About Tangerine Mastercard cards
Tangerine offers two credit cards that process payments using the Mastercard network:
Tangerine World Mastercard — a no-fee credit card with unlimited cash back earning opportunities, exclusive privileges from Mastercard, and extensive insurance coverage
Tangerine Money-Back — a no-fee credit card with unlimited cash back earning opportunities with basic insurance coverages included
Tangerine Mastercard cards features
Both a Tangerine World Mastercard and Tangerine Money-Back credit cards feature a 19.95% interest rate on purchases and cash advances and a zero annual fee. Issuance of additional cards for authorized users is free of charge.
With these credit cards, you can earn unlimited cash back for your everyday purchases. Purchases in two categories of your choice will bring you 2% Money-Back Rewards, and all other purchases will bring you 0.50% Money-Back Rewards. Upon depositing your Money-Back Rewards into your Tangerine Savings Account, you will get a third 2% Money-Back Category.
What sets a Tangerine World Mastercard credit card is exclusive privileges and benefits from Mastercard, such as:
Free Wi-Fi at Boingo hotspots
Mastercard Travel Rewards cash back offers when shopping outside of Canada
Access to a range of everyday digital services available through on-demand apps and subscription services
Membership in Mastercard Travel Pass provided by DragonPass that grants access to airport lounges (present your membership with the Mastercard Travel Pass app)
Tangerine Mastercard credit cards have the newly added Braille Card Identifier feature, which means you can identify and orient your Tangerine Credit Card by touch using the Braille letter C.
A foreign currency conversion fee with these cards is 2.50%.
Tangerine World Mastercard and Tangerine Money-Back credit cards provide purchase assurance and extended warranty insurance coverages.
Purchase assurance includes coverage for lost, stolen, or damaged items purchased with your credit card, while extended warranty insurance doubles the original manufacturer’s warranty to a maximum of one year. A Tangerine World Mastercard also provided rental car collision or loss damage insurance and mobile device insurance.
Tangerine Mastercard credit cards support contactless payment through eligible mobile wallets — Apple Pay, Google Pay, and Samsung Pay.
Pros and cons
Let’s outline the key benefits of Tangerine Mastercard credit cards:
A zero annual fee
Free issuance of additional cards
Money-Back earning opportunities
Two 2% Money-Back purchase categories, with the third one added upon depositing your Money-Back Rewards into your Tangerine Savings Account
Contactless payment available with eligible mobile wallets
Purchase assurance and extended warranty insurance coverages included
Additional insurance coverages included in a Tangerine World Mastercard
Exclusive privileges from Mastercard included in a Tangerine World Mastercard
Mastercard Zero Liability
Still, Tangerine Mastercard credit cards have certain drawbacks:
Additional fees to be aware of (a balance transfer fee, foreign currency conversion fee, dishonored payment fee, over-limit fee, and more)
Minimum annual income requirements to apply
How to apply for a Tangerine Mastercard credit card
You can apply for a Mastercard credit card online. To proceed, click the “Apply Now” button next to its description. If you are a Tangerine client already, you can save time on your application by signing in to it. If not, fill out the form with the following details:
Your email
Your PIN (created in this step)
Orange Key or promo code (optional)
Your title
Your first name
Your last name
Your date of birth
Your social insurance number
Your primary phone number
Your employment status
Industry
Your employer’s name
Your address
Once you do, agree to the terms and conditions and click the “Submit” button to complete your application.
To qualify for a Tangerine World Mastercard, you must have a gross annual income of $60,000, a gross household income of $100,000, or total balances in savings and investment funds accounts of $250,000. When applying for a Tangerine Money-Back credit card, a gross annual income of $12,000 will be sufficient.