Daniela Hanna
The Tangerine Money-Back Credit Card is a flexible no-fee cash-back Mastercard from Tangerine Bank. It lets you choose your top spending categories to earn 2% back and get unlimited rewards on everyday purchases.
Quick highlights
- 🎯 2% cash back in up to two spending categories of your choice.
- 💰 Add a third 2% category when you deposit rewards into a Tangerine Savings Account.
- 🛍️ 0.5% cash back on all other purchases.
- 💳 No annual fee and unlimited cash back earnings.
Why we like the Tangerine Money-Back Credit Card
This card gives Canadians full control over their rewards. You pick the categories that suit your lifestyle, earn 2% back on those, and get unlimited 0.5% on everything else — all without paying an annual fee.
Stand-out features
- ✅ 2% cash back in two categories of your choice.
- ✅ Earn 2% in a third category when you deposit rewards into a Tangerine Savings Account.
- ✅ Unlimited cash back with no caps.
- ✅ Simple monthly rewards payout, automatically.
Good to know
- ⚠️ Categories can be changed every 90 days.
- ⚠️ 0.5% on non-category purchases is lower than competitors’ base rates.
- ⚠️ 2.5% foreign transaction fee applies.
Pros
- No annual fee.
- Flexible 2% category selection.
- Potential for a third 2% category via Tangerine Savings Account.
- Unlimited cash back with easy monthly redemption.
- Free additional cards for family members.
Cons
- 0.5% base rate is low compared to some competitors.
- Requires Tangerine Savings Account for third 2% category.
- No travel-related insurance coverage.
Rewards program
- 💵 2% cash back in two categories of your choice.
- 🏦 Earn 2% in a third category if rewards go to a Tangerine Savings Account.
- 🛒 0.5% cash back on all other purchases.
How to maximize rewards
- Pick categories that match your top spending (e.g., groceries, gas, bills).
- Open a Tangerine Savings Account to unlock your third 2% category.
- Use the card for all purchases in your chosen categories.
- Review and adjust categories every 90 days to fit seasonal spending.
Insurance & benefits
Included
- 🛍️ Purchase Assurance — protects eligible items against loss, theft, or damage for 90 days.
- 🕒 Extended Warranty — doubles manufacturer’s warranty up to one additional year.
- 💳 Mastercard Zero Liability protection.
Not included
- ❌ No travel medical, trip cancellation, or flight delay insurance.
- ❌ No rental car collision damage waiver.
- ❌ No mobile device insurance.
Rates & fees
| Annual fee | $0 |
|---|---|
| Purchase APR | 20.95% |
| Cash advance APR | 22.95% |
| Balance transfer APR | 22.95% |
| Foreign transaction fee | 2.5% |
| Grace period | 21 days on new purchases |
Best for
- 💡 Canadians who want control over their cash-back categories.
- 🏦 Existing Tangerine clients (bonus category advantage).
- 💸 No-fee seekers looking for simple rewards on daily spending.
Where it falls short
- Base 0.5% rate is modest outside chosen categories.
- No comprehensive travel or purchase insurance suite.
- Foreign purchases incur 2.5% conversion fee.
Customer reviews
Positive feedback
“Love being able to choose my 2% categories — super flexible!”
“No fee, good cash-back, and easy to track rewards in the Tangerine app.”
Critiques
“Wish the base rate was higher than 0.5%.”
“Missing travel insurance for trips abroad.”
Community insights
Many Canadian budget-savvy users pair this card with a flat-rate or travel-reward card to optimize returns. Tangerine’s user-friendly app and monthly cash-back deposits make it a favourite among no-fee enthusiasts.
AI review (straight talk)
For everyday Canadians who want flexibility and simplicity, this is one of the best no-fee cash-back options. You choose your categories and forget about rotating promos or caps — just steady, unlimited rewards.
Alternatives & comparison
| Card | Annual Fee | Top Categories | Other Purchases | Key Perks | Best For |
|---|---|---|---|---|---|
| Tangerine Money-Back Credit Card | $0 | 2% custom categories | 0.5% | Choose categories; unlimited cash back | Custom earners |
| Rogers World Elite Mastercard® | $0 | 1.5–3% on eligible purchases | 1.5% | High flat cash-back + no forex fee | Cross-border shoppers |
| Scotia Momentum Visa Infinite* | $120 | 4% groceries, 2% gas/recurring bills | 1% | Top grocery and bill rewards | High spenders |
| MBNA Smart Cash Platinum Plus® | $0 | 2% gas & groceries | 0.5% | Auto cash-back redemption | Simple earners |
FAQ
Is there an annual fee?
No, the Tangerine Money-Back Credit Card has no annual fee.
How does the 2% cash-back system work?
You select up to two spending categories to earn 2% back. Choose a third if you have a Tangerine Savings Account. All other purchases earn 0.5%.
Can I change my categories?
Yes, you can update your chosen categories every 90 days through your Tangerine online banking or mobile app.
Does it include insurance?
It includes Purchase Assurance and Extended Warranty, but not travel coverage.
Final verdict & ratings
Our take The Tangerine Money-Back Credit Card is one of Canada’s most flexible no-fee cash-back cards, ideal for those who want to tailor their rewards to their spending habits and avoid annual costs.
| Overall | ★★★★☆ 4.2 / 5 |
|---|---|
| Rewards value | 4.3 / 5 — customizable 2% earn rate |
| Benefits & protections | 3.4 / 5 — basic insurance only |
| Fees & costs | 5.0 / 5 — no annual fee |
| Ease of approval | 4.5 / 5 — accessible for most Canadians |
