Today is the second last day to apply for one of the two Tangerine cards (Tangerine Money-Back Credit Card, Tangerine World MasterCard) to benefit from the 10% cash back bonus. The Scotia Momentum Visa Infinite Card offer is also coming to an end this month if you have been thinking about it.
Two Tangerine cards have been added to this month’s list. This is the first time that Tangerine has offered a 10% cash back bonus.
Keep in mind that we still have the Top Cash Back Credit Cards page, which includes permanent and temporary offers if you wish to see a more complete list of cards, not just cards that offer at least 10% cash back.
Our 10% cash back post came out 3 days ago, so we just missed the new Tangerine 10% cash back promotion. We will add these two cards to next month’s list. This is the first time we saw a 10% cash back with Tangerine as they join a host of big hitters in the industry these days.
Due to the government lockdowns that occurred throughout the past 12 months (already? … gasp!), I find that I have dramatically reduced spending. The reduction in spending inspired me to write up this post. I’m sure that I’m not the only person to have reduced spending, so I thought I’d put together what I think would be an ideal no annual fee credit card portfolio.
Keep in mind that this post focused on credit cards with no annual fees whatsoever. This is important because I am thinking longevity (i.e. retaining the same card long term), so I will not be factoring churning, which would be a post for another day. For this post, you may notice some of the more lower profile cards, but do have some hidden value in them.
It has been 8 months since our last update. Can you believe it, 8 months ago we were already dealing with lockdowns.
Suffice to say, there has been some major changes to the industry since then, namely, Capital One slowly shutting things down, along with Aeroplan’s launch of new co-branded cards. Even so, you will notice most of the ranking changes from the middle to the end of the list.
It has been almost a year since we last updated this post, so no question this was due for an update. The reason why I waited so long is because there are very few changes to the rankings since then. However, there was a sufficient amount of changes to the industry to warrant an update. Most of the ranking movement occurred in the bottom third of the list. Furthermore, another common theme on this list is that the gap widen between some of the positions.
Every time I update the rankings, I have an overall theme throughout the post. For today’s post, the focus was on internal changes made by each financial institution which justify their position in the rankings.
Amid all the travel bans, yesterday we wrote a post about whether it makes sense to switch over to cash back credit cards instead of continuing to earn miles and points, which is a great seaway into today’s post.
All the CIBC and National Bank offers came to an end last month and they did not extend, so the list really trimmed down significantly this time around. TD switched around its offer but the next significant offer coming to an end this month is the Tangerine Money-Back Credit Card with its no annual fee, $250 sign up cash back bonus. So if you are still thinking about this card, I would go for it now. The BMO offers are also coming to an end this month.
Quite a few promotions will be ending on this list (end of February or early March) before it makes it to our next list. So if you have a card in mind, now’s the time to get it.
Note that this post focuses on temporary offers. Our Top Cash Back Credit Cards page continues to list current offers that are not exclusive to limited time offers like this post.
Highlights
For this month’s list, I would look at the Scotia Momentum Visa Infinite Card, which continues to be the top credit card offer with its 10% cash back welcome offer, along with the first year fee waived. The Tangerine Money-Back Credit Card changed up its sign up bonus to $250 cash, which is very high for a no annual fee card actually.
On a minor note, Laurentian Bank Visa Dollars is offering a competitive first year fee waived and 8% cash back bonus that Laurentian Bank customers may want to consider.
In a surprising move by Tangerine, they are currently offering a $250 sign up bonus with the Tangerine Money-Back Credit Card. It has been a while since I last wrote about a specific bonus offer, and I usually post my monthly lists.
For example, these are the January lists:
Best Current First Year Fee Waived Cards
Top Cash Back Credit Card Offers
Top Credit Card Higher than Normal Sign Up Bonuses
Lately, if I write about a specific card only, I’ve only been writing about significant changes or offers, such as:
Cineplex (movie theatre) and Tangerine Bank are teaming up on Tuesdays!
Basically, when you go to the movies on Tuesdays and swipe your Tangerine Money-Back Credit Card, you will receive the following benefits: