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Tangerine Money-Back MC

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  • Nov 22nd, 2017 4:02 pm
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Tangerine Money-Back MC

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NOTE: This is continuation of the original thread: tangerine-2-cash-back-mastercard-4-sele ... s-1696103/

So to start off this is an amazing card. It completely owns the MBNA Smart Cash (Thanks TD for making it worst, although it does have a better 5% CB for gas/groceries for 6 months) and is one of the best no annual fee CC card in the market imo. Starting 04/29, the card will have some (bad) changes, refer to: https://www.tangerine.ca/en/landing-pag ... index.html

Let's get to the features:

- Earn 2% CB on purchases in two selected 2% CB categories, and 0.5% CB on all other purchases (1% pre-04/29/17).
- If you have CB deposited into your Tangerine Savings Account, you will be able to get three selected 2% CB categories
- Categories available: Grocery, Furniture, Restaurants, Hotel-Motel, Gas, Recurring Bill Payments, Drug Store, Home Improvement, Entertainment, Public Transportation and Parking (Refer to here for more info)
- You can change your 2% CB categories every 90 days (First change can be done in 30 days).
- CB is paid monthly, can be applied to statement balance or deposit to Tangerine Savings Account
- No limit on CB earned
- Pending transactions appear on online banking as you use the card
- 2.5% foreign conversion fee (1.5% pre-04/29/17)
- No annual fee, free supplementary cards
- Purchase Assurance, which may automatically cover loss, theft or damage, in excess of other insurance, for 90 days from the date of purchase
- Extended Warranty, which may double the period of repair services, to a maximum of one additional year, when the original manufacturer’s warranty expires

You can apply for the card at:

Tangerine (no CB): https://www.tangerine.ca/en/spending/cr ... index.html
GCR ($40 CB): Google GCR
Rate Supermarket (Nothing atm): https://www.ratesupermarket.ca/deals/tangerine

PS: Check on the links to see the most updated rate as they can change.

How to change reward categories: (1) Click on the "Manage Rewards" link on the main page, (2) Click on the blue "Change" button in the next page, (3) ...and you are there! (Again, the first change can be done in 30 days, after that it has to be 90 days)

How to change cash back method: (1) Click on the "Manage Rewards" link on the main page, (2) Click on "Change" on the bottom right in the next page, (3) ...and you are there!

Note (31/01/17): It seems the 4% promotion on the 3 selected categories is no more. I checked the Tangerine/GCR/RSM websites and no mention of the promotion anymore. (Credit to @Hartom and @S5)

More info will be added as they come in. Let me know if I am missing anything.
「もし、奇跡を起こせたら……」
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[OP]
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More info on 2% CB Categories (Credit to Salaman):

- Drug Stores: merchants classified as “Drug Stores/Pharmacies” (MCC 5912);

- Eating Places: merchants classified as “Eating Places, Restaurants, Bars, Lounges, Discos, Nightclub Taverns and Fast Food Restaurants” (MCC 5812 – 5814);

- Entertainment: merchants classified as “Sports Venues, Theatres, Amusement Parks, Carnivals, Circus, Tourist Attractions and Exhibits, Movie Theatres, Zoos, Bands, Orchestras, Aquariums” (MCC 7941, 7922, 7996, 7991, 7929, 7998, 7832, 7829);

- Furniture: merchants classified as “Home Furnishing Stores, Furniture Reupholstery” (MCC 5712, 5719, 7641);

- Gas: merchants classified as “Service Stations” (MCC 5541/5542);

- Grocery: merchants classified as “Grocery Stores and Supermarkets” (MCC 5144, 5422, 5462); NOTE: Does not include Costco online/stores or regular Walmart stores/online

- Home Improvements: merchants classified as “Hardware Stores, Home Supply Warehouse Stores, Lawn and Garden Supply Stores, Glass/Paint/Wallpaper Stores, Florist supplies nursery stock & flowers, Floor Coverings, Drapery and Window Coverings” (MCC 5251, 5200, 5261, 5231, 5718, 5713, 5714);

- Hotels-Motels: merchants classified as “Lodging, Hotels, Motels, Resorts or by Property name” (i.e. Fairmont, Marriott, Holiday Inn, etc.) (MCC 7011, 3500-3828);

