Tangerine Money-Back Credit Card Review: Is It Worth It?
The Tangerine Money-Back Credit Card earns cash back on each eligible dollar spent with accelerated rates in up to three spending categories — and has no annual fee.
Rewards breakdown
Rewards breakdownCash back on up to three categories.
Cash back on everything else.
NerdWallet's take
NerdWallet's takeTangerine lets you pick up to three categories from a pool of 10 that you’ll earn 2% back on, making it one of the more flexible cash-back programs on the market. Other cash-back cards offer higher earn rates on similar categories, but the Tangerine Money-Back card doesn’t have caps — so, you could earn unlimited 2% back on furniture, for example, throughout the year. Best for: People who spend big in unusual categories and want a simple cash-back card.
Pros
- No annual fee.
- Choose the 2% cash-back categories based on your spending.
- 15% off H&R Block.
Cons
- Other cards offer higher rates on similar categories.
- Must have a Tangerine savings account to unlock 3rd cash-back category.
Card details
Card details- Earn 10% cash back¹⁰ for 2 months (Up to $100) – That’s on top of regular cash back. Plus, get a promo rate on balances you transfer for a limited time. Offer Expires April 30, 2026.
- Two Categories – 2% Money-Back Rewards on purchases in two categories of your choice. OR Three categories Deposit your Rewards into a Tangerine Savings Account and get a third 2% Money-Back category. 13 Categories to explore – Groceries, gas, and beyond, choose from 13 categories to suit your spending. And change them up every 90 days to match your purchases.◊
- 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 (22.95% 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® Money-Back 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: 20.95% for purchases, 22.95% for cash advances (including balance transfers).
- 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.
- *See Card Provider's website and Card Application for complete card details, terms and current offers. Reasonable efforts are made to maintain accuracy of information.
A good fit if you’re looking for a no-fee, no-frills way to earn cash back rewards.
Not a good fit if you want a card with lux perks or comprehensive insurance.
What our Nerds think
"This card stands out for its flexibility. Cardholders choose their own 2x-earn categories, making it easy to align rewards with spending habits. It's not the flashiest card on the market, but as far as no-fee cards are concerned, the option to customize your earn categories is a rare perk."
- Shannon Terrell, Lead Writer & Spokesperson
Note: This card is scored as a Cash Back card, which means 60% of the star rating is based on the card's cash-back value, 28% on fees and interest rates and 12% on perks. You can read more about how we evaluate Cash Back credit cards on our methodology page.
Fees and rates
"EXCELLENT"
This card’s lack of an annual fee and rock-bottom rates on balance transfers make it a cost-effective option.
Annual fee:
$0
Purchase APR:
20.95%
Foreign transaction fee:
2.5%
🤓 Get nerdy: Read more about fees and rates
Annual fee: $0
The average annual fee for a cash back card in Canada: $33*
Purchase interest rate: 20.95%
The average purchase interest rate for a cash back card in Canada: 21.9%*
Cash advance interest rate: 22.95%
Cash advances apply to cash-like transactions, such as ATM withdrawals, and start accruing interest immediately.
Balance transfer interest rate: 22.95%
Balance transfers are charged 1.95% in the first six months, at which point the rate increases to 22.95%.
Penalty APR: 25.95%
If you fail to pay at least the minimum amount due for two billing cycles, the rate increases to 25.95% on purchases and 27.95% on cash advances and balance transfers.
Foreign transaction fee: 2.5%
When the converted transaction amount gets posted to your account, Tangerine adds a foreign currency conversion fee to the converted transaction amount. The average foreign transaction fee for a cash back card in Canada: 2.43%*
Additional card fee: $0
You can get five additional cards for $0 each, per year.
*according to NerdWallet’s analysis of over 200 credit cards, as of this writing.
Perks
"POOR"
Once you get past the card’s cash back rewards, you'll be hard-pressed to find many additional benefits.
