Tangerine is a digital bank that became extremely popular with its Money-Back credit card a couple of years ago. Today, we will be taking a closer look at their World Mastercard.
Highlighted by an advertised 0% annual fee and unlimited cashback, this card sounds good both for everyday spending, as well as saving money while traveling. This option also offers personalized categories.
Thus, you are the one who gets to choose what types of purchases you will get 2% cashback on. Additionally, there are many travel perks that make this credit card one that deserves further attention.
Fees and Charges
There is not an annual fee with this card. This is quite good considering the fact that most competitor banks offer travel credit cards that still require you to pay monthly/annual maintenance.
You will be subject to a cash advance fee, as well as a transaction interest rate that is set to 19.95%. This is no surprise, as most credit card companies have an APR within this range. Meanwhile, the late or canceled payment fee is fixed and set to $25.
Among the coolest things about this product is that you will get to enjoy a 1.95% balance transfer fee for the first 6 months. This is if you make a single balance transfer within 30 days of becoming an owner of the World Mastercard Tangerine.
However, after this period has passed, you will be subjected to a balance transfer fee that is the same as the one you are charged for a cash advance.
As we have mentioned above, the main feature of this card is the unlimited cashback. How does it work, though?
You have 10 different categories and three choices to make (furniture, grocery, restaurant, gas, hotel-motel, recurring bill payments, drug store, home improvement, entertainment, public transportation/parking).
For the purchases in the three categories of your choice, you will be able to earn 2% cashback. On all others, it is set at 0.5%.
How To Apply
Apart from highlighting the fees and charges of the Tangerine World Mastercard, the main idea of this article is to guide you through the application process. Firstly, you should check whether you meet all of the criteria.
You need to be above 18 years of age, as well as prove that you are a Canadian citizen/permanent resident.
Along with that, you should have a credit score that is set between 740 and 850. You must also have a minimum personal income of $60,000 or a household income of $100,000 on an annual basis. If you consider yourself eligible, then applying is incredibly simple.
Log onto the official Tangerine website, sign up, and submit the online form that will include your personal info, as well as proof of income and ID. Once you have done that, the decision should be with you in a matter of a few seconds.
If approved, you can expect the credit card to be delivered to your address in a couple of business days.
Bank Contact Details
We always emphasize the importance of reliable customer support when it comes to banking. Luckily, Tangerine offers several ways for you to contact them and get your question answered.
In-Person: by finding your nearest branch and booking an appointment here
Phone: 1-888-826-4374; available 24/7
Twitter/Online Communities: @TangerineHelps
Mailing Address: Tangerine, 3389 Steeles Avenue East, Toronto, Ontario, M2H 0A1
Live Chat: click here; Weekdays from 8 am to 8 pm ET; Weekends from 8 am to 5 pm ET
Features and Benefits
Among the coolest features that this credit card is highlighted by is the Mobile Device Insurance.
If you buy a new mobile phone or a tablet using the Tangerine World Mastercard, and it is later lost or stolen, you are subjected to insurance of up to $1,000.
If you want to find out about the Amazon Credit Card, take a look here.
The Tangerine World Mastercard offers a fantastic rewards program, and its 0% annual fee makes the offer even better. The three personalized categories, as well as the featured travel perks, make this a good choice for those of you looking for an everyday spending credit card with reasonable fees/charges!
Note: There are risks involved when applying for and using credit. Consult the bank’s terms and conditions page for more information.