The Tangerine World Mastercard® is a fantastic option for Canadians seeking a versatile credit card with excellent rewards and benefits.
This card offers a compelling 2% cash back on up to three categories of your choice, plus a range of additional perks, making it a valuable tool for everyday spending and travel. Here's everything you need to know about the Tangerine World Mastercard®, including how to apply, required documentation, primary uses, and more.
What are the requirements to apply?
To apply for the Tangerine World Mastercard®, you need to meet specific criteria:
Age and Residency
- You must be the age of majority in your province or territory.
- You need to be a Canadian resident.
Employment and Income
- A minimum annual personal income of $60,000 or a household income of $100,000 is required.
- Proof of steady employment or a consistent source of income is preferred.
Credit Score
- A good credit score is advisable, typically a score of 650 or higher, to increase your chances of approval.
What documents are needed?
When applying for the Tangerine World Mastercard®, having the following documents ready will streamline the process:
Identification
- Government-issued photo ID (e.g., driver’s license, passport).
- Proof of Canadian residency, such as a utility bill or rental agreement.
Financial Information
- Recent pay stubs or other proof of income.
- Bank statements or tax returns for additional income verification.
- Information about any existing debts or credit card accounts.
What are the main uses of this credit card?
The Tangerine World Mastercard® is designed to offer substantial cash back on various spending categories, making it ideal for a wide range of uses.
Everyday Purchases
Earn 2% Money-Back Rewards in up to three categories of your choice, including groceries, dining, and gas, making your everyday spending more rewarding.
Groceries
Earn 2% cash back on grocery purchases, making it easier to save on your essential food shopping. This benefit is perfect for families and individuals who spend a significant portion of their budget on groceries each month.
Dining
Enjoy 2% cash back on dining, whether you’re eating out at restaurants or ordering in, making it a great choice for food lovers. This includes fast food, fine dining, and takeout, ensuring that all your culinary adventures are rewarded.
Gas
Save on fuel with 2% cash back on gas purchases, perfect for commuters and frequent travelers. This feature is especially beneficial for those who drive long distances or have a high monthly fuel expenditure.
Recurring Bill Payments
Earn 2% cash back on recurring bill payments, such as utilities and subscriptions, helping you save on regular monthly expenses. This can include phone bills, streaming services, and other recurring charges, providing a steady stream of rewards.
Our advice for applicants
If you’re planning to apply for the Tangerine World Mastercard®, consider these tips to enhance your application experience:
Gather Necessary Documents
Before starting your application, ensure you have all required documents ready. This includes your identification, proof of income, and any other financial documentation. Being prepared will help speed up the process and reduce potential delays.
Maintain a Good Credit Score
A good credit score significantly increases your chances of approval. Make sure your credit report is accurate and address any discrepancies. Pay down existing debts and avoid applying for multiple credit cards at once to maintain a strong credit profile.
Understand the Card Benefits
Familiarize yourself with the cash back rates and how they apply to different spending categories. Plan your spending to maximize your rewards. For instance, prioritize using the card for groceries, dining, and gas purchases to earn the highest cash back.
Review the Terms and Conditions
Read through the card’s terms and conditions carefully. Understand the interest rates, fees, and cash back redemption policies. Knowing these details will help you use the card more effectively and avoid unexpected charges.
Weigh the pros and cons. Is it worth it?
When deciding whether the Tangerine World Mastercard® is right for you, it's important to weigh the benefits against any potential drawbacks.
Pros
- High Cash Back Rates: Earn 2% cash back in up to three spending categories of your choice.
- No Annual Fee: Enjoy all the benefits without paying an annual fee.
- Valuable Benefits: Includes travel rewards, purchase assurance, and extended warranty. The card also offers mobile device insurance and access to Mastercard’s Priceless Cities program.
Cons
- Income Requirement: The minimum income requirement may exclude some applicants who do not meet the threshold.
- Interest Rates: The interest rate is 19.95% on purchases, which can add up if you carry a balance. It’s important to pay off your balance in full each month to avoid high interest charges.
Conclusion
The Tangerine World Mastercard® is worth it for those who can meet the income requirements and spend significantly in the high-reward categories. The no annual fee and high cash back rates make it a valuable addition to your wallet if your spending habits align with the card’s benefits. Additionally, the extra perks like mobile device insurance and Mastercard’s Priceless Cities program add further value to this card.
Apply once and for all for Tangerine World Mastercard® on the official website!
Ready to reap the rewards of the Tangerine World Mastercard®? Click the button below to start your application on the official Tangerine website. With its impressive cash back rates, valuable benefits, and comprehensive coverage, this card is designed to make your spending more rewarding. Don’t miss out on the opportunity to maximize your cash back on everyday purchases!