Why do we recommend the Tangerine World Mastercard®️?
The Tangerine World Mastercard®️ is an excellent choice for Canadian consumers seeking a no-fee credit card with substantial benefits. This card stands out for its generous cash-back rewards, which can be customized to suit your spending habits. Cardholders can select up to three categories to earn 2% cash back, while all other purchases earn 0.5%. If you have a Tangerine Savings Account, you unlock the third 2% category, maximizing your rewards potential.
In addition to cash-back rewards, the Tangerine World Mastercard®️ offers several perks that enhance its value. These include no annual fee, rental car collision and loss damage insurance, mobile device insurance, and purchase assurance and extended warranty protection.
The card also provides access to over 1,300 airport lounges worldwide through the Mastercard Travel Pass program, though visits come with a $32 USD fee. Moreover, you can stay connected on the go with Boingo Wi-Fi, which offers access to over a million hotspots globally.
Another notable feature is the introductory balance transfer offer. New cardholders can take advantage of a 1.95% interest rate on balance transfers for the first six months, making it a useful tool for managing existing debt. Additionally, the card is made from 100% recycled plastic, reflecting a commitment to environmental sustainability.
Overall, the Tangerine World Mastercard®️ is highly recommended for its flexibility, robust rewards program, and comprehensive insurance benefits. It is particularly suited for those who prefer a cash-back card without the burden of an annual fee.
When can the Tangerine World Mastercard®️ be useful?
The Tangerine World Mastercard®️ is versatile and beneficial in many situations, making it an excellent choice for various types of spenders.
- Frequent Travelers: The card is a valuable companion for travelers. With access to the Mastercard Travel Pass program, you can enjoy exclusive dining, retail, and spa offers in over 650 airports worldwide. Additionally, you get the peace of mind that comes with rental car insurance and mobile device protection, crucial for those on the move.
- Everyday Purchasers: For day-to-day expenses, the Tangerine World Mastercard®️ excels with its customizable cash-back categories. Whether you spend a lot on groceries, gas, or dining out, you can choose the categories that match your spending habits and earn 2% cash back. This flexibility ensures you get the most value from your purchases.
- Debt Consolidators: The card’s introductory balance transfer offer is ideal for individuals looking to consolidate debt. With a 1.95% interest rate for the first six months on balance transfers made within the first 30 days of account opening, it can help reduce the cost of carrying a balance compared to higher-interest credit cards.
- Environmentally Conscious Consumers: The card’s construction from 100% recycled plastic aligns with sustainable values. If environmental impact is a consideration for you, this feature makes the Tangerine World Mastercard®️ an attractive option.
In summary, the Tangerine World Mastercard®️ is useful for frequent travelers, everyday purchasers, debt consolidators, and environmentally conscious consumers. Its range of benefits and no annual fee make it a practical and rewarding choice for various financial needs.
Benefits of the Tangerine World Mastercard®️
The Tangerine World Mastercard®️ offers several key benefits:
- Customizable Cash-Back Rewards: Earn 2% cash back in up to three categories of your choice, including groceries, gas, dining, and more. All other purchases earn 0.5% cash back.
- No Annual Fee: Enjoy all the benefits without an annual fee.
- Comprehensive Insurance: Includes rental car collision/loss damage insurance, mobile device insurance, purchase assurance, and extended warranty protection.
- Travel Perks: Access to over 1,300 airport lounges worldwide through the Mastercard Travel Pass program and exclusive offers at airports.
- Environmental Sustainability: The card is made from 100% recycled plastic, reducing its carbon footprint.
These benefits make the Tangerine World Mastercard®️ a versatile and rewarding choice for many consumers.
Disadvantages of the Tangerine World Mastercard®️
Despite its many benefits, the Tangerine World Mastercard®️ has a few drawbacks:
- Income Requirement: Requires a minimum personal income of $60,000 or household income of $100,000, which may exclude some potential applicants.
- Limited Cash-Back Categories: Only up to three categories can earn the 2% cash-back rate, while all other purchases earn 0.5%.
These limitations should be considered when evaluating if this card meets your financial needs.
How is the credit analysis done for the Tangerine World Mastercard®️?
The credit analysis for the Tangerine World Mastercard®️ involves several factors to determine eligibility. Applicants must meet the minimum income requirement of $60,000 for personal income or $100,000 for household income. Additionally, the applicant must be a Canadian resident and have reached the age of majority in their province or territory.
Tangerine does not specify a minimum credit score, but having a credit score of at least 670 is generally advisable to improve the chances of approval. The bank will review the applicant’s credit history, looking for a record of responsible credit use and a good credit mix. Factors such as outstanding debts, recent credit inquiries, and the length of credit history will also be considered.
Applicants must also provide personal information, including employment details and income verification. Tangerine may require additional documentation to support the application, such as proof of income and identification.
Overall, the credit analysis process is designed to ensure that applicants have the financial stability and creditworthiness to manage a Tangerine World Mastercard®️ responsibly.
Is there a maximum and minimum amount for this credit card?
The Tangerine World Mastercard®️ does not specify a maximum or minimum credit limit in its general information. However, the credit limit assigned to an approved applicant will depend on their creditworthiness, income, and overall financial profile. As with most credit cards, higher credit scores and incomes typically result in higher credit limits. It is advisable to contact Tangerine directly or refer to your specific card agreement for detailed information about your assigned credit limit.
Do you want to apply? Learn how to get the Tangerine World Mastercard®️ here
If you’re interested in applying for the Tangerine World Mastercard®️, the process is straightforward and entirely online. Simply click the button below to get started. You will need to log in to your Tangerine account or create one if you don’t already have it.
Follow the application prompts, provide the necessary personal and financial information, and submit your application. You’ll receive a decision shortly, and if approved, your card will be mailed to you within 10 business days.