Earn $250 Cash with Tangerine Money-Back Credit Card

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:

Lately, if I write about a specific card only, I’ve only been writing about significant changes or offers, such as:

Otherwise, I have been leaning towards comparison posts, such as:

So if there is a card that you would like me to write about, please let us know in the comment section below.

Tangerine Money-Back Credit Card

Anyway, onto the Tangerine Money-Back Credit Card, below are the highlights of the card:

  • No annual fee
  • Earn $250 credit to your account (after spending $5,000 in the first 3 months) (if you apply before March 31, 2020)
  • Earn 2% cash back on choice of 2 categories (3rd choice if you deposit the cash back into your Tangerine Savings Account)
  • Earn 0.5% cash back on all other purchases

Prior to this sign up bonus offer, this card was offering a no limit 4% cash back on all choice of 2 to 3 specific category purchases within the first 3 months. So let’s do a quick mathematical calculation. Note that I am only going to consider 2% cash back purchases, cause you are better off using another card if you are only going to earn 0.5% in cash back for a specific purchase.

  • Spend $5,000 and earn 4% on specific purchases nets you $200 in cash back. But you have to subtract the 2% that you would have earned, so that cuts the bonus in half to $100 added bonus.
  • Compare this to $5,000 in spending with the new $250 bonus. You would earn the regular $100 (2% x $5,000), plus the $250 sign up bonus for a total of $350.
  • But if you spent $12,500 wit the 4% cash back offer, then you would pocket $500 in cash back overall.

The idea is, this new cash back offer is a much better deal if you have lower spending. But the more spending you had, the 4% cash back offer was actually better.

Either way, if you have been thinking about this card and you can manage to put $5,000 in spending on this card, the $250 cash back bonus is quite attractive!

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