Tangerine World Mastercard review

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Earn cash back in targeted spending categories and enjoy a wide array of benefits with this fee-free card. 

The Tangerine World Mastercard lets you earn a higher cash back return on the purchases you make most frequently. Earn unlimited 2% cash back in two 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.

19.95%

Purchase Interest Rate

$0

Annual Fee

Details

Product NameTangerine World Mastercard
RewardEarn 2% cash back in two 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 a $250 Bonus when you spend at least $5,000 on eligible everyday purchases in your first three months as a new cardholder. Apply online by March 31, 2020. Plus, get a 1.95% interest rate on balance transfers for the first six months (valid within the first 30 days of account opening).
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

  • Consider this card if you want a decent return on cash back for no annual fee.
  • Choose something else if you’d rather accumulate points or want a low-interest card.
  • You need a minimum annual income of $60,000 or a household income of $100,000 to qualify for this card.

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 bonus. Earn a $250 Bonus when you spend at least $5,000 on eligible everyday purchases in your first three months as a new cardholder. Apply online by March 31, 2020. Plus, get a 1.95% interest rate on balance transfers for the first six months (valid within the first 30 days of account opening).
  • Earn cash back. Earn unlimited 2% cash back in two 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. 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 1% balance transfer fee will be charged on each transferred amount (Fee is waived by Tangerine if you're a resident of Quebec).
  • 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.

Eligible spending categories

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

  • Groceries
  • Recurring bill payments
  • Drug store purchases
  • Restaurants
  • Home improvement
  • Furniture
  • Gas
  • Public transportation and parking
  • Hotels and motels
  • Entertainment

The perks

  • Product coverage. Protect your purchases with added insurance and extended warranty coverage.
  • Car rental insurance. Get damage and theft protection on your rental car for up to one month 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. Pay a discounted rate to enter airport lounges supported by the Mastercard Airport Experiences program.
  • Exclusive experiences. Enjoy unique offers on once-in-a-lifetime experiences around the world with Mastercard’s Priceless Cities program.
  • Enhanced security. Protect your purchases when you shop online with Mastercard SecureCode.
  • 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.
  • High interest. You’ll pay 19.95% interest on any outstanding balances you have.
  • 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 currency conversion fee whenever you spend money outside of Canada.
  • Difficult to qualify. The minimum income you’ll need to be approved for this card is $60,000.

What should I know before I apply

How to apply

  1. Click “Go to site” on this page to be directed to your Tangerine World Mastercard application.
  2. Complete the application, which includes providing your name, email address, social insurance number and birth date.
  3. Review and submit your application.

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 welcome bonus and comes with additional perks like mobile phone insurance, car rental insurance, discounted airport lounge access and a low introductory balance transfer rate.

Frequently asked questions about the Tangerine World Mastercard

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