April 15, 2024
Tangerine Money-Back Credit Card vs. World Mastercard





Tangerine Money-Back Credit Card vs. World Mastercard – NerdWallet Canada






























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  3. Tangerine Money-Back Credit Card vs. Tangerine World Mastercard: How to Choose

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Deciding between the Tangerine Money-Back Credit Card and the Tangerine World Mastercard doesn’t have to be hard.

  • Both are rewards credit cards that earn cash back.
  • Neither Tangerine credit card charges an annual fee.
  • The cards have different income requirements: $12,000 per year for the Money-Back Card versus $60,000 per year for the World Mastercard
  • The Tangerine World Mastercard has perks and benefits that aren’t offered by the Money-Back Card.

Here’s a side-by-side look at the details that matter most, so you can make a decision quickly and confidently.

Tangerine Money-Back Credit Card vs. Tangerine World Mastercard

Tangerine Money-Back Credit Card

  • Annual Fee

  • Interest Rates

  • Rewards Rate

  • Intro Offer

Why we like it

You can earn unlimited cash back at a 2% rate in up to three categories of your choice — all while earning 0.50% back on everything else.

Pros

  • You can tailor the 2% rewards to your spending by choosing up to three categories from Tangerine’s list of 10, which includes basics like gas and groceries as well as unusual picks like furniture and home improvement.
  • Transfer balances within your first 30 days and pay only 1.95% interest on the transferred balance for the first six months (19.95% after that).

Cons

  • 2% cash back is a competitive rate, but many cards offer double the rewards on specific categories.
  • Tangerine is a virtual bank with no physical bank branches.
  • 2% on two categories of your choice: grocery, furniture, restaurants, hotel-motel, gas, recurring bill payments, drug store, home improvement, entertainment, or public transportation and parking.
  • Get a third cash-back category by choosing to have your rewards deposited into a Tangerine Savings Account.
  • 0.50% on everything else.
  • Redeem cash back monthly as a statement credit or deposited into a Tangerine Savings Account.
  • No annual fee.
  • Transfer balances within your first 30 days and pay only 1.95% interest on the transferred balance for the first six months (19.95% after that). 1% balance transfer fee applies to the amount transferred.
  • Get free cards for any authorized users on your account.
  • It only includes purchase assurance and extended protection insurance. For more insurance, consider the Tangerine World Mastercard which requires a minimum personal income of $60,000. If you meet this requirement, you will automatically be considered for the World card if you apply for the Money-Back card.
  • Preferred rates: 19.95% for purchases and cash advances.
  • To be eligible, a $12,000 (individual) annual income is required. Also, you must have a Canadian credit file and be a Canadian resident of the age of majority in the province or territory where you live.

Tangerine World Mastercard®

Tangerine World Mastercard®

  • Annual Fee

  • Interest Rates

  • Rewards Rate

  • Intro Offer

Why we like it

You can earn unlimited cash back at a 2% rate in up to three categories of your choice and 0.50% back on other everyday purchases while benefiting from exclusive Tangerine World Mastercard® perks and insurance cover.

Pros

  • Choose the best 2% rewards categories for you based on your spending.
  • A variety of additional perks like savings on subscription services, rental car collision/loss damage, mobile device insurance, and more.

Cons

  • Higher eligibility requirement for gross income.
  • Apply for a Tangerine World Mastercard® by April 30, 2024 and earn an extra 10% back* (up to $100) when you spend up to $1,000 in everyday purchases within your first 2 months.
  • Earn 2% Money-Back Rewards on purchases in two 2% Money-Back Categories of your choice, and 0.50% Money-Back Rewards on all other purchases.
  • Have your Money-Back Rewards deposited into a Tangerine Savings Account, and get a 3rd 2% Money-Back Category.
  • No limit on the amount of Money-Back Rewards you can earn.
  • Change your 2% Money-Back Categories to suit your spending.
  • With Mastercard Travel Rewards, you can unlock cashback offers and get a rebate applied directly to your statement, by using your Tangerine World Mastercard at select merchants that accept Mastercard while travelling outside of Canada.
  • Save on the things you love with your Tangerine World Mastercard. Enjoy special benefits and offers from a growing lineup of on-demand apps and subscription services made available to you as a Tangerine World Mastercard cardholder.
  • Make the most of your travel with Mastercard® Travel Pass Provided by DragonPass. Your complimentary membership gives you exclusive dining, retail and spa offers in over 650 airports worldwide, along with access to over 1,300 airport lounges at $32 USD per visit. Learn more at Mastercard® Travel Pass.
  • Rental Car Collision/Loss Damage Insurance**: Damage and theft protection for your car rental when you rent for up to 31 consecutive days and charge the full cost of your rental to your Card.
  • Mobile Device Insurance**: Protection on new cell phones, smartphones or tablets when you charge the full cost to your Card, or when you purchase it through a plan and charge all of your wireless bill payments to your Card. Covers up to $1,000 if your mobile device is lost, stolen, accidentally damaged or experiences mechanical failure.
  • Preferred rates: 19.95% for purchases and cash advances.
  • To be eligible, a $60,000 (individual) annual income is required. Also, you must have a Canadian credit file and be a Canadian resident of the age of majority in the province or territory where you live.

To be eligible for a Tangerine World Mastercard, a $60,000 (individual) annual income is required.

Tangerine doesn’t publicly disclose its minimum credit score requirements for the Money-Back Card.

Yes, when you apply for a credit card, Tangerine will perform a hard credit inquiry on your credit report. As with all hard credit inquiries, this could temporarily lower your credit score.

Yes, Costco Canada accepts all Mastercards. (It doesn’t accept Visa or American Express cards.)

Tangerine credit card holders can earn points on groceries, restaurants, gas, entertainment, furniture, hotels/motels, drug stores, recurring bill payments, home improvement, and public transportation and parking.

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