- Damage and theft protection for your car rental for a maximum of 31 consecutive days
- Mobile device insurance for devices purchased on your card (covers a maximum of $ 1000 if the device is lost, damaged, stolen or mechanical)
- A free membership with MasterCard Airport -experiences from Dragonpass (no free lounge passes)
How much can you earn with the Tangerine Money-Back-Credit Card?
The amount you can earn with the Tangerine Money-Back card varies depending on your spending habits. To give you an idea of the earning potential, we have chosen three common bonus categories – sources, recurring accounts and dining – while we assume that a monthly budget of $ 2,000 is spent as follows:
| Spending category | Deserve | Monthly expenses | Annual reward |
|---|---|---|---|
| Groceries | 2% | $ 500 | $ 120 |
| Recurring accounts | 2% | $ 200 | $ 48 |
| Eating | 2% | $ 300 | $ 72 |
| Everything else | 0.5% | $ 1,000 | $ 60 |
| Total | $ 2,000 | $ 300 |
Based on this scenario you earn back $ 300 in cash annually, which is a nice bonus, because the card has no annual reimbursement.
The unique reward structure of Tangerine offers you the possibility to choose your own bonus categories, making it ideal to combine with another credit card to maximize your rewards as part of a strategy with two cards. We love the mandarin money back in combination with the SimplyCash card from American Express*. The latter also has no annual reimbursement, but earns a flat 1.25% for everything you buy. With this strategy you would use the Tangerine card for purchases in accelerated categories and the American Express SimplyCash for everything else to collect more money.
| Spending category | Credit card and earn rate | Monthly expenses | Annual reward |
|---|---|---|---|
| Groceries | Mandarin money back 2% | $ 500 | $ 120 |
| Recurring accounts | Mandarin money back 2% | $ 200 | $ 48 |
| Eating | Mandarin money back 2% | $ 300 | $ 72 |
| Everything else | SimplyCash card from American Express 1.25% | $ 1,000 | $ 150 |
| Total | $ 2,000 | $ 390 |
By easily using these cards together, you can increase your annual income by $ 90 – all without annual costs.
Are there any disadvantages of the Tangerine Money-Back-Creditcard?
The regular return rate on the Tangerine card is only 0.5%, which is better than nothing, but it will not get newspaper heads. Also, not much is assumed with extras with this card (for example, there is no benefits for travel insurance) although the standard purchase protection and extensive warranty apply.
What about the competition?
The truth is told, there are not many products that compare with the Tangerine Money-Back card, because no other card allows your own bonus categories to choose. However, these cards also deserve attention.
Simple visa card for financial cash back
Although less flexible than the Tangerine card, this simplii credit card offers a huge 4% back on purchases in restaurants, coffee shops and bars up to $ 5,000 a year, and 1.5% back on gas, groceries, purchases of drugstores and torn payments up to $ 15,000 per year. As soon as a cardholder reaches that limits, they earn the standard 0.5%. For those who often go out to eat, this can be an excellent choice.
exuberant
Simple financial cash back visa
Annual reimbursement: $ 0
Welcome offer: Earn up to 10% in cash for your first 3 months (on the first $ 1,000 in purchases). General terms and conditions apply. (Not available to residents of Quebec.)
Map data
| Interest rates | 20.99% on purchases, 22.99% on cash advances, 22.99% on balance transfers |
| Income required | $ 15,000 a year |
| Credit score | 660 or higher |
SimplyCash card from American Express
SimplyCash card from American Express offers a competitive money back rate of 2% on gas and groceries, plus a basic rate of 1.25% on all other purchases, making it one of the best cards back in Canada. American Express adds a boost with $ 100,000 in travel accident insurance and access to virtual events and special offers with American Express experiences.
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