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Tangerine World Mastercard Review 2024

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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 10% cash back worth up to $100 within the first two 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 Overview

Tangerine World Mastercard

Excellent no-fee cash back card with travel perks

Annual fee: $0

Rewards: Earn up to 2% unlimited cash back in 2-3 spending categories and 0.50% on all other purchases.

Welcome offer: Get an additional 10% cash back valued at $100 in the first 2 months.

Interest rates: 19.95% for purchases, balance transfers, and cash advances.

Minimum income requirement: $12,000

Recommended credit score:
660
900

Fair to Good

Tangerine Cash Back Credit Card

On Tangerine’s website

  • No annual fee.
  • Unlimited 2% cash back in two spending categories. Get an extra 2% cash back category when you deposit cash back earned in a free Tangerine savings account.
  • Unlimited 0.50% cash back on all other purchases.
  • Cash back earned is paid out monthly.
  • Complimentary Mastercard® Travel Pass Provided By DragonPass membership with access to over 1,300 airport lounges at $32 USD per visit.
  • Rental car and mobile device insurance are included.
  • Access to over 1 million Wi-Fi hotspots worldwide through Boingo Wi-Fi
  • 1.95% promotional balance transfer for first 6 months; 3% balance transfer fee applies ($5 minimum).
  • Purchase assurance to cover loss, theft or damage of new items purchased using the card for up to 90 days.
  • Compatible with Apple Pay, Google Pay, and Samsung Pay.
  • Extended warranty for up to one extra year.

No annual fee

Easy access to airport VIP lounges

Car rental and mobile device coverage

High cash back rates with unlimited earning potential

Lacks comprehensive travel benefits

The Tangerine World Mastercard offers premium perks without charging an annual fee. Its competitive cash back earn rate makes it worthwhile for any wallet, and the mobile device and car rental coverage are solid benefits to have up your sleeve.

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 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 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.

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.

Tangerine World Mastercard vs Tangerine Money-Back Credit Card

Here’s a detailed comparison of both cards.

Tangerine Money-Back Credit Card

Best no-fee cash back credit card

Annual fee: $0

Rewards: Earn up to 2% unlimited cash back in up to 3 spending categories and 0.50% on all other purchases.

Welcome offer: Get an extra 10% cash back on up to $1,000 in spending in the first 2 months ($100 value).

Interest rates: 19.95% for purchases, balance transfers, and cash advances.

Minimum income requirement: $12,000

Recommended credit score:
600
900

Fair to Good

Tangerine Cash Back Credit Card

On Tangerine’s website

  • No annual fee.
  • Unlimited 2% cash back in two spending categories. Get an extra 2% cash back spending category when you deposit your rewards in a free Tangerine savings account.
  • Unlimited 0.50% cash back on all other purchases.
  • Cash back earned is paid out monthly.
  • 1.95% promotional balance transfer for first 6 months; 3% balance transfer fee applies ($5 minimum).
  • Purchase assurance to cover loss, theft or damage of new items purchased using the card for up to 90 days.
  • Works with Apple Pay, Google Pay, and Samsung Pay.
  • Extended warranty for up to one extra year.

No annual fee

High cash back rates

Low-income requirement

Cash back paid monthly

Low-interest balance transfer

No travel insurance coverage

3% balance transfer fee

The Tangerine Money-Back Credit Card is one of the best cash back credit cards in Canada. It’s great for students and those who have a limited credit history. Cardholders can also enjoy no-fee chequing and a high interest savings account.

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.

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

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No monthly fees and up to 15% cashback on your first-time purchases.

Stop paying monthly fees with a free chequing account + $400 bonus

Get a $400 cash bonus when you set up a qualifying direct deposit.

Unlimited debits, online bill payments and Interac e-Transfer transactions.

No monthly or annual account fees.

Earn a high interest rate on your savings (6.00% interest rate offer).

Author

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

Enoch Omololu, personal finance expert, author, and founder of Savvy New Canadians, has written about money matters for over 10 years. Enoch has an MSc (Econ) degree in Finance and Investment Management from the University of Aberdeen Business School and has completed the Canadian Securities Course. His expertise has been highlighted in major publications like Forbes, Globe and Mail, Business Insider, CBC News, Toronto Star, Financial Post, CTV News, TD Direct Investing, Canadian Securities Exchange, and many others. Enoch is passionate about helping others win with their finances and recently created a practical investing course for beginners. You can read his full author bio.

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2 thoughts on “Tangerine World Mastercard Review 2024”

  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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