Tangerine Money Back no-fee credit card was launched last year on 6th October as a preview. At that time only a few Canadians were selected to use this Master Card. Tangerine Master Card is now in the market for almost a year, It was launched early this year for everyone. The best thing about this card is that it’s No-Fee credit card and you can get up to
4% 2% money back on up to 3 different categories and 0.5% on other.
Most of the Canadians already know about this Credit card as it is very popular in Canada because of its features, but this review is for those who don’t know about it yet or who are thinking to apply for it.
When I came to Canada (in 2013) as a Student, my first Credit Card was Scotia Bank Scene Visa Card and it was fine for me during my college days as you get free movies with scene points you collect. Scene Visa only gives you 1 point for $1 you spend and technically it comes out to 1% rewards only. But as soon as my Study was completed my privilege for free bank account was also over and at that time I switched to Tangerine No-fee Chequing account and closed everything with Scotia as I’ll be getting
same extra benefits from Tangerine Bank as it is owned by The Bank of Nova Scotia (Scotia Bank).
Best No-Fee Bank Account for Canadians
Why you should apply for Tangerine Master Card:
There is no doubt that Tangerine Master Card offers a lot of features absolutely without any fees. It’s been only 4 months I switched to Tangerine Master Card and I’ve already earned almost $160 as Money Back rewards into my account. Now some of you may be thinking that I’ve spent lot to earn this much of rewards and you’re right, but at same time if I were using some other credit card either I would have high annual fees on it or I would get very less or no rewards.
Flexibility on Selection of Categories of Your Choice:
Now I was able to earn this much of rewards because Tangerine allows you to use the categories in which you think you’ll spend more. Tangerine is offering a special offer for first 3 months in which you can earn double cash back (up to 4%) rewards on your selected categories. Tangerine will automatically suggest your most spending categories and you can switch to them if you want or you can change the categories every 3 months.
No Limit on rewards:
There is no limit that how much you can earn as cash back rewards. Unlike other Credit Cards, even the Credit cards with Annual fees has some limits up to which you can earn rewards yearly.
No minimum limit on rewards redemption:
There is no limit on the redemption of rewards. The whatever amount you earn every month as rewards will be automatically deposited to your savings account (if you’ve a savings account with Tangerine) or will be adjusted towards your credit balance.
No Minimum Salary Requirement:
The great thing about this Master Card is that you need not to be earning $60,000 to apply for it. You just need to be a Canadian Resident with the age of majority in your province and should not have declared bankruptcies in last 7 years.
No issues so far:
I’d no issue so far in using this credit card except the first time when I used the credit using Chip method and the transaction went without any PIN authorization but I believe it synchronized or updated the PIN on the Card.
If above listed features still didn’t convince you to apply for a Tangerine Credit Card than this No-Fee Credit Card also offers extended warranty on the products you buy using this card. You’ll also get 90 days purchase assurance from the date of purchase which covers damage, loss or theft with coverage of up to $60,000 maximum. Moreover, it has only 1.5% foreign conversion fees on this card.
Addition to all above features you can also use this card with Apple Pay and it has all Master Card benefits like a Zero Liability and Tap & Go feature.