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New Tangerine World Mastercard
November 21, 2019
7:39 am
Winnie
Ontario
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Just received this Tangerine offer:

Upgrade your current Tangerine Money-Back Credit Card to the new Tangerine World Mastercard and get all the great Credit Card features you love, plus new, exclusive benefits:

World Mastercard Benefits: Rental Car Collision/Loss Damage
Insurance**:
Damage and theft protection for your car rental when you rent for up to 31 consecutive days and charge the full cost of your rental to your Card.

Mobile Device Insurance**:
Protection on new cell phones, smartphones or tablets when you charge the full cost to your Card, or when you purchase it through a plan and charge all of your wireless bill payments to your Card. Covers up to $1,000 if your mobile device is lost, stolen, accidentally damaged or experiences mechanical failure.

Mastercard Airport Experiences Provided by LoungeKey***:
Make the most of your travel with Mastercard Airport Experiences Provided by LoungeKey. Your complimentary membership gives you exclusive dining, retail and spa offers in over 400 airports worldwide, along with access to over 1,000 lounges at $32 USD per visit. Learn more at airport.mastercard.com.

Accept your upgrade in a few quick clicks. We’ll just get you to confirm a few details, accept the Terms and Conditions, and you’ll be all set. You can continue using your current Card until you receive and activate your new Tangerine World Mastercard.

Will it require a credit check?
No, upgrading to a Tangerine World Mastercard won’t involve a credit check and won’t impact your credit score.

Will my Account Number change?
Yes, your Tangerine World Mastercard will have a new Card and Account Number. You’ll want to provide the new information to any payees who have your Card on file, and if your Card is in your mobile wallet, you’ll need to update that, too.

What will happen to my Rewards?
Your Rewards and 2% category choices will carry over to the new Card. The Tangerine Money-Back Rewards program applies to the World Mastercard. See the Tangerine Money-Back Rewards Program for full details.

Are the interest rate and fees the same?
There will be no changes to the interest you pay on purchases and cash advances. Fees are also the same.†

When will I receive my new Card?
Your World Mastercard will come in the mail within 7-10 business days. You can continue using your current Card until you receive and activate your new Tangerine World Mastercard.

*This offer to upgrade your current Tangerine Money-Back Credit Card Account (the “Current Account”) to the replacement Tangerine World Mastercard Credit Card Account (the “Replacement World Account”) is based on the credit and financially related information Tangerine Bank (“Tangerine”) has about you including your annual purchases on your Current Account, which needed to be at least $15,000 for you to be eligible for this offer for the Replacement World Account. All terms of this offer to upgrade your Current Account to a Replacement World Account expire at 11:59 pm ET on February 6, 2020. Tangerine reserves the right to withdraw or change this offer, including the credit limit, even after acceptance by you, if a change occurs in your credit rating or other eligible criteria since being selected for this offer, or based on any additional information provided at the time of acceptance. This limited time offer only applies on your Current Account and is not transferrable and cannot be combined with any other offer. Accounts must be in Good Standing in order to receive Money-Back Rewards. See the Tangerine Money-Back Rewards Program Terms & Conditions for full details.

**Insurance coverage is underwritten by American Bankers Insurance Company of Florida (ABIC). ABIC, its subsidiaries, and affiliates carry on business in Canada under the name of Assurant®. ®Assurant is a registered trademark of Assurant, Inc. Coverage is subject to eligibility, limitations and exclusions. For details of the coverage, including definitions and benefits, refer to the Certificate of Insurance provided with the card.

***Offers vary by location. See airport.mastercard.com or the Mastercard app for more details. For a full list of the Terms and Conditions of use, visit airport.mastercard.com/terms-of-use. The Mastercard Airport Experiences offers are made available to you through Mastercard. Tangerine Bank is not responsible for the Mastercard Airport Experiences or any offers made available under those offers. Fees for this benefit are subject to change by Mastercard.

