Tangerine World Mastercard Review

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by Enoch Omololu

Updated

Advertiser Disclosure

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

Also, it has no annual fees and new cardholders can earn an extra 10% cash back worth up to $100 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 6 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.

When you apply for this card by October 4, 2021, you earn an extra 10% cash back when you spend up to $1,000 in the first 2 months. This offer is worth $100.

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 you 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 Card

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

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 an 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 when compared with some of the other popular World Mastercards in Canada.

Apply for the Tangerine World Mastercard®.

Triangle World Mastercard Review
5

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 this month

One of the best no-fee credit cards in Canada.

Get 2% unlimited cash back on up to 3 purchase categories.

Get 0.5% unlimited cash back on all other purchases.

1.95% balance transfer offer for 6 months.

Free prepaid reloadable Visa card.

Access to a portion of your paycheque 3 days early.

Free budgeting app with automatic savings features.

Credit building available with a subscription.

1.20% savings interest on every dollar balance.*

Get the best rates from multiple lenders.

Borrow up to $50,000 regardless of your credit score.

Pre-approvals offered in as fast as 5 minutes.

Low interest rates starting at 9.9% (or 1.90% for auto loans).

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Author

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Enoch Omololu

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 has a passion for helping others win with their personal finances and has been writing about money matters for over a decade. His writing has been featured or quoted in the Toronto Star, The Globe and Mail, MSN Money, Financial Post, Winnipeg Free Press, CPA Canada, Credit Canada, Wealthsimple, and many other personal finance publications.

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”

  1. 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.

    Reply
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