible points program, you can book you flights on your own schedule.

  • Generous sign-up bonus -The Scotiabank Gold American Express® offers a way for new cardholders to quickly stockpile points. It lets you earn up to 45,000 bonus Scene+™ points in your first year (that’s up to $450 towards travel)   
  • Flexible redemption options - With the Scotia Rewards Program, you can book your travel with any airline or hotel through its full-service travel agency. You can use your points to cover the whole cost of the trip, including taxes and fees, or combine your points and a charge to your card. Points can also be used to book hotels and rental cars.
  • Travel convenience - Added features such as rental car discounts and hotel room upgrades are designed to make travel as convenient and comfortable as possible.
  • Additional protection - This Amex credit card provides has one of the most comprehensive travel protection benefits with insurance against flight delays and lost baggage even insurance against burglaries.

With a generous rewards rate of up to 6 points per dollar on gas, groceries, restaurants and entertainment, the Scotiabank Gold American Express Card will help make your travel plans a reality. Plus, with a flexible points program, you can book you flights on your own schedule.Excellent credit card with 7 types of travel coverage and great reward earn rates.

  • Generous sign-up bonus -The Scotiabank Gold American Express offers a way for new cardholders to quickly stockpile points. It lets you earn 45,000 bonus Scene+™ points in your first year. 
  • Flexible redemption options - With the Scotia Rewards Program, you can book your travel with any airline or hotel through its full-service travel agency. You can use your points to cover the whole cost of the trip, including taxes and fees, or combine your points and a charge to your card. Points can also be used to book hotels and rental cars.
  • Travel convenience - Added features such as rental car discounts and hotel room upgrades are designed to make travel as convenient and comfortable as possible.
  • Additional protection - This Amex credit card provides has one of the most comprehensive travel protection benefits with insurance against flight delays and lost baggage even insurance against burglaries.




Triangle World Elite Mastercard
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Annual Fee: $0
Purchases Interest Rate: 19.99%
Cash Advance Interest Rate: 22.99%
Min Income Requirement: $80000
Why Apply:
Roadside Assistance Gold Plan
Extended Warranty Insurance
4% Canadian Tire Money back when shopping at Canadian Tire stores and their affiliates
Recommended Credit Score:
670 900
Average to Excellent
Apply Nowlock On Canadian Tire Financial's Secure Website

A great perk for drivers is you’ll receive free roadside assistance coverage. The plan you receive is the Gold Plan from Canadian Tire which is worth approximately $100. The plan covers you for emergency towing, trip accident insurance, battery boosts, flat tire changes and much more.

 

Triangle World Elite Mastercard review

 

Are you an avid customer of Canadian Tire? If yes, then the Triangle World Elite Mastercard might be right for you! This card doesn’t have an annual fee which means you’ll save some dollars while still getting the perks of the credit card.

 

The biggest perk of this credit card is you receive 4% Canadian Tire Money back when shopping at Canadian Tire stores and their affiliates. Canadian Tire’s affiliates include Sport Chek, Atmosphere and Mark’s. Between Canadian Tire and these stores, you’ll be able to purchase everything you need as you’re likely familiar with the amount of products these companies sell.

There is no limit on how much you can earn on the 4% rate which means the earnings are endless. Although the 4% cash back only applies to the pre-tax amount which puts a slight dent in your earning rate. The cash back rewards of this card are notable because basic Triangle Rewards Members only receive 0.4% cash back.

 

Triangle Mastercard holders also earn at an accelerated rate when they spend money on groceries. When card holders spend money on groceries anywhere except Costco and Walmart, they receive 3% Canadian Tire Money back. This means you can earn 3% cash back at No Frills, Loblaws, Longos, Superstores and Metro, among many others. Keep in mind that there is a cap rate, the 3% back only applies to the first $12,000 spent on groceries in a year. 

 

Card holders also receive Canadian Tire Money back when they spend elsewhere, but the cash can only be redeemed at Canadian Tire stores and their affiliates. When spending on other things, card holders receive 1% Canadian Tire Money back.

 

Finally, card holders earn between 5 and 7 cents per litre back in Canadian Tire Money when they purchase gas from Husky, Gas+ or Essence+ stations. The range of 5 to 7 cents depends on what kind of gas you’re purchasing, 5 cents back is applicable on regular gas and 7 cents back is applicable on premium gas. Another perk for regular drivers is you’ll receive free roadside assistance coverage. The plan you receive is the Gold Plan from Canadian Tire which is worth approximately $100. The plan covers you for emergency towing, trip accident insurance, battery boosts, flat tire changes and much more.

 

As mentioned, rewards from this card can’t be redeemed everywhere because it isn’t literal cash back, it’s Canadian Tire money back. This means the rewards can only be redeemed at Canadian Tire stores and their affiliates. In other words, there are more opportunities to earn than there are to redeem. Earnings also can’t be redeemed in cash or used as statement credits unlike other rewards based credit cards. 

Lastly, there is an income requirement for this card. You’ll need to earn $80,000 yourself or $150,000 within your household annually to use this credit card. If you don’t meet this requirement, Canadian Tire offers other credit cards that have less rigorous income requirements.