November 21, 2019
7:49 am
Yatti420
Canada
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No fees?

November 21, 2019
7:51 am
Winnie
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Yatti420 said
No fees?  

Are the interest rate and fees the same?
There will be no changes to the interest you pay on purchases and cash advances. Fees are also the same.†

November 21, 2019
10:03 am
Rick
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Was wondering what the point of the card was. Apart from the insurance, everything else seems pretty much the same, so I scrolled through the T&C and found this:

You'll receive an interest-free Grace Period of at least twenty-one (21) days on new Purchases on your Card if you pay the outstanding balance owing on your Account in full by the due date shown on your monthly statement.

They changed the grace period from 28 to 21 days.

I'm always leery when they say fees will remain the same, so here's a summary of them:
Other Fees
To be charged on the day the transaction occurs (unless otherwise indicated):
Cash Advance: $3.50 within Canada; $5 outside of Canada
Balance Transfer: 3% or minimum of $5 (unless reduced or waived) of the amount transferred when it is posted to your Account.
Dishonoured Payment: $25
Rush Card: $25
Over-Limit $25 (maximum one Over-Limit charge per monthly statement period)
Past Statement Reprint $5 per past statement. There is no charge for a reprint of your current monthly statement.

Didn't do a line for line comparison of T&C, so there may be other changes. Did find this one interesting though;
“Cash-Like Transactions” means Transactions involving the purchase of items that are directly convertible into cash. Cash-Like Transactions include casino gaming chips, money orders, wire transfers, travellers’ cheques and gaming transactions (including betting, off-track betting, race track wagers, and some lottery tickets).

Had that issue with BoM M/C when I charged a lotto max ticket and was charged daily interest. Don't think Visa does that, but not sure.

I already have the new benefits offered on other cards, so I think I'll just keep my regular old and crappy Tang card with the 28 day grace period. Of course, no guarantee they won't change that sometime in the future.

November 21, 2019
1:43 pm
Winnie
Ontario
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Rick said

I already have the new benefits offered on other cards, so I think I'll just keep my regular old and crappy Tang card with the 28 day grace period. Of course, no guarantee they won't change that sometime in the future.  

I will not be upgrading too, Rick.
Old crappy Tang card with the 28 days grace is just fine for me, the new benefits I also have on other cards.
Sneaky Tangerine, just changed the grace period from 28 to 21 days. I like 28 days - more money in my pocket.

November 21, 2019
4:39 pm
Doug
British Columbia, Canada
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Hard pass. Tangerine lost me, though I still have the card I don't use, when they bait-and-switched with their Money Back Credit Card, reducing all other purchases from 1% to 0.5%. 🙁

Right now, I'd go with the Mortgage Alliance MasterCard from Collabria (2% on gas + groceries; 1% everything else) for no annual fee or Hubert Cash Back MasterCard from Collabria (2% on gas; 1% on everything else).

Cheers,
Doug

November 21, 2019
7:54 pm
suburbs4life
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Doug said
Hard pass. Tangerine lost me, though I still have the card I don't use, when they bait-and-switched with their Money Back Credit Card, reducing all other purchases from 1% to 0.5%. 🙁

Right now, I'd go with the Mortgage Alliance MasterCard from Collabria (2% on gas + groceries; 1% everything else) for no annual fee or Hubert Cash Back MasterCard from Collabria (2% on gas; 1% on everything else).

Cheers,
Doug  

Why not Rogers World elite? Just curious.

November 22, 2019
6:31 am
Londonguy
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suburbs4life said

Why not Rogers World elite? Just curious.  

Probably because there's a qualifying income threshold of $80K for any World Elite card (the $80K criterion is set by Mastercard itself) which a lot of people can't meet, so it's not a mainstream card and therefore not a fair comparison to cards without those barriers. Yeah, some people try to fib on their applications in order to get WE cards, but most wouldn't do that.

