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Apr 11, 2024
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Here's everything you need to know about one of the best no-fee credit cards in Canada: the Tangerine World Mastercard.
Welcome offer
Tangerine has been offering the Tangerine Money-Back Credit Card for many years. Actually, it’s one of the best no-fee credit cards in Canada.
Tangerine also offers another credit card with no annual fee, the Tangerine World Mastercard:
If you have an individual income of $60,000 or a family income of $100,000, you may want to consider the World Mastercard Tangerine.
This credit card has no annual fee and offers cashback. With this limited-time welcome offer, you can earn an additional 10% cash back (up to $100) when you spend up to $1,000 on everyday purchases during the first 2 months.
You can choose two to three categories that interest you (groceries, gas, furniture, home improvement, recurring bills, pharmacy, etc.) to earn 2% cash back! And there is no annual cash back limit.
In addition, the Tangerine World Mastercard comes with several insurance coverages for your purchases and travel :
- 90 days purchase insurance
- One year extended warranty
- Mobile Device Insurance
- Rental Car Collision/Loss Damage Insurance
Finally, during your first 30 days, transfer balances and pay only 1.95% interest on the transferred balance for the first 6 months.
A credit card with no annual fee
There is no annual fee. So it’s a card to keep from year to year to improve your credit report (on the historical aspect).
Therefore, the Tangerine World Mastercard is a card that we highly recommend, along with the Tangerine Money-Back Credit Card.
Personalized cash back 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 feature!
So it’s not limited to gas stations, grocery stores, drugstores, etc. like other cash back credit cards. So you could ask to earn 2% cash back on purchases at stores where you shop the most!
Here are the categories:
- Groceries
- Furniture
- Restaurants
- Hotels and motels
- Gas
- Recurring bills payments
- Drugstores
- Home Improvement
- Entertainment
- Public transportation and parking
When being a Tangerine Credit Cardholder, you automatically have the right to choose two categories.
If you are a customer of Tangerine Bank, and you choose to have your cash back deposited into your Tangerine Savings account, you can choose a 3rd category ! If you are not a customer, don’t hesitate to become one, it’s free and you could get a welcome bonus as we explain here!
In other categories, you’ll get 0.5% cashback.
Get your CashBack faster
The cashback is deposited monthly on your credit card balance.
There is no annual limit to continue earning a 2% cash back.
Insurance
Another strength of the Tangerine World Mastercard is the insurance coverage regarding purchases.
It offers:
- Purchase Insurance (up to 90 days)
- One-year extended warranty
And that applies to your purchases made anywhere in the world with your card.
The Tangerine World Mastercard also has other insurance coverages:
- Collision/rental car damage insurance
- Mobile Device Insurance
Rental Car Collision/Loss Damage Insurance
The Tangerine World Mastercard‘s Collision Damage Waiver is convenient because you won’t have to pay for rental car 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 World Mastercard. It covers new cell phones, smartphones or tablets that are:
- 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 World Mastercard, you can access the Mastercard Airport Experiences program provided by LoungeKey. You will be able to show your Tangerine World Mastercard at the entrance to an airport lounge to gain access.
However, you’ll have to pay US$32 per visit.
Conclusion
The Tangerine World Mastercard is for you if you are looking for a credit card :
- with no annual fee
- offering cashback on categories YOU choose
- with insurance protection for your rental cars or mobile phone purchases
This card requires a personal income of $60,000 or a household income of $100,000.
If you don’t have that income level, we recommend the Tangerine Money-Back Credit Card, which offers the same functionality as choosing cash back categories!
Come to discuss that topic in our Facebook Group!
