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Mr. Loonie
Tangerine Money-Back Credit Card

Tangerine Money-Back Credit Card

8.5
Excellent
Expert Score · 21 reviews How we score

Best for: People who want to pick their own 2% cash back categories with no annual fee

Your spending a month
What’s in each?
Light:
Groceries $400, restaurants $100, gas $100, recurring bills $100, everything else (base rate) $250, foreign currency $50
Typical:
Groceries $800, restaurants $250, gas $250, recurring bills $250, travel $150, everything else (base rate) $650, foreign currency $150
Big:
Groceries $1,200, restaurants $500, gas $400, recurring bills $400, travel $500, everything else (base rate) $1,600, foreign currency $400
Yours:
Your own amounts, saved on this device only
Every year
$270

Ranked #112 of 176 for year one. See the list

See how we worked it out
Balance transfers
1.95% for 6 months
1% fee, then 22.95%
Annual fee
None
Apply now on Tangerine’s site (opens in a new tab)
Needs $12,000 personal income
We may get paid if you apply through this link. It never changes our score.

Have this card?

Details from Tangerine’s site. Banks can update terms at any time, so give them a quick look before you apply. Source

Is it for me? What you’d earn Can I get it? Fees Similar cards
2 quick questions

Is it for me?

Is your personal income $12,000 or more?

Do you pay your card off in full most months?

Answer the 2 questions to see if it fits.

From the numbers

The good and the bad

Stands out

  • Good: 1.95% on moved balances for 6 months A 1% fee to move them.
  • Good: No annual fee It costs nothing to keep.

Watch for

  • Watch for: 22.95% after the 6 months Whatever you haven’t paid off by then is charged the regular rate.
  • Watch for: 2.5% on foreign purchases Use a no foreign fee card when you travel.

Worked out from the card’s rates and fees.

Show your work

What you’d earn

With typical spending of $2,500 a month.

  • Groceries $48
    0.5% back $800 a month · $48 a year
  • Restaurants $15
    0.5% back $250 a month · $15 a year
  • Gas $15
    0.5% back $250 a month · $15 a year
  • Recurring bills $15
    0.5% back $250 a month · $15 a year
  • Travel $9
    0.5% back $150 a month · $9 a year
  • Everything else $39
    0.5% back $650 a month · $39 a year
  • Foreign currency $9
    0.5% back $150 a month · $9 a year
For you Year one Later years
Cash back you earn $150 $150
Annual fee $0 $0
Foreign currency fee2.5% on $1,800 a year −$45 −$45
Rental car damage cover1 rental of 3 days at $35 a day $105 $105
Phone insurance$60 a year $60 $60
Total $270 $270

Rows are rounded to the dollar. Insurance counts at what the same cover costs on its own, and only pays when you charge the trip, rental or phone to the card.

What counts in each category
Everything else (base rate)
0.5% back

Earn 2% cash back in two categories of your choice

Categories you can choose from include:

  • Grocery
  • Restaurants
  • Gas
  • Drug Store
  • Entertainment
  • Furniture
  • Hotel-Motel
  • Recurring Bill Payments
  • Home Improvement
  • Public Transportation and Parking

Have your Money-Back Rewards deposited into a Tangerine Savings Account, and get a 3rd 2% Money-Back Category.

These are example budgets to compare cards side by side, not averages. Your own spending will give a different number.

Checked on Nov 8, 2026. Source

Before you apply

Can I get it?

  • Age 18 or older 19 or older in BC, NB, NL, NS and the territories
  • Where you live Canada
  • Personal income $12,000 or more Issuer says
  • Credit score No minimum on record Most banks don’t publish one, and we don’t guess.

Checked on Nov 8, 2026. Source

Mr. Loonie’s tip Each application shows up on your credit file. Leave a few months between card applications.

What critics say

Other reviewers on this card

8.5
Excellent
Expert Score How we score
  • Frugal Flyer (opens in a new tab) May 2026

    “With their flexible and changeable 2% cash back categories, both the Tangerine Money-Back World Mastercard and Tangerine Money-Back Mastercard are solid options for a daily driver credit card in Canada. They are particularly useful if you have spending patterns that fluctuate in a predictable way from month to month, or if you have a large amount of spending in categories that aren’t well covered by available credit card options in Canada such as groceries, restaurants, or travel.”

