Tangerine Cash Back Credit Card Review

Annual Fee
$0
Max Earnings Rate
2%
Purchase Interest Rate
19.95%
Min Personal Income Required
$15,000
Recommended Credit Score
740 850 670 739 580 669 0 579
Fair_Good
Sign-Up Offer: Earn 4% in Money-Back Rewards on purchases in up to 3 Money-Back Categories of your choice

The no fee Tangerine Money Back Credit Card is an absolute steal for cash back rookies and connoisseurs alike.

The card is the richest and most consumer friendly no annual fee cash back credit card on the Canadian market right now, offering choice, convenience and unparalleled value to cardholders.

With no annual fee, a whopping 2% cash back in up to 3 merchant categories of your choice, and 0.5% everywhere else, with no limits, caps or tiers, the Tangerine Money Back credit card beats out most every other no-fee cash back card in the country – hands down.

The icing on the cake is that Tangerine offers new cardholders who apply and activate their card before July 31, 2019 a bonus for double cash back (4% instead of 2%). They’ll enjoy the bonus 4% rate for 92 days, and then it’ll be reduced back to 2%. An added bonus for new cardholders is also Tangerine’s low 1.95% interest rate for 6 months on balances transferred within 30 days.

What We Like About The Tangerine Cash Back Credit Card

  • No Annual Fee: With no annual fee, you’re not paying for your cash back. It also makes it risk-free to keep in your wallet as a companion to another credit card that earns you more cash back in other categories.
  • Unlimited Cash Back: Unlike many other cash back cards with bonus categories, there are no limits to how much cash back you can earn, whether it be in bonus categories or not – earn unlimited rewards.
  • 2% Cash Back In Up to 3 Categories of Your Choice: After the 90 day promotional period ends, earn 2% cash back on purchases in two 2% Money-Back Categories of your choice. No limits, no caps. If you redeem your cash back as a statement credit you’ll get to choose any two categories. Opt to have your cash back earnings deposited into a Tangerine Savings Account and you get to add a 3rd category absolutely free.
  • Limited-Time Bonus Rate: Earn 4% for 92 days in the two (or three) categories that you’ve chosen, just for applying and activating your card before July 31, 2019. The bonus 4% rate will automatically apply to the new category if you switch between them during the promotion.
  • Balance Transfer Offer: Pay just 1.95% interest for 6 months on balances transferred to Tangerine from other cards, if they’re transferred within 30 days of getting the card.
  • Receive 0.5% Cash Back On All Other Purchases: Earn 0.5% cash back on all other eligible spend, both in the promo and non-promo period. Again, no earning caps or limits on non-category spend.
  • You Choose The Categories: You choose 2-3 categories from any of the following 10 options:

Unlike some other cash back cards, Tangerine’s Grocery category includes ANY purchases made at Wal Mart Superstores – clothes, electronics, pharmacy, etc…

It’s important to note that Tangerine has no ‘Wholesale’ 2% category, but Costco shoppers shouldn’t lose hope, because merchant codes take precedence and vary by location. You should buy something small in your local Costco and then check the statement to see how much cash back was applied. If it was 0.50%, your Costco is a Warehouse, but it could be 2% if the store carries a Grocery merchant code.

Recurring bill payments are defined as any payments made on a monthly or other regular basis, and which are automatically billed by the merchant to your Tangerine Money-Back Credit Card, such as your monthly phone bill. Not all merchants offer recurring payments, and not all ongoing payments will be considered “recurring payments” for purposes of this category. Please check with your merchant to see if your recurring payment qualifies.

Also note that to set up automatic payment of your own monthly bill, you can only do so from a Tangerine account. Making automatic payments from other banks require the use of an external payment, which takes 3-5 business days.

  • Change Categories: You can change your categories at any time after you activate your Credit Card. Changes will take effect on the first monthly statement date after the existing categories have been in place for 90 days. In fact, Tangerine will even suggest which categories you should switch to based on your spending patterns, to maximize your cash back earnings:
  • Rewards Paid Automatically: Unlike many other cash back cards, redeeming is simple and convenient. Every month, Tangerine will either apply your cash back earned against the balance on your credit card statement, or it will direct your cash back earned into a Tangerine Savings Account. Compare that to some other cash back cards which only provide you with a statement credit at the end of each year or have $50 redemption minimums.
  • 2.5% Foreign Transaction Fees: Although not as good as a no foreign transaction fee (or 1.5%, we know) credit card, 2.5% compares favourably to most Canadian cards which can charge up to 3%.