- Public Transportation and Parking: merchants classified as “Automobile Parking Lots and Garages, Public Transportation (including Buses, Trains, Ferries), Taxis, Road Tolls” (MCC 7523, 4111, 7524, 4121, 4784); NOTE: Does not include TTC

- Recurring Bill Payment: Recurring bill payments are defined as payments made on a monthly or other regular basis, and which are automatically billed by the merchant to your Tangerine Money-Back Credit Card, such as your monthly phone bill. Not all merchants offer recurring payments, and not all ongoing payments will be considered “recurring payments” for purposes of this category. (Confirmed working/non-working PAPs: https://docs.google.com/spreadsheets/d/ ... sp=sharing)
「もし、奇跡を起こせたら……」
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Before it gets asked again and again

Costco in store or online and Walmart stores (except Supercentres) and all Walmart online purchases will earn 1% as they are not in any of the 2% categories.

Walmart Supercentres only in store you will earn 2% as MasterCard considers these to be grocery stores. (Visa does not consider Walmart Supercentres to be grocery stores which is why Tangerine MasterCard / RBC MasterCard have an advantage over the Scotia and CIBC cards)
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Shawguy wrote:
Apr 17th, 2016 11:38 pm
Before it gets asked again and again

Costco in store or online and Walmart stores (except Supercentres) and all Walmart online purchases will earn 1% as they are not in any of the 2% categories.
I made a note on that on the 2nd post.
「もし、奇跡を起こせたら……」
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ace604 wrote: How can you pay CRA with Visa for 2%?

I know Plastiq has a deal til end of the month for only 1.75% fee but it is for MasterCard only
Plastiq Fee: 1.99%. They deleted the list so you have to do a fake transaction to figure out the fee. Didn't complete it. Just far enough to get the fee shown.

Cibc dividend platinum visa. May have been around for the infinite. I didn't look. I only got the platinum as I only qualified for the platinum visa. Since the welcome promo is fyf and 4% everywhere the first 6 months. If you signed up for the card before march 31st, then your shiny new visa card from cibc will now have a 4% across the board promo. However you have a cap of the first 5000 only. Afterwards it's back to 1%

My idea is to use the tangerine for the 4% promo catagories and use the cibc promo to pay your taxes via plastiq if you have the card. Since plastiq charges a 1.99 fee for visa, you'll come out ahead with the cibc 4% promo. You'll have earned 2.01% in cashback if you pay your taxes with the new cibc visa card.

The tangerine card does have a 4% promo for the first 3 months and the cibc card does have a cap of the first 5k spent.

Anyhowwww, I just did it for mine
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[QUOTE]So question re: Recurring bills. Does Bell, Rogers and Reliance Home Comfort qualify under that category? Thanks. (And here I thought recurring bills mean pre-authorized payment...) [/QUOTE]
Rogers is under recurring bills. No idea on Bell and Reliance Home comfort.
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Troydabes wrote:
Apr 18th, 2016 6:38 am
Rogers is under recurring bills. No idea on Bell and Reliance Home comfort.
It probably does have to be preauthorized. I manually paid my Telus bill monthly and it did not qualify for recurring. Switched on preauthorized and it's now considered recurring.
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Telus pre-authorized payment counts as recurring. Still waiting for CAA Plus to post to see if it does too. Also from my understanding Netflix and Teksavvy also count as recurring but I can't confirm yet (hasn't hit my account).
I am the Stig's brother's cousin's friend's former roommate.
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Conundrum1911 wrote:
Apr 18th, 2016 8:43 am
Telus pre-authorized payment counts are recurring. Still waiting for CAA Plus to post to see if it does too. Also from my understanding Netflix and Teksavvy also count as recurring but I can't confirm yet (hasn't hit my account).
Yes. Netflix count as recurring
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Scubatorx wrote:
Apr 18th, 2016 6:43 am
It probably does have to be preauthorized. I manually paid my Telus bill monthly and it did not qualify for recurring. Switched on preauthorized and it's now considered recurring.
Damn, the Tangerine person said it does not need to be authorized.
Troydabes wrote:
Apr 18th, 2016 6:38 am
Rogers is under recurring bills. No idea on Bell and Reliance Home comfort.
Thanks, did you need to preauthorize your Rogers bill to qualify for 2%?