Overall, the Triangle World Elite Mastercard is an excellent choice for those who have families and regularly shop at Canadian Tire. With no annual fee and plenty of earning opportunities you can’t go wrong!

Still undecided ? This credit card has few close cousins from Canadian Tire Financial Services family:

Cash Advantage Mastercard

Gas Advantage Mastercard

Triangle Mastercard

Tangerine World Mastercard®
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Details
Annual Fee: $0
Purchases Interest Rate: 19.95%
Cash Advance Interest Rate: 19.95%
Min Income Requirement: $60000
Why Apply:

Earn extra Rewards
Boingo Wi-Fi for Mastercard®
On-Demand and Subscription Services
Mobile Device Insurance

Recommended Credit Score:
670 900
Average to Excellent
Apply Nowlock On Tangerine's Secure Website

The World Mastercard offers new perks to their customers that are not available to Tangerine Money-Back Mastercard users. Mobile insurance of $1,000, rental car insurance worth $65,000 for 31 days and Mastercard airport experiences are perks that cardholders gain access to. Both of these insurance packages are beneficial for individuals who have a smartphone and are renting cars often.

The Tangerine World Mastercard is a new addition to Tangerine’s financial products. As with the Tangerine Money-Back Mastercard, there is no annual fee, 2% cash back on three categories and 0.5% cash back on all other purchases. Some of Tangerine’s spending categories include restaurants, furniture, groceries, gas, home improvement and entertainment.

Apply for a Tangerine World Mastercard® by October 31, 2024 and earn an extra 10% back* (up to $100) when you spend up to $1,000 in everyday purchases within your first 2 months.

The World Mastercard offers new perks to their customers that are not available to Tangerine Money-Back Mastercard users. Mobile insurance of $1,000, rental car insurance worth $65,000 for 31 days and Mastercard airport experiences are perks that cardholders gain access to. Both of these insurance packages are beneficial for individuals who have a smartphone and renting cars often. In addition, with the Mastercard LoungeKey membership, you can access airport lounges all over the world at a discounted rate.

 

All in all, the Tangerine World Mastercard is an excellent choice because of the cash back rewards and other perks. Start earning cash on your expenditures today!

Tangerine Frequently Asked Questions

Is Tangerine a good credit card?

Tangerine has two credit cards. The Tangerine Money-Back Credit Card and the Tangerine World Mastercard. Both offer no annual fee and a 19.95% interest rate. They offer purchase assurance and extended warranty on products fully purchased with their credit cards.

Tangerine also offers 2% Money-Back Rewards in two categories of your choice and 0.05% on all other everyday purchases. If you deposit your Money-Back directly into a Tangerine savings account, you unlock a third 2% Money-Back Rewards category. This credit card has no cap on the amount of Money-Back Rewards you can earn. The Tangerine Money-Back Credit Card is a great choice and is competitive with the credit card options of big banks. The Tangerine World Mastercard has added benefits and is harder to qualify for. Benefits include: Mastercard travel rewards, Mastercard airport experiences, mobile device insurance, car rental insurance, and worldwide wi-fi hotspot access.

How do I qualify for a Tangerine credit card?

Tangerine Money-Back Credit Card

To qualify for this credit card, you must have: a gross annual income of $12,000 plus, be the age of majority in your province or territory, be a permanent resident of Canada and be clear of bankruptcies over the past 7 years.


Tangerine World Mastercard

To qualify for this credit card, you must have: $60,000 plus gross annual income OR $100,000 plus household income OR $250,000 in Tangerine bank accounts. AND you must: be the age of majority in your province or territory, be a permanent resident of Canada and be clear of bankruptcies over the past 7 years.

Does Tangerine do a credit check?

Yes, Tangerine will do a credit check as you must agree to a credit check as part of your application process for either credit card Tangerine offers.

What credit bureau does Tangerine use?

Tangerine pulls credit history and credit scores using the TransUnion credit reporting agency.

How do I increase my Tangerine credit card limit?

Tangerine does not provide information on their website about how to increase credit card limits. In most cases, maintaining a good payment history and low borrowing load will welcome credit increases. Often banks and creditors will offer regular increases without requests, but you will be asked and must approve these increases. If you would like a credit increase, you can call and speak to Tangerine’s client service representatives, who can walk you through their specific process and submit your request for a credit increase. Tangerine, like most banks, has an online credit increase form you should be able to complete and submit on your own too.

How can I apply for a Tangerine credit card?

You can apply for a Tangerine credit card online, but you will need to register as a Tangerine client first. If you are already a Tangerine client, you can apply online or call now.

Tangerine Money Back vs World Mastercard®

Wondering what's the difference between the 2 cards? Compare the Tangerine Money Back vs World Mastercard®

 

Neo Card
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Annual Fee: $0
Purchases Interest Rate: 19.99%
Cash Advance Interest Rate: 26.99%
Min Income Requirement: Not Available
Why Apply:
Recommended Credit Score:
0 669
Poor or No Credit
Apply Nowlock On Neo Financial's Secure Website

Neo Card

Overview


Neo Financial is a Canadian, technologically driven financial services company. They’ve recently partnered with Mastercard to offer their customers a cash back credit card.  Cardholders earn the highest cash back when they spend with Neo Financial partners. Learn more below.


