My Tangerine Money-Back Credit Card review

The Tangerine Money-Back Credit Card is easily the one I reach for most in my wallet.

This little orange card has been my go-to ever since it arrived in October 2018. I use it almost exclusively to pay for everything from daily living expenses, like groceries and gas, to bigger items like hotel stays and electronics.

This credit card has treated me well. For my Tangerine Money-Back Credit Card review, I’m sharing what I like most about it, what areas could be improved and my overall take.

(Disclaimer: not sponsored. These are my personal reflections based on my experience using this card. I will share a code later in this post; if you sign up with it, I am eligible to receive a small commission at no cost to you. This will be clearly marked)

My Tangerine Money-Back Credit Card

review: the good

There are a lot of things I like about the Tangerine Money-Back Credit Card.

• The cash back category system

A key feature of the Tangerine Money-Back Credit Card is the ability to select certain categories where you can earn extra cash back.

The jump is significant – from 0.5 per cent to 2 per cent. You get two categories automatically and can get a third if you open a free savings account with Tangerine.

You also have the option to swap your categories. The site lets you know when you are eligible to do this and when it will take effect.

• Options for receiving cash back

You can have your cash back applied against your credit card bill, or, if you sign up for a free Tangerine savings account, it can be sent to that account.

• Cash back for all purchased

Any transaction outside your two per cent categories earns 0.5 per cent. As a result, combined with the two per cent categories, I earn on average between $25-$30 a month.

• No annual fee

• No caps on cash back earnings

• Purchase assurance and extended warranty

Purchase assurance, also known as purchase protection, protects items against loss, theft, damage, and even price drops. Meanwhile, extended warranty adds an extra year of warranty to purchases made with the card.

• Accepted worldwide

The Bad: Or, my totally minor non-issues with the Tangerine Money-Back Credit Card

My issues with this card are very minor.

• Processing time

The time it takes for a payment to show up on the account is a huge annoyance for me. Because I pay this card through our RBC account, it takes up to five days for it to credit to the account.

I know this is normal, but after years of only using a card with my main bank, it’s hard to get used to this!

• Low cash back on purchases outside the categories

While I am happy to have cash back for all purchases, 0.5 per cent is low. That said, cash back is cash back at the end of the day. Can’t complain too much.

• Higher interest rate

The interest rate on this card is 19.95 per cent. I would have preferred something closer to 15 per cent. Granted, I have never paid a single cent of interest on a credit card (due to the way I use them) so this is not a big concern for me, but I think it is worth mentioning.

• No sign-up bonus

At least, there wasn’t one when I signed up.

My overall take on the Tangerine Money-Back Credit Card

The Tangerine Money-Back Credit Card is not the flashiest card on the market, but it gives me exactly what I was looking for in a credit card. I find it’s especially effective when paired with my favourite rewards program of all time, PC Optimum. I still use my RBC Visa sometimes, but this credit card is my favourite.

Interesting in checking out the Tangerine Money-Back Credit Card? One thing Tangerine offers is a Refer-a-Friend program. This is done through what they call Orange Keys.

My key is 5434945S1. If you decide you’d like to open an account and use my Orange Key, I’ll receive a small commission. I only share about products I actually use and love – and my Tangerine account is certainly one of those things.

Final Thoughts

Credit cards aren’t for everyone, but we have found a way to make them work for us. The Tangerine Money-Back Credit Card has become the go-to card in our budgeting system.

Do you have a favourite credit card?

Photo by Shopify Partners from Burst