Best Tangerine Credit Cards in Canada for 2022

 

Compare the Best Tangerine Credit Cards

Tangerine credit cards lean heavily on cash-back rewards. Cashback is used towards the card balance on a monthly basis or can be directly deposited into a Tangerine Savings Account.

Best Tangerine Credit cards

Tangerine's credit cards come with $0 annual fees and offer card holders up to 2% back in rewards. The bank offers two Mastercards: the Tangerine World Mastercard and the Tangerine Money-Back Credit Card.

 

Tangerine Money-Back Credit Card

  • Unlimited monthly cash back rewards
  • Personalized rewards categories



Tangerine Credit Card Cash Back Categories
:

      • Grocery
      • Furniture
      • Restaurants
      • Hotel-Motel
      • Gas
      • Recurring Bill Payments
      • Drug Store
      • Home Improvement
      • Entertainment
      • Public Transportation and Parking

 

Tangerine Credit Card Insurance

Purchase Assurance and Extended Warranty. For most new purchases made anywhere in the world using your Tangerine Money-Back Credit Card, you may receive a lifetime maximum of up to $60,000 for the following insurance coverage:

  • Purchase Assurance to automatically cover loss, theft or damage on most new insured items for 90 days from the date of purchase
  • Extended Warranty which may double the period of repair services to a maximum of one year



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.

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. Overall it is a great credit card for those who would like to maximize the cashback they earn by choosing their spend categories to earn more cashback.

 

Tangerine World Mastercard


  • Unlimited monthly cash back rewards
  • Personalized rewards categories
  • Boingo Wi-Fi for Mastercard
  • Mastercardtravel rewards
  • On-Demand and Subscription Services
  • Rental car insurance
  • Mobile device insurance
  • Mastercard airport experiences from LoungeKey



Rental Car Collision/Loss Damage Insurance

Damage and theft protection for your car rental when you rent for up to 31 consecutive days and charge the full cost of your rental to your Card.

Mobile Device Insurance

Protection on new cell phones, smartphones or tablets when you charge the full cost to your Card, or when you purchase it through a plan and charge all of your wireless bill payments to your Card. Covers up to$1,000 if your mobile device is lost, stolen, accidentally damaged or experiences mechanical failure.

On-Demand and Subscription Services

Save on the things you love with your Tangerine World Mastercard. Enjoy special benefits and offers from a growing lineup of on-demand apps and subscription services made available to you as a Tangerine World Mastercard cardholder.

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.

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.


Tangerine Credit Cards Overview

If you are looking for the right credit card for your needs, you might not have heard of Tangerine credit cards yet. This online bank offers the same things as other Canadian banks without the high fees, including a very impressive line of credit card options.

It’s not surprising today to find businesses that once depended on brick-and-mortar locations to be completely online. However, at the time Tangerine launched, this was unusual, especially for a financial institution. Today this branch-free bank is offering services that other banks can’t. This is because they don’t have the cost of expensive brick-and-mortar branches and they happily pass their savings onto their customers. That means higher interest for savings accounts, and very few unexpected or overly high service fees.

Since 1997 when they first launched as ING Direct, Canadians were fed up with high fees and low interest rates not to mention inconvenient banking hours. ING Direct offered a long-awaited alternative that not just got rid of the need for branches but introduced “affordable” banking with better options than other banks. 

Finally, Canadians had an alternative that made it possible to make a real choice for how their money was managed, saved and accessed. Although some were leery of the idea of a branchless bank, others found that ING, now Tangerine was in fact just as safe and secure, but far more innovative in their approach to banking. This realization soon spread and now Canadians are benefiting from the vision of fair banking in a very convenient online service. Here are the best Tangerine credit cards available.

 
Canadian residents who want to earn cashback based on their purchase amounts and not their purchase locations will find below the Tangerine Credit Cards.

In 2012, ING Direct was acquired by Scotiabank, which relaunched the bank as Tangerine. Today, Tangerine is the most widely accessed online bank in the country. It offers a broad range of financial products, including chequing accounts, savings accounts, investments, and credit cards.

Consumers who want to earn cashback based on their purchase amounts and not their purchase locations will find that Tangerine Credit Cards are the perfect match. In addition, Tangerine does not penalize low-income earners making this a great option for students and low-income earners who still want to be rewarded for their spending.

Benefits and Perks of Tangerine Credit Cards

Tangerine Credit Cards offer generous cash back perks. The Tangerine Money-Back credit card offers 2% cashback in up to three categories such as groceries, entertainment, gas, etc. This allows shoppers to choose where they want to be rewarded, which is very generous since most credit cards only offer select merchants within select categories. In addition, cardholders earn .5% back on all other purchases at all times.

Tangerine credit card balance transfer offer

Other benefits include a low balance transfer of just 1.95% for eligible applicants and no annual fee which makes it an affordable option for credit consumers.

Additionally, the Tangerine Money-Back credit card only requires an income of $12K so every household can enjoy its benefits.
The Tangerine World Mastercard requires a minimum personal income of 60k or a household income of 100k.

The Tangerine World Mastercard offers similar perks with 2% cashback in two shopping categories and .5% cash-back on everyday purchases. In addition, Tangerine credit cards do not place a cashback annual limit on potential earnings so if you keep spending you keep earning.

Tangerine Credit Card Cons

It should be noted that Tangerine credit card holders can only elect to change their categories every 90 days. Therefore, if you find that you are not spending as much as you thought within a category you will need to wait to change your selection. In addition, wholesale purchases do not count toward rewards totals. Frequent Costco shoppers therefore may not earn as much as they initially thought within the grocery category.

 

Conclusion

 

As you can see Tangerine has a limited selection of credit cards with just two available. They do make sure to cater to each end of the income spectrum offering a card for those making as little as $12,000 and then to higher-income households earning at least $60,000 for an individual or $100,000 for a household. They also offer different criteria so that you can either apply based on salary, or how much money you have with their bank either in savings or investments. 

However, this amount is quite high at $250,000. Both cards offer money-back rewards of 2% and have a reasonable, albeit not the lowest interest rate we’ve ever seen of 19.25%. Customers love the option to choose the categories for their money back as it allows them to earn more based on their buying habits and lifestyle. So someone who doesn’t drive can focus on public transportation instead of gas, and someone who rarely dines out can focus on groceries instead of restaurants. 

Other options include home improvement stores, drug stores, recurring bills, furniture, entertainment and travel with two category choices available. You can also choose to deposit your rewards points into your Tangerine savings account and get a third 2% Money-Back Category with this option. So you really can make it work based on your preferences, spending habits and financial goals.

 

 

Tangerine Money-Back Credit Card
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Details
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:
0 669
Poor or No Credit
Apply Nowlock On Tangerine's Secure Website

Earn an extra 15% back* for a limited time with a Tangerine Money-Back Credit Card.

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 Dec 29, 2022 and earn an extra 15% back (up to $150) 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®

 

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.

Take on the world, get an extra 15% back* on everyday purchases.

Apply for a Tangerine World Mastercard® by Dec 29, 2022 and earn an extra 15% back* (up to $150) 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®

 

Author Bio

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Mohamed Konate

Mohamed Konate is a personal finance expert, blogger, and marketing consultant based out of Toronto. He is a former financial services professional who worked for many years at major Canadian financial institutions where 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 in Business Administration from the University of Quebec (Montreal) and a Master in International Business from the University of Sherbrooke (Quebec).He is also the author of the Canadian Credit Card Guidebook.