Tangerine Money-Back Credit Card vs SimplyCash® Card from American Express: Which one is better?
Tangerine Money-Back Credit Card
3.6
RECOMMENDED CREDIT SCORE
SimplyCash® Card from American Express
3.5
RECOMMENDED CREDIT SCORE*
Rewards Breakdown
Annual Rewards
$274.73
Welcome Bonus
$100
Annual Fee
$0
First Year Value
$374.73
$274.73 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
$301.46
Welcome Bonus
$100
Annual Fee
$0
First Year Value
$401.46
$301.46 in years after
Based on $2,000/mo average spending. Calculate your rewards.
Insurance Included
Purchase Protection
90 days
Extended Warranty
Up to a year
Insurance Included*
Purchase Protection
90 daysExtended Warranty
Up to a year
Travel Accident
Up to $100,000
Extra Benefits
N/A
Extra Benefits*
American Express Experiences
Front Of The Line® Presales, Front Of The Line® Reserved tickets and more.
Interest Rates
Purchase:
19.95%
Cash Advance:
19.95%
Interest Rates*
Purchase:
21.992
Cash Advance:
21.992
Annual Fee
$0
Annual Fee*
$0
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 a $10 statement credit for each monthly billing period in which you spend $300 on your SimplyCash® Card from American Express during your first 10 months as a new Cardmember. This can total up to $100 in statement credits within the first 10 months. This offer is not available to current or former Cardmembers of this Card. Additional terms apply.
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*
- 2% cash back on gas and groceries (up to $15,000 in purchases combined)
- 1.25% cash back on all other purchases
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?
The SimplyCash® Card from American Express stands out for its no annual fee and strong cash-back earning potential, offering up to $100 in statement credits within the first 10 months. What makes it even more appealing are the unique perks, such as early access to concert tickets and extra layers of security for online shopping. These extra benefits, along with the affordability, make it a strong contender for those looking for a reliable cash-back card with no annual fee. It's an excellent choice for everyday spending while still enjoying exclusive Amex advantages.
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
Cons
- Insurance coverage is the most basic.
- Very low cashback rate on the other categories not selected.
Cons
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