Tangerine Money-Back Credit Card Review – Best Credit Card in Canada 2022

Tangerine Money-Back Credit Card: Review, Eligibility, Cashback, Pros and Cons

Tangerine credit cards are the best no-annual-fee credit card in Canada and Best Student Credit Cards in Canada. As you know how troublesome it is to find the best credit card in Canada that includes all the exciting features and is still able to fulfill our desires. Tangerine Money-Back Credit card makes it easy for you to save money on every purchase and return you with exciting cashback and Money-back rewards.

Although, no-fee credit cards are in high demand nowadays as customers are preferring affordability. And, Tangerine Credit card is one of them that provides maximum satisfaction to their cardholders.

Card Name & Issuer: Tangerine Money-Back Credit Card

Tangerine was established as ING DIRECT CANADA on April 27, 1997. Particularly, they don’t have branches everywhere but it’s more like a website. Its headquarters is situated in Toronto.

Tangerine Money-Back Credit Card Annual Fee

As you are aware of the fact that Tangerine money-back credit card doesn’t require an annual fee. Therefore, you are good to go.

Eligibility Requirements for Tangerine Money-Back Credit Card

• The Gross annual income required for this card is $12,000 or more.
• And you must have attained the majority age in Canada.
• Must be a permanent resident of Canada.
• No history of Bankruptcies.

Tangerine Money-Back Credit Card Rewards/Offers

• You will earn 2% money-back rewards on any two purchase categories and 0.50% Money-back rewards on any other purchase category.
• There is no prior limit on earning money-back rewards.
• You can deposit all your tangerine money-back rewards on Tangerine savings account and get an extra 2% money-back category.
• 2% Money-Back Categories includes:
  • Grocery
  • Furniture
  • Hotels
  • Gas
  • Recurring bill payments
  • Restaurant

How to Apply for Tangerine Money-Back Credit Card?

• Visit the official site of Tangerine Money-back credit card. You need to register an account to apply for it.
• If you already have an account then you can choose to log in.
• Then you will be presented with a form on that particular site.
• Tangerine will be asking you about the employment information, annual salary, mailing addresses, and contact information.
• Read the full statements and fill the respective form and submit it.

Insurance Coverage on Tangerine Money-back Credit Card

• Purchase insurance:
  Purchase assurance is provided to cardholders to cover loss, theft, or any damage on new purchases made anywhere in the world.
  The validity of this insurance is up to 90 days from the date of purchase.
• Extend warranty

Tangerine Money-Back Credit Card Pros

• The crucial pros of this card are that there is no annual fee required.
• You can choose your money-back categories by yourself.
• Your money back category can be increased added with extra benefits.
• You will get various cashback offers along with a welcome offer
• Compatible with mobile payment apps.
• Cashbacks can be easily redeemed and transferred to a savings account.

Tangerine Money-Back Credit Card Cons

• Tangerine Bank doesn’t have any branch anywhere. they are like a web portal bank.
• Regular cashback rewards are not enough alluring for customers.
• Insurance coverage isn’t up to the mark.
• The purchase protection period is very much limited.
• You cannot give cashbacks as cash or cheques.

Editor’s Review on Tangerine Money-back Credit card

Tangerine Money-back credit card is no doubt a top-notch card. And it doesn’t require an annual fee. But at the same time, its money-back returns rate is quite low as compared to any other no annual fee credit card. Tangerine money-back credit card gives you the advantage of choosing your 2% money-back categories for money-back returns and apart from that, you can increase your money-back category too.

However, the Insurance coverage is also not up to the mark and the 2% money-back rate is very modest. At last, I would say the Tangerine Money-back credit card is quite beneficial for those who prefer affordability and don’t want to pay an annual fee but expect satisfying offers. Then this card would be the best option as it’s compatible with mobile Payment apps like Gay. And Redeeming is easier for cardholders because the money-back rate gets transferred to the Tangerine savings account automatically and can be redeemed as per the user’s preference.

FAQs (Frequently Asked Questions)