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Tangerine Money-Back Credit Card Review

Choose your own accelerated cash back spending categories with the no annual fee Tangerine Money Back Credit Card.

Earn 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 0.5% cash back on everything else. You don’t have to pay an annual fee for this card, which means your rewards won’t cost you extra.

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10% cash back

Welcome Offer

$0

Annual Fee

Up to 2% cash back

Rewards

Details

RewardsEarn 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 0.5% cash back on everything else.
Welcome OfferEarn 10% cash back (up to $100) on up to $1,000 of purchases in the first 2 months Until July 31, 2022.
Purchase Interest Rate19.95%
Cash Advance Rate19.95%
Balance Transfer Rate1.95% for the first 6 months (then 19.95%)
Interest Free Period Up to 21 days
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More Info

30-second take

  • Get the Tangerine Money-Back Credit Card if you want to choose your own cash back spending categories.
  • Choose something else if you’re looking for a flat-rate of cash back.

Tangerine Money-Back Credit Card: The basics

The Tangerine Money-Back Credit Card is a no annual fee cash back Tangerine credit card that allows you to earn cash back in up to three spending categories of your choice.

Earn 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 0.5% cash back on everything else. With no limit to the amount of cash back you can earn, your cash back is directly deposited into your bank account at the beginning of each month.

Money-Back Categories

You can choose from the following categories to earn 2% cash back:

  • Grocery
  • Furniture
  • Restaurants
  • Hotel-Motel
  • Gas
  • Recurring bill payments
  • Drug store
  • Home improvement
  • Entertainment
  • Public transportation and parking

The perks

  • Cash back rewards. Earn 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 0.5% cash back on everything else.
  • Unlimited cash back. There is no limit to the amount of cash back you can earn each month from your spending with this Tangerine credit card.
  • No annual fee. The Tangerine Money-Back Credit Card has no annual fee.
  • Balance transfer offer. Get a 1.95% interest rate on balance transfers for the first six months. To take advantage of this offer, you must complete the Balance Transfer request within 30 days of account approval and activate your card within 45 days of approval. A balance transfer fee equaling the greater of 3% or $5 will be charged on each transferred amount (fee is waived by Tangerine if you're a resident of Quebec).
  • Internet and mobile banking. Tangerine does most of its business online which means the Tangerine Online Banking and mobile app are used by customers. Using the secure website or mobile app, you can move money between accounts, send money to others, ask for a credit limit increase, pay your bills, open new accounts and generally manage your money.
  • Credit cards security. Tangerine has a DoubleSafe log in process which requires you to enter multiple types of information in order to log in to your account. To access your account, you must provide your account number and a special six digit PIN code, as well as confirm a pre-selected image and phrase. The image and phrase should always be the same, which creates an extra level of security for your account. Furthermore, Tangerine keep in contact with you via Orange Alerts, which are sent to you via email and keep you in the loop with what’s happening on your account.

What to watch out for with this Tangerine credit card

  • No physical branch locations. Tangerine is a mostly online-only bank, which means you can’t visit a branch in person – unless you live close to one of the five Tangerine Cafes located across Canada.
  • Lower cash back on other categories. You’ll only earn 0.5% cash back on other spending categories.

What should I know before I apply for the Tangerine Money-Back Credit Card?

Eligibility requirements

To apply for the Tangerine Money-Back Credit Card you need to:

  • Be a Canadian citizen or a permanent resident.
  • Be at least 18 years of age, or the age of majority in your province or territory of residence.
  • A minimum income of at least $12,000.
  • Have a credit score of 600 (a credit rating of good to excellent).
  • Clear of bankruptcies over the past 7 years.

Required documents and information

  • Your full name and contact information.
  • Your social insurance number and date of birth.
  • Your employment details.
  • Your financial information, including any debts and assets.

How to apply for this Tangerine credit card

  1. Click Go to site on this page to be securely directed to your Tangerine Money-Back Credit Card application.
  2. Read through the Disclosure Statement details on the Tangerine credit card site, click accept and continue.
  3. Complete the application with details that include your name, email address, social insurance number and birth date.
  4. Review and submit your application.

What makes Tangerine different?

Formerly known as ING Direct, Tangerine is a unique bank that has only five brick-and-mortar stores across Canada (known as Tangerine Cafes). Functioning mostly online, Tangerine has a big presence established on the Internet and via their mobile app. With very few physical locations, Tangerine can pass the savings back onto their customers. In 2012, Scotiabank acquired ING Bank of Canada and the name was changed to Tangerine.

Bottom line

The Tangerine Money-Back Credit Card comes with many perks including cash back, no annual fee and an optional balance transfer offer. Whether you’re a big spender and want to earn cash back rewards for your spending or you’re simply looking to save with no annual fee and a low balance transfer rate, this credit card may be a good fit for you.

Frequently asked questions about the Tangerine Money Back Credit Card

How do I activate my Tangerine credit card?

Once you receive your physical credit card in the mail, you’ll need to activate it online. When you login to your account, you’ll see a message near the top of the screen that prompts you to activate your credit card. Simply click “Activate Card”, which will immediately activate your credit card for you.

How do I access my Tangerine Online Banking?

Navigate to the secure Tangerine Online Banking website or use the Tangerine mobile app.

How is interest calculated on my Tangerine Money Back Credit Card?

Interest is calculated daily if you hold a balance on your Tangerine Money-Back Credit Card. Like most credit cards, you will be charged monthly for the total amount of interest.

How can I change my 2% Money-Back Categories?

Login to your account and navigate to your credit card. Click on “Rewards” and then click on “Change Categories”. You can then select your new 2% Money-Back Categories. Take note that these changes won’t take place immediately since you can only change them monthly, instead you will be presented with a date that notifies you when the changes will take place.

How can I increase the credit limit on my Tangerine Money-Back Credit Card?

Login to your account and navigate to your credit card. Click on “Account Details” and then click “Change” under “Credit Limit & Cash Advance”. You can then enter your desired limit increase, but it’s not guaranteed that you will be given it – all changes are subject to a credit check.

What other products does Tangerine offer?

In addition to the Tangerine Money-Back Credit Card, Tangerine offers savings, chequing and investment accounts, credit cards, investment opportunities, as well as loans, mortgages, GICs and other borrowing opportunities.

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