Who Should Use The Tangerine Cash Back Card

As we said before, we believe the Tangerine Money-Back credit card is Canada’s answer to value, choice & convenience. With no annual fee, we would really encourage people to add this card to their wallet. Getting to choose up to three merchant categories to receive 2% cash back gives you tons of flexibility to optimize your earnings.

  • People With 1% Cash Back Cards: Why have a credit card which only gets you 1%, when Tangerine’s 2% in 3 different categories, with no fee and 0.5% on all other categories can reward you extra cash every year. Why leave money on the table, when it costs you absolutely NOTHING to get better value. If you have a 0.5% card, here’s your chance to get more at no cost.
  • People Who Can Pair It With Another Card With Different Bonus Categories: Let’s say you have the Scotia Visa Infinite Momentum card which comes with a $99 annual fee, and gives you 4% cash back on gas & groceries, 2% on pharmacy & recurring billing, 1% everywhere else. Why not pair it with the  Tangerine card, and get 2% in restaurants, entertainment and home improvement?
  • People Who Don’t Earn $60,000: Many people will look at some of the other cash back credit cards on the market, offering 2% flat or 4% bonus categories. Unfortunately, in most cases those cards are World Elite or Infinite cards requiring a minimum personal income of $60K or household income of $120K. The Tangerine cash back card is a great alternative, only requiring $15K in personal income, that in many cases can either do as well or better than the premium alternatives.
  • People Who Prefer Monthly Cash Back: Some people really don’t like having to wait for their cash back rewards once a year – especially if it’s a statement credit. The problem with that redemption method is, it forces you to keep using the card throughout the year. If you end up not using it after month 6, what good is  a statement credit in month 12? Tangerine’s method makes your convenience a priority, not the bank’s.
  • People Who Don’t Like Annual Fees: With no annual fee, and superb cash back rewards delivered automatically, there’s no reason no to give this card a try – especially with the 4% promo.

Tangerine Cash Back Hacks

One way to really exploit and max-out the Tangerine 2% bonus categories is through the use of gift cards. Let’s say you chose the grocery merchant category. Go to the gift card rack at the grocery store and buy your GAP, ITunes, Home Depot, Amazon, Canadian Tire, or Ikea gift card. Your gift card purchase will count as a purchase in your grocery category, giving you 2% cash back.

That’s an especially smart way to take advantage of your bonus categories and a great way to extend the value of your 2% categories to merchants not covered by your selected categories.

Click here to apply for Tangerine Money Back Credit Card

Article comments

73 comments
Wing says:

I applied the Tangerine credit card expecting most of my recurring charges would qualify for 2% rebate. Took me big surprise that only a Bell charge is considered recurring. Other charges such as Telus Mobility, Home phone and ISP charge, Insurance charge and Home security charge are not qualified as recurring. Tangerine told me to call the merchants to change their codes to recurring. Other than Telus, the rest of the merchants do not even know what I was asking. It’s really time-consuming to understand what’s going on with this category.

The GreedyRates Team says:

Hi Wing,

Great question and astute commentary. It’s easy to get a card like the Tangerine MoneyBack and expect that any charge which is literally recurring (e.g. it occurs in consistent and predictable time periods) will be eligible for the 2.00% rate on “recurring bills”, but there is a caveat Tangerine programs into its fine print. Specifically, “Not all merchants offer recurring payments, and not all ongoing payments will be considered “recurring payments” for purposes of this category.”

That simple sentence would make it legal for Tangerine to deny virtually all recurring bills and to place the blame on merchants, for assigning the wrong code to their recurring transactions. In practical terms this has meant the onus is on cardholders to take up with services that deploy the correct code. Traditionally these are phone and internet bills, and some others, but compiling a list of all merchants that give their recurring bills the correct code is a nearly impossible feat. Do your best and find value where you can! Thanks for the comment.

GreedyRates

Lucas says:

I already have a Fido Mastercard which offers no annual fee, 1.25% cash back on all purchases, and 3% cash back on foreign purchases. I’m drawn to Tangerine’s 2% cash back, but given that the 2% only applies to 2 categories, and all purchases receive only 0.5% cash back, I wonder if it’s better to just stick with Fido Mastercard for simplicity sake?

The GreedyRates Team says:

Hey Lucas,

Great question. In which cases are the Fido Mastercard—known for its great flat rate of 1.25% cash back on all purchases—better or worse than a card like the Tangerine Money-Back, which has a higher rate of cash back (2.00%) but in a limited number of purchase categories? This question can only be answered on a subjective, personal basis. It also requires a pretty thorough look into your finances, because you’ll need to know exactly how much you spend in categories like groceries or gas to make your determination.

