Overview of the Tangerine Money-Back Credit Card

Get a $100 Amazon gift card upon approval
Earning categories
On up to 3 categories of your choice
10%On everyday purchases up to $100* as a welcome offer
Tangerine Money-Back Credit Card details
- Annual fee
- $0
- Reward
- Earn 2% on up to 3 categories of your choice, 10% on everyday purchases up to $100* as a welcome offer
- Average point value
- $1
- Balance transfer offer
- 1.95% per month for the first 6 months
- Purchase interest rate
- 19.95%
- Cash advance interest rate
- 19.95%
- Balance transfer interest rate
- 19.95%
- Minimum income
- $12K/yr
- Household income
- Any amount
- Recommended credit score
- 660+
- Network
- Mastercard
- Provider
- Tangerine
- Card type
- Cash back
Detailed card summary
Benefits & features
- Life’s back in session. Enjoy it with an extra 10% back.*
- Apply for a Tangerine Money-Back Credit Card by May 2nd, 2023 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.
How to redeem
Credit to statement balance, or savings account, monthly
How to get approved
Eligibility
- Minimum income $12K/yr
- Household income Any
- Recommended credit score 660+
- You are a permanent Canadian resident and have reached the age of majority in the province in which you live.
User reviews
Average user score for Tangerine Money-Back Credit Card
4.5 | 23 reviews
Brittany Walker
I got this credit card before traveling to the USA because of the great exchange rate. I was also able to receive great cash back perks on gas during our travels. They approved me for a great limit and I feel comfortable traveling knowing that I have a back up plan.
Meina
Very convenient to apply and have good cash back. Will recommend to a friend
Roger Mariamo
It is a good credit card overall with a generous money back policy, especially for the first 90 days where rewards are doubled. However, the additional insurances (travel, car,...) offered on the card are limited or non existent.
Ryley goulah
I found the experience to be quite seamless. I have been using the tangerine credit card for 3 weeks with no problems. But if it wasn’t for the free amazon gift card I don’t think I would of got it
douglas lam
the credit card looks great.the cashback is awesome.
bonneville
I have good service
Ratehub review

Mikael Castaldo
Cash back cards are great; they’re simple and straightforward. You don’t need to worry about blackout dates, points devaluing, or the complicated process of figuring out how to best maximize each point.
Out of the country’s large catalogue of cash back credit cards, the Tangerine Money-Back Card has been a favourite with everyday Canadians and personal finance experts alike.
While the fact it’s a no annual fee card is a big reason behind its popularity, what really sets the Tangerine Money-Back Credit Card apart is its customizability. With this card, you can choose your own bonus categories (which will earn you a strong cash back rate of 2% per dollar spent). This is rare in the credit card market and means you can avoid being locked into a bonus category that you can’t take full advantage of or that doesn’t align with your spending habits.
For everything you need to know about the Tangerine Money-Back credit card, read our full review below.
Tangerine Money-Back Card – Quick review
Pros
- This card charges no annual fee.
- The Tangerine Money-Back Card gives you the flexibility to pick up to three bonus categories to earn 2% cash back on (out of a total of 10 options). This is in sharp contrast to most other cards, which have fixed bonus categories that you have no control over.
- 2% cash back per dollar on bonus categories is one of the richest earn rates for a no-fee card.
- You have the freedom to change up your bonus categories at any time (changes will take up to 90 days to come into effect).
- The Tangerine Money-Back is a Mastercard credit card, which means it’s accepted almost everywhere including No Frills and Costco.
- This card provides extended warranty and purchase protection.
Cons
- For all purchases that aren’t categorized under one of your chosen bonus categories, you’ll earn just 0.5% cash back.
- This card offers no travel medical insurance or any substantial side perks.
Tangerine cash back categories
As a Tangerine Money-Back cardholder, you can get 2% cash back in up to three of the spending categories listed below. Note: many of the choices aren’t conventionally offered by cash back credit cards, which is another reason why the Tangerine Money-Back Credit Card stands apart from its competition.
- Restaurants (which includes cafes, fast food, and food deliveries)
- Groceries
- Gas
- Parking (which includes taxis, Uber, public transit, and road tolls)
- Recurring bills (which includes purchases that are set as pre-authorized payments)
- Drug store
- Entertainment
- Hotels and motels
- Home improvement
- Furniture
For purchases that don’t fall under one of your chosen bonus categories, the Tangerine Money-Back Card will earn you 0.5% cash back per dollar.
