Tangerine World Mastercard Review 2023

Tangerine world mastercard review: Tangerine launched its Tangerine Money-Back credit card, which was widely accepted by consumers.

It was the first and still the only credit card that allowed you to choose your own categories where you would get extra cash back.

With the success of the money-back credit card, many people assumed (or hoped) that Tangerine would issue a travel rewards card in the future.

A new credit card is issued, but you won’t earn any points or miles. This is a really high level cash back credit card. Read my Tangerine World MasterCard review now for all the details.

Tangerine world mastercard review 2023

Tangerine World MasterCard is one of the best cashback credit cards in Canada. It’s basically a high-end version of the Tangerine Money-Back credit card.

You can still choose 3 categories where you will get 2% cash back, all other purchases will give you 0.5% cash back. The categories you can choose from are as follows:

  • grocery store
  • the restaurant
  • drug store
  • entertainment
  • furniture
  • gas
  • Hotel motel
  • Home improvement
  • Parking
  • Recurring Bills

That’s a lot of options, but it’s unfortunate that there’s no common category. You’ll notice that flights aren’t their own category, so you’ll only get 0.5% cash back on airline ticket purchases. That said, the ability to choose your own categories where you get extra cash back is unique.

Tangerine world mastercard benefits

The main difference with the Tangerine World Mastercard compared to money-back credit cards is the insurance benefits you get. Rental car collision/damage insurance is provided.

which covers you for up to 31 days. Plus, you get up to $1,000 in mobile device insurance. With both benefits, you need to charge the full purchase on your phone to be valid.

Purchase assurance and extended warranties are very common benefits, but they can be incredibly useful if you ever need to make a claim.

With Purchase Assurance, your purchase is protected against theft, loss and damage for up to 90 days. For an extended warranty, your manufacturer’s warranty is doubled for up to an additional year.

Tangerine Credit Card Eligibility

Unlike many other MasterCards, the eligibility requirements for the Tangerine World MasterCard are somewhat difficult to reach. Therefore, to qualify for this card, you must:

  • Become a permanent resident of Canada
  • Must be the age of majority in your province or territory
  • Must be free from bankruptcy in last seven years
  • At least $60,000 personal annual income / $100,000 annual household income / $250,000 total balance in Tangerine Savings Account or Mutual Fund Account
  • While there is no required credit score to qualify, we recommend an average credit score above 670 to ensure you can keep up with your card.

Tangerine World Mastercard insurances

After all, the Tangerine World MasterCard is a cash back and not a travel or points card. You are covered by purchase protection and extended warranty insurance. There is also mobile device insurance.

Although the Tangerine World MasterCard is not a travel affinity card, it does have car rental collision/damage (CLD) damage insurance. When you pay for a rental car, you are insured as long as the period does not exceed 31 consecutive days.

However, always read the fine print. Coverage extends to minivans, cars and sport utility vehicles for 8 people or less. You can always buy your own or additional travel insurance elsewhere.

Tangerine World MasterCard Advantages and Disadvantages

Despite the positives of the My Tangerine World MasterCard, you should consider the pros and cons before applying.

(1): Advantages

  • No Annual Fee – This card is basically free.
  • Choose your categories – You can choose 3 categories where you will get 2% cashback
  • Monthly Payments – Your cash back is deposited into your Tangerine account or applied as a statement credit each month with no minimum.
  • Mobile Device Insurance – As a no-fee card, it’s surprising that you get mobile device insurance.

(2): Disadvantages

  • High Income Requirement – Personal income of $60,000 or family income of $100,000 must be approved for the card.
  • No Real Additional Benefits – While additional insurance is nice, there are no real additional benefits compared to the Tangerine Money-Back Credit Card.
Tangerine World MasterCard Vs Money Back

(1): Tangerine Money-Back Credit Card

  • Annual Fee: $0
  • Interest Rate: 19.95%
  • Cash-back: 2%
  • Monthly money-back rewards
  • Unlimited cashback rewards
  • Choose from two personalized categories or deposit your rewards in a Tangerine Savings account and receive a third
  • Balance transfer fee: 3.00% of the amount transferred, or a minimum of $5.00
  • Promotional Balance Transfer Interest Rate: 1.95% interest for first 6 months (19.95% thereafter)
  • Foreign currency conversion: 2.50%
  • Cash Advance: $3 within Canada.50, $5.00 outside Canada
  • Cash Advance Interest: 19.95%
  • Dishonored Payment: $25.00
  • Over limit: $25.00
  • Rush Card: $25.00
  • Previous Statement Reprint: $5.00 per statement, no fee to reprint current monthly statement

(2): Tangerine World MasterCard

  • Annual Fee: $0
  • Interest Rate: 19.95%
  • Cash-back: 2%
  • Monthly money-back rewards
  • Unlimited cashback rewards
  • Choose from two personalized categories or deposit your rewards in a Tangerine Savings account and receive a third
  • Balance transfer fee: 3.00% of the amount transferred, or a minimum of $5.00
  • Promotional Balance Transfer Interest Rate: 1.95% interest for first 6 months (19.95% thereafter)
  • Foreign currency conversion: 2.50%
  • Cash Advance: $3.50 within Canada, $5.00 outside Canada
  • Cash Advance Interest: 19.95%
  • Dishonored Payment: $25.00
  • Over limit: $25.00
  • Rush Card: $25.00
  • Previous Statement Reprint: $5.00 per statement, no fee to reprint current monthly statement
  • Bingo Wi-Fi for MasterCard
  • MasterCard Travel Rewards
  • On-demand and subscription services
  • Rental car collision/damage insurance
  • Mobile device insurance

FAQ:

Is a tangerine card a Mastercard?

Tangerine World MasterCard is a cash back credit card. It has all the best features of the Tangerine Money-Back Credit Card, such as personalized categories, unlimited money-back rewards credited to your account monthly and no annual fee, plus additional benefits.

How hard is it to get a Tangerine credit card?

You must meet one of the following Tangerine World MasterCard criteria: $60,000 or more in gross annual income. Footnote Dagger’s gross household income of $100,000 or more. Balance of $250,000 or more in Tangerine Savings Account(s) and/or Investment Fund Account(s) footnote dagger.

Is Tangerine card a visa?

Tangerine Visa Debit offers a range of features and benefits, including: A Tangerine Bank Exclusive: Customers have a choice of two card designs – a bold matte orange or a sleek gray – making Tangerine the first Visa Debit issuer to be proud to offer card design options. Double asterisks in Canada

Final Judgment

That’s it for this review of Tangerine World MasterCard!

From what we gathered during our careful research, this credit card is a boon for those who want to earn rewards on everyday purchases. The Tangerine World Card allows you to be more flexible with your spending habits by choosing your priority categories.

However, if you miss this card because of some travel benefits, you should consider choosing a travel-oriented card and not one that focuses on everyday spending.

You May Also Like the following:

Instant Credit Card Approval And Use

Leave a Comment