Our Verdict
Verdict (9/10): The Tangerine Money-Back card excels in simplicity and rewarding adaptability. Its flexible 2 % categories, hassle-free monthly payouts, and generous welcome bonus set it apart from other no-fee cards. The minimal perks (purchase protection, extended warranty) and moderate base rate (0.5 %) are minor trade-offs for most - but the overall value remains exceptional.
Our Score
9
Pros
- No annual fee – keep rewards without paying to hold the card.
- Customizable 2% categories – choose spending areas that fit your lifestyle.
- Unlock a 3rd category by depositing cash back into a Tangerine Savings Account.
- Generous welcome bonus – 10% cash back on the first $1,000 spent (up to $100).
- Straightforward rewards – no complicated point systems.
- Balance transfer promo – 1.95% for 6 months helps consolidate debt at low cost.
- Purchase protection & extended warranty – covers eligible items automatically.
- Free authorized users – up to 5 at no extra cost.
Cons
- Base rate is low – only 0.5% on non-category purchases.
- Income requirement – $12,000 minimum, which may exclude some applicants.
- No premium travel perks – lacks insurance like travel medical or trip cancellation.
- Foreign transaction fee – standard 2.5% on purchases abroad.
- Limited insurance coverage compared to Tangerine World Mastercard.
Tangerine Money-Back Credit Card - At a Glance
2% Cash Back
Up to 3 categories
10% Welcome Bonus
On first $1,000 spend
No Annual Fee
1.95% Balance Transfer
6 months promo
Purchase Protection
& Extended Warranty
Tangerine Money Back Card Overview
- Cash Back: 2% in two categories of your choice, plus a 3rd if you deposit rewards into a Tangerine Savings Account. 0.5% on all other purchases.
- Welcome Bonus: 10% cash back on up to $1,000 in purchases within the first 2 months (max $100).
- Balance Transfer: 1.95% intro rate for 6 months (then 22.95%), 1-3% fee depending on province.
- Fees: $0 annual fee, 2.5% foreign currency conversion, $25 dishonoured payment fee.
- Insurance: Purchase protection and extended warranty coverage included.
- Accessibility: Add up to 5 free authorized users.
Rewards Calculator
Estimate your monthly cash back based on spending in your chosen categories.FAQs
Is there an annual fee?
No. The Tangerine Money-Back Credit Card has no annual fee.How do the 2% categories work?
You pick two spending categories (e.g., groceries, gas, restaurants) to earn 2% cash back. Open a Tangerine Savings Account and you unlock a 3rd category.What's the welcome bonus?
You'll earn 10% cash back (up to $100) on the first $1,000 you spend in the first two months.Does the card include insurance?
Yes. It comes with purchase protection and extended warranty coverage on eligible items.Is there a balance transfer option?
Yes. 1.95% for the first 6 months, then 22.95%, with a 1–3% fee depending on province.Detailed Product Breakdown
Earning Structure
- 2% cash back in up to two categories of your choosing (e.g., groceries, gas, restaurants).
- Unlock a 3rd 2% category when you deposit rewards into a Tangerine Savings Account.
- 0.5% cash back on all other purchases.
- Welcome Bonus: 10% cash back on up to $1,000 spent in the first 2 months (max $100).
Benefits & Perks
- No annual fee – earn rewards without ongoing costs.
- Purchase protection & extended warranty up to $60,000 lifetime on eligible items.
- Up to 5 free authorized users at no additional cost.
- Balance Transfer: 1.95% intro rate for 6 months (then 22.95%), plus 1–3% fee depending on province.
Drawbacks to Consider
- Base rate of 0.5% on non-category purchases is lower than some competitors.
- No travel or premium perks (e.g., medical insurance, lounge access, mobile device coverage).
Recommended For
- Everyday Canadians who want a flexible, simple cash-back card with no annual fee.
- People who want customizable 2% categories that adapt to their lifestyle.
- Moderate spenders who value consistency and maximizing rewards on common expenses.