Let’s say you spend $1,000 per month. Automatically we can say that you’ll get $12.50 in cash back if you’re putting it all on the Fido Mastercard. However, what if $750 of that $1,000 is spent on gas and groceries? If you use the Tangerine card exclusively, and chose gas and groceries as your two categories, then you’d have earned $16.25 ($15 from the gas and groceries, then $1.25 from the 0.5% you earned on the remaining $250). In this case it’s clear which card is best, but again, it’s circumstantial based on your spending habits.

What’s also worth considering is to have both cards, and to use the Fido card for every purchase that doesn’t fall into the two Tangerine categories that you’ve chosen. Let’s take a look at the example we used before, to see how it would turn out: 2.00% on that $750 you spent on gas and groceries collects $15, and then the $250 (at 1.75%) collects another $4.38, totalling $19.38 and becoming the best option. It’s also worth noting that the Tangerine card was limited in this example to just two 2.00% categories, when it’s really (and easily) possible to get three categories, just by linking your card with the neat Tangerine Savings Account. Let us know what you’re thinking.

GreedyRates

Alex says:

I have this card but I don’t know why one of my monthly payment doesn’t qualify for recurring for 2% and only 0.5%. I just don’t understand why even I called them and they explain in a way that I don’t really understand the reason.

The GreedyRates Team says:

Hey Alex,

We’re willing to bet that the issue lies in how Tangerine labels the specific billing transaction that you refer to. Credit cards can automatically know which transactions qualify for which rate of cash back or rewards because of what’s called the Merchant Category Code (MCC), which assigns the label to a transaction when you buy. Most recurring bills are labeled as such by the merchant but not all. Which of your monthly payments isn’t collecting the 2.00%? We often see card issuers pulling a fast one on cardholders by purposely mislabeling those purchases made at merchants which are most frequently visited, in an effort to stem the amount of cash back flowing outward from their coffers. This may not be the case here, but it will help to know which transactions you’re having issues with. Thanks!

GreedyRates

Lance Griffin says:

Just got the card….activated it and then tried to make a substantial purchase for renovations,declined twice. Should mention that it was activated then two small purchases to make sure the card worked. I do not recommend this card, I tried to contact them and got no response? I will cancel this card in the near future as it is a pos.

The GreedyRates Team says:

Hey Lance!

The two small purchases for confirmation is a smart thing to do, and we commend you for wanting to be sure that the card worked. However, this purchase pattern might have alerted the bank and created a false positive type situation. Here’s why we think so: When a credit card number or identity is stolen, the perpetrators usually make one or two small purchases to do the exact same thing you did—ensuring that the card they stole works. Afterwards, they either sell the card or use it to make a big purchase, then ditch it and leave you holding the mess.

It might not make sense and it might not be what really happened, but this is a pretty likely scenario (especially if your larger purchases were significant enough). Some banks have policies that treat large purchases in circumstances like these as “deny first, ask questions later” because identity theft has gotten so bad. You might just be a bystander caught in the crossfire. Either way, call into customer service and they’ll get to the bottom of the problem promptly.

GreedyRates Staff

Rudy says:

What about those food court stalls at Yorkdale mall?

The GreedyRates Team says:

Hi Rudy,

We appreciate you coming to GreedyRates and inquiring about where you can use the Tangerine Money Back Credit Card. As far as the specific food court stalls in Toronto’s Yorkdale Mall, we assume the real question behind your comment is whether the card will earn cash back at its accelerated rate. This really depends on which merchant code these stalls, or kiosks, carry. Stores like Jamba Juice and other food service places will likely have the designation of fast food or convenience store, rather than grocery or supermarket (yes – all of these are separate codes). If it serves food or drinks exclusively, then there’s a chance it may fall under the category ‘Restaurants’ for the Tangerine Money Back card, but we’re not sure.

The best way to find out is to ask the manager at the kiosk or even call their corporate offices. You’ll inquire about the specific Mastercard merchant code that their store has in your specific location, and if they don’t know then Mastercard itself might. Either way, the easiest way is just to go there and buy something, then check your statement. If you’re wondering about this because you haven’t yet applied for the card, then you’ll need to do it the long way by finding the merchant code and checking it against Tangerine’s own definitions.