A better comparison to the Rogers WE card would be the PC Financial WE or CT Triangle WE Mastercards (I have both). Why a person would pick any of these over the others IMO is mostly about the person's spending levels and habits, where they want to shop (e.g. a lot of people hate Loblaws and/or Rogers and/or Canadian Tire with a passion) and the types of card rewards (cash, points, insurance perks, travel perks, roadside assistance, etc.) that the person can best utilize in their geographic area -- so it's very specific to the individual

November 22, 2019
5:24 pm
suburbs4life
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Londonguy said

Probably because there's a qualifying income threshold of $80K for any World Elite card (the $80K criterion is set by Mastercard itself) which a lot of people can't meet, so it's not a mainstream card and therefore not a fair comparison to cards without those barriers. Yeah, some people try to fib on their applications in order to get WE cards, but most wouldn't do that.

A better comparison to the Rogers WE card would be the PC Financial WE or CT Triangle WE Mastercards (I have both). Why a person would pick any of these over the others IMO is mostly about the person's spending levels and habits, where they want to shop (e.g. a lot of people hate Loblaws and/or Rogers and/or Canadian Tire with a passion) and the types of card rewards (cash, points, insurance perks, travel perks, roadside assistance, etc.) that the person can best utilize in their geographic area -- so it's very specific to the individual  

Those are some good points. I agree. I am not a fan of Rogers myself. It took some time to get use too. Thanks for your opinion.

November 23, 2019
1:11 am
NorthernRaven
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Winnie said
Mobile Device Insurance**:
Protection on new cell phones, smartphones or tablets when you charge the full cost to your Card, or when you purchase it through a plan and charge all of your wireless bill payments to your Card. Covers up to $1,000 if your mobile device is lost, stolen, accidentally damaged or experiences mechanical failure.

I was looking at a similar feature on a Scotiabank Infinite Visa recently. Be aware that it isn't a full replacement-value type of insurance. Scotia's is limited to the first two years, they depreciate the replacement value by 2% a month, and there's a deductible ($100 for phones $600+). Still nice to have.

November 23, 2019
8:18 am
Doug
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suburbs4life said

Why not Rogers World elite? Just curious.  

God no. No use for Rogers rewards or cash back when I have no dealings with them. I'd go with Triangle WE before Rogers WE, which offers no benefit.

Prediction: Rogers eventually sells the assets of Rogers Bank to another credit card consolidator (probably Duo Bank; possibly a Big 5 bank or Collabria) and keeps the Rogers name under license from Rogers Communications. It has almost no market share after many years.

Cheers,
Doug

November 23, 2019
8:34 am
Alexandre
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NorthernRaven said

I was looking at a similar feature on a Scotiabank Infinite Visa recently. Be aware that it isn't a full replacement-value type of insurance. Scotia's is limited to the first two years, they depreciate the replacement value by 2% a month, and there's a deductible ($100 for phones $600+). Still nice to have.  

I use no annual fee AmEx SimplyCash card for that. It has:

Purchase Protection® Plan

Automatically, without registration, insures your eligible purchases against accidental physical damage and theft when you use your SimplyCash Card from American Express.

Buyer’s Assurance® Protection Plan

Automatically doubles the manufacturer’s original warranty up to one additional year when you charge the full purchase price to your SimplyCash Card from American Express.

Already used their Buyer's Assurance Protection Plan on not very common in Canada smartphone that I bought at Staples. Smartphone had 1 year manufacturer warranty, failed a year and one month after purchase. Extended warranty repair services for that smartphone are not available in Canada.
I've got full price refund from AmEx.

November 23, 2019
1:47 pm
NorthernRaven
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Alexandre said
I use no annual fee AmEx SimplyCash card for that. It has:

Purchase Protection® Plan

Automatically, without registration, insures your eligible purchases against accidental physical damage and theft when you use your SimplyCash Card from American Express.

