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Tangerine® Money Back Mastercard®

Consumer Reviews, Credit Score, Fees, Application & Best Alternatives


Updated: Nov 22, 2020
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Issued by The Bank of Nova Scotia, Tangerine Money-Back credit card puts you in charge of your savings. It features exceptional cash-back rewards in up to three categories of your choosing, and you can change your mind and switch them up every 90 days.

Have the rewards deposited directly to your savings account, start earning competitive interest on them, or use them to pay off your balance - the choice is up to you. This is the original Tangerine card with a lot to offer to a responsible user. The upgraded version of this card, that comes with a higher requirement, is Tangerine World Mastercard.

Examine it carefully and see whether it's the right card for you and your family.

ANNUAL FEE:

$0*

ONGOING APR:

19.95% *

INTRO APR:

1.95%*

23 User Ratings Tangerine® Money Back Mastercard®

at Tangerine Secured website

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Introductory APR
1.95%*
Intro APR Period
6 months on BT*
Minimum Credit Score
Good*

Key Features


  • 1.95% Balance Transfer promo for 6 months (with a 1% fee)
  • Earn 2% Money-Back Rewards on your everyday purchases in two 2% Money-Back Categories of your choice, and 0.50% Money-Back Rewards on all your other everyday purchases.
  • Money-Back Rewards are earned automatically and paid monthly, and can either be applied towards your Credit Card balance or redeemed into your Savings Account.
  • No limit on the amount of Money-Back Rewards you can earn.
  • Change your 2% Money-Back Categories to suit your spending.
  • Orange Alerts are emailed to you so that you're up-to-date on what's happening in your Account.
$ 0 2020-11-29 InStock

Our Take


Tangerine Money-Back credit card can be one of the best additions to your wallet if you use it responsibly and avoid carrying a balance. It's intended for everyday purchases and can significantly boost your savings when paired up with a Tangerine savings account. It features competitive 2% cash-back rewards in up to three purchase categories, 0.5% cash-back in the remaining categories, and purchase assurance and extended warranty.

Tangerine Money-Back credit card can be one of the best additions to your wallet if you use it responsibly and avoid carrying a balance. It's intended for everyday purchases and can significantly boost your savings when paired up with a Tangerine savings account.

It features competitive 2% cash-back rewards in up to three purchase categories, 0.5% cash-back in the remaining categories, and purchase assurance and extended warranty.

The Money-Back card comes with valuable perks, but also has high fees. It's crucial to weigh its pros and cons and consider carefully whether the card's a suitable choice for your financial situation.

Who Is This Card for?


As a general rule of thumb, it's preferred that the applicants have a credit score of at least 650 since the card's primarily designed for those with a good or excellent rating. However, you could still get approval if you meet other essential criteria, such as the minimum income requirement of $12,000.

The card is a fine choice for any responsible user who wants to increase their savings and start making money off of their everyday purchases. You’ll be receiving cash-back on virtually any purchase, including groceries, gas, hotel-motel, and even public transport and parking and home improvement.

So, if you don't like annual fees and prefer to see your cash-back rewards every month, this card is for you.

Tangerine Money-Back Credit Card Benefits


The most significant benefit is the card's flexibility. You can choose where you want to earn the biggest cash-back rewards - you'll earn 2% on every purchase in your selected two categories, and in the additional third category if you choose to have the rewards deposited to your Tangerine savings account.

All the remaining categories will earn 0.5% cash-back.

You will get category suggestions based on your spending habits, and you can switch your rewards up every 90 days if you're not happy with the category you've chosen.

Are There Any Disadvantages?


The most significant disadvantage is the high-interest fees that you'll be paying if you carry a balance. New cardholders do have promotional balance transfer fees that are highly competitive, but you'll still have to pay interest on new purchases, cash advances, and more. Although there are no annual fees, the remaining fees could significantly affect your financial stability.

Should You Use This Card?


The Tangerine Money-Back card is a valuable addition to almost any wallet. As long as you're a responsible user who pays their debts on time and as long as you don't carry a balance, you can greatly benefit from this card.

If you meet the eligibility criteria, find the card's perks appealing, and its fees affordable, you should use it. If you want to have an upgraded version consider applying for Tangerine World Mastercard.


Pros

  • Excellent cash-back rewards in up to three categories
  • No annual fees
  • Up to five authorized users
  • Intro balance transfer fees for new cardholders
  • Low application requirements

Cons

  • No bonus rewards
  • High purchase interest rates
  • High foreign transaction fees
  • Low cash-back on regular purchases

Basic Information

Issuer: Tangerine
Network: Mastercard
Category: Consumer (Regular)
Common Uses:
  • Instant Decision
  • Every Day Purchases
  • EMV Chip
Rewards: Yes
Reward Types:
  • CashBack Reward Cards
  • Universal Reward Cards
  • Other Reward Cards
  • Merchandise Reward Cards
Reward Units: Cash
 

Rates & Fees

Introductory APR (%): 1.95%*
Applied Towards:
  • Balance Transfer
Intro Period: 6 months on BT*
Regular APR: 19.95%
Regular APR Type: N/A
Annual Fee: $0*
Balance Transfer: Yes*
APR on Cash Advances: 19.95%*
Grace Period: See Terms*
Late Payment Fee: See Terms*
 

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Additional Information & Comments

*This is a New Client Transfer Promotion of 1.95% for 6 months with a 1% fee. Clients will be eligible for this Balance Transfer promotion for 30 days after being approved for a Tangerine Credit Card.

Min. Personal Income Required to apply: $12000



IMPORTANT
*The information provided for Tangerine® Money Back Mastercard® is believed to be accurate at the time of evaluation or recent update on November 22, 2020. However, we strongly advise visitors to review the card fees and Terms & Conditions on the issuer's website by following Apply Now link to verify the accurancy of the information posted prior to applying for this card offer.
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