GreedyRates

andy lee says:

Bullshit card refuse to entertain recurring bill payment setup as a 2% cash rebate. Has to wait more than half hr to get service. Can’t even close my account unless I made full payment. Never have such bad experience in my life

The GreedyRates Team says:

Hi Andy,

Thanks for your comment. We always appreciate some healthy criticism of the cards we’ve determined to be Canada’s best, otherwise it’s just us talking into the wind! In your case, it sounds like Tangerine didn’t see your specific recurring bill as eligible for 2.00% cash back under the Recurring Bills cash back category. It’s unfortunate that it took a while to get customer service on the line, so next time you call you should make sure of two things:

One, try to call on off hours if possible. Calling later at night or earlier in the morning could mean a 2-3-minute wait and not 30. Two, if you want to cancel your account, like any other credit card you’ll need to make the full payment of your outstanding balance. That’s it—super easy! We stand ready to give you a different card recommendation if you need, but more specifically one that is compatible with your specific bills. In fact, before you apply for your next card, it would be smart to call the bank or issuer to determine if your recurring bill will be eligible.

Thanks again,
GreedyRates

DVR says:

In which category tobbacco product do they consider? Grocery or they don’t cover it?

GreedyRates says:

Hi DVR, thanks for the interesting questions. After substantial research into the issue, we’re still not sure which category tobacco products like cigarettes fall under, if at all. These kinds of products are always questionable when it comes to cash back eligibility, so it’s smart to get a concrete answer before you apply. Call Tangerine (or get in touch via email or in person) and ask your question. Their representatives are quite friendly and can help you immediately. Thanks!

GreedyRates Staff

Sara Finnegan says:

Depends on where you get it. I got cigs from Superstore, and from a gas station, and it fell under my chosen categories of grocery and gas/fuel, respectively.

The GreedyRates Team says:

Hi Sara!

Nice comment! We’re often harping this point to cardholders who will send us a full list of their most visited stores and ask us to recommend them cards that offer the most value in cash back or rewards at the stores listed. It’s pretty hard to do so because, as you’ve noticed, some issuers classify merchants into different purchase categories than others. It’s often a matter of due diligence to discover which of your local stores earn the most when using your new credit card. In your case you discovered that cigarettes from the gas station earn cash back at the “gas station” purchase category even though they aren’t gas. Finding loopholes like this is a big part of getting the most from any card, so it’s good to hear from readers who have put in the work!

GreedyRates

Bob says:

The Tangerine Mastercard category system has big flaws. They relied on the merchant to code what category they are in. Example: I made purchases at Home Depot and Rona stores and got 2% back because Home Improvement is one of my 3 categories. I have made purchases at other local home improvement stores, one that has been in business for a lot longer than the other 2 above. Because the merchant did not categorize his business with Mastercard under Home Improvement, I did not get 2% back, only .5%. There are many merchants that fall in the Other category that could be in the ones I chose, but not with the Mastercard system. I asked them for a list and they told me there wasn’t any. A list must exist if they can code our statements. From now on I will be choosing one of my other credit cards for anything other than the 3 categories. The problem is, I have to use the Tangerine Mastercard at least once until I see my statement and know what category they have put it under. Then make my own mental list.
Also they recently reduced their Other category from 1% to .5%. All my other credit cards give me at least 1%.

Uday Singh says:

TTC is actually covered in 2% Tangerine cash back category :
Public Transportation and Parking: merchants classified as “Automobile Parking Lots and Garages, Public Transportation (including Buses, Trains, Ferries), Taxis, Road Tolls” (MCC 7523, 4111, 7524, 4121, 4784).
I read somewhere in an online XLS that TTC was not covered. I want to refute that here. I have this card. Go transit and TTC both are covered & do qualify for 2% cash back. So does highway 407 toll charge!
Plain walmart, dollarama, Sears do not qualify for 2% category.
But Walmart SUPERCENTER does qualify for 2% cashback under GROCERY category.
Canadian Tire, Home Depot qualify for 2% cashback under HOME IMPROVEMENT category.

Bob says:

Uday Singh – you are incorrect in your 2nd to last line. I just checked my statements and Walmart rewards were credited to me under Groceries and I had purchases at 3 different locations in Winnipeg. I am not sure if I bought groceries there or not but that is how Tangerine categories work. I could buy a coffee maker at a Walmart Supercenter and get 2% back but if I purchased it at Best Buy I get only .5%.
I have now made my own list per my comment above.

Alex says:

Walmart Supercenters – Grocery
Normal Walmarts – not.

It is that simple.

Alex says:

“Walmart rewards were credited to me under Groceries” – yes, that is literally what he said.

“But Walmart SUPERCENTER does qualify for 2% cashback under GROCERY category.”

Just to reiterate, yes, Walmart Supercenters are coded under Grocery. It makes no difference what you buy there.

