Most credit cards can be used to cover your expenses. It is still spending and not saving money, though. On the other hand, there are a couple of banks that offer money-back credit cards that include a cash-back (rewards) program.
If you are a Canadian citizen/permanent resident, then you will be happy to hear more about what Tangerine has to offer. Highlighted by reasonable fees and charges, as well as a fantastic rewards program, their Money-Back Credit Card is something that you should definitely consider.
To help you figure out whether it is a good choice for your needs, we will discuss the fees/charges, as well as the application process. Let’s get to it!
Fees and Charges
The first thing that we want to talk about is the customer-friendly money-back program that is offered by Tangerine.
Currently, there is a promotion that allows you to earn 4% cashback on purchases in three different categories, such as gas/hotel/grocery, as long as you decide that the rewards are deposited into your Tangerine account.
Among the coolest things about this offer is that not only are you eligible for the rewards program, but there is also no limit when it comes to how much money you can earn. Additionally, Tangerine doesn’t charge annual or foreign transaction fees.
Not only this, but the fee for balance transfers is set to just $1.95 for the first 6 months on all the transfers made within 30 days of account opening.
As for the different fees, you will be subjected to an annual percentage rate of 19.95% on purchases and cash advances. However, this varies depending on your creditworthiness, as well as the prime market rate.
While we think that the Tangerine Money-Back Credit Card is a great choice, it is still important that you stay reasonable when it comes to your budget. For help with this, we suggest you read the article here.
How to Apply
If you are looking to apply for the aforementioned Tangerine credit card, you should know that the process is quite simple. Everything can be done through an online form on their official website.
The first step is to fill in the required contact info and provide the documentation that proves your eligibility.
What are the criteria for approval? First, and foremost, you need to be older than 18 years old and a Canadian citizen/permanent resident. The second requirement is that you have a minimum annual income of $12,000, and the third requirement is that your credit score is 640 or over.
Once you have been approved, Tangerine should send you the credit card within a couple of business days.
Bank Contact Details
Among the most important things when it comes to doing business with banks is that you can contact them if you experience any issues.
Tangerine has a number of locations across Canada, which makes it quite simple if you are looking to visit a branch in-person. In order to find the branch that is nearest to you, we suggest that you use the Tangerine location generator.
There are also a couple of other contact forms, such as below.
Phone: 1-888-826-4374; every day, 24 hours a day
By Mail: Tangerine, 3389 Steeles Avenue East, Toronto, Ontario, M2H 0A1
Features and Benefits
As we have mentioned above, the main advantage of applying for the Tangerine Money-Back Credit Card is that you will get to enjoy 4% cashback for the first 3 months in three categories of your choice.
After that, you will get to enjoy a 2% rewards program on the same categories (as long as you get these deposited into your Tangerine account). On all other categories/purchases, you will get 0.5% cashback.
Summary
If what you are looking for is a credit card that will allow you to reconsolidate your finances and save some money in the process, this Tangerine Money-Back Credit Card is a fantastic choice.
Highlighted by reasonable rates and a simple application process, you shouldn’t have any issues getting approved as long as you have a good credit score.
There are risks involved when applying for and using credit. Consult the bank’s terms and conditions page for more information.
