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Tangerine World Mastercard Review 2023

The Tangerine World Mastercard® is a one-of-a-kind credit card. It offers an unlimited 2% earn rate on up to 3 major spending categories and is designed to be competitive from the start.

Also, it has no annual fees, and new cardholders can earn an extra 15% cash back worth up to $150 within the first 2 months.

Tangerine Bank is well-known for introducing innovative financial products from high-interest savings to no-fee chequing accounts and, currently, two Money-Back credit cards that make my list of the best cash back credit cards in Canada.

This review of the Tangerine World Mastercard® covers all you need to know and why you should consider adding it to your wallet.

Tangerine World Mastercard

Tangerine World Mastercard – At a Glance

  • No annual fee
  • 2% cash back rate in up to three purchase categories
  • 0.50% cash back on all other purchases
  • 1.95% balance transfer rate for six months
  • Rental car collision/loss damage insurance
  • Mobile device insurance
  • Mastercard Airport Experiences Provided by Loungekey
  • Purchase protection and extended warranty
  • Access to Boingo Wi-Fi for Mastercard

Tangerine World Mastercard® Benefits

1. Zero Annual Fees: For a card offering 2% in cash back earnings plus other perks, a $0 annual fee is highly attractive.

2. Unlimited Cash back Rewards: Earn an unlimited 2% cash back reward rate for all spending in up to three categories. The cash back categories you can choose from include grocery, gas, public transportation and parking, recurring bill payments, restaurants, drugstore, furniture, entertainment, hotel-motel, and home improvement.

On all other purchases outside of your selected categories, you earn an unlimited 0.50% in money back.

You can change your preferred 2% cash back categories at any time.

For a limited time, when you apply for this card, you earn an extra 15% cash back when you spend up to $1,000 in the first 2 months. This offer is worth $150.

3. 1.95% Balance Transfer: Easily transfer your balances from other high-interest cards to the Tangerine World Mastercard® for 6 months and save on interest fees. This offer alone puts this card on my list of the best balance transfer cards.

4. Rental Collision/Loss Damage Insurance: The card provides damage and theft protection coverage for car rentals for up to 31 consecutive days when you pay with your card.

5. Mobile Device Insurance: Enjoy protection up to $1,000 on smartphones and tablets. To be eligible for this coverage, your monthly wireless bill must be charged to your card.

6. Extended Warranty and Purchase Protection: This card doubles the original manufacturer’s warranty for up to one extra year. Also, items you purchase using your card are protected against damage or theft for up to 90 days after purchase.

7. Mastercard Airport Experiences Provided by Loungekey: Your complimentary membership gives access to exclusive offers in more than 400 airports (120 countries) and over 1,000 lounges.

8. Boingo Wi-Fi for Mastercard: Cardholders enjoy access to Boingo Wi-Fi for Mastercard at more than 1 million Wi-Fi hotspots worldwide through Boingo Wi-Fi for Mastercard Cardholders.

APPLY FOR THE TANGERINE WORLD MASTERCARD

Downsides of the Tangerine World Mastercard®

One obvious downside of this card is that it requires a minimum personal income of $60,000 (or $100,000 for a household) to qualify.

Also, there is a 3% transfer fee when you take advantage of the promotional balance transfer offer.

Is The Tangerine World Mastercard® For You?

If you are familiar with the popular Tangerine Money-Back Credit Card, then you know that the Tangerine World Mastercard® is a bit of an upgrade.

Both cards offer a standard 2% cash back earning rate for up to 3 categories of spending, a 1.95% balance transfer rate, and no annual fees.

The Tangerine World Mastercard® beats its plain-vanilla counterpart by offering additional car rental collision/loss damage insurance, mobile device insurance, Mastercard Airport Experiences, and free Wi-Fi with access to more than 1 million hotspots.

Both cards are excellent. If you do not meet the minimum personal income requirement of $60,000, the Tangerine Money-Back Card is a viable option.

The Tangerine World Mastercard® fares well compared to other popular World Mastercards in Canada.

Apply for the Tangerine World Mastercard®.

Triangle World Mastercard Review
  • Cash back rates
  • Eligibility
  • Promotional offer
  • Annual fee
  • Other perks
4.6

Summary

The Tangerine World Mastercard is one of the best cash back credit cards in Canada. This Tangerine World Mastercard review covers everything you need to know.

Pros

  • Up to 2% unlimited cash back
  • No annual fee
  • Rental car insurance
  • Low balance transfer rate
  • Mobile device insurance

Cons

  • $60,000 minimum personal income eligibility

Best Credit Offers in January 2023

Earn up to 5% cash back at over 10,000 retail locations ($25 Bonus)

Get a $25 bonus when you are approved for the Card.

No annual account fees.

Earn up to 5% unlimited cash back at 10,000+ participating stores.

Guaranteed instant approval credit card.

Get up to 5% cashback and grow your savings ($20 bonus)

Best free prepaid reloadable Mastercard plus a $20 welcome bonus.

Free budgeting app with automatic savings features.

Increase your credit score with optional credit building add-on.

Earn up to 2.00% interest on your entire balance.*

Get one of the no-fee cash back credit cards in Canada ($150 bonus)

Earn 2% unlimited cash back in up to 3 spending categories.

Get a $150 welcome bonus after spending $1,000 in the first two months.

1.95% low-rate balance transfer, airport lounge access, and insurance benefits.

No annual fees to use the card and cashback is paid out monthly.

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Author

Gravatar for Enoch Omololu, MSc (Econ)
Enoch Omololu, MSc (Econ)

Enoch Omololu is a personal finance expert and a veterinarian. He has a master’s degree in Finance and Investment Management from the University of Aberdeen Business School (Scotland) and has completed several courses and certificates in finance, including the Canadian Securities Course. He also has an MSc. in Agricultural Economics from the University of Manitoba and a Doctor of Veterinary Medicine degree from the University of Ibadan. Enoch is passionate about helping others win with their finances and has been writing about money matters for over a decade. He has been featured or quoted in The Globe and Mail, Winnipeg Free Press, Wealthsimple, CBC News, Financial Post, Toronto Star, CTV News, Canadian Securities Exchange, Credit Canada, National Post, and many other personal finance publications. You can learn more about him on the About Page.

His top investment tools include Wealthsimple and Questrade. He earns cash back on purchases using KOHO, monitors his credit score for free using Borrowell, and earns interest on savings through EQ Bank.

2 thoughts on “Tangerine World Mastercard Review 2023”

  1. Gravatar for Roger F.

    I’m retired and did not meet the $100K family income requirements 2 months ago when the upgrade offer was first made. Now, early February 2020, they have changed my requirement to “average $3,000- monthly spend on the credit card”, which we do meet, mostly with the 2% cash back purchases.
    I don’t know if every Tangerine card holder will get this offer.

    • Gravatar for Enoch Omololu

      @Roger: That’s interesting…first time I’m hearing of an alternative way to qualify for the card. It would be interesting to hear from others and whether their experiences differ.

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  • 15% cashback on $1,000 spent in first 2 months ($150 value).*
  • Earn 2% unlimited cashback in 2 categories and 0.50% back on everything else.
  • No annual fees!
*Limited time offer. Terms and conditions apply.
Best No Annual Fee Cash Back Credit Card
Best No Annual Fee Cash Back Card
Get 15% cashback on up to $1,000 spent in first 2 months ($150 value).* No annual fees!
*Limited time offer. Terms and conditions apply.