EDIT: Tangerine is extending this fantastic credit card offer until October 4, 2021!
Today, Tangerine Bank announced a juicy new sign up bonus offer on it’s no-fee cash back MasterCards. Until October 4, 2021, apply for either the Tangerine Money-Back Credit Card or the the Tangerine World Mastercard® and earn 10% cash back on all purchases in the first 2 months!!
Note that 10% cash back is capped on $1,000 of purchases in the first 2 months. This means you can earn a total cash back reward of $100! Once you’ve reached the 10% cash back limit, the regular cash back rate returns to the following:
- 2% for your chosen categories (grocery, gas, restaurant, etc)
- 0.5% on all other purchases.
I’ve written previously why Tangerine is one of the best online banks in Canada and their credit cards are no exception.
Here are more details about both these no annual fee Tangerine cards.
Money-back Credit Card
Tangerine’s Money-Back Credit Card is one of the best no annual fee cash back credit cards in Canada. It’s highly regarded by many for the following reasons:
- No annual fee. You don’t pay anything to hold this credit card and is an excellent choice for a first time credit card holders.
- 2% cash back on up to 3 categories. You can earn 2% cashback on 2 Money-Back categories. These include grocery, gas, restaurants, entertainment, furniture, hotel-motel, drug store, home improvement, public transportation & parking and recurring bill payments. You can add a 3rd category if you opt to have your cash back deposited into your savings account.
- 0.5% cash back on other categories. For all other purchases, you’ll earn 0.5% cash back. What’s great though is that you can update your choice of categories that earn 2% at anytime. Take advantage of this feature by switching to the Home Improvement category before starting a home renovation or to the Hotel-Motel category before going on vacation.
- Monthly earning. Unlike other cash back credit cards which pay out only once a year, the Money-back Credit Card pays out every month! It can be applied to your credit card balance or redeemed into your savings account.
- Connect to mobile wallets. Connect your Tangerine credit card with Apple Pay, Google Pay or Samsung Pay to pay with your smartphone while on the go.
Some other useful features with this card include free additional authorized users, purchase assurance (covers loss, theft or damage in the first 90 days) and extended warranty (doubles the period of repair services up to 1 year).
Tangerine World Mastercard
The Tangerine World Mastercard also has no annual fee and has all the core benefits as the Money-back credit card. But, it has some additional benefits and perks such as the following:
- Rental Car Collision/loss Damage Insurance. Damage and theft protection for your car rental when you rent for up to 31 consecutive days and charge the full cost of your rental to your card.
- Mobile Device Insurance. Protection on new cell phones, smartphones or tablets when you charge the full cost to your card, or when you purchase it through a plan and charge all of your wireless bill payments to your card. Covers up to $1,000 if your mobile device is lost, stolen, accidentally damaged or experiences mechanical failure.
- Mastercard® Airport Experiences Provided by LoungeKey. Make the most of your travel with Mastercard® Airport Experiences Provided by LoungeKey. Your complimentary membership gives you exclusive dining, retail and spa offers in over 400 airports worldwide, along with access to over 1,000 lounges at $32 USD per visit. Learn more here.
Note that to apply for the Tangerine World Mastercard, it’s necessary to have a minimum income of $60,000 or a household income of $100,000 with a good/excellent credit score. If you don’t qualify for this card, then it’s still possible to apply for the Tangerine Money-back credit card which has a lower income requirement of $12,000.
**Important notice** applying for this credit card will result in hard inquiry by Tangerine on your credit report.
Plus, you’ll be able to check your credit card transactions on the Tangerine mobile app for iOS and Android. It’s straightforward to use, has a clear interface and allows you to do almost all your transactions from your phone. For example, you can check your account balance, transfer money between accounts, pay bills, deposit cheques and send email money transfers.
For a limited-time, Tangerine is offering 10% cash back for the first 2 months on both the Tangerine Money-Back Credit Card and the Tangerine World Mastercard. This means you could earn up to $100 cash back (10% on a max of $1,000 in purchases) on either one of these no annual fee cards.
Also, these cards are great to keep long term because they both let you earn between 0.5% – 2% cash back depending on your chosen categories. The main differences between them is that the Tangerine World MasterCard has more insurance coverage and requires a personal annual income of $60,000 to apply.
But hurry, this Tangerine promotion ends on October 4, 2021!!
I’ve personally used Tangerine bank for over four years now and I’m quite pleased with their banking services. They offer no monthly fees for their chequing and savings accounts, free withdrawals at Scotiabank ATMs, and you can deposit cheques via their smartphone app.
Check out my review to read why Tangerine is one of the best online banks in Canada!
Interested in opening a new Tangerine chequing or savings account? Don’t forget to add Orange key 53627297S1 during your application to earn a bonus $50.*
*Terms and conditions apply
Affiliate disclaimer: This review is based on my own personal experience with Tangerine and is not sponsored by them. My blog contains referral or affiliate links. I receive a small commission at no additional cost to you. Thank you for your continued support.
Tangerine is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information, please visit the Tangerine website.