Menu Toggle
Search
  1. Home
  2. Credit Cards
  3. Tangerine Money-Back Credit Card vs. Tangerine World Mastercard: How to Choose
Published March 25, 2024
Reading Time
2 minutes

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

Both Tangerine credit cards earn cash back for no annual fee, but their perks, benefits and eligibility requirements differ.

Written By

Edited By

Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own.

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

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

Tangerine Money-Back Credit Card
  • Annual Fee
    $0
  • Interest Rates
    19.95%
  • Rewards Rate
    0.5%-10%
  • Intro Offer
    Up to $100
Our Take
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.
Card Details
  • 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
    $0
  • Interest Rates
    19.95%
  • Rewards Rate
    0.5%-10%
  • Intro Offer
    Up to $100
Our Take
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.
Card Details
  • 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.

Looking for a good credit card?

See NerdWallet’s picks for the best credit cards in Canada and start earning more rewards today.

Frequently asked questions about the Tangerine Money-Back Card vs. Tangerine World Mastercard

What’s the minimum income required for the Tangerine World Mastercard?

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

What credit score do you need for a Tangerine Money-Back Card?

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

Which bank owns Tangerine?

Tangerine Bank is owned by The Bank of Nova Scotia, or Scotiabank.

Does Tangerine do a hard credit check?

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.

Does Tangerine Mastercard work at Costco?

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

What are the Tangerine credit card spending categories?

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.

DIVE EVEN DEEPER

Best Tangerine Credit Cards

Best Tangerine Credit Cards

Tangerine’s Money-Back Credit Card and World Mastercard both offer solid cash-back rates across multiple money-back categories, plus premium perks.

21 Best Cash-Back Credit Cards in Canada for April 2024

21 Best Cash-Back Credit Cards in Canada for April 2024

NerdWallet’s picks for the best cash-back credit cards in Canada include top contenders across numerous categories. Choose the right one for your spending habits and financial goals.

EQ Bank vs. Tangerine: Features and Differences

EQ Bank vs. Tangerine: Features and Differences

One of the main differences between EQ Bank and Tangerine is how the two online banks handle fees for using ATMs.

15 Best No-Fee Credit Cards in Canada for April 2024

15 Best No-Fee Credit Cards in Canada for April 2024

The best no-fee credit cards in Canada offer impressive benefits without the burden of an annual fee.

Back To Top