Insurance coverage:
Limited
Rental discounts:
None
Exclusive dining or retail offers:
None
🤓 Get nerdy: Read more about perks
The Tangerine Money-Back Credit Card offers modest insurance coverage, including:
Purchase assurance and extended warranty protection for eligible purchases up to a lifetime limit of $60,000.
Mobile device protection for new devices worth up to $1,000 that are charged in full to your card or purchased through a plan which is paid for by your card.
Card users can also access Tangerine’s Left To Spend budgeting tool.
Cash back value
"GOOD"
Cardholders can choose up to three accelerated cash-back categories, while all other eligible dollars spent earn a flat 0.5%.
Reward earn rate:
2% on select purchase categories, 0.5% on all other purchases
Reward value:
$0.01
Reward program:
Cash back
🤓 Get nerdy: Read more about rewards
Earning rewards
The Tangerine Money-Back Credit Card allows you to earn 2% cash back in two categories of your choosing. The categories can be changed after 90 days and include:
Groceries
Restaurants
Gas
Entertainment
Furniture
Hotel and/or motel
Drug store
Recurring bill payments
Home improvement
Public transportation and parking
E-Games
Fitness and sports clubs
Foreign currency spend
All other purchases earn 0.5% cash back, but if you deposit your cash-back rewards into a Tangerine Savings Account, you can earn 2% cash back on a third category of your choice.
Redeeming rewards
Your Money-Back Rewards are redeemed each month automatically, either to your Tangerine savings account or your credit card account.
Welcome offer
Earn up to $100 by posting $1,000 in total net purchases in the first 60 days of card use.
Promotional earn rate:
10%
Spend requirement:
$1,000 within first two months
Estimated value of offer:
$100
🤓 Get nerdy: Read more about the welcome offer
If you’re approved for the Tangerine Money-Back Credit Card, you can earn an extra 10% cash back on up to $1,000 in purchases made within the first two months of card membership. This offer is valid until April 30, 2026.
The Tangerine Money-Back Credit Card also offers a low 1.95% interest rate on balance transfers for the first six months. To take advantage of the promotional rate, a balance transfer must be completed within the first 30 days of card membership. Balance transfers are also subject to a 1% balance transfer fee (waived for Quebec residents).
Eligibility
To be eligible for the Tangerine Money-Back Credit Card you must:
✓ Be a Canadian resident
✓ Be at least the age of majority in your province or territory
✓ Have no history of bankruptcy in the past seven years
✓ Earn a minimum annual personal income of $12,000
🤓 Get nerdy: Read more about how to apply
How to apply for the Tangerine Money-Back Credit Card
You can apply for the Tangerine Money-Back Credit Card either through the Tangerine website or through the Tangerine app. Applying should only take a few minutes, but if you’re not a Tangerine client, you’ll have to sign up for an account.
Approximate credit score needed for approval
Canadian credit card issuers rarely disclose required credit scores, which makes it hard to know your chances of approval when comparing credit cards. What we do know is that higher scores have better chances of approval — that’s true no matter what type of credit you’re applying for.
Want to learn more? Visit our “What Credit Score is Needed for a Credit Card?” page. » MORE: How to Check Your Credit Score
Customer ratings and Reddit chatter
Above average in customer satisfaction: Tangerine ranks 2nd out of 14 issuers in J.D. Power’s 2025 Canada Credit Card Satisfaction Study
Low Trustpilot rating: Tangerine scored 1.3 out of 5 possible stars based on over 1,800 customer reviews, as of this writing.
Low Better Business Bureau rating: 1.02 out of 5 possible stars based on over 40 customer reviews, as of this writing.
What Reddit has to say
We know expert recommendations matter — but so do real-life experiences. On Reddit, Canadian users talk about the Tangerine Money-Back Credit Card’s earn rate and device protection plan.
A common thread among Redditors is that 2% cash back is a decent earn rate, especially if it’s applied to common purchases like groceries or gas. Card users who pay their phone bills with the Tangerine Money-Back Credit Card posted about Tangerine picking up the tab for phone repairs through the card’s device protection insurance.
