Top features
No annual fee
2% Money-Back Rewards in two 2% categories (like Restaurants or Grocery), 0.5% on other everyday purchases
6 months of 1.95% interest on balances transferred in the first 30 days (19.95% after that)
Good to know
If you deposit your Money-Back Rewards into a Tangerine Savings Account, you get a 3rd 2% Money-Back Category
There’s no cap on the Money-Back Rewards you can earn
There is a 1% balance transfer fee with the promotional balance-transfer offer
If you’re choosing a new credit card and want to make a great, but simple choice, look for a card with no annual fee and cashback rewards. Any rewards program can be fine, but cashback-style rewards keeps it nice and easy because you don’t have to worry about how, when, and where to convert your rewards points.
Minimum income: $80,000 (individual), $150,000 (household)
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What is a cash back card?
A cash back card is pretty much how it sounds: you earn “cash back” for shopping with your credit card. How much you earn depends on your card’s earn rate, usually around 1% to 3%, though some rewards programs will offer you higher rewards for specific spending categories.
What are the types of cash back cards?
Though you have no shortage of cash back credit card options, you can separate them by the structure of their rewards program. In general, you can classify cash back cards as
flat-rate, bonus-category, and
Flat-rate
Flat-rate cards offer one universal earn rate, which is applied to all purchases. For example, if your card has a 2% flat-rate, you’ll earn $2 for every $100 you spend, no matter if it’s on gas, food, or travel.