Nikolai Grigoriev says:

This is funny. Just received that Tangerine Mastercard. Along with the old conditions, there was a notice about the changes on Apr 29th. I regret about activating the card before reading that notice. Will be canceling Tangerine Mastercard.

GreedyRates says:

Hi Nikolai,

Before you cancel the card, consider that the 2% in 2-3 merchant categories of your choice is STILL the best cashback value you’ll get for a no annual fee credit card. Combine the Tangerine card with the Rogers MasterCard where you get 1.75% cashback on all other spend, and 4% cashback on foreign transactions and you’re golden! Or combine it with the Amex card that gives you 1.25% cash back on all spend.

Hope that helps,

GreedyRates Staff

Mark Docken says:

No need to cancel a credit card! Just throw your netflix or some other minimal payment on it that you can easily set and forget to pay every month. It can only benefit your credit rating by increasing your credit utilization ratio, and giving you better payment history. I order a new no-fee credit card every few months or so just for this purpose. A better credit rating may not sound like a huge deal to some but if you’re looking at renewing your mortgage one day, a better credit rating could get you a few points better on your interest rate. And on a loan in the hundreds of thousands over years that translates to HUGE savings.

Just my two cents 🙂

Steve says:

Looks like the 1% cash back is dropping to 0.5% at the nd of April 2017. Card is not so attractive any more.

Rob says:

I agree Steve. Unfortunately, i can’t find another credit card offering what Tangerine was offering. If anyone finds a winner, let the rest of us know.

Yuri says:

Going to switch to National Bank ECHO MC. 1% across the board plus 1.5% on gas, groceries and online purchases. That’s not as good as Tangerine used to be, but close enough for me. It’s my secondary card for Costco specifically, so effectively I’m only losing 0.5% on gas.

Alex M says:

Online purchases are not specifically mentioned as a “category” on Tangerine website. Which means it falls into 0.5% cashback – any big bank will give you that much. With the same 2.5% FX fee. You don’t buy groceries or gas online. My conclusion: nice card for local (homeland) shopping. Not for much else.

Yuri says:

They are also upping the foreign transaction fee to 2.5%. I only got this card a month ago specifically for the 1% cash back. Now looking gonna have to look for a new Mastercard card again. Need something to use at Costco, and I don’t like the CaptialOne one.

lm willia says:

There is only 2% for two categories, according to the Tangerine site.

GreedyRates says:

Hi Im,

You get three 2% categories if you deposit your cashback into a Tangerine Savings account, which is free!

GreedyRates Staff

DVR says:

Tangerine saving account is free completely? or fee after a year?

GreedyRates says:

Hi DVR! Thanks for your comment. The Tangerine Savings account is one of the best ways to passively save money, because of their great automatic contribution utility. One can set up contributions from their Tangerine Cash Back Mastercard to earn a third purchase category where they’ll get 2.00% cash back. The part you’re asking about is whether or not it costs money to get this deal. One of the account’s key features is that it doesn’t impose fees, service charges, or minimums, so it’s essentially free. They’ll also let you choose how much you want to contribute, and when, allowing you to avail of the third cash back category even if you’re only saving a little bit. There’s even a special offer that boosts the interest you’ll earn from 1.10% to 2.50% for 6 months. Many underestimate the Tangerine card’s robust cash back benefits, but don’t let yourself make the same mistake. Enjoy!

GreedyRates Staff

Gerry says:

I was in contact via email with Tangerine back in May/2016 asking about the Pre-Authorized Payments capability and at the time they said “Tangerine only offers the option to auto-pay your Credit Card from your Tangerine Accounts currently.” I was pretty excited to read on your blog that they enabled payment from another bank, so I called them and they reiterated they only support payment from their own Tangerine accounts. The woman that I spoke with had to ask someone else, so I’m cautious about the accuracy of her information. Can someone confirm that auto pay is available via another bank such as TD, BMO, RBC, etc.?

GreedyRates says:

Hi Gerry,

You can pay your Tangerine credit card bill online from any Canadian bank, by selecting Tangerine as a payee in online bill payments. However, unfortunately you are correct, Tangerine doesn’t accept pre-authorized automatic bill pay.

GreedyRates Staff

Sanj says:

This is the sole reason I stopped using tangering credit card.

Its a pain to keep track of it. I hope they would allow PAP from different banks

Carmen says:

What category will i have to set to have costco qualify for the 2% cashback?

I dont see a category for wholesale.

GreedyRates says:

Hi Carmen,

Unfortunately, there is no 2% category for wholesale / Costco. That said, you will receive 1% cashback for all purchases at Costco with the Tangerine MasterCard.

