Online banks have taken Canada by storm. They’re considered cheaper alternatives to big banks that are generous with banking fees. One such online bank is Tangerine.
Tangerine prides itself on the simplicity and convenience of its service. Amongst their service offerings are credit cards that boast no annual fees. And they have competitive cashback benefits that easily make them the top choice for several Canadians.
Tangerine offers two credit cards, the Tangerine Money-Back credit card and the Tangerine World Mastercard. The Tangerine World Mastercard is the top-tier option, giving cardholders more benefits.
Both credit cards carry no annual fee. And they're enrolled in Tangerine's reward program, meaning you can earn cashback.
While Tangerine's credit cards aren't as many as other banks, they stand out for their spending, perks, and insurance benefits. They run on the Mastercard payment processing network. Therefore, you can use your card anywhere you see a Mastercard logo.
Besides having no annual fees and earning cashback rewards, Tangerine credit cards have the following perks:
Both Tangerine Mastercard credit cards have equivalent money-back benefits. These are their earn rates:
Tangerine allows you to choose which categories you earn money back. Therefore, you can target those on which you spend the most money. Your choices include:
What's more, you can unlock the third category to earn 2% money-back. You have to opt into Tangerine, depositing your rewards in a savings account.
A Tangerine credit card in hand is a great asset. However, there are drawbacks to being a cardholder. Consider these pros and cons when you look into getting a Tangerine credit card.
Make your money do more.
Offers shown here are from third-party advertisers. We are not an agent, representative, or broker of any advertiser, and we don’t endorse or recommend any particular offer. Information is provided by the advertiser and is shown without any representation or warranty from us as to its accuracy or applicability. Each offer is subject to the advertiser’s review, approval, and terms. We receive compensation from companies whose offers are shown here, and that may impact how and where offers appear (and in what order). We don’t include all products or offers out there, but we hope what you see will give you some great options.
Yes, you can apply for either of the Tangerine credit cards online. Visit their website, then click the ‘apply now’ button to get started. You’ll be redirected to another page where you can begin your application.
You’ll consent to a credit check when you apply for a Tangerine credit card. We recommend a good (660) to excellent credit score (900) to improve your chances of approval. Besides the credit score requirements, your record should be clear of bankruptcy declarations in the past seven years.
Yes, both Tangerine credit cards have income requirements. The Tangerine Money-Back Credit Card requires a $12,000 or more personal annual income. As for the Tangerine World MasterCard, the requirements are much higher.
You must have a gross annual income of $60,000 or more. If your gross domestic income is $100,000, you will also qualify for this credit card.
Unfortunately, the Tangerine credit cards don’t have travel insurance. However, the Tangerine World Mastercard has mobile device insurance and rental car coverage.