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Tangerine Money-Back Credit Card Review
19 Feb 2019

Tangerine Money-Back Credit Card | Credit Card Review

There are few things worse than getting a great cash back credit card and then finding out that the bonus categories it uses don’t work well with your spending patterns. The Tangerine Money-Back Credit Card changes things up by putting you in charge of designing your own cash back bonus category layout.

Take control of your credit destiny with 2% cash back on 2 categories of your choice.


General Information

You Are Interested If You want a cash back card that you can customize to suit your exact spending habits, whatever they might be.
Brief Description The Tangerine Money-Back Credit Card is an accessible cash back credit card that you can tailor to maximize rewards on your preferred spending habits.
Main Requirements Almost anyone can get this card as long as they have some income and their credit is not awful.

Card Details

Network Mastercard.
Provider Tangerine Bank.
Card Type You’ll get cash back rewards from this card.

Fees and Interest

Purchase Interest Rate Your usual statement balances will be charged 19.95% interest if they are not paid within the month.
Cash Advance Using this card to get cash will leave you with a balance that will also incur 19.95% in interest.
Balance Transfer Past the initial 6-month promotional period, you’ll be charged 19.95% interest on all transferred balances.


Income Requirements There are no real income requirements to qualify for this card, as long as you are consistently bringing in some money.
Household Income Requirements Your household income also does not have to be high to qualify for this card.
Annual Fee This is a no-fee credit card.


Welcome Bonus If you transfer a balance from another card within the first 30 days of owning this one, you can pay just 1.95% in interest on that balance for the first 6 months.
How To Earn Points While standard spending will only net you 0.5% cash back, this card allows you to choose 2 categories in which you’ll earn 2% cash back instead. You can extend this to one extra category if you have your cash back rewards deposited into a Tangerine savings account.
Benefits There are no additional benefits included with this card aside from extended warranties and purchase protection.

About Tangerine Money-Back Credit Card

Main Features

The Tangerine Money-Back Credit Card might technically be just another bottom-rung cash back credit card, but the way in which it is constructed also makes it something unique. Unlike most cards that dictate how you must spend your money in order to get access to the top rewards rates, this one actually allows you to choose which bonus categories you will get. The base rate for standard purchases is just 0.5%, but to increase that to a full 2%, all you have to do is shop in the categories you chose in advance. These can be anything from the popular gas and groceries combo to restaurants, public transportation, recurring bills or even home improvement supplies. If you choose to have your cash back rewards deposited into a Tangerine savings account rather than applied to your statement each month, you’ll also get access to yet another bonus category slot, bringing your total to 3. Rewards redemption will happen automatically on a monthly basis regardless of what you choose.

This level of flexibility is unmatched by any other card available right now, and the fact that this is a no-fee card only increases the appeal of that offer. Because it won’t cost you anything to have it, you can pair it with another cash back card with high-yield bonus categories and maximize your ability to earn rewards by switching between them. No matter what kind of spending is eligible for the bonus on the other card, you can use this one to cover the gaps. With this strategy, you could be earning decent amounts of cash back rewards on just about everything you buy. You can also switch the reward categories on this card after your latest set has been in effect for at least 90 days, making it easy to keep earning plenty of cash even as your spending habits shift.

This card doesn’t come with any benefits, but that isn’t such a big deal considering its generosity in other areas. As a low-level card, it would be unrealistic to expect it to come with anything more than the basics anyway; you usually need at least a mid-level card for that. You’ll be wanting this card for its rewards and its utility, and it delivers on both fronts. It also has a pretty good introductory balance transfer offer that makes it even more appealing for people with debts owing on other credit cards; paying just 1.95% in interest over 6 months is a pretty good deal that could result in some substantial savings, and once that initial debt is gone, you’ll have this great card ready to use however you please.


The Tangerine Money-Back Credit Card has potentially the best cash back yield of all entry-level credit cards on the Canadian market if you choose your bonus categories well. That alone makes it worthy of praise, but the fact that you can also shuffle your categories as your spending patterns evolve makes it even more valuable. The 6-month low-interest balance transfer is just the icing on the cake.

About Tangerine Bank

Tangerine Bank was once known as ING Direct, but has been operating under its current name since early 2014. It is currently a subsidiary of Scotiabank but still operates mostly independently. It’s part of a new wave of online-only banks that have begun arriving in Canada in the early 2010s, and as such, it has no actual branches to speak of. In spite of this, it still employs nearly 1,000 people to keep things running behind the scenes and owns nearly $38 billion in assets.

What We Think

The Tangerine Money-Back Credit Card is very unique offering, especially for such a low-level card. No other card allows you to have so much direct control over your rewards as this one does. If you’ve ever wanted to see what that was like, this is definitely the card for you – although most people will be extremely happy with its reward yield too.