Tangerine Money-Back Credit Card

American Express Platinum Card®

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

Tangerine Money-Back Credit Card

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RECOMMENDED CREDIT SCORE

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

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American Express Platinum Card®

4.5

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RECOMMENDED CREDIT SCORE*

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

Get your free credit score

Finly Rebate

$50 $100 Cash Rebate from FinlyWealth

Promotional rebate expires on Jun 15, 2025

Finly Rebate

N/A

Rewards Breakdown

Annual Rewards

$278.6

First Year Bonus Value

$100

Annual Fee

Finly Rebate

$50

$100

Exclusive Offer

First Year Value

$478.6

$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

$581.26

American Express Membership Rewards

First Year Bonus Value

American Express Membership Rewards

Annual Fee

$799

First Year Value

-$217.74

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

Insurance Included

Extended Warranty

Up to a year

Purchase Protection

90 days

Insurance Included*

Extended Warranty

1 year

Purchase Protection

120 days

Lost or Stolen Baggage

$1,000

Baggage Delay

$1,000

Car Rental Damage & Theft

Yes

Travel Accident

$500,000

Hotel Burglary Insurance

$1000

Emergency Out of province Medical

15 days

Trip Cancellation

$2,500

Trip Interruption

$2,500

Flight Delay

$1,000

Extra Benefits

N/A

Extra Benefits*

Trip and legal Assistance

Concierge Services

American Express® Experiences

Status lift

Upgrade to Hilton Honors Gold Status

Status lift

Upgrade to Marriott BonvoyTM Gold Elite status

Extra points

Earn 2 points on Amex Travel Online purchases and extra points on American Express offers

Travel Credit

$200

Dining Credit

$200 at Select Restaurants

Nexus Program Rebate

$100 statement credit every 4 years

Airport Lounge - American Express Global Lounge

Take full advantage of The American Express Global Lounge Collection™ which unlocks access to over 1,400 airport lounges worldwide. This includes The Centurion® Lounge network, Plaza Premium Lounges, and hundreds of other domestic and international lounges designed to enhance your travel experience.

Complimentary Hotel Benefits

Hotels booked American Express Travel

Priority Travel

At Toronto Pearson Airport get Priority Security lane, Complimentary valet and 15% discount at the Express Park and daily park

Interest Rates

Purchase:

20.95%¹

Cash Advance:

22.95%¹

Balance Transfer:

22.95%¹

Interest Rates*

Purchase:

21.99% - 30%²

Cash Advance:

N/A²

Annual Fee

Annual Fee*

$799

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*

New Platinum® Cardmembers, earn 70,000 Welcome Bonus points after you charge $10,000 in net purchases to your Card in your first 3 months of Cardmembership. Plus, earn 30,000 points when you make a purchase between 14 and 17 months of Cardmembership.

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 points per $1 spent on eligible dining & food delivery purchases (restaurant, fast food, coffee shop, food delivery)
2x points per $1 spent on eligible travel purchases (flights, hotels, tours and more)
1x point per $1 spent for all other purchases

Loyalty Program

N/A

Loyalty Program*

American Express Membership Rewards

Point Redemption Options

Not Applicable

Point Redemption Options*

Most Optimal

Transfer to Airline Partners

2.1¢ / point

Fixed Point Travel Program

1.66¢ / point

Transfer to Hotel Partners

1.66¢ / point

Statement Credits (Cash)

1¢ / point

Gift Cards

0.91¢ / point

Amazon.ca

0.7¢ / point

Merchandise

0.63¢ / 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?

If you're a frequent traveler, the Platinum card is an excellent choice. It's highly recommended for its extensive travel benefits, including unlimited lounge access for you and a guest at the American Express Lounge collection, making it the best card for lounge access in Canada. The card also offers unique perks not commonly found with other Canadian cards, such as status upgrades at Marriott Bonvoy and Hilton, dining and travel credits, concierge service, airport benefits, Nexus application reimbursement, and more. These benefits can more than offset the annual fee. However, if you don't travel often or are mainly looking for a card that maximizes rewards, this card may not be the best option for you.

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

Offers more perks than any other credit card in Canada, catering to premium users who value extensive benefits.
Enjoy $400 in annual travel and dining credits, which can offset some of the card's cost.
Gain unlimited access to over 1,400 airport lounges worldwide, enhancing your travel experience.
Multiple options for redeeming points for high value, giving you flexibility in how you use your rewards.
Includes 11 types of insurance coverage, offering comprehensive protection for cardholders.

Cons

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

Cons

As with other American Express cards, it may have lower acceptance in some locations compared to other networks.
The high annual fee of $799 may be a barrier for some users, especially those who do not fully utilize the card's benefits.
Some benefits are limited to specific airports and hotels.

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Legal

^**Terms and conditions apply. This Charge Card requires full payment of the Due in Full balance each month, with a 30% interest rate on late payments. The Flexible Payment Option balance has a 21.99% interest rate, which increases to 25.99% after two missed payments and 28.99% after three or more within 12 months. A 21-day interest-free grace period applies to new transactions if the full balance is paid by the due date. 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 This Charge Card requires full payment of the Due in Full balance each month, with a 30% interest rate on late payments. The Flexible Payment Option balance has a 21.99% interest rate, which increases to 25.99% after two missed payments and 28.99% after three or more within 12 months. A 21-day interest-free grace period applies to new transactions if the full balance is paid by the due date.