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Tangerine World Mastercard® Review

Credit Acceptance:

Card Network:

MASTERCARD

Good

660-724

Up to $100 (Extra 10% on all purchases)

Signup Bonus

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$
Cash
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Cash

Income Requirement:

$60,000 Personal

$100,000 Household

9.0/10

Our Rating

Card Type

Cashback

Annual Fee

$0

Institution

Tangerine

Interest Rate

19.95%

Earning Rewards

Earn 2% Money-Back Rewards on your everyday purchases in two (three if you have Tangerine savings account) Categories of your choice: Grocery, Furniture, Restaurants, Hotel-Motel, Gas, Recurring Bill Payments, Drug Store, Entertainment, Public Transportation and Parking

0.5% cashback on everything else

AVERAGE

Redeeming Rewards

What can you do with your rewards?

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What's a good redemption?

GOOD

Insurance & Benefits

Car Rental insurance

Lounge DragonPass

No Complimentary visits

Purchase Protection

90 Days

Mobile Device

$1000

Boingo Wi-Fi hotspot

Extended Warranty

1 Year

• Stay connected with over 1 million Boingo Wi-Fi hotspot worldwide.
• Access to +1300 Airport lounges with MasterCard DragonPass. Complimentary visits not included!
• Car Rental Theft and damage insurance
• Mobile Device Insurance up to $1000
• Purchase Protection Insurance up to 90 days
• Extended Warranty Insurance up to a year

GOOD

Pros & Cons

Pros

  • One of the best No annual fee cards in terms of benefits!

  • 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; pharmacy has one of the highest cashback rates 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.

  • Overall, it is one of the best no-annual-fee cards in terms of rewards, especially if you have a Tangerine Savings account.


Cons

  • No notable cons. If you have high spending, Paid cards might give you better rewards, which is expected because this is a No-Annual fee card.

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.


Tangerine Reward 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!





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