Review: Tangerine Money-Back World Mastercard

Tangerine has offered two credit cards for many years.

First, the Tangerine Money-Back Credit Card, which is among the best no-annual-fee credit cards in Canada.

Tangerine also offers another no annual fee credit card, the Tangerine^® Money-Back World Mastercard^®*. Here is the current welcome offer:

Tangerine^® Money-Back World Mastercard^®*

If you have an individual income of $60,000 or a household income of $80,000, you can choose the Tangerine Money-Back World Mastercard^®* from Tangerine^®.

This credit card has no annual fee and earns cash back on your everyday purchases. With the current offer, you can get $100 when you spend $1,500 in your first three months^††.

You earn unlimited 2% cash back in 2 categories of your choice and 0.5% on all other purchases. Plus, you can add a third 2% category when your cash back is deposited into a Tangerine savings account.

Choose from 13 spending categories (groceries, gas, restaurants and more) and change them every 90 days to match your spending habits^◊.

The card also includes useful protections, including purchase assurance and extended warranty⁵, as well as mobile device insurance and coverage for rental vehicles⁵.

Finally, you can transfer balances from high-interest credit cards and enjoy a promotional rate of 1.95% for 6 months (a 1% transfer fee applies)¹¹.

Fuel savings at Shell

All Tangerine cardholders can get fuel discounts and rewards at Shell and with Scene+^™ by linking their cards to their Shell Go+ account. Get up to 8¢/L in value with a linked Tangerine Money-Back World Mastercard or Money-Back Credit Card:

• Instant discount of 3¢ per litre on all types of Shell fuel.
• Up to 3¢ per litre back when gas is selected as a 2% category.
• 1¢ per litre in Scene+ points value^™ on all types of Shell fuel, or 2¢ per litre in Scene+ points value^™ on Shell V-Power fuel^® when your Scene+ account^™ is linked to Shell Go+.

A Credit Card with No Annual Fee

There are no annual fees. So it’s a card to keep from year to year to improve your credit report (on the historical aspect).

The Tangerine^® Money-Back World Mastercard^®* is a card we highly recommend, alongside the Tangerine Money-Back Credit Card.

Personalized Cash Cack Categories

With both Tangerine credit cards, you earn 2% money back on everyday purchases in up to 3 categories of your choice. They are the only ones in Canada to offer this choice!

So it’s not limited, like most other cash back cards, to categories such as gas stations, grocery stores, pharmacies, etc. So you could ask to earn 2% cash back on purchases at stores where you shop the most!

Here are the 13 available categories:

• Grocery
• Furniture
• Restaurants
• Hotels-motels
• Gas
• Recurring bill payments
• Pharmacy
• Home Improvement
• Entertainment
• Public transportation and parking
• E-Games
• Fitness and Sports Clubs
• Foreign Currency Purchases

By being a cardholder of one of these cards, you automatically have the right to choose two categories.

If you are a Tangerine Bank client and choose to deposit your cash back into your Tangerine savings account, you can choose a 3rd category ! If you are not a client, do not hesitate to become one; it’s free, and you could receive a welcome bonus as we explain here!

In other categories, you’ll get 0.5% cash back.

Cash Back Payout

The cash back is deposited monthly on your credit card balance.

There is no annual limit to how much cash back you can keep earning at the 2% rate.

Insurance

Another highlight of the Tangerine^® Money-Back World Mastercard^®* is its purchase insurance.

It offers:

• Purchase protection (for 90 days)
• One-year extended warranty

And that applies to your purchases made anywhere in the world with your card.

The Tangerine^® Money-Back World Mastercard^®* also offers other insurance coverages:

• Collision/rental car damage insurance
• Mobile Device Insurance

Rental Car Collision/Loss Damage Insurance

The rental car collision/damage insurance provided by the Tangerine^® Money-Back World Mastercard^®* is very valuable, as it allows you to avoid paying for this insurance with the rental company. A savings of $20-25 per rental day!

This insurance applies to car rentals for up to 31 consecutive days.

Mobile Device Insurance

Mobile device insurance is also a great benefit offered by the Tangerine^® Money-Back World Mastercard^®*. This provides coverage for new phones, smartphones, or tablets in case of:

• Lost
• Stolen
• Accidentally damaged
• Experienced mechanical failure

This coverage is for a maximum amount of $1,000.

Access to the Mastercard Airport Experiences program, provided by LoungeKey

With the Tangerine^® Money-Back World Mastercard^®*, you can access the Mastercard Airport Experiences program provided by LoungeKey. You can present your Tangerine^® Money-Back World Mastercard^®* at the entrance of an airport lounge to gain access.

However, each access will be charged at a cost of USD 32 per visit.

Conclusion

The Tangerine^® Money-Back World Mastercard^®* is for you if you are looking for a credit card:

• No annual fee
• Offering cash back in one of the 13 categories you choose
• With insurance coverage for your car rentals or mobile device purchases

This card requires a personal income of $60,000 or a household income of $100,000.

If you don’t meet this income requirement, we recommend applying for the Tangerine Money-Back Credit Card, which offers the same ability to choose your cash back categories!

Finally, combine Tangerine product offers to maximize cash back, savings rates, and benefits, through a simple and effective strategy.

What are the benefits of the Tangerine^® Money-Back World Mastercard^®*?

It offers 2% cash back in three categories of your choice and 0.5% on other purchases, with no annual fee.

What are the conditions for obtaining the World Mastercard version?

A personal income of at least $60,000 or a household income of $100,000 is required to be eligible.

Can I change my cash back categories?

Yes. You can change your categories every 90 days in the Tangerine mobile app or your client area.

Is the cash back paid out automatically?

Yes. Your cash back is deposited monthly into your Tangerine account or applied to your card balance.

Frequently Asked Questions about the Tangerine^® Money-Back World Mastercard^®*

Here are frequently asked questions in the milesopedia community about this card.