Tangerine World Mastercard® Review

Overall Ranking

4.5/5

Overview

Annual Fee

5/5

Cash Back

5/5

Premium Benefits

5/5

Income Eligibility

3/5

It’s not often that you find a World Mastercard® that has a $0 annual fee, which is why we love the Tangerine Money-Back Credit Card. Earn 2% Money-Back Rewards on your purchases in up to 3 categories of your choice, and 0.50% Money-Back Rewards on all other purchases. Plus, you get some premium benefits such as mobile device insurance, Boingo Wi-Fi, and lounge access.

Karen Stevens

About the Tangerine World Mastercard®

As our readers know, we’re big fans of the Tangerine Money-Back Credit Card – a no-fee cash back credit card that lets you earn unlimited cash back on everyday purchases. You can read our Tangerine Money-Back Credit Card review for all the nitty-gritty details about what makes it so great. But in November 2019, the Tangerine World Mastercard® came onto the scene. This Tangerine credit card has a $0 annual fee and the same flexible rewards program as the “OG” credit card. Earn 2% Money-Back Rewards on your purchases in up to 3 categories of your choice, and 0.50% Money-Back Rewards on all other purchases. But it also offers extra VIP perks for cardholders, such as mobile device insurance and Mastercard® Travel Pass Provided by DragonPass.

In this article, we look at how the Tangerine World Mastercard® compares to the original Tangerine Money-Back Credit Card and the best cash back credit cards in Canada.

Card Features and Benefits

When you sign up for the Tangerine World Mastercard®, you are prompted to select two of Tangerine’s money-back categories to earn 2% cash back. After choosing two categories, you’ll earn 2% cash back on everything charged onto your card that falls into these categories. Your rewards are automatically deposited into your account of choice every month, or you can choose to have them debited back onto your credit card. However, if you deposit your cash back rewards into a Tangerine Savings account, you’ll get a third 2% cash back category, allowing you to supercharge your spending even more.

All purchases made outside your chosen categories will earn 0.5% cash back. If that’s not enticing enough, there’s an awesome promotion right now: Special 10% extra cash back rate on the first $1,000 spent with the card on everyday purchases (max. $100 cash back) in the first two months if you're approved, apply by July 5, 2023.* There’s some easy money to make just by signing up, and it won’t cost you anything! What’s also amazing is that this is a no annual fee credit card! The rewards scheme above is what you’ll earn from using this credit card year-round, and there’s no limit on the amount of cash back rewards you can earn on your everyday purchases.

In addition to earning cash back, the Tangerine World Mastercard® cardholders also receive the following benefits:

• Zero liability - If your credit card is used by someone to make unauthorized purchases, you won’t be liable.
• Extended warranty - When you purchase items with this credit card, the manufacturer’s warranty will be doubled up to one year.
• Purchase protection - If an item you purchase with this credit card is damaged or stolen within 90 days, you’re covered.
• Priceless Cities - Available through all Mastercard® credit cards, you’ll have access to unique offers and special events through the Priceless Cities program.
• Rental car loss damage insurance - Automatic damage and theft protection for car rentals up to 31 days in length, provided you pay for the rental with this credit card.
• Mobile device insurance - Buy a cell phone, smartphone, or tablet with this credit card, and you’ll be covered up to $1,000 if the device is lost, stolen, or damaged.
• Airport lounge access - This credit card provides you with a complimentary membership to the Mastercard® Travel Pass Provided by DragonPass. Your complimentary membership gives you exclusive dining, retail and spa offers in over 650 airports worldwide, along with access to over 1,300 airport lounges at $32 USD per visit.

How to Earn Cash Back with the Tangerine World Mastercard®

The Tangerine cash back program is one of the best available in Canada. The categories you can choose from are:

• Groceries (includes any purchases made at Walmart Superstores, like clothes, electronics, pharmacy, etc.)
• Gas (includes Costco gas as a merchant under the gas category for the Tangerine credit card)
• Recurring bill payments (any payments made regularly that are automatically billed by the merchant to your Tangerine World Mastercard®, such as your monthly utility or mobile phone bill)
• Furniture
• Restaurants
• Drug store
• Home Improvement
• Entertainment (merchants classified as Sports Venues, Theatres, Amusement Parks, Carnivals, Circus, Tourist Attractions and Exhibits, Movie Theatres, Zoos, Bands, Orchestras, Aquariums)
• Hotel-Motel
• Public Transportation and Parking (includes Buses, Trains, Ferries, Taxis, and Road Tolls)

We like the Tangerine Money-Back Rewards program because it’s straightforward. There are no hoops to jump through to get your rewards, no minimum purchase requirements, no threshold or maximum spending limits, and your cash back is debited to your account every month to be spent however you see fit. There are few cash back credit cards in Canada that offer no annual fee, extra VIP benefits (like insurance), and a lucrative cash back rewards program. It’s a savvy saver’s dream come true!

Pros & Cons

How the Tangerine World Mastercard® compares

It can be a bit hard to find a fair comparison to the Tangerine World Mastercard® since it’s a premium card with a $0 annual fee. That said, there’s the SimplyCash® Card from American Express that has similar features.

SimplyCash® Card from American Express

In your first 10 months as a new SimplyCash® Card from American Express Cardmember, you can earn a $10 statement credit for each monthly billing period in which you spend $300 in purchases on your Card. This could add up to $100 in statement credits in the first 10 months. Terms and conditions apply.

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With the Tangerine World Mastercard®, you get to choose which categories have an increased earn rate. Earn 2% Money-Back Rewards on your purchases in up to 3 categories of your choice, and 0.50% Money-Back Rewards on all other purchases.

With the SimplyCash® Card from American Express, you get a higher base rate. Earn 2% cash back on eligible gas purchases in Canada, 2% cash back on eligible grocery purchases in Canada (up to $300 cash back annually), and 1.25% cash back on all other eligible purchases. Which card is better for you really depends on where you do most of your spending.

Since the Tangerine World Mastercard® is a World Mastercard®, it comes with a few premium benefits such as mobile device insurance and lounge access that aren’t offered by the SimplyCash® Card from American Express. That said, cardholders do get access to events and special offers curated for Cardmembers with American Express® Experiences that can be appealing.

Tangerine World Mastercard® vs. Tangerine Money-Back Credit Card

At first glance, it may seem like the Tangerine World Mastercard® and the Tangerine Money-Back Credit Card are very similar, but there are some differences. The biggest thing is that the Tangerine World Mastercard® has a higher minimum eligibility requirement and offers some extra VIP perks (e.g., lounge access and insurance).

Tangerine Money-Back Credit Card

Apply for a Tangerine Money-Back Credit Card by July 5th, 2023. If you're approved, you’ll earn an extra 10% back on up to $1,000 in everyday purchases made within your first 2 months.*

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You can read our Tangerine Money-Back Credit Card review for more information, but here’s how they stack up in a side-by-side comparison.

*Terms and conditions apply

The Verdict: Upgrade If You Can!

There’s no doubt that the Tangerine Money-Back Credit Card is an essential piece of plastic to have in your wallet. But you meet all the eligibility requirements, why wouldn’t you upgrade to the Tangerine World Mastercard®? It has the same amazing features – a $0 annual fee and an attractive rewards program that allows you to earn unlimited cash back — but includes extra VIP perks (like insurance and lounge access) to sweeten the pot, none of which will cost you a dime. You won’t find another credit card like this one, and all things considered, we can confidently say that the Tangerine World Mastercard® is one of the best credit cards in Canada.

*Terms and conditions apply

American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information click the Apply now link. Conditions apply.