In the world of credit cards, finding the perfect fit for your spending habits and financial goals can be a challenge. The Tangerine Money-Back Credit Card has been gaining popularity for its straightforward approach to rewards and its user-friendly features. In this comprehensive review, we’ll delve into the benefits, rewards, fees, and application process of the Tangerine Money-Back Credit Card, helping you decide if it’s the right choice for you.
Benefits of the Tangerine Money-Back Credit Card
The Tangerine Money-Back Credit Card offers many benefits that make it a great choice for Canadians looking for a new credit card. These benefits include:
- No annual fee. This means that you won’t have to pay an annual fee to keep your card active.
- Unlimited 2% cash back in 2 categories of your choice + 0.5% back on everything else. This means that you can earn cash back on the things that you spend the most on, such as groceries, gas, and dining.
- Up to 5 users can be added on one account with no annual fee for those cards. This is a great way to save money on credit card fees if you have a family.
- Track and categorize your spending. You can use the Tangerine app to track your spending and categorize your transactions. This can help you stay on budget and make better financial decisions.
- Transfer and save balances during your first 30 days, transfer balances up to your credit limit and pay an interest rate of only 1.95% on the transferred balance for 6 months (19.95% after that). This is a great way to consolidate your debt and save money on interest.
Cash Back Rewards Details
The Tangerine Money-Back Credit Card offers unlimited 2% cash back in 2 categories of your choice + 0.5% back on everything else. You can unlock a third category for 2$ cash back when you set your Rewards to be automatically deposited into a Tangerine Savings Account.
You can choose your categories from grocery, furniture, restaurants, hotel-motel, gas, recurring bill payments, drug store, home improvement, entertainment, and public transportation and parking.
There is a sign-up bonus offer of 10% cashback up to $100 for the first 2 months.
Fees
The Tangerine Money-Back Credit Card has an annual fee of $0. However, there are many other fees associated with the card, including:
- Balance transfer fee: 3% of the amount transferred, or a minimum of $5.00
- Promotional Balance transfer interest rate 1.95% interest for the first 6 months (19.95% after that)
- Foreign currency conversion fee: 2.50%
- Cash advance fee: $3.50 within Canada, $5.00 outside Canada
- Interest on Cash Advances: 19.95%
- Dishonoured payment: $25.00
- Overlimit fee: $25.00
- Rush Card fee: $25.00
- Past statement reprint: $5.00 per statement, no charge for reprint of current monthly statement
The Tangerine Money-Back Credit Card is a great choice for Canadians looking for a new credit card that offers unlimited cash back, no annual fee, and a variety of other benefits. If you are looking for a credit card that can help you save money and earn rewards, the Tangerine Money-Back Credit Card is a great option to consider.
How to Apply for the Tangerine Money-Back Credit Card
Ready to earn cash back on your everyday purchases? The Tangerine Money-Back Credit Card makes it easy to get started on your rewards journey.
With a simple online application process, you can be well on your way to enjoying the benefits of this no-annual-fee card. Let’s walk through the steps and requirements to get your application approved.
Eligibility Requirements for the Money-Back Credit Card
- You must be at least the age of majority.
- Be a Canadian resident.
- Have a gross annual income of $12,000 or more.
- Have no bankruptcy in the past 7 years.
How to Apply
Applying for the Tangerine Money-Back Credit Card is a straightforward process and you can apply online through the Tangerine Bank website. The application process is quick and easy and can be completed in minutes. Once you are approved, you can also set up mobile banking with the Tangerine Bank app.
By meeting the eligibility criteria and providing the necessary information, you can quickly be on your way to earning cash-back rewards on your everyday spending. Remember to review all terms and conditions before applying and use your credit card responsibly. Happy spending and saving!
