To have the most wonderful experience in the use of credit cards, people need to identify the credit card that suits them to the ground. The Tangerine Money-Back Credit Card has been a best solution for the target customers who are interested in enjoying the cash backs on the regular spending with no annual fee to worry about.
This card is not only a plain rewards card but a card with various additional tools aimed to help you manage your money. It provides one unlimited 2% cash back, and the two other categories of choice as well as 0.
This could be 2% back on groceries, up to 3% back on department store purchases, and 5% back on everything else, it’s a card that flexes to your spending habits and gives you money back automatically. But wait, there is much more to explore about why the Tangerine Money-Back Credit Card must belong in the wallet of the smart and thrifty shopper.
Main features of the Tangerine Money-Back Credit Card
It is important to know that the Tangerine Money-Back Credit Card is provided by Tangerine Bank that is also referred to as a direct bank which promotes financial products and services uniquely with the primary focus on its clients. This utility is the best for those who appreciate the absence of complicated interfaces and hidden fees, as well as sweet bonuses.
Who it is suitable for: This card benefits anyone, from the student carefully budgeting their money, to the purchasing expert aiming to get the most for their cash. Another interesting thing to consider is the cash back program, where the bank promises to return a 2% cash back, but without limits, with a choice of two categories out of groceries, gas, for example, or entertainment.
Understanding the annual fee
Another benefit on the credit cards is that they do not charge their clients extra fees for using the credit card and this is especially true for the Tangerine Money-Back Credit Card. This is good as it translates to more benefits without a need to pay additionally every year, which would tip the scale of cost to benefit in a negative way.
Deciphering credit limits
Tangerine Money-Back Credit Card has a specific credit limit for its customers; however, this credit limit is adjusted depending on several considerations so that it can accommodate the specific financial needs of a particular client or spender. The credit limit that Tangerine allows you depends on your credit history and score, monthly income, and overall creditworthiness.
Advantages of the Tangerine Money-Back Credit Card
- Unlimited 2% Cash Back: Receive Double Cash Back in any two categories of your Choice out of which few are gourmet food and C-stores, gas stations, restaurants, etc. These categories may be adjusted to fit the flow of your expenditure.
- 0.5% Cash Back on Everything Else: For all other purchases, you do not earn any points with the card company or military bank/department..
- No Annual Fee: Take advantage of all the card’s features without being charged the annual fee, thus, saving the most.
Standout advantage
Another lucrative aspect of the Tangerine Money-Back Credit Card is you get to select your two categories of choice and get 2% cash back every time you swipe your credit card. This can of tailored approach is rather unique to the credit card market and lets you get the most of your rewards following your credit card usage pattern.
Addressing potential drawbacks
- Foreign Currency Conversion Fee: A 2. 5% commission charged on all foreign currencies, this could prove expensive if a number of transactions are being made.
- High Interest Rate: The standard interest rate is 19 according to the court. Rewards such as 95% cash back can be expensive if you retain a balance.
- Balance Transfer Fee: 1%, of the amount that is transferred, is charged when within the promotional period.
Standout disadvantage
The main disadvantage of the Tangerine Money-Back Credit card is, first, the foreign currency conversion fee is at 2%. 5%. This fee is particularly beneficial for people who often travel, or for those who do a lot of business internationally, since the cost of the awards can easily be eaten up by this fee.
Eligibility criteria
Tangerine Money-Back Credit Card is easily available, but before that, some basic conditions have to be fulfilled. Canada is the country of residence and the applicant must be at least the age of majority in the province or territory they reside in.
Also, the good credit score and the regular income are required for approval. When applying to Tangerine, you have to give out your and your financial information such as proof of income and employment information.
How to apply for the Tangerine Money-Back Credit Card
Getting a Tangerine Money-Back Credit Card is as easy as pie, to apply for the credit card, follow the steps below. Regardless of which of the aforementioned options you choose to use Tangerine has made it extremely easy to apply whether through the online portal or the mobile app and others. Here’s how you can get started:
Via website
Here is a step-by-step guide on how to apply for a Tangerine Money-Back Credit Card The process is done online; access Tangerine homepage, then travel to the credit card segment. From this point, one can get the application form as the rest of the process is described on this form.
You will have to fill in your basic details and other personal/financial data, also a credit check will be conducted. The online application is simple and should only take a few minutes to fill out. After the submission of the documents, you will be informed of the decision within a short time, which ranges from a few seconds.
Through the mobile application
For those who prefer a bit more of a portable method, you can also apply for the Tangerine Money-Back Credit Card through the Tangerine Mobile Banking app. Open the application via the application store of your specific terminal, log in to the app and go to the credit card tab.
The procedure is almost the same as in the case of the online application where you have to enter your details and agree to a credit check. It is also easy to use your spare time and manage your card and rewards on the go with the app available on your smartphone.
Through the store/branch
First of all, Tangerine being a digital-first bank it does not offer a possibility to apply for a membership through its branches. All applications have to be done online or through the mobile application. Thus, this digital approach means that the application is done very quickly, securely, and conveniently from home or indeed from wherever you have internet connection.