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.
I have 13 years of experience in customer service at one of Brazil’s largest banks, including 5 years as a general branch manager. I am a specialist in banking products and services with a proven track record in team leadership and business development. I am also a holder of Brazilian certifications CPA-10 and CPA-20.
