Tangerine World Mastercard review

The basics

If you’re looking for a decent cash back return with all the bells and whistles, then you might like to check out the Tangerine World Mastercard.

• No annual fee. This card comes with no annual fee.
• Welcome offer. Earn 10% cash back (up to $100) when you spend $1,000 in the first 2 months. Valid until October 31, 2024.
• Earn cash back. Earn unlimited 2% cash back in two Tangerine credit card categories of your choice (or three categories if you open a Tangerine Savings Account and directly deposit your cash back into the account), and unlimited 0.5% cash back on everything else. Conditions apply.
• Flexible categories. Change your categories to suit your spending habits whenever you see fit.
• Balance transfer offer. Get a 1.95% interest rate on balance transfers for the first six months. You must request a balance transfer within 30 days of approval and activate your card within 45 days of approval. A 1% fee applies (waived for Quebec residents). Other terms and conditions apply.
• Unlimited cash back. Accumulate as much cash back as you want with no monthly or annual caps on earning potential.
• Easy redemption. Use the cash back you earn to pay off your outstanding credit card balance or put money into your savings account.

The perks

• Product coverage. Protect your purchases with insurance and extended warranty coverage.
• Car rental insurance. Get damage and theft protection on your rental car for up to 31 days when you pay on your credit card.
• Mobile device insurance. Lock in up to $1,000 of insurance to replace your phone if it gets lost, stolen or damaged (some conditions apply).
• Airport lounge access. Get a Mastercard Travel Pass Provided by DragonPass. This complimentary membership gives you exclusive dining, retail and spa offers in over 650 airports worldwide, along with access to over 1,300 airport lounges at $32 USD per visit.
• Global Wi-Fi access. Enjoy uninterrupted internet access at more than 1 million hotspots around the world through Boingo.
• Free additional cards. Pay no additional fee to order cards for up to five authorized users.
• Zero-liability coverage. Rest easy knowing that your card is protected from unauthorized use with zero-liability coverage.

What to watch out for

• Airport lounge access. Although discounted, you’ll still have to pay a fee to enter eligible airport lounges.
• No travel insurance. You won’t get travel medical or trip interruption/cancellation insurance to cover the time spent overseas.
• Foreign transaction fees apply. You’ll have to pay a 2.5% currency conversion fee whenever you spend money outside of Canada.
• Income requirement. The minimum income you’ll need to be approved for this card is $50,000.

Tangerine World Mastercard interest rates

What should I know before I apply for the Tangerine World Mastercard

• Eligibility requirements

  To apply for a Tangerine World Mastercard, you will need to meet the following criteria:

  • Be a Canadian citizen or permanent resident who is at least 18 years old (19 in some provinces).
  • Have a minimum annual income of $50,000 or a household income of $80,000.

• You'll also need to provide the following documents and information:

  • Your name, residential status and contact information.
  • Your social insurance number (SIN) and date of birth.
  • Your email address and phone number.

How to apply for the Tangerine World Mastercard

1. Go to Tangerine's website and select Apply now.
2. Complete the application by providing your name, email address, SIN, birth date and other required information.
3. Consent to a credit check.
4. Review and submit your application.
5. If approved, you’ll get your new card in the mail within 10 business days.

Bottom line

The Tangerine World Mastercard gives you a decent return on cash back in up to three targeted spending categories for no annual fee. It also offers a balance transfer offer and comes with additional perks like mobile phone insurance, car rental insurance, discounted airport lounge access and a low introductory balance transfer rate.

It’s a great card if you want to earn cash back with no annual fee. But if you’re looking for a low-interest credit card or more extensive travel benefits, you might want to consider other options.