Our Verdict
The Tangerine World Mastercard earns exceptional marks for successfully combining premium features with no annual fee, offering customizable 2% cash back categories that rival or exceed many fee-based competitors. The ability to change categories at will provides unmatched flexibility, while the inclusion of mobile device insurance and rental car coverage adds practical value rarely seen on no-fee cards. The 10% welcome bonus requiring just $1,000 in spending makes it one of the most accessible bonuses in the market, while the DragonPass membership provides genuine travel benefits even if lounge visits aren't free.
The card's limitations include the $50,000 income requirement that excludes some potential users and the 0.5% rate on non-category spending that significantly trails the 2% category rate. The requirement to pay $32 USD per lounge visit despite having membership feels like a missed opportunity, while the absence of travel medical insurance limits its appeal for frequent international travelers. Despite these shortcomings, for Canadians who can strategically use the customizable categories and value the unique combination of cash back flexibility and premium perks without fees, the Tangerine World Mastercard delivers outstanding value that challenges traditional assumptions about no-annual-fee cards.
Pros
- No annual fee
- Unlimited cash back
- Earn 10% cash back (up to $100) when you spend $1,000 in the first 2 months. Valid until August 31, 2025.
- Earn unlimited 2% cash back in up to 3 categories, and 0.5% elsewhere
- Balance transfer offer
- Airport lounge access
- Travel insurance coverage
Cons
- Still need to pay a fee for airport lounge access
- Must earn $50,000 a year to be eligible for card
- Lower cash back earned on other categories
- No physical bank branches for Tangerine
Tangerine World Mastercard
Premium-feeling perks with no annual fee. Customize your 2% categories, unlock a 3rd category with a Tangerine Savings Account, and enjoy practical protections like Mobile Device Insurance.
Annual Fee: $0
Limited-Time: Extra 10% back*
Customize 2% Categories (get 3rd with Savings)
Mobile Device Insurance**
At a Glance
NetworkMastercard
Annual Fee$0
WelcomeExtra 10% back*
Purchase APR20.95%
Balance Transfer (Intro)1.95%
BT Intro Fee1.95%
Balance Transfer (Regular)20.95%
BT Fee (Regular)3%
Foreign Currency Conversion2.50%
Dishonoured Payment Fee$25
Annual Interest (Alt)19.95%
Tangerine World Mastercard - FAQs
Is there really no annual fee?
Yes. The Tangerine World Mastercard has a $0 annual fee while still offering flexible 2% categories and 0.50% on other purchases.
How does the extra 10% cash back welcome offer work?
New cardholders can earn an extra 10% cash back on eligible purchases up to a capped amount within a set time after activation (e.g., first $1,000 in 2 months = $100). Check current terms on the issuer's offer page.
How do the 2% Money-Back categories work, and how do I unlock a third?
Choose two 2% categories (e.g., Groceries, Gas, Dining, Recurring Bills, Entertainment, Hotels, Public Transit & Parking, Drug Stores, Home Improvement, Furniture). Direct rewards to a Tangerine Savings Account to unlock a third 2% category. All other spend earns 0.50%.
Can I change my 2% categories?
Yes. You can update categories periodically to match seasonal or life changes, so your higher earn aligns with your real spending.
Is there a limit on cash back earnings?
There is no posted cap on Money-Back rewards. Promotional bonuses may have caps and timelines; always review current terms.
What is the balance transfer introductory rate, and are there fees?
Eligible transfers made shortly after account opening may receive an intro rate (e.g., 1.95% for 6 months) with an intro fee (e.g., 1.95%). After the promo, the regular BT APR (e.g., 20.95%) applies. Verify the current window and fees before transferring.
Are there foreign transaction fees?
Yes. Purchases in non-Canadian currency typically incur a 2.50% foreign currency conversion fee.
Does the card include Mobile Device Insurance?
When you buy an eligible device with the card, Mobile Device Insurance may cover loss, theft, or accidental damage up to stated limits. Review the policy for eligibility, limits, deductibles, and exclusions.
What other protections or benefits are included?
Common benefits include Purchase Protection, Extended Warranty, and World Mastercard conveniences. Terms and availability can change—check current benefit guides.
Is there a minimum income requirement?
Historically the World version has listed a minimum income threshold (personal or household). Requirements can change and approval isn't guaranteed; confirm on the current application page.
How do I redeem Money-Back rewards?
Redeem as statement credits or direct rewards into a Tangerine Savings Account (which also unlocks a 3rd 2% category). Redemption timing/minimums may apply - see account terms.
Do supplementary cards earn cash back too?
Authorized users typically share the same account and earn cash back to the primary cardholder's rewards balance. Limits and policies may apply.
Is the Tangerine World Mastercard good for travel?
It's practical for occasional travelers thanks to included protections and World Mastercard benefits. Note a foreign transaction fee typically applies; frequent international travelers may compare no-FX-fee cards.
Compare Tangerine World Mastercard vs. Top Alternatives
Headlines at a glance. Always verify current rates, fees, and bonuses on the issuer's website before applying.
Tangerine World Mastercard
Annual Fee$0
Base Earn0.50%
Bonus Earn
2% in 2 categories (3rd with Savings)
Welcome
Extra 10% cash back (limited-time)
Foreign Fee2.50%
Notables
Mobile Device Insurance; category flexibility; $0 annual fee
Apply
Rogers World Elite Mastercard
Annual Fee$0
Base EarnFlat-rate cash back*
Bonus Earn
Enhanced on foreign currency or select categories*
Welcome
Occasional promos*
Foreign FeeTypically applies*
Notables
Strong everyday earn structure; great for cross-border spenders*
PC Financial World Elite
Annual Fee$0
Base EarnPC Optimum points
Bonus Earn
Elevated earn at Loblaw/Shoppers banners
Welcome
Frequent new-member point bonuses*
Foreign FeeTypically applies*
Notables
Best fit for heavy PC/Loblaw ecosystem shoppers
Scotia Momentum Visa Infinite
Annual Fee~$120 (often rebated Y1*)
Base Earn1%
Bonus Earn
High cash back on groceries/recurring bills*
Welcome
Regular promos*
Foreign FeeTypically applies*
Notables
Great for households with heavy grocery and bill spend
Amex SimplyCash Preferred
Annual Fee~$119.99*
Base EarnStrong flat-rate cash back*
Bonus Earn
Elevated earn on select categories*
Welcome
Intro cash back promos*
Foreign FeeTypically applies*
Notables
Best for Amex-friendly spenders seeking high earn rates
* Competitor details can change frequently (earn rates, fees, FX treatments, welcome offers, income requirements). Verify on the issuer's official site before applying.