GreedyRates Staff

Jean-Luc LeBlanc says:

This is because Costco wants their customers to earn cash back on their credit card rather than another company’s, so they class their merchant category as “wholesale”, which isn’t one of the 2% back categories.

Fausto says:

When an entertainment venue is not being recognized in the Entertainment category, but it obviously should, who is responsible to make the adjustment? Tangerine or MasterCard? The Entertainment center in question is Splitsville Entertainment Inc – Woodbridge, formerly Woodbridge Bowl.

GreedyRates says:

Hi Fausto,

Ultimately Tangerine relies on merchant SIC codes to determine if a transaction qualifies for a particular merchant category, such as entertainment. The merchant SIC code is reported by MasterCard to Tangerine. However, the merchant itself self-report its category (within reason). For example, a merchant that has a restaurant, bar and bowling alley may report as a restaurant. We would recommend having the initial conversation with Tangerine to determine your options.

Hope that helps,

Greedyrates Staff

Ron says:

The 4% expiry date is listed as June 27, 2016, but it is still listed on their website.

Any idea what is the “new” expiry date of this offer?

GreedyRates says:

Hi Ron,

We removed the reference. Tangerine has removed an expiry date as well, so for now it’s an “always on” promotion. Of course they can choose to end it at any time.

GreedyRates Staff

Sue says:

Where can I find the list of merchant names for each category (gas, grocery, etc.) on the Tangerine Cash Back Credit Card?

GreedyRates says:

Hi Sue,

Unfortunately Tangerine doesn’t provide a list of merchant names per se. They do provide a list of merchant SIC codes that qualify as follows:

Drug Stores: merchants classified as “Drug Stores/Pharmacies” (MCC 5912);
Eating Places: merchants classified as “Eating Places, Restaurants, Bars, Lounges, Discos, Nightclub Taverns and Fast Food Restaurants” (MCC 5812 – 5814);
Entertainment: merchants classified as “Sports Venues, Theatres, Amusement Parks, Carnivals, Circus, Tourist Attractions and Exhibits, Movie Theatres, Zoos, Bands, Orchestras, Aquariums” (MCC 7941, 7922, 7996, 7991, 7929, 7998, 7832, 7829);
Furniture: merchants classified as “Home Furnishing Stores, Furniture Reupholstery” (MCC 5712, 5719, 7641);
Gas: merchants classified as “Service Stations” (MCC 5541/5542);
Grocery: merchants classified as “Grocery Stores and Supermarkets” (MCC 5411, 5422, 5462);
Home Improvements: merchants classified as “Hardware Stores, Home Supply Warehouse Stores, Lawn and Garden Supply Stores, Glass/Paint/Wallpaper Stores, Florist supplies nursery stock & flowers, Floor Coverings, Drapery and Window Coverings” (MCC 5251, 5200, 5261, 5231, 5718, 5713, 5714);
Hotels-Motels: merchants classified as “Lodging, Hotels, Motels, Resorts or by Property name” (i.e. Fairmont, Marriott, Holiday Inn, etc.) (MCC 7011, 3500-3828);
Public Transportation and Parking: merchants classified as “Automobile Parking Lots and Garages, Public Transportation (including Buses, Trains, Ferries), Taxis, Road Tolls” (MCC 7523, 4111, 7524, 4121, 4784);
Recurring Bill Payment: Recurring bill payments are defined as payments made on a monthly or other regular basis, and which are automatically billed by the merchant to your Tangerine Money-Back Credit Card, such as your monthly phone bill. Not all merchants offer recurring payments, and not all ongoing payments will be considered “recurring payments” for purposes of this category. Please check with your merchant to see if your recurring payment qualifies.

Hope that helps,

GreedyRates Staff

Stef says:

I don’t mean to boast, but the credit cards I use are the Tangerine MasterCard and the Amazon visa. Good combination since the reward is pretty good and also low to no foreign transaction fees. Good pair

GreedyRates says:

Hi Stef,

That is a nice pair. We’d also recommend people take a look at the Rogers MasterCard if you’re looking to get the upper hand on foreign transaction fees. It offers 4% cash back on all purchases in a foreign currency. You get charged the 2.5% fx fee, but you net 1.5% cash back. With the Amazon card, you only net 1% cash back on foreign purchases.

There’s no fee on the Rogers card in the 1st year, and if your a Rogers customer, you can put your bill on the card and never pay any annual fee after the first year.

