Tangerine Money-Back Credit Card

Tangerine Money-Back Credit Card

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BMO CashBack® World Elite® Mastercard®

BMO CashBack® World Elite® Mastercard®

Apply Now

Tangerine Money-Back Credit Card vs BMO CashBack® World Elite® Mastercard®: Which one is better?


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

BMO CashBack® World Elite® Mastercard®

BMO CashBack® World Elite® Mastercard®

4.2


RECOMMENDED CREDIT SCORE

300
Poor
560
Fair
660
Good
725
Very Good
760
Excellent

Finly Rebate

N/A

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.

Rewards Breakdown

Annual Rewards

$500.78


First Year Bonus

$190


Annual Fee

$120


First Year Value

$690.78

$380.78 in years after

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

Insurance Included

  • extended warranty

    Extended Warranty

    Up to a year
  • purchase protection

    Purchase Protection

    90 days

Insurance Included

  • extended warranty

    Extended Warranty

    Up to a year
  • purchase protection

    Purchase Protection

    90 days

  • lost baggage

    Lost or Stolen Baggage

    $500/person, $1000 maximum
  • hourglass timer

    Baggage Delay

    $500/person, $1000 maximum After 6 hours
  • car insurance

    Car Rental Damage & Theft

    $65,000 up to 48 days
  • heart lock

    Travel Accident

    $500,000
  • burglar

    Hotel Burglary Insurance

    $1000
  • travel accident medical

    Emergency Out of province Medical

    $5M up to 8 days per covered person
  • hourglass timer

    Flight Delay

    $500 After 4 hours delay

Extra Benefits

N/A

Extra Benefits

  • car rental

    Car Rental Discount

    25% off base rate of participating National Car Rental and Alamo Rent a Car
  • alcohol cheers

    Airport Lounge - Dragon Pass

    Pass only, complimentary visits not included
  • gas station

    Gas Discount

    Get up to seven cents off per litre on Shell® fuel
  • tire

    Roadside Assistance

    Includes free battery boosts, flat-tire change, lockout service and towing
  • discount

    Hotel Booking Discount

    Save up to 7% on your Booking.com prepaid hotel or property rental bookings
  • wifi signal

    Boingo Wi-Fi hotspot

Interest Rates

Purchase:

20.95%1

Cash Advance:

22.95%1

Balance Transfer:

22.95% (1.95% first 6 months)1

Interest Rates

Purchase:

20.99%

Cash Advance:

23.99%

Annual Fee

$0

Annual Fee

$120

$0

First Year Waived

Income Required

Min Personal Income:

N/A

Min Household Income:

N/A

Income Required

Min Personal Income:

$80,000

Min Household Income:

$150,000

Welcome Bonus

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

Welcome Bonus

Get up to 10% cash back in your first 3 months with an incremental cashback value of $200

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.

Rewards Rate

  • 5% cashback on groceries (maximum $25 per statement)
  • 4% cashback on daily transit (maximum $12 per statement)
  • 3% cashback on gas (maximum $9 per statement)
  • 2% cashback on recurring payments (maximum $10 per statement)
  • 1% cashback on all other credit card purchases.

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.

Is this card worth it?

If you're seeking a cashback credit card, the BMO CashBack® World Elite® Mastercard® stands out for its excellent balance between rewards and benefits. It offers a robust rewards program and a comprehensive benefits list, making it a solid choice. The high first-year value is enhanced by the annual fee waiver, and those with a BMO Premium Chequing Account can enjoy continued fee waivers. While it's highly ranked for rewards alone, it may not be the absolute top choice if benefits are less important to you.

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.

Pros

  • Offers one of the highest cashbacks on groceries and gas, two of the most frequently spent categories, compared to other credit cards in Canada.
  • Includes roadside assistance, a rare but valuable benefit for people on the road.
  • Provides a comprehensive list of insurance coverage and benefits.
  • High first-year value.

Cons

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

Cons

  • Does not include restaurant purchases as a reward category, which is one of the most important spending categories.

Legal


1 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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