In today’s article, I really wanted to share a Tangerine Cash Back Credit Card Review as I’m a user since March 2016, I can share a lot of things about it.

Tangerine Cash Back Credit Card Review

Tangerine is a very popular name in the Canadian Credit Card Market since the beginning of 2016.

For those who are looking for the best cash back credit card deals, Tangerine Money Back/ Cash Back Credit Card is the final word today.

They actually build their trust by giving such a great value to their customers. They know what their customers, I mean, Canadians really want.

How do they know that? Tangerine actually ran a preview phase of their Cash Back/Money Back Credit Card from October 2015 to February 2016. The overall idea was to collect valuable feedbacks from the Canadian Customers.

Tangerine Cash Back Credit Card Preview Reports

Tangerine says,

  • Over a Hundred Thousand people registered for the preview for the chance to apply for the Tangerine Cash Back Credit Card.
  • Tangerine selected over 32,000 people to participate in the review.

Now, what happened in the next 5 months?

  • Over 2.1 million transactions have been monitored.
  • Total spending of over $119 million reported.
  • Over $1.3 million in cash back rewards have been awarded to the customers.
  • Most Rewarded categories were Grocery (1st), Restaurants (2nd), Gas (3rd).

What else a Credit Card company needs to study their Customers?

According to the customer feedbacks, Tangerine improved the overall Credit Card experience and quickly reserved the first place in the Cash Back Credit Card category automatically.

They didn’t make any huge changes to the cash back rates as it was one of the best in the No Annual Fee – Fixed Rate Cash Back – Credit Cards in Canada.

They did make some changes in the application process and ensured easier navigation on both online and Mobile Banking App.

After all, Today Tangerine has over 1.9 million active customers in Canada and that keeps theirs as Canada’s Leading Direct Bank.

Key features of Tangerine Cash Back Credit Card

Annual Fee: $0.

Cash Back Rates: 2% cashback in the 3 chosen categories and 1% cash back everywhere else.

Sign up Bonus: AN introductory rate of 4% cash back in the chosen categories for the first 3 months.

The sign-up bonus is the most attractive feature of the Tangerine Credit Card at the first glance.

A hidden fact about Tangerine Cash Back Credit Card

A customer can only get 2 – 4% categories (for the first 3 months then 2%) by default.

Then why it is written as 3 chosen categories?

That is something which you must know before start using your Tangerine Cash Back Credit Card. But, before I dive into that;

You can redeem your Cash Back Rewards in two different ways mainly;

  1. To your Tangerine Money Saving Account.
  2. Back to your Tangerine Money Back Credit Card.

You can get 3 chosen categories but, you need to redeem your cash back rewards to your Tangerine Money Saving Account.

The idea behind that is, they want you to have a Tangerine Savings accounts too – A clean business idea.

But no worries, they are not charging you anything for a Chequing/Savings accounts so far, instead, they give you a $50 bonus to open a new Chequing account – That is pretty cool.

So, once you choose the Savings account to redeem your cash backs, you will get 3 – 4% categories (for the first 3 months then 2%), otherwise, you will get only 2 – 4% categories.

As long as it doesn’t cost you anything to open a Savings Account with Tangerine, no worries.

In Conclusion

Before I let you go, let me show you;

What are the different categories available to choose?
  1. Grocery
  2. Restaurants
  3. Gas
  4. Furniture
  5. Hotel-Motel
  6. Recurring Bill Payments
  7. Drug Store
  8. Home Improvement
  9. Entertainment
  10. Public Transportation and Parking
What works for me?

I have been a Tangerine Cash Back Credit Card user since March 2016. From that experience, I would say, Grocery, Gas, and Restaurants works very well for me and it is still going great.

If I missed anything or if you have anything new to share with me,  please feel free to comment here.

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