Buyer’s Assurance® Protection Plan

Automatically doubles the manufacturer’s original warranty up to one additional year when you charge the full purchase price to your SimplyCash Card from American Express.

 

Visa Infinite cards usually have similar benefits. The Buyer's Assurance doubles the warranty, but the damage/theft coverage (on both AMEX and Visa Infinite) is limited to 90 days from purchase. The specific mobile device coverage would provide at least some reimbursement for 2 years, which might be enough for some people to bypass buying something like AppleCare, for instance.

November 23, 2019
2:17 pm
gicjunkie
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Doug said

God no. No use for Rogers rewards or cash back when I have no dealings with them. I'd go with Triangle WE before Rogers WE, which offers no benefit.

I hope you are not under the impression that one has to have a "Rogers" cell phone/internet/cable TV account in order to redeem the rewards. That used to be the case when they first started, but now they give you a credit card account rebate for points earned. I really do find that getting 1.75% back on all purchases (2% on Rogers purchases) is much more advantageous than just getting 2% on gas and groceries and 1% or less on the rest.

November 23, 2019
3:29 pm
Londonguy
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gicjunkie said

Doug said

God no. No use for Rogers rewards or cash back when I have no dealings with them. I'd go with Triangle WE before Rogers WE, which offers no benefit.

I hope you are not under the impression that one has to have a "Rogers" cell phone/internet/cable TV account in order to redeem the rewards. That used to be the case when they first started, but now they give you a credit card account rebate for points earned. I really do find that getting 1.75% back on all purchases (2% on Rogers purchases) is much more advantageous than just getting 2% on gas and groceries and 1% or less on the rest.  

Just for the record, the Triangle & PC cards both pay 3% on groceries (for CT it's no matter where you buy them, for PC the 3% is only at Loblaws banner stores). Gasoline-wise I get a 5% discount at CT, and effectively almost 7% with PC if I buy it from the Mobil station next to the Loblaws store. Beyond that there's the usual purchase insurance and CDW which generally comes standard on a premium card, plus there's the extra unconventional perks like free travel insurance (PC card) or the gold-plated roadside assistance (CT) that can save you quite a few bucks -- all of which needs to be factored into the rewards earning rate.

It's very difficult to do apples-to-apples comparisons between all these cards to establish that card X is better than Y or Z because it depends a lot on individual need and usage

November 23, 2019
5:30 pm
Joe
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gicjunkie said

Doug said

God no. No use for Rogers rewards or cash back when I have no dealings with them. I'd go with Triangle WE before Rogers WE, which offers no benefit.

I hope you are not under the impression that one has to have a "Rogers" cell phone/internet/cable TV account in order to redeem the rewards. That used to be the case when they first started, but now they give you a credit card account rebate for points earned. I really do find that getting 1.75% back on all purchases (2% on Rogers purchases) is much more advantageous than just getting 2% on gas and groceries and 1% or less on the rest.  

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Tangerine....Canada's best bank. LBC.............Canada's 2nd best bank.
Hubert.....worst bank in Canada.

November 23, 2019
8:03 pm
suburbs4life
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gicjunkie said

Doug said

God no. No use for Rogers rewards or cash back when I have no dealings with them. I'd go with Triangle WE before Rogers WE, which offers no benefit.

I hope you are not under the impression that one has to have a "Rogers" cell phone/internet/cable TV account in order to redeem the rewards. That used to be the case when they first started, but now they give you a credit card account rebate for points earned. I really do find that getting 1.75% back on all purchases (2% on Rogers purchases) is much more advantageous than just getting 2% on gas and groceries and 1% or less on the rest.  

Exactly Gicjunkie- the free unrestricted 1.75 % cash back and foreign exchange points suits me well as I have a free Amex gold with gas for 3% cash back points . I have too many cards. It was devastating to lose mbnas travel rewards when they gutted the free 2% cash back option.

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