  • Money.ca (opens in a new tab) Mar 2025
    6

    “The Tangerine Money-Back Credit Card is by far the most flexible among no annual fee credit cards, and the low minimum income requirement makes it a great option for young adults and those just starting out in their careers. I do like that you earn cash back on all purchases and get to choose the highest-earning categories to best suit your lifestyle, but the earn rates nonetheless can’t compete with the top cash back cards that charge annual fees in the $100+ range.”

  • WalletBliss (opens in a new tab) Jan 2024
    9

    “The Tangerine Money-Back Credit Card is an above-average cashback credit card in Canada. While you can’t make the wrong choice with it, it’s essential to compare it with other cashback credit cards before making a final decision. Overall, this Tangerine Money-Back Credit Card review is positive. The credit card is suitable for Canadians looking for a no-fee cash back card with decent cash back earning on their purchases.”

  • Rewards Canada (opens in a new tab) Dec 2023

    “The Tangerine Money-Back Credit Card is a great option for anyone looking for a basic no fee card with the ability to provide great cash back rewards. The 2% cash back on two to three spending categories is what has made this card so popular and made it a keeper in many people's wallets.”

  • NerdWallet (opens in a new tab) Mar 2023
    9

    “The Tangerine Money-Back Credit Card is a cash-back credit card that does not charge an annual fee. Cardholders earn cash back on each eligible dollar spent with accelerated rates on up to three money-back categories.”

  • Money We Have (opens in a new tab) Oct 2022

    “Overall my Tangerine Money-Back Credit Card review is positive. The 2% cash back is one of the highest rates of return for a no fee card, and the ability to pick your merchant categories is obviously a huge advantage since you’re customizing the benefits to your advantage. This is also a great card if you’re in school, as it’s one of the best student credit cards. To qualify for this card, you must be a permanent resident of Canada, the age of majority in the province or territory in which you reside, and have a good credit score.”

What cardholders say

Ratings from people with this card

No ratings yet. If you have this card, tell others what it’s like.

Applied and weren’t approved?

Insurance and perks

What comes with it

  • Extended warranty Included
  • Purchase protection Included
  • Mobile device $1,000 per device
  • Car rental damage Included
  • Mastercard Priceless Cities
  • Exclusive Experiences and Offersclusive Experiences and Offers
  • Mobile wallets Apple Pay
Coverage limits

We haven’t recorded the coverage limits for this card yet. Read Tangerine’s insurance certificate before you count on any coverage.

Not included

Not listed for this card: travel medical, trip cancellation, trip interruption, flight delay and lost baggage.

Fees and interest

What it costs

Annual fee
None
Purchase interest
20.95%
Cash advance interest
22.95%
Foreign currency fee
2.5%
All fees and rates

Fees

Extra cards
None
Cash advance fee
$3.50, $5.00 fee for cash advances outside of Canada.
Balance transfer fee
3%, Minimum of $5 ; 1% fee on intro. balance rate
Over-limit fee
$25
Late payment fee
None
Source
Issuer page

Interest rates

Balance transfer interest
22.95%
Intro rate: balance transfers
1.95% for 6 months, fee 1%
Source
Issuer page

Read the card terms and conditions for the full terms.

Checked on Nov 8, 2026. Source

Before you decide

Similar cards for the same spending

With typical spending. This card: $270 year one, $270 every year after.

See all cards ranked for your spending

Some of these links pay us when you apply, at no extra cost to you. Most don’t, and pay never changes our score. How we make money

Common questions

Questions people ask

What is the annual fee on the Tangerine Money-Back Credit Card?

There is no annual fee.

What income do I need?

Tangerine asks for $12,000 in personal income.

Does it charge a foreign transaction fee?

Yes, 2.5% on purchases in other currencies.

What is the interest rate?

20.95% on purchases. Cash advances are 22.95%.

Does it have a balance transfer offer?

Yes, 1.95% for 6 months. The transfer fee is 1%. After that, the rate is 22.95%.

Does it include insurance?

It lists extended warranty and purchase protection. Read the insurance certificate for the limits.

Rates, fees and offers come from the card issuers and change often. We work to keep this page accurate and current, but it may contain mistakes, so always check the issuer’s terms before you apply. This page is general information and isn’t financial advice.

Spot something wrong? We’ll check it with the bank. Suggest a correction

Card names, logos and trademarks belong to their owners. No issuer wrote, paid for or approved what we say about this card. Our scores and opinions are our own.

Mr. Loonie is independent and supported by affiliate links. We may earn a commission when you apply through some links, at no cost to you. How we make money

$270
a year for you
Apply now on Tangerine’s site (opens in a new tab)
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