2% on 3 categories is nothing to be overly excited about. A churner would just put that spending on a new card.
Tangerine is pretty stingy with their offers. I applied for mortgage a long time ago and got declined. When I opened a bank account to take advantage of offer for opening new account, they said I'm not a new client because they have my information on profile and it was a few years apart from each other. Seems like they keep your profile on their system for life.
Check out the credit card thread in the personal finance section. Tons of cards are first year free.
Just got off the phone with Tangerine as I'm moving my funds out and closing the account. They mentioned the customer "profile" is deleted after 2 years.rain wrote: ↑ Tangerine is pretty stingy with their offers. I applied for mortgage a long time ago and got declined. When I opened a bank account to take advantage of offer for opening new account, they said I'm not a new client because they have my information on profile and it was a few years apart from each other. Seems like they keep your profile on their system for life.
Yeah we have no problems there, I have a few other WE/World type cards... I submitted amounts higher than those... credit score is 809, checked today and haven't applied for many accounts in the last yearsupremekai wrote: ↑ You need income of $60,000 or household of $100,000
I've read many horror stories of strange rejections by Tangerine CC.
I think he was referring from a churner's perspective. Tangerine is a good no-AF card for 3 categories you normally can't get accelerated CB on (e.g. home improvement).
Also worth mentioning that when the $5000 spends don't fall into any of the 2% categories, then the cashback would be 0.5% instead. That said if one is able to spend $5000 on the 2% categories in 3 months, and they wanted the card anyway, that's a good $305 bonus to get started! $305 is a 6% return on its own.Presents wrote: ↑ I think he was referring from a churner's perspective. Tangerine is a good no-AF card for 3 categories you normally can't get accelerated CB on (e.g. home improvement).
However, spending $5,000 to get 5% from a "churning" perspective is a really weak offer. Especially given there are three credit card offerings right now that offer you 10% on spend up to $2,000 (first year free) and does not have the restriction of you need to make the spend or you lose it (i.e. if you spend $4,000 on Tangerine you don't get the $250 at all). If you have one of those latter offers, you really don't want to be putting $5,000 on the Tangerine card when there are better options (opportunity cost of where that spending should go).
Not to discount this card. It is a good no-AF card and great for filling in those categories that are non-accelerated. However, if you're eligible for the Rogers WE with 1.75% on all spend, it's really a trouble/benefit of whether or not that extra card is worth the extra 0.25%. Most people would opt for a good Gas & Grocery card if those spending are significant (e.g. many 3% / 4% cards that could be worth the AF).
Here's the credit card churning thread for reference: http://forums.redflagdeals.com/jerrys-l ... q-1685293/
Another good thread for good cards depending on the purpose: http://forums.redflagdeals.com/whats-be ... s-2162874/
Credit card combos: credit-card-combos-thread-2263322/
(You'll see Tangerine shows up here occasionally)
Aw well, moved on to Amex so too bad for Scotiabank. It really doesn't want to make me bother with them much more than getting the bonus and getting out. My utilization rate is near 0%, there's little reason I should have been denied but it's their loss.
Mind elaborating on the cashback would be 0.5% if the $5000 spending did not fall into any of the 2% category?DDR wrote: ↑ Also worth mentioning that when the $5000 spends don't fall into any of the 2% categories, then the cashback would be 0.5% instead. That said if one is able to spend $5000 on the 2% categories in 3 months, and they wanted the card anyway, that's a good $305 bonus to get started! $305 is a 6% return on its own.
I'm in a similar boat, I want to reduce spending a little bit the next few months and don't think it makes sense to hit the cap or take the credit check hit atm
The promotion says you have to spend $5000 in order to get $250. If you don't end up spending 5k, then you only end up with 0.5% on items not in the 2% category.adilh53 wrote: ↑ Mind elaborating on the cashback would be 0.5% if the $5000 spending did not fall into any of the 2% category?
This offer is for spend $5000 on anything and get $250 cashback which works out to 5%. Nothing falls into 0.5% cashBack for the first $5000 spent on this card (for this promo)
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