Hope that helps,

GreedyRates Staff

Stef says:

Costco in the states currently only takes visa and with the rogers MasterCard you get charged 2.5 if you make a refund

GreedyRates says:

Hi Stef,

We’re not clear on exactly what type of refund is being referred to. While there is a 2.5% foreign transaction fee, it is offset by the 4% cashback rate on foreign purchases, bringing the net benefit to 1.5% – which beats out Amazon by .5%. Then again, if you’re using it in stores that only accept Visa, then obviously it’s not optimal for you.

GreedyRates Staff

Kim says:

I have a TD Visa card and I want to stop having that card and have a Tangerine credit card instead. How go I change cards? How do I transfer the balance owed on my TD card to Tangerine? Will I still have the same credit limit I have at TD if I transfer to Tangerine?

GreedyRates says:

Hi Kim,

Simply apply for the Tangerine MasterCard. Unfortunately, you won’t know what credit limit you will have available until you get approved for the card. At that point, you will have 30 days to do a balance transfer, which comes in at a rate of 1.9% for the first 60 months, along with a 1% balance transfer fee (which is pretty good).

That said, we always recommend you keep your balance transfer card and your credit card for new purchases separate. The reason for this is because, if you keep your balance transfer and new purchases on the same card, when you make a payment, it will get divided equally between your high interest rate on your new purchases, and your low interest rate on your transferred balance. That means, you won’t be able to get rid of your high interest balance until your low interest balance transfer is paid off in full.

Hope that helps,

GreedyRates Staff

Matt says:

Can anyone please comment on what kind of credit limits are possible with tangerines MC?
Thanks

GreedyRates says:

Hi Matt,

The minimum credit limit assigned by Tangerine is $500 and the maximum is $25,000. Obviously many factors such as your income, debt to income ratio, credit score and current outstanding lines of credit will determine what limit you will be assigned.

Hope that helps,

GreedyRates Staff

Matt says:

Thank you. Too bad tangerines service line couldn’t give me that info. Much appreciated

Manuel Christou says:

Hi Geoff, based on your recommendation I applied for the Tangerine MC since I have been an ING customer for 17 years. I was approved quicky. I liked everything I read about it until I saw my Cashback awards from Costco counted at 1%! Apparently Costco is not classified as a Grocery merchant but a wholesaler as I was told by Tangerine customer service people when I phoned to complain. Since the majority of my grocery spending of $200-300 per month is at Costco, I thought it was a no brainer to pick the categories of grocery and gas to take advantage of the Tangerine card. To my surprise Costco does not fall under the grocery category but under “everything else ” paying only 1%. I find this very misleading and dishonest and I told them as much. Walmart falls under the grocery category! So I could be buying whatever at Walmart except groceries and I would qualify under the grocery category. How would a person who buys their groceries at Costco know Not to apply for a Tangerine MC because they are aware that Costco is a wholesaler and does not qualify under the grocery category?! I find this very dishonest and I’m considering of cancelling the card and closing all my accounts and RSPs I have with Tangerine. It sounds good on paper but it fails the reality test. I certainly do not recommend this card on principle. This is not an honest way to entice new clients. The average person would no clue as to what their options are until the results start coming in. Tangerine needs to be upfront. Groceries are groceries and gas is gas. Sorry for the rant I hope this is helpful for you too as you promoted this as the best card on the market.

GreedyRates says:

Hi Manuel,

Unfortunately, the only way Tangerine can identify whether a transaction is a grocery store, is through the Merchant SIC code provided to it from MasterCard. As you mentioned, Costco is classified as a wholesale merchant. Only WalMart superstores are classified as grocery stores, because the merchant code provided by MasterCard defines it as such.

MasterCard itself uses merchant codes because it charges different interchange rates to different merchant SIC codes. For example, a wholesaler gets charged a lower interchange than a grocery store, and a grocery store gets charged a lower interchange than a general retailer.

It does make it a little confusing, but on the whole it works pretty well. In fact, Tangerine’s list of grocery store SIC codes it covers is no different, if not a little better, than every other card.

GreedyRates Staff

Marianna says:

I was in the same situation. Lots of groceries at Costco – no extra money back. 🙁

Sylvie says:

Are purchases made on Walmart.ca also included in the grocery category (as are purchases made at Walmart superstores)?

GreedyRates says:

Hi Sylvie,

Thanks for writing in! Our understanding is that Walmart.ca is not covered under the grocery category for the card.

GreedyRates Staff

Richard says:

Loving the Tangerine Credit Card, this is also a great article summing up all the benefits (including a couple I hadn’t thought about!) I’ve been recommending it to everyone I know, I used to use the RBC cash back card but Tangerine has better rates on the savings, better cash back %’s and more flexibility. Never been so happy with a bank before.

