Credit Cards - Tangerine Money-Back Credit Card (2/16/2016)

A new potential credit card coming to the markets is:

Tangerine Money-Back Credit Card 

 

Benefits:

• no annual fee

• Deposited directly back onto your Credit Card to apply towards your balance, or into a Tangerine Savings Account, each month automatically.

• 2% Money-Back Rewards on your purchases in select 2% Money-Back Categories
• Grocery
• Furniture
• Eating Places
• Hotel-Motel
• Gas
• Recurring Bill Payments
• Drug Store
• Home Improvement
• Entertainment
• Public Transportation and Parking

• 1% Money-Back Rewards on all other purchases

• 1.5% Foreign Conversion Fee – one of the lowest in market (Amazon.ca Visa card is better …)

Retailer Cash Back Definitions:

• Costco => 1% Cash Back
• Walmart Superstores => 2%
• Regular Walmart => 1%

Update: 2/16/2016

• Got the card today in the mail
• You can either pick 2 or 3 categories for cash back for the 2%
• 2 categories with the money going back into your credit account
• 3 categories with the money going back into your new/existing tangerine savings account 
• I picked Grocery, Eating Places, Gas

Source of Information:

https://www.tangerine.ca/en/spending/creditcard/index.html