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Paying Tangerine Mastercard via external bank
October 21, 2023
4:20 am
smayer97
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As interesting a product this is, and I do have one, I do not use it because it is missing one key feature. It only allows automatic payment of the monthly balance from a Tangerine account but does not allow the same from a third party bank. Instead, you have to do this manually.

I have multiple credit cards, of which at least 8 are actively used, all of which are set up with automatic payment of the monthly balance. I risk missing paying the balance if it is not automated.

Anyone in the same situation? Any solution?

October 21, 2023
5:05 am
savemoresaveoften
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switch over to the Rogers bank new Red mastercard, better benefits than the Tangerine card all around. Even better rebate if you have Rogers / Fido / Shaw services.

October 21, 2023
5:44 am
InterestThis
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You can set the Tang MC to send reminders of statements and balance due dates.

October 21, 2023
5:47 am
InterestThis
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That Rogers card is 1% cashback for non-Rogers customers, very weak.

October 21, 2023
7:02 am
savemoresaveoften
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InterestThis said
That Rogers card is 1% cashback for non-Rogers customers, very weak.  

I would not call it weak. Its a no fee card and earn 1% on all purchase. 2