Catherine says:

How do the “benefits” of the Tangerine card compare to other cards i.e. price protection, rental car insurance, lost luggage protection, etc, etc??

GreedyRates says:

Hi Catherine,

The Tangerine card has similar benefits to other “no-fee” credit cards. It offers extended warranty and purchases assurance (protects against purchases that break, lost or stolen in the first 90 days). It also comes with one benefit not seen in most other cards, a reduced foreign transaction fees to 1.5%, from the usual 2.5%.

Rarely will you see lost luggage, travel medical, trip cancellation, or trip interruption insurance on a no fee card. The Tangerine card does not come with car rental insurance (most no fee cards don’t, but some do), however if you already have auto insurance, you might want to check your coverage their to see if you’re already taken care of through your policy.

Hope that helps,

GreedyRates Staff

Samer says:

I want to get 2% back on my amazon.ca purchases, however I am not sure what they are classified as (groceries, entertainment etc..). Does anyone know?

rony says:

not sure about it,but if you want best of it,get amazon reward visa. its 2% with it all amazon purchases and 1% elsewhere. it also has no foreigner trans. fees.

GreedyRates says:

Hi Rony,

If you shop a lot at Amazon.ca, the Amazon card would be a nice no fee card to complement the no fee Tangerine cash back card. By having both, you would get 2% at Amazon.ca (not Amazon.com), and you would get 2% in another 2-3 merchant categories of your choice from Tangerine (groceries, gas & restaurants). Either card would give you 1% everywhere else.

GreedyRates Staff

Sajjad says:

The Rogers card is perfect, as a frequent traveler a no foreign transaction card is essential, but rogers has a $29.99 fee if u don’t have a rogers product billed monthly; the leading competitor in the market has a 1.25% cashback no fee while rogers is 1.75% (no adv except for no foreign transaction fees and rogers is know to give low credit limits). so to offset the difference u need to spend about $7000 year or more to break even.

The Tangerine Card is wonderful especially for those who don’t need a no foreign transaction fee card and because its a no annual fee credit card its worth while having it in your wallet.

GreedyRates says:

Hi Sajjad,

Good observation. We’d like to add to your idea of having both cards. If you’re a Rogers customer, it’s optimal to get both cards, since there’s no annual fee. Use the Tangerine card in your selected 2-3 bonus categories to get your 2% and then your Rogers card everywhere else to get 1.75% cashback instead of the 1% everywhere on the Tangerine card.

Of course the Rogers card does not come with an annual fee in the first year, and the welcome bonus of $35 covers the annual fee of $29 in the second year (if you’re not a Rogers customer), so even if you’re not a Rogers customer, you’ll have it virtually free for 2 years.

GreedyRates Staff

Richard says:

This is a good credit card but Beware. Any refunded amounts will debit your cash rewards by the rate in effect at the time of the refund. I just lost $24 from my cash rewards. I received $8 on an $800 purchase but lost $32 from my cash rewards on the return due to a category change and bonus in effect. Customer service read the agreement to me and refused to refund the difference!

Bruce says:

How about buying money from the Canadian Mint? No tax, free shipping = 4% cash back then use the money to pay off the card balance & keep the 4% cash back

GreedyRates says:

Hi Bruce,

The only problem is which category would it fall into to get the 4% as opposed to 1%?

The other issue with the mint, is that you have to feel comfortable that you will be able to sell the coin for face value. Not all banks are required to accept them, so keep that in mind. We’d suggest you ask your bank, or any other bank branch for that matter, if they’re willing to pay you the face value of the coins you buy at the mint, and under what conditions. If they say yes, then it’s a GREAT idea!

Best,

GreedyRates Staff

Isaac says:

Did this work for you Bruce? under which category is the mint?

Geoff says:

Assuming you can retain the Rogers card with no fees, you could also combine both of these cards. With these possible combos, you would have to wonder why you would pay for any 2% reward card. Then you would only pay for a card that provided good insurance coverage.

GreedyRates says:

Hi Geoff,

We’d have to agree. The only other advantage of a 2% card, like MBNA’s World Elite MasterCard, is the 1 year annual fee waiver and $100 welcome bonus. Long term though, you’re spot on.

Another option is combining some of the 4% category cash back cards with the Tangerine and Rogers card. For example, get the Scotia Momentum Infinite card with 4% on gas & groceries, 2% on pharmacy and recurring spend. Then use Tangerine for 2% on restaurants, transportation & home improvement. Use the Rogers MasterCard for all foreign transaction and all other spend. Nice package. Of course, that assumes you spend enough to justify the Scotia Momentum annual fee of $99.

GreedyRates Staff