Get up to 3 bonus categories by opening a Tangerine Savings Account
By default, the Tangerine Money-Back Card lets you choose a maximum of two bonus categories. However, if you also open a Tangerine Savings account, you’ll unlock the ability to select a third bonus category. Since Tangerine’s savings account is free and offers a somewhat decent rate of 0.15%, opening an account is a no brainer – even if it’s just to get a third bonus category on your card.
You also have the option to swap out your bonus categories at any time, though the changes won’t be reflected immediately and will come into effect after 90 days. With that in mind, it’s best to avoid trying to “game” rewards and instead stick to the same categories unless you plan on making a big change to your spending habits.
As highlighted earlier, the Tangerine Money-Back also offers 0.5% cash back per dollar on non-bonus category purchases. While 0.5% isn’t all that impressive, by choosing your bonus categories strategically, you can earn 2% on the purchases you make the most frequently and 0.5% on those you make the least often. As an added plus, Tangerine’s user-friendly app makes it easy to identify where (and on what) you spend your money on the most.
Use the Tangerine Money-Back Card as part of a two-credit card strategy
Since this card has no annual fee, you can carry it at no extra cost and use it in combination with another card to maximize your rewards.
For example, if you use the Tangerine Money-Back Card for purchases that fall under one of your bonus categories and the SimplyCash Card from American Express (which offers a flat 1.25% cash back) for everything else, you could walk away with substantially more rewards every year than if you were carrying only one of these cards. You can also employ the same strategy with other credit cards. For example, the TD CashBack Visa Infinite offers 3% on groceries, gas, and recurring bills, but 1% on everything else. By also carrying the Tangerine Money-Back, you could strategically pick bonus categories like dining, public transit, and pharmacies to fill the gaps and earn 2% in categories that would’ve only earned you 1% with just the TD Cash Back Visa Infinite.
Interest rate, fees and income requirements
Along with its flexibility, one of the Tangerine Money Back Card’s most appealing features is the fact it’s a no fee credit card.
In terms of interest rates, Tangerine’s credit card falls in line with what most other cards charge: 19.95% annual interest rate on purchases, cash advances and balance transfers. Tangerine offers a low balance transfer offer of 1.95% for new cardholders for the first six months.
Lastly, the card’s income qualification requirement is low at $12,000, a reason why we chose to feature this card on our list of Canada’s best credit cards for students.
Monthly redemptions
In contrast to most other cash back credit cards, which reimburse your cash back earnings annually, the Tangerine Money-Back Card will provide your cash back rewards every month. This happens automatically, regardless of how much you spend with no redemption minimum.
It’s yet another reason the Tangerine Money-Back Card frequently appears on our list of the best cash back credit cards in Canada.
The redemption process does vary slightly depending on whether you have a Tangerine Savings account. If you don’t, your cash back rewards will be applied directly to your credit card statement. If you do, your rewards will be deposited into your Tangerine Savings Account, which you can then do with it as you please.
Additional perks
This is perhaps the only area where the Tangerine-Money Back Card doesn’t offer a distinct advantage. While the card does provide extended warranty (up to an extension of one year) and purchase assurance, it doesn’t offer travel medical insurance or car rental insurance benefits. Since the card charges no annual fee, however, you can consider picking up another credit card to use alongside the Tangerine Money-Back Card which does offer these benefits.
Almost universally accepted
For its credit card, Tangerine partnered with Mastercard. That means the Tangerine-Money Back is accepted almost anywhere that accepts credit cards – including popular discount grocers and retailers which don’t accept Visa or American Express such as No Frills and Costco.
Also Read:
Legal
General Terms:
Applicants must apply for the Card and must consent to a credit check. Accounts must be in Good Standing in order to receive Money-Back Rewards. See the Tangerine Money-Back Rewards Program Terms & Conditions for full details.
Balance Transfers are treated as Cash Advances and interest applies from the transaction date that appears on your monthly statement to the date you repay the balance in full. There is no interest-free grace period on Cash Advances or Balance Transfers.
Annual Interest Rates: The annual interest rate on Purchases and Cash Advances (including Balance Transfers) is 19.95%. Rates are subject to change. If you don’t make 2 consecutive monthly Minimum Payments, or at any time thereafter, an interest rate of 24.95% will apply to your Account on Purchases and Cash Advances (including Balance Transfers).
Other Fees and Rates: These fees are charged on the day the transaction occurs (unless otherwise indicated): Cash Advance: $3.50 within Canada, $5 outside of Canada; Balance Transfer: 3% or minimum of $5 (unless reduced or waived) of the amount transferred when it is posted to your Account. Dishonoured Payment: $25; Rush Card: $25; Over-Limit: $25 (maximum one Over-Limit charge per monthly statement period); Past Statement Reprint: $5 per past statement. There is no charge for a reprint of your current monthly statement. Foreign Currency Conversion: When the converted transaction amount gets posted to your Account, we’ll add a foreign currency conversion fee of 2.50% to the converted transaction amount.
