Tangerine Money-Back Credit Card

Tangerine Money-Back Credit Card

Apply Now
American Express® Aeroplan®* Card

American Express® Aeroplan®* Card

Apply Now

Tangerine Money-Back Credit Card vs American Express® Aeroplan®* Card: Which one is better?


Tangerine Money-Back Credit Card

Tangerine Money-Back Credit Card

4


RECOMMENDED CREDIT SCORE

300
Poor
560
Fair
660
Good
725
Very Good
760
Excellent

American Express® Aeroplan®* Card

American Express® Aeroplan®* Card

3.4


RECOMMENDED CREDIT SCORE*

300
Poor
560
Fair
660
Good
725
Very Good
760
Excellent

Finly Rebate

N/A

Rewards Breakdown

Annual Rewards

$278.6


First Year Bonus

$100


Annual Fee

$0


First Year Value

$378.6

$278.6 in years after

Based on $2,000/mo average spending and assuming you have a Tangerine Savings account. Calculate your rewards.

Rewards Breakdown

Annual Rewards

$517

Air Canada Aeroplan®


First Year Bonus

$630

Air Canada Aeroplan®


Annual Fee

$120


First Year Value

$1,027

$397 in years after

Based on $2,000/mo average spending. Calculate your rewards.

Insurance Included

  • extended warranty

    Extended Warranty

    Up to a year
  • purchase protection

    Purchase Protection

    90 days

Insurance Included*

  • extended warranty

    Extended Warranty

    1 year
  • purchase protection

    Purchase Protection

    90 days, $1,000 per occurrence

  • hourglass timer

    Baggage Delay

    $500 (Aggregated with Flight Delay)
  • car insurance

    Car Rental Damage & Theft

    $85K, up to 48 days
  • heart lock

    Travel Accident

    $500,000
  • burglar

    Hotel Burglary Insurance

    $500
  • hourglass timer

    Flight Delay

    $500 (Aggregated with Baggage Delay)

Extra Benefits

N/A

Extra Benefits*

  • star fall

    Status lift

    Reach Aeroplan Elite™ Status sooner by earning Status Qualifying Miles and Status Qualifying Segments with purchases made on your account
  • luggage

    Free first checked bag

    Enjoy your first checked bag free (up to 23kg/50lb) for up to 9 people travelling on the same reservation on Air Canada®* flights
  • reward cup

    Extra points

    Earn points twice at over 150 Aeroplan partner brands
  • bed furniture

    Free Extra Night at Hotels

    Receive an extra night free for every 3 hotel nights redeemed with Aeroplan points
  • Amex logo

    Amex Experiences™

    Amex Experiences™: From music and movies, to specially curated dining and online shopping opportunities, stay connected with all that we have to offer from the comfort of your own home

Interest Rates

Purchase:

20.95%1

Cash Advance:

22.95%1

Balance Transfer:

22.95% (1.95% first 6 months)1

Interest Rates*

Purchase:

30% Annual2

Cash Advance:

30% Annual2

Annual Fee

$0

Annual Fee*

$120

Income Required

Min Personal Income:

N/A

Min Household Income:

N/A

Income Required*

Min Personal Income:

N/A

Min Household Income:

N/A

Welcome Bonus

In the first 2 months, get a bonus 10% cash back up to $100

Welcome Bonus*

Earn 30,000 Aeroplan® points after spending $3,000 in purchases on your Card within the first 3 months. Plus, earn an additional 10,000 Aeroplan® points when you spend $1,000 in purchases in month 13.

Rewards Rate

  • 2% on the choice of two categories chosen from the 10 offered by Tangerine
  • 0.5% cashback on all other credit card purchases.

Rewards Rate*

  • 2x Aeroplan® points on eligible purchases made directly with Air Canada®* and Air Canada vacations®*
  • 1.5x Aeroplan® points on eligible Dining and Food Delivery purchases in Canada
  • 1x Aeroplan® point on everything else

Loyalty Program

N/A

Loyalty Program*

Point Redemption Options

Not Applicable

Point Redemption Options*

  • Most Optimal

    flight plane

    Aeroplan® Flights

    2.1¢ / point
  • car rental

    Car Rentals

    0.9¢ / point
  • travel - plane

    Travel

    0.825¢ / point
  • online shop

    Merchandise

    0.75¢ / point
  • gift card

    Gift Cards

    0.72¢ / point

Is this card worth it?

While we think Tangerine isn't the best single credit card to own, it's still a valuable card to have in your arsenal for maximizing your rewards. It offers one of the highest cashback rates for pharmacy and recurring bill payments, areas where your other credit cards might not provide significant rewards. This card only requires a Fair credit score, making it an excellent choice for people who don't have a high credit score yet.

Is this card worth it?

This card comes with the free checked bag benefit, which can save hundreds on a single trip for you and your family, more than making up for the annual fee of the card. In addition, the card helps you reach the next Aeroplan Status faster with spending on the card. However, if you don't have a specific use for these two benefits, there are many better cards in terms of benefits and rewards.

Pros

  • Allows you to change the categories, and you get a 2% reward depending on how your spending is changing every 90 days.
  • 2% cashback on recurring Transactions and pharmacy purchases. One of the highest cashback rates on these categories among credit cards in Canada. 
  • Has cashback on Furniture and Home Improvement categories. Two categories that are not covered by any other card in Canada.
  • Easy credit score requirements needed for this card.
  • Overall, it is a good no-annual-fee cashback credit card, especially if you have a Tangerine Savings account.

Pros

  • Free checked bag benefit: Every checked bag might cost you $60 - $100 per person on a round trip. The amount you can save in a year if you travel a few times or travel with a few companions can easily be much higher than the annual fee of the card.
    If you are interested in a higher Aeroplan Status, the card helps you get there faster.

Cons

  • Insurance coverage is the most basic.
  • Very low cashback rate on the other categories not selected.

Cons

  • The main reward category is only for Air Canada purchases. Unless you are a frequent Air Canada traveler, this reward category is not useful to most people.
  • The only other rewards category offered is for food, and it doesn't offer that high of a reward rate either.
  • In terms of insurance benefits, the types and coverage amounts provided are lower compared to other cards with a similar annual fee.

Legal


*American Express is not responsible for maintaining or monitoring the accuracy of information on this website. If you apply and get approved for an American Express Card, (I/we) may receive compensation from American Express, which can be in the form of monetary payment. Check here for full details and current product information.
1 The annual interest rate on Purchases is 20.95% and Cash Advances (including Balance Transfers) is 22.95%. Rates are subject to change. If you don't make 2 consecutive monthly Minimum Payments, or at any time thereafter, an interest rate of 25.95% will apply to your Account on Purchases and 27.95% on Cash Advances (including Balance Transfers).
2 As a Charge Card, the balance must always be paid in full each month. 30% annual interest rate applies to balances not paid in full. Payments must be received and processed by the date of the next monthly statement to avoid interest charges.

We may earn a commission for some of the products featured on this site. The content and reviews on FinlyWealth are independent and not influenced by advertisers. For the latest details on any product, please visit the advertiser's official website. The content provided on this website, including any credit card recommendations, is for informational and entertainment purposes only and does not constitute financial, legal, or tax advice. The owner and author(s) of this website are not financial, legal, or tax professionals. All views and opinions expressed herein are solely those of the author(s) and may not reflect the best choice for your unique situation. Always consult with a qualified professional before making any financial decisions. The owner and author(s) of this website shall not be held liable for any inaccuracies, errors, or omissions in the content or any resulting actions taken by readers.

Copyright © FinlyWealth 2024 All Rights Reserved.