No annual fee
Earn cash back on categories of your choosing with no cap
Enticing welcome offer
No travel insurance
No extra perks
How the Tangerine Money-Back Credit Card Compares
Although there are a lot of no annual fee cash back cards on the market, the Tangerine Money-Back Credit Card is top of the class. The closest competition is arguably the SimplyCash™ Card from American Express. Both have no annual fee, but the earn rate is a touch different.
With Tangerine’s card, you can choose up to three categories where you’ll earn 2% cash back. All other purchases earn you 0.5% cash back. The SimplyCash™ Card from American Express gives you a straight 1.25% in cash back on all purchases.
Both have similar welcome bonuses, but Amex comes out just a touch ahead here since it has a higher cap of cash back you can earn. You’ll also get purchase assurance and extended warranty with both cards.
If you do most of your spending in three main categories, then go for the Tangerine card. However, if you think your overall spending is more beneficial with the 1.25% earned through the American Express Card, then go for that one.
|Tangerine Money-Back Credit Card||SimplyCashTM Card from American Express|
|Welcome offer||Apply by May 31, 2022 and earn an extra 10% back (up to $100) when you spend up to $1,000 in everyday purchases within your first 2 months.*||New SimplyCashTM Card from American Express Cardmembers can earn 4% cash back on purchases (up to $200 cash back) for the first 6 months of Cardmembership (terms and conditions apply).|
|Increased earn rate||2% on up to 3 categories||None|
|Regular earn rate||0.5%||1.25%|
|Extra perks||Balance transfer option, purchases assurance, extended warranty||Experiences, offers, travel accident, buyer’s assurance, purchase protection|
|Visit Site||Visit Site|
The Tangerine Money-Back Credit card vs. the Tangerine World Mastercard®
While the two cards are quite similar in terms of earn rate, the Tangerine World Mastercard® offers some attractive additional perks, such as rental car collision damage insurance, mobile device insurance, and airport lounge access.
To upgrade you’ll have to meet the annual income threshold of $60,000 (individual) or $100,000 (household) or have total balances of $250,000 or more in Tangerine Savings Account(s) and/or Investment Fund Account(s).
Since there’s no fee to upgrade, it makes sense to get the Tangerine World Mastercard® if you’re eligible! Read our full review of the Tangerine World Mastercard® to learn more.
The Verdict: Is the Tangerine Money-Back Credit Card Worth It?
The Tangerine Money-Back credit card costs you nothing, earns you money on all spends with no caps, and automatically reimburses you. All things considered, this card is clearly a winner, and you’re actually earning a few bucks by putting this plastic in your wallet.
*Terms and Conditions apply