Key Features and Benefits

  • Earn cash back rewards on everyday purchases
  • Special cash back offers with thousands of partners, including restaurants, gyms, grocery stores and more
  • No monthly or annual fees and standard interest rates
  • Complimentary, easy to use Neo Financial app
  • Able to connect with Apple Pay or Google Pay
  • Email and phone customer support available

Pros

  • Instant cashback
  • Up to 15% cashback on f purchases and 5% average cash back at 10,000+ partners
  • Mobile app available in the app store and Google Play
  • In addition to the physical card, users can add the card to Apple Pay or Google PayTM to make contactless payments with a smartphone
  • No monthly or annual fees
  • Neo Card only requires a credit score of 600+

Drawbacks

  • Only earn cash back with participating partners
  • No basic insurance 

Takeaway

The Neo Card is ideal for individuals who live in urban areas. Neo Financial partners with thousands of restaurants, coffee shops, grocery stores and gas stations. If you don’t live close to the partner vendors, it’ll be challenging to take advantage of the cash back rewards. In addition, Neo Financial’s flexibility and no fees are beneficial for all users.


How To Choose A Gas Credit Card

The above list demonstrates the variety of available options, but how does one choose the right one? When choosing a gas credit card, you need to consider several factors:

  •       What are your driving habits? Do you drive frequently? Do you commute to work every day or do you work from home? Do you stick to one gas station or fill up wherever it’s convenient? Knowing your habits will help you choose between a branded and a generic card.
  •       What is the reward structure? Some cards offer flat-rate rewards on all purchases, while others have tiered or rotating categories. Pick a Card that matches your typical spending habits and reap the rewards.
  •       What are the card’s fees? Some gas credit cards with high annual fees may quickly eat into your rewards. Always try and calculate whether the rewards outweigh the fees before applying.

Maximizing the Benefits of Your Gas Credit Card

So how do you get the most out of your gas credit card? Below are a few tips on how to maximize the benefits that come with these cards.

  •       Use your gas credit cards for gas purchases. Yes, this seems obvious but it’s easy to forget if you’re not used to carrying the card with you.
  •       Pay your balance each month. Gas credit cards have a higher interest rate than regular credit cards, so if you carry a balance those fees accumulate rapidly.
  •       Keep an eye out for bonus categories or promotions. Many gas credit cards offer special rewards for certain categories during specific times. You can take advantage of these offers when appropriate and boost rewards significantly.

Tips for Using Your Gas Credit Card Wisely

Besides maximizing rewards, you need to know how to manage your card wisely to not fall into unnecessary pitfalls or incur extra charges. Here are a few tips:

  •       Pay your balance each month. This point bears repeating, as it is the easiest way to avoid interest charges and late payment fees.
  •       Don’t max out your credit limit. Avoid overutilizing your card, as this negatively impacts your credit score. A good credit utilization ratio to aim for is around 30%. That is, try to use 30% or less of your available credit each month.
  •       Review your credit card statements regularly. This can help you catch irregularities, and track your spending and rewards.
  •       Protect your card from theft or fraud. If you do notice an irregularity in your credit card statement, report it to your credit card issuer immediately.

Conclusion: Picking the Right Gas Credit Card for Your Wallet

Choosing the right gas credit card can make all the difference to your finances. For many, gasoline is an expensive monthly essential, and signing up for a gas credit card offers them the opportunity to save money every single month. The long-term benefits are clear, and if utilized correctly, a gas credit card comes with several exciting benefits and rewards.

Finding the right gas credit card for you is a matter of considering your lifestyle, financial goals and the potential benefits and costs of gas credit cards on the market today. The next time you head over to the gas station you can be assured that you are getting more value back for your purchase.

Gas Credit Cards -  Frequently Asked Questions

Q: Can I use a gas credit card for other purchases?

A: Yes, most gas credit cards can be used for other purchases. However, they offer the highest rewards on gas purchases.

 

Q: Do gas credit cards have high interest rates?

A: Yes, gas credit cards can have higher interest rates than regular credit cards.

 

Q: Can a gas credit card improve my credit score?

A:  Yes, by using your gas credit card responsibly and making timely payments, you can build a positive credit history and improve your credit score.

 

Q: How do I redeem rewards from my gas credit card?

A: The process varies by card. Some cards automatically apply your rewards as statement credits, while others require you to redeem your rewards through their online portal.

Author Bio

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Mohamed Konate

Mohamed Konate is a personal finance expert, blogger, and marketing consultant based in Toronto. He is a former financial services professional who worked at major Canadian financial institutions for many years. He managed the marketing strategy around various financial products ranging from credit cards to lines of credit. Mohamed is passionate about personal finance and holds a Bachelor's in Business Administration from the University of Quebec (Montreal) and a Master's in International Business from the University of Sherbrooke (Quebec). He is also the author of the Canadian Credit Card Guidebook.