Tangerine
Enjoy no annual fee, up to 2% cash back in categories you can choose and change, and receive a $120 bonus when you spend $1,500 in 3 months.
Introducing the Tangerine Money-Back World Mastercard
The Tangerine Money-Back World Mastercard is a standout option in Canada for anyone seeking flexible cash back rewards. With no annual fee, this card offers 2% cash back in up to three customizable categories, and 0.5% on all other purchases. Cardholders can earn a $120 welcome bonus by spending $1,500 within the first three months. The purchase interest rate is 20.95%, and a solid minimum credit limit applies, subject to approval and personal credit evaluation.
Its unique earn model allows you to change your reward categories every 90 days, perfectly aligning with shifts in your spending patterns. Additionally, supplementary cards are available at no extra charge.
Beyond generous cash back, the card includes mobile device insurance, car rental insurance, purchase assurance, and extended warranty. It combines practicality and strong value for day-to-day spending.
The $120 bonus is credited after meeting the spend requirement, with clear and easy-to-understand conditions. No annual fee means more value in your pocket annually.
Note that a good to excellent credit score and a minimum annual income of $50,000 are typically required for approval.
How to Apply: Step-by-Step Guide
Applying for the Tangerine Money-Back World Mastercard is quick and straightforward.
First, ensure you meet the eligibility criteria, such as the minimum annual income and credit score requirements.
Next, complete the online application form with accurate personal and financial details.
Submit your application and wait for the decision, which is usually provided within minutes. If approved, the physical card will be mailed to your address.
Activate your card, start spending, and remember to meet the $1,500 spend requirement within the first three months to qualify for the $120 cash bonus.
Key Pros of the Tangerine Money-Back World Mastercard
The primary appeal of the Tangerine Money-Back World Mastercard is its flexibility. Cardholders can select and switch up to three bonus categories, maximizing rewards for their unique lifestyle.
No annual fee sets this card apart—get quality perks and cash back without ongoing costs. Monthly rewards payout ensures regular benefit realization.
Mobile device insurance, purchase assurance, and extended warranty add valuable peace of mind for purchases and electronics.
Travel perk seekers will appreciate included car rental insurance and Mastercard World benefits. This ensures real value even for occasional travellers.
The balance transfer offer of 1.95% for the first six months provides cost-saving opportunities for consolidating debt efficiently.
Considerations: Main Cons to Know
The higher income threshold can be a barrier for some applicants, especially young professionals or students seeking a premium card with no annual fee.
Cash back on non-bonus categories is limited to 0.5%, which is average and may not satisfy heavy spenders outside typical bonus categories.
While the insurance package is robust for a no-fee card, it lacks more comprehensive travel coverage like some higher-tier products.
Airport lounge access is available, but each visit incurs a fee, making it less competitive for frequent travelers.
Finally, introductory promotional rates revert to standard interest rates after six months, so it’s important to pay down transferred balances promptly.
Verdict: Is the Tangerine Money-Back World Mastercard Worth It?
The Tangerine Money-Back World Mastercard presents a well-rounded offer for Canadians wanting flexibility and value without annual fees. The ability to choose and adjust three 2% cash back categories is unique and lucrative.
The $120 welcome bonus represents a tangible advantage, particularly with modest spending requirements. Monthly payouts keep rewards accessible year-round.
Provided you meet the income and credit history criteria, this card is an excellent choice for regular earners looking for low-cost rewards, everyday insurance protection, and flexibility.
Those focused on travel insurance or premium perks may look at more premium cards, but overall, the Tangerine Money-Back World Mastercard is hard to beat for practical value and everyday earning potential.