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Tangerine cash back MasterCard
September 15, 2020
11:40 am
Adam1
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Rick said

Nice...was it a new application or did you upgrade?  

Upgraded from the regular one.

Adam

September 15, 2020
6:58 pm
Rick
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Adam1 said

Upgraded from the regular one.  

Is it possible that upgrades kept the 28 day grace period? Wonder if new applications also have the 28 day window.

September 16, 2020
7:28 am
topgun
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Rick said

Is it possible that upgrades kept the 28 day grace period? Wonder if new applications also have the 28 day window.  

Interesting you have a 28 day grace period.

I have a card that has 26 day grace period.
Statement date X.
Grace Period 26 days.
Days in statement month. Assume month February
Due date X+26 days-28=X-2 (i.e. March X-2).
If you pay by pre-authorized payment, the payment is withdrawn on March X-2. It is posted March X-1. One day before my next statement date. If you make the payment manually from your bank account on March X-2 the payment is posted March X-1. If you have a 28 grace period be sure to pay a couple days earlier in March. Have fun.

Have a Great Day

September 16, 2020
12:20 pm
Adam1
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topgun said

Interesting you have a 28 day grace period.

I have a card that has 26 day grace period.
Statement date X.
Grace Period 26 days.
Days in statement month. Assume month February
Due date X+26 days-28=X-2 (i.e. March X-2).
If you pay by pre-authorized payment, the payment is withdrawn on March X-2. It is posted March X-1. One day before my next statement date. If you make the payment manually from your bank account on March X-2 the payment is posted March X-1. If you have a 28 grace period be sure to pay a couple days earlier in March. Have fun.  

Which card is that? All my other cards have are 21 days, unless the due date falls on a holiday, then it'll get pushed to the next business day: like with my recent one from bmo, the statement was on August 16 (that day never changes) and due on September 8 (21 days +1 day because of the weekend and +1 day because of labour day.

Pre-authorized payments usually give me an additional business day before the money gets taken from my account since it's a direct debit, but it's always paid on time. (Extra 3 days "grace period" if my due date falls on a Friday sf-cool )

Adam

September 16, 2020
1:14 pm
topgun
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Adam1 said

Which card is that? All my other cards have are 21 days, unless the due date falls on a holiday, then it'll get pushed to the next business day: like with my recent one from bmo, the statement was on August 16 (that day never changes) and due on September 8 (21 days +1 day because of the weekend and +1 day because of labour day.

Pre-authorized payments usually give me an additional business day before the money gets taken from my account since it's a direct debit, but it's always paid on time. (Extra 3 days "grace period" if my due date falls on a Friday sf-cool )  

Capital One Mastercard no fee.
Not sure if every one they issue has the same grace period of 26 days.
If you like getting your statement on a particular day of month many issuers can change the statement date. You must consider if the benefits fit your lifestyle. Have fun.

Have a Great Day

November 20, 2020
2:07 pm
pooreva
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It looks like Tang Master Card modified their categories in a bad way.
One of my selected categories is 'Home improvement' and when I used to shop at Home Depot/Lowe's I always got 2% cash back.
Shopped today at both and both stores have been reclassified to 'Furnishings, Appliances & Décor'. This is like what he hell????
Last time I bought something from Lowe's (June 2019) category was 'Home improvement and Repair'. IKEA was 'Furnishing...'. Today they are all 'Furnishing...'.
Did anybody got any notification of reclassification????
WHICH store is then 'Home Improvement'????
Now I have to go to both stores, return stuff and use 1% cash back card to buy it again.

November 20, 2020
3:03 pm
Norman1
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pooreva said
It looks like Tang Master Card modified their categories in a bad way.
One of my selected categories is 'Home improvement' and when I used to shop at Home Depot/Lowe's I always got 2% cash back.
Shopped today at both and both stores have been reclassified to 'Furnishings, Appliances & Décor'. …

Same day is too soon to tell for the Tangerine MasterCard!

One needs to wait a few days for the charges to actually post to see the final category used for cashback purposes.

What one sees right away is the pre-authorization for the charge to reserve part of the credit limit. The actual charge is posted later, after the merchant submits the batch the includes the charge.

According to Tangerine Money-Back Rewards Program Terms & Conditions, Home Improvement merchants are the following:

  • 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);
November 20, 2020
3:41 pm
pooreva
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Thank you for clarification.
Do you think that Anybody at Home Depot/Lowe's know what is their MCC code?
(MCC 5251, 5200, 5261, 5231, 5718, 5713, 5714)

A while ago I was trying to find Walmart Superstore MCC which should be Grocery store and NOBODY at the store (including store manager - main guy) nor at customer service was able to answer me that.
Thus for Tang MC Walmart S. is Grocery and for CIBC Visa Walmart S. is Not grocery store.

November 21, 2020
7:49 am
Norman1
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It is not surprising none of the store staff know about the credit card MCC. That's a matter between the merchant and their card processor that the store staff are not involved with.

Some card issuers do show the MCC on their online site for each transaction. Home Trust VISA does. PC Financial MasterCard used to.

Yes, the Walmart Superstores have a different MCC for MasterCard than for Visa. I found out earlier that their MCC is "Groceries Stores" for MasterCard charges and "Discount Stores" for Visa charges.

November 28, 2020
5:22 pm
Norman1
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I looked at some of my recent Home Trust Visa transactions.

The Home Depot I shopped at has MCC 5200 (Home Supply Warehouse Stores) for their Visa charges.

November 29, 2020
12:01 am
topgun
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Norman1 said
I looked at some of my recent Home Trust Visa transactions.

The Home Depot I shopped at has MCC 5200 (Home Supply Warehouse Stores) for their Visa charges.  

https://www.dm.usda.gov/procurement/card/card_x/mcc.pdf

Have a Great Day

November 29, 2020
9:09 am
topgun
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Norman1 said
I looked at some of my recent Home Trust Visa transactions.

The Home Depot I shopped at has MCC 5200 (Home Supply Warehouse Stores) for their Visa charges.  

https://www.mastercard.us/content/dam/mccom/en-us/documents/rules/quick-reference-booklet-merchant-edition.pdf

Have a Great Day

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