Why we like it<\/h4> If you're looking for a $0 annual fee credit card with unlimited cash back rewards and a competitive balance transfer offer, then the Tangerine World Mastercard could be right for you. 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. Get $120 with a Money-Back World Mastercard when you spend $1,500 in the first 3 months. Valid until November 30, 2026<\/b>.<\/p><\/div>\n\t\t\tPros & cons\n\t\t\t<\/use><\/svg><\/button>Pros<\/h4>\n\t\t\t\t\t\t\t\tGet $120 with a Money-Back World Mastercard when you spend $1,500 in the first 3 months. Valid until November 30, 2026<\/b>. Plus, get a 1.95% interest rate on balance transfers for the first 6 months.\n\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\tEarn 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.\n\t\t\t\t\t\t\t<\/li> \n\t\t\t\t\t\t\t\t$0 annual fee\n\t\t\t\t\t\t\t<\/li> \n\t\t\t\t\t\t\t\tBalance transfer offer of 1.95% for the first 6 months\n\t\t\t\t\t\t\t<\/li> \n\t\t\t\t\t\t\t\tEnjoy exclusive dining, retail and spa offers in over 650 airports worldwide with a complimentary Mastercard Travel Pass provided by DragonPass.\n\t\t\t\t\t\t\t<\/li><\/ul><\/div>Cons<\/h4>\n\t\t\t\t\t\t\t\tYou need a minimum personal income of $50,000 or a combined household income of at least $80,000 to apply for this card\n\t\t\t\t\t\t\t<\/li> \n\t\t\t\t\t\t\t\tYou'll face a foreign transaction fee of 2.5% every time you use your card overseas or online with international retailers\n\t\t\t\t\t\t\t<\/li> \n\t\t\t\t\t\t\t\tThough this card offers some nice travel perks, it doesn't come with many of the travel benefits offered by more premium credit cards such as complimentary travel insurance and free flight and hotel upgrades\n\t\t\t\t\t\t\t<\/li><\/ul><\/div><\/div><\/div><\/div><\/td><\/tr><\/tbody><\/table>loading<\/span><\/div><\/div><\/form><\/section><\/div><\/div>\n <\/div>\n<\/div>\n <\/div>\n
Tangerine credit card categories<\/h3> The 10 Tangerine credit card categories people can choose from to earn a higher cash back return rate are:<\/p>
Drug store<\/li> Eating Places<\/li> Entertainment<\/li> Furniture<\/li> Gas<\/li> Grocery<\/li> Home Improvement<\/li> Hotel & Motel<\/li> Public Transportation and Parking<\/li> Recurring Bill Payments<\/li><\/ul>You\u2019ll be able to choose your 2 or 3 high-earn categories when you activate your new Tangerine credit card. You can switch up your high-earn categories by first logging in to Tangerine\u2019s online banking, going to your Tangerine Credit Card Account and clicking \u2018Rewards\u2019. Then click \u2018Change Categories\u2019 under the category icons to update your picks.<\/p>
How to earn cash back using Tangerine credit card categories<\/h3> Tangerine is the only bank in Canada that allows you to choose which categories you\u2019d like to earn a higher cash back rate on. That means you can strategically choose to earn more on the categories you spend the most on. Let\u2019s look at an example to see how earning cash back using various Tangerine credit card categories can work.<\/p>
Let\u2019s use the Tangerine Money-Back Credit Card as an example: 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.<\/p>
Erin, an Ontario resident, is looking to optimize her spending. She applies for a Tangerine Money-Back Credit Card, and is able to access 3 high earn rate categories because she also has a Tangerine savings account<\/a>. Erin realizes that she tends to spend the most money on groceries, recurring bill payments and gas. The table below shows an example of how much cash back Erin could earn per month:<\/p>
Groceries<\/td> $400<\/td> 2%<\/td> $8<\/td><\/tr> Gas<\/td> $120<\/td> 2%<\/td> $2.40<\/td><\/tr> Recurring bill payments<\/td> $300<\/td> 2%<\/td> $6<\/td><\/tr> All other expenses<\/td> $300<\/td> 0.5%<\/td> $1.50<\/td><\/tr><\/tbody><\/table>In this example, Erin would get $17.90 in cash back directly deposited into her Tangerine savings account every month just by using her Tangerine credit card \u2013 which amounts to earning $214.80 in one year.<\/p>
While you may be able to find higher cash back earn rates with other credit cards, it\u2019s important to consider each card\u2019s annual fee. In order to make the most out of any cash back program, you need to make sure you plan to spend enough money on your card to earn at least enough cash back to make up the card\u2019s annual fee. One of the big perks of Tangerine credit cards is that they don\u2019t charge annual fees.<\/p>
Tangerine credit card benefits<\/h3> Here we breakdown some of the key benefits you\u2019ll get with a Tangerine credit card.<\/p>