Tangerine World Mastercard® Review

Tangerine World MasterCard In-depth Review

The Tangerine World Mastercard stands as one of only two credit cards presented by Tangerine. It carries certain unique attributes that differentiate it from many other cards, which we'll unpack in this detailed review.

This card is very similar to the Tangerine Money Back card but with the difference that it has some nice additional benefits but at the same time has higher income and credit score requirements to apply. The way their reward program works is exactly similar to each other.

The Rewards

The Tangerine World Mastercard credit card offers a distinctive feature where you can select the categories for which you'd like to earn additional cashback. This stands out, as no other credit card provides such a personalized cashback option and you don't have the option to choose your cashback categories yourself.

You have the option to choose from 10 categories:

1. Grocery

2. Furniture

3. Restaurants

4. Hotel-Motel

5. Gas

6. Recurring Bill Payments

7. Drug Store

8. Entertainment

9. Public Transportation

10. Parking

You have the option to select two of these categories, earning 2% cashback on those and 0.5% cashback on all other categories.

A notable feature of the categories is the flexibility they offer. After opening your account, you can modify your chosen categories. Once you make a change, simply wait another 90 days, and you're free to adjust them again. This can be strategically advantageous. For example, if you expect to have a lot of Furnitue purchases in the upcoming months, you can change your categories to that and after you are done change it back to another category you think you are going spend a lot on.

If you're considering this card, it's also worth exploring the Tangerine Savings account. This account further enhances your benefits by allowing you to select three categories for 2% cashback, amplifying the card's value.

A notable feature of the categories is the flexibility they offer. After opening your account, you can modify your chosen categories. Once you make a change, simply wait another 90 days, and you're free to adjust them again. This can be strategically advantageous. For example, if you expect to have a lot of Furniture purchases in the upcoming months, you can change your categories to that, and after you are done, change it back to another category you think you are going spend a lot on.

There may be cards that give you higher cashback or rewards overall, but most of those cards are ones with an Annual fee, and you have to decide whether you are willing to pay a fee or not. To compare different cards and returns to each other, we recommend using the credit card calculator.

Welcome Bonus

Tangerine offers 10% Extra cashback on your purchases up to $100 earned. This extra means that if you buy something in the 2% categories selected, you will earn 12%; if you buy something outside of the 2% categories, you will earn 10% on top of the 0.5%, meaning %10.5.

So for you to get all the $100 welcome bonus, you need to spend a total of $1000 in the first two months.

2 benefits of Tangerine World MasterCard

1. Impressive Cashback Rate for a No Annual Fee Card

The cashback Tangerine World Mastercard offers is a competetive one especially for a No Annual Fee card. It usually shows up in the top results of no-annual fee cards for users using FinlyWealth's reward calculator.

It also offers one of the highest cashback rates for recurring purchases and Pharmacy purchases in Canada. There aren't many cards even paid ones that offer similar returns for these categories to Tangerine World.

And lastly the other great things about Tangerine's reward program is that it covers Furniture and Home improvement category, two categories not covered by any other reward programs in Canada!

2. Great benefits for a free card

Most No annual fee credit cards offer only Purchase protection and Extended warranty, but the world master card goes much above with the Wi-Fi, Car rental insurance, and Lounge Dragon pass. And that's why we scored it so high for its benefits.

Some cards offer a much more comprehensive list of benefits, but you need to start looking at ones with an annual fee.

Downside of Tangerine World MasterCard

High Requirements

As mentioned in the sections above, for a no annual fee credit card, the World Master card is one of the best there is overall, and that's why it's such a highly rated card.

Other than that, the only downside is that it has some requirements that everyone can't qualify for, but that's about it.

Final Verdict

If you are willing to go for a no annual fee card, then it's possible to get more benefits and rewards. So, in that case, you need to compare them with Tangerine here and make the decision.

But if you want to choose only a card with no annual fee, then this card is one of the best because it offers a good mix of rewards and benefits, and we highly recommend this as one of the cards in your pocket!