Tangerine Money-Back Credit Card vs BMO CashBack Mastercard
If you’re in need of a no-fee cash back card but are looking for a better earn rate or more luxurious perks, you might want to consider the BMO CashBack Mastercard instead.
Rewards breakdown
Rewards breakdownCash back on up to three categories.
Cash back on everything else.
NerdWallet's take
NerdWallet's takeTangerine lets you pick up to three categories from a pool of 10 that you’ll earn 2% back on, making it one of the more flexible cash-back programs on the market. Other cash-back cards offer higher earn rates on similar categories, but the Tangerine Money-Back card doesn’t have caps — so, you could earn unlimited 2% back on furniture, for example, throughout the year. Best for: People who spend big in unusual categories and want a simple cash-back card.
Pros
- No annual fee.
- Choose the 2% cash-back categories based on your spending.
- 15% off H&R Block.
Cons
- Other cards offer higher rates on similar categories.
- Must have a Tangerine savings account to unlock 3rd cash-back category.
Card details
Card details- Earn 10% cash back¹⁰ for 2 months (Up to $100) – That’s on top of regular cash back. Plus, get a promo rate on balances you transfer for a limited time. Offer Expires April 30, 2026.
- Two Categories – 2% Money-Back Rewards on purchases in two categories of your choice. OR Three categories Deposit your Rewards into a Tangerine Savings Account and get a third 2% Money-Back category. 13 Categories to explore – Groceries, gas, and beyond, choose from 13 categories to suit your spending. And change them up every 90 days to match your purchases.◊
- 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 (22.95% 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® Money-Back 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: 20.95% for purchases, 22.95% for cash advances (including balance transfers).
- 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.
- *See Card Provider's website and Card Application for complete card details, terms and current offers. Reasonable efforts are made to maintain accuracy of information.
Rewards breakdown
Rewards breakdownCash back on grocery purchases.
Cash back on recurring bill payments.
Cash back on all other purchases.
NerdWallet's take
NerdWallet's takeSnagging 3% cash back on groceries will help you rack up the rewards. That said, monthly spending caps on boosted earn rates could hamper your cash-back accumulation if you’re a bigger spender. Best for: Food shoppers who want easy access to their cash-back rewards.
Pros
- No annual fee.
- Redeem cash-back rewards of as little as $1 whenever you want.
Cons
- Highest cash back rate only applies to the first $500 spent per billing cycle.
- Low 0.5% baseline rate.
Card details
Card details- Welcome offer: Get 5% cash back in your first 3 months.*
- Then get 3% cash back on grocery purchases, 1% cash back on recurring bill payments and 0.5% unlimited cash back on all other purchases!*
- Now earn the highest cash back on groceries in Canada without paying an annual fee!†
- Get a 0.99% introductory interest rate on Balance Transfers for 9 months, 2% fee applies to balance amounts transferred.*
- No Annual fee.*
- Want to get your cash back ASAP? Now you can redeem your cash back anytime through direct deposit, as a credit on your statement or into your BMO InvestorLine account.*
- Extended Warranty.*
- Purchase Protection.*
- Receive a discount on car rentals.*
- Enjoy three months of Instacart+ and a $5 monthly Instacart credit when you enroll your eligible BMO Credit Card.*
- *Terms and conditions apply.
- BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information.
Methodology
BACK TO TOPFrequently asked questions
Does the Tangerine Money-Back Credit Card work in Costco?
Yes, you can use your Tangerine Money-Back Credit Card to make transactions at Costco and Costco.ca.
What are the Tangerine Money-Back Credit Card money-back categories?
Tangerine cash-back categories include groceries, furniture, restaurants, hotels and motels, gas, recurring bill payments, drug stores, home improvement, entertainment, and public transportation and parking.
DIVE EVEN DEEPER
Shannon Terrell
