Rewards and points are great, but cash is king. The Tangerine Money-Back Credit Card might be an excellent option when it comes to a credit card that offers cashback perks. The no-fee credit card offers cardholders a competitive cashback program on two category purchases and a low income requirement.  The card offers unlimited money-back on every purchase you make – year-round! And there is no annual fee.

Thus, is it worthwhile to add this card to your wallet? Find out in this Tangerine Money Back Credit Card review.

Tangerine Money-Back Credit Card At a Glance

• Unlimited 2% cashback on two spending categories.
• 15% cashback on everyday purchases up to $1,000 within the first two months of enrollment (worth $150).
• Purchases and cash advances have an interest rate of 19.5%.
• No annual fee.
• The minimum income requirement is $12,000 per year.

Tangerine Money-Back Credit Card Benefits

1. Unlimited cashback on purchases

Tangerine Cash-Back Credit Card offers unlimited cash back on purchases. This is, without doubt one of its best features. While many cashback credit cards like the MBNA Rewards Platinum Plus Mastercard cap your spending, the Tangerine credit card pays unlimited cashback on purchases.

2. Redeem cashback automatically each month 

Your Tangerine Cashback dollars are applied either to your credit card balance or directly to your Tangerine Savings Account every month.

3. Purchase Assurance

You will have peace of mind when you buy with the card. You may receive up to $60,000-lifetime warranty coverage and purchase assurance. Tangerine’s assurance policy covers loss, theft, or damage for 90 days after purchase.
An extended warranty doubles the period of repair services, to a maximum of one additional year, when the original manufacturer’s warranty expires.

4. Low-income requirements

Tangerine Credit Card only requires an income of $12,000 to qualify, so it is accessible to most.

5. No annual fee

Since Tangerine has no annual fee, it is a low-risk credit card. There is no fee involved with this credit card. It is ideal to have this card, even if you don’t use it for all your daily purchases.

The downsides of the Tangerine Money-Back Credit Card

The major downside to this card is its low money-back rewards on other purchases. 0.5% on every other purchase is a bit low.

Requirements for Tangerine Credit Cards

To be eligible for the Tangerine Credit Card, you’ll need to have a minimum annual income of $12,000 and a credit score above 650. Borrowell offers free credit reports and credit score checks. Before applying for this (or any) credit card, make sure you build and increase your credit score if it’s below 650.

In conclusion

It’s rare to find a credit card that offers many benefits without an annual fee. However, Tangerine continues to offer low-cost, innovative, and exciting products for those interested in digital technology. Tracking your spending is a breeze, thanks to the card’s technology. It offers competitive cashback offers as well as the option to save them. Though it has its weaknesses, the Tangerine card is one of the best no-fee cash back cards in Canada.