This hustle free card is my best to go. Tangerine credit card offers 2% cash back for your chosen categories (2 or 3 categories) and 0.5% Money-Back Rewards on all other purchases. It offers Free Cards for Authorized Users on your Account. Also there is a promotional rate for balance Transfer where new clients will receive a Balance Transfer promotion of 1.95% for 6 months. These are not just the reasons why CADEconomy selects Tangerine cash back as one of the best cash back cards in 2018. There may be cards which offer up-to 4% cash back for certain categories. But, there are many other reasons why Tangerine is the chosen one. See them below:
1. Unlimited cash back rewards
The best thing about Tangerine credit card is that there is no restriction for your cashback earnings. Yes you read it right, with Tangerine Cash Back Credit card you earn unlimited cash back rewards. Unlike other cards which allows you to earn cashback only to a certain amount, there is no such thing for Tangerine credit card.
2. No Annual Fee
If you are not very used to use credit cards wisely or you are a newbie in earning or saving money with credit cards, the first ever rule you should follow is never apply for one with an annual fee. And yes tangerine have no annual fee. It is not waived for the first year, believe me, it doesn’t have an annual fee at all.
But if you check the top cards in the cash back category, almost all of them have it, be it SimplyCash Preferred Card from American Express, TD Cash Back Visa Infinite or The Scotia Momentum Visa Infinite Credit Card
3. Optimize your cash back
I don’t think any other credit cards offer this. You can earn 2% cash back for the categories you chose and not for the one the bank or the creditor chose for you. Unlike other credit cards, which force you to use the card for their own or their sister companies products for maximum cash back, Tangerine stays with its consumer’s convenience.
4. Customizing throughout
You can change the categories whenever you want without having to make a call to the call center. Save time. Foresee a big purchase or travel before a month and change your 2% cash back category to travel like restaurants and Hotel-Motel or any merchandise category like Home improvement or Furniture. As easy as it is.
Tangerine offers the following categories to choose from for 2% cash back:
- Recurring Bill Payments
- Drug Store
- Home Improvement
- Public Transportation and Parking
5. Chose where to deposit the cash back
You can either apply the cash back towards your Credit Card balance or redeemed into your Savings Account. One point to note is you can choose 3 categories for 2% cash back if you apply the cashback to your savings account and 2 categories if applied towards the credit card. So it’s always better to have a Tangerine savings account and redeem the cash back there.
6. No more waiting for cash back
Unlike the big banks, which gives you the cash back at the year end or once annually, tangerine cashback are earned automatically and paid monthly, and can either be applied towards your Credit Card balance or redeemed into your Savings Account.
7. No strict minimum Income requirement
Tangerine doesn’t have a condition that you need a threshold income in order to be eligible to apply. If you compare with other major cash back cards, most of them demand a minimum income requirement. For example, Momentum Visa Infinite card from Scotia demands you to have a minimum annual income of $60,000, and BMO cashback demands an annual income of $80,000.
What does this mean? It simply means your credit card application will be rejected if you do not have this income no matter how good your credit score and lending habits are.
8. Balance transfer for first 6 months
Nowadays many cards offer this. But I would say Balance transfer rate of 1.95% in addition to the 2% cash back for your chosen categories and no annual fee is the best combination which not any credits cards offer in 2018.
Considering all the points listed above, Tangerine cash back credit is one of hustle free and best credit cards for cash back. Do you have any questions or concerns about the card? Let me know below 🙂