Simplii Financial™ Cash Back Visa* Card

Simplii Financial™ Cash Back Visa* Card

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Tangerine Money-Back Credit Card

Tangerine Money-Back Credit Card

Apply Now

Simplii Financial™ Cash Back Visa* Card vs Tangerine Money-Back Credit Card: Which one is better?


Simplii Financial™ Cash Back Visa* Card

Simplii Financial™ Cash Back Visa* Card

4.4


RECOMMENDED CREDIT SCORE*

300
Poor
560
Fair
660
Good
725
Very Good
760
Excellent

Tangerine Money-Back Credit Card

Tangerine Money-Back Credit Card

4


RECOMMENDED CREDIT SCORE

300
Poor
560
Fair
660
Good
725
Very Good
760
Excellent

Rewards Breakdown

Annual Rewards

$346.79


First Year Bonus

$84.95


Annual Fee

$0


First Year Value

$431.74

$346.79 in years after

Based on $2,000/mo average spending. Calculate your rewards.

Rewards Breakdown

Annual Rewards

$278.6


First Year Bonus

$100


Annual Fee

$0


First Year Value

$378.6

$278.6 in years after

Based on $2,000/mo average spending and assuming you have a Tangerine Savings account. Calculate your rewards.

Insurance Included*

  • extended warranty

    Extended Warranty

    Up to 1 year
  • purchase protection

    Purchase Protection

    Up to 90 days

Insurance Included

  • extended warranty

    Extended Warranty

    Up to a year
  • purchase protection

    Purchase Protection

    90 days

Extra Benefits*

N/A

Extra Benefits

N/A

Interest Rates*

Purchase:

20.99%1

Cash Advance:

22.99%1

Balance Transfer:

22.99%1

Interest Rates

Purchase:

20.95%2

Cash Advance:

22.95%2

Balance Transfer:

22.95% (1.95% first 6 months)2

Annual Fee*

$0

Annual Fee

$0

Income Required*

Min Personal Income:

$15,000

Min Household Income:

$15,000

Income Required

Min Personal Income:

N/A

Min Household Income:

N/A

Welcome Bonus*

Earn up to 10% cash back† for your first 3 months up to $1,000 eligible spend.

Welcome Bonus

In the first 2 months, get a bonus 10% cash back up to $100

Rewards Rate*

  • 4% cash back on eligible restaurant, bar, and coffee shop purchases up to $5,000 spent per year†
  • 1.5% cash back on gas, groceries, drugstore, and pre-authorized payments up to $15,000 spent per year†
  • 0.5% cashback on all other purchases†

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.

Is this card worth it?

If you dine out a lot and don't want to pay an annual fee for your credit card, the Simplii Financial™ Cash Back Visa* Card will undoubtedly be one of your best friends with its 4% cashback. Additionally, the card offers a decent cashback rate (1.5%) for gas, pharmacy, and groceries, making it one of the best no-annual-fee cashback credit cards in Canada. However, there are limits on how much you can earn in these categories. Therefore, you need to be careful not to exceed those limits; otherwise, your cashback rate will drop to 0.5% after those spending limits are reached.

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.

Pros

  • Highest cashback rate on restaurant purchases in Canada!
  • Decent cashback rate on high spent categories such as groceries and gas.
  • No annual fee for a card with great rewards.

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.

Cons

  • No insurance and benefits other than the standard purchase protection and extended warranty.
  • Cap on the rewards that can be earned on each category.

Cons

  • Insurance coverage is the most basic.
  • Very low cashback rate on the other categories not selected.

Legal


*This offer is not available for residents of Quebec. Check here for full details and current product information.
1 “Purchase” means any Transaction other than a Cash Advance, Balance Transfer or Convenience Cheque. “Cash” means a Cash Advance, Balance Transfer and Convenience Cheque. Interest rates may change from time to time.
2 The annual interest rate on Purchases is 20.95% and Cash Advances (including Balance Transfers) is 22.95%. Rates are subject to change. If you don't make 2 consecutive monthly Minimum Payments, or at any time thereafter, an interest rate of 25.95% will apply to your Account on Purchases and 27.95% on Cash Advances (including Balance Transfers).

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