See your Information Box in the application for full details. Rates and fees are subject to change.
*Rewards Promotional Offer:
The Tangerine 10% Limited Time Promotional Offer (the “Offer”) is only available to new Tangerine Credit Card Account holders who (i) apply for a Tangerine Money-Back Credit Card (the “Account”) by May 2nd, 2023, (ii) activate their Account within 45 days of approval, and (iii) have up to a maximum of $1,000 in total Net Purchases posted to their Account within the 60-day period beginning on the date the Tangerine Money-Back Credit Card is activated. “Net Purchases” include purchases charged to the Account (less any refunds, returns or other similar credits) but do not include payments, Cash Advances (including Balance Transfers and Cash-Like Transactions), interest, fees, insurance premiums, adjustments or other charges. The Offer Bonus of 15% (up to $150) will be credited to the Primary Cardholder’s Account within 1-2 statement cycles after the 60-day promotional period provided the Account is open and in Good Standing at time of payout. Limit of one Offer per eligible Client. This Offer is non-transferable. Offer may be changed, cancelled or extended at any time. All other Account terms, including the Tangerine Money-Back Rewards program terms, remain unchanged and continue to apply. See the Tangerine Credit Card Cardholder Agreement for more details, including definitions of any capitalized terms.
†Balance Transfer Promotional Offer at 1.95% for 6 months (1% Balance Transfer Fee)
A Promotional Interest Rate of 1.95% will apply immediately to any and all Balance Transfers made within 30 days of the Account opening, and will remain in effect for 6 Statement Periods from the date the last such Balance Transfer was posted to the Account (the “Promotional Rate Period”). If you still have an amount owing from your Balance Transfer when the Promotional Rate Period ends, the Cash Advance interest rate (currently 19.95%) will apply to that balance. A 1% Balance Transfer Fee will be charged on each Balance Transfer amount and will be immediately charged to your Credit Card. This Balance Transfer Fee is waived by Tangerine if you are a resident of the province of Québec at the time you accept this offer. To take advantage of this Promotional Offer, you must complete the Balance Transfer request within 30 days of Account approval. You must also activate your Card within 45 days of Account approval for the requested Balance Transfer to be processed, or the Balance Transfer will be automatically cancelled. Note that if your Balance Transfer amount(s) equal your available credit, then the Balance Transfer Fee will put your Account over your credit limit and may be rejected in whole or in part. Balance Transfers are treated as Cash Advances on your Card and do not have an interest-free grace period. Interest applies from the transaction date that appears on your statement for that Balance Transfer to the date you repay the Balance Transfer in full. It may take a few business days to complete the Balance Transfer request. You should continue to make payments to the other financial institution until the Balance Transfer appears on your statement. You must continue to make the Minimum Payments on your Account, regardless of whether the Balance Transfer has been processed to your Account. Interest does not accrue on the Balance Transfer Fee, however it is included in the Minimum Payment amount on your monthly statement. You must continue to make all of your monthly Minimum Payments by the Payment Due Dates shown on your monthly statements. If you don’t make your Minimum Payment by the payment due date as shown on 2 consecutive statements, your interest rate will increase to your higher standard rate that applies to the Account (currently 24.95%). If you pay more than your Minimum Payment on your statement, we’ll apply the excess amount of the payment to your balance proportionately based on the interest rate(s) applicable to each group of charges billed on your Account. Please see the Credit Card Cardholder Agreement for more information on how we apply payments to your Account.
We don’t charge interest on new Purchases that appear on your statement for the first time if we receive full payment of the Balance on your statement (including payment of any Balance Transfers included in that Balance), by the Payment Due Date on your statement. Balance Transfers may not be used to transfer money to or from another Tangerine Account. See the Information Box at tangerine.ca/creditcardlegal for full details.
Cash Advances (including Balance Transfers) do not earn Tangerine Money-Back Rewards. See the terms and conditions of the Tangerine Money-Back Rewards Program at Tangerine.ca/CreditCardLegal for full details on other items that do not earn Tangerine Money-Back Rewards.
Any of these offers may be changed or cancelled at any time without notice. Rates and fees are subject to change.
Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
Tangerine is a registered trademark of The Bank of Nova Scotia, used under licence.
Forward Banking is a registered trademark of Tangerine Bank.
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