I am testing Bell and Reliance right now but if they need to be preuthorized payments...
「もし、奇跡を起こせたら……」
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bluebellrose wrote:
Apr 18th, 2016 1:11 am
Plastiq Fee: 1.99%. They deleted the list so you have to do a fake transaction to figure out the fee. Didn't complete it. Just far enough to get the fee shown.

Cibc dividend platinum visa. May have been around for the infinite. I didn't look. I only got the platinum as I only qualified for the platinum visa. Since the welcome promo is fyf and 4% everywhere the first 6 months. If you signed up for the card before march 31st, then your shiny new visa card from cibc will now have a 4% across the board promo. However you have a cap of the first 5000 only. Afterwards it's back to 1%

My idea is to use the tangerine for the 4% promo catagories and use the cibc promo to pay your taxes via plastiq if you have the card. Since plastiq charges a 1.99 fee for visa, you'll come out ahead with the cibc 4% promo. You'll have earned 2.01% in cashback if you pay your taxes with the new cibc visa card.

The tangerine card does have a 4% promo for the first 3 months and the cibc card does have a cap of the first 5k spent.

Anyhowwww, I just did it for mine
Gotcha. This is a good idea but ONLY if you won't otherwise hit $5k spend in 6 months on the CIBC Dividend. If you WOULD hit $5k, then you are just preventing yourself from getting 4% on something down the road and paying 1.99% unnecessarily on your taxes.

---
EDIT: To be perfectly clear here, I'm only talking about your first $5k "other" spend that earns 4%, which I'm assuming is not groceries/gas since you're using your Tangerine card for that, right? :)
e.g. If (a) you will spend $6k, and your last $1000 spend is on groceries, and your first $1000 spent is on taxes, then you'll still get 4% on that last $1,000. So that scenarios is okay.
BUT, if (b) you spend $6k, with your last $1000 on non-groceries/gas, then you "wasted" your first $1000 on taxes ... you are earning 1% on that last $1,000 instead of 4%. You end up with $200 cashback on your $5k either way.
Instead you should (c) NOT pay taxes with Plastiq, and earn 4% on your full $5k remaining spend. $200 cashback.

All choices net you $200 on your first $5000. The differences are, with (a) you earn another 4% ($40) on the last $1k with groceries, in exchange for $19.99 spent to pay taxes (good trade). $240 - $19.99 = $220.01
With (b) you earn 1% ($10) on your last $1k in exchange for $19.99 spent to pay taxes (bad trade). $200 + $10 - $19.99 = $190.01
With (c) you earn 4% on your last $1000 as well since it's now within your first $5k window. $200 cashback!
---

In my case I got the Dividend card March 31st. I'm only using it for non-Tangerine category spending for 3 months, but that includes a car insurance renewal in addition to other miscellaneous stuff (including Costco Cash Cards online to get 4% back at Costco :) ) ... and then I have another 3 months after the Tangerine promo ends to continue spending on the card.

I'm for sure going to hit $5k so paying extra to pay taxes doesn't make sense.

Anyone considering the same should do the math and see if you will hit the $5k. If you are short, you can always prebuy gift cards for future spending and effectively extend the 6 months. I don't think you should have to pay extra fees to hit $5k unless you have really low monthly spend.
POLL: How frequent is your RRSP-matching?
Plastiq: Pay any bill with credit card for 0-2.5% fee (help meet min spending and keep old cards active!)
Rewards program transfer times (e.g. SPG->Aeroplan, Marriott->SPG, Amex MR->SPG...)
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Conundrum1911 wrote:
Apr 18th, 2016 8:43 am
Telus pre-authorized payment counts as recurring. Still waiting for CAA Plus to post to see if it does too. Also from my understanding Netflix and Teksavvy also count as recurring but I can't confirm yet (hasn't hit my account).
Teksavvy is recurring payment. I have it set up as PAP.
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Shawguy wrote:
Apr 17th, 2016 11:38 pm
Before it gets asked again and again

Costco in store or online and Walmart stores (except Supercentres) and all Walmart online purchases will earn 1% as they are not in any of the 2% categories.

Walmart Supercentres only in store you will earn 2% as MasterCard considers these to be grocery stores. (Visa does not consider Walmart Supercentres to be grocery stores which is why Tangerine MasterCard / RBC MasterCard have an advantage over the Scotia and CIBC cards)
FWIW AMEX as well does not consider any Walmart Store as a Grocery (checked with AMEX Simply cash during its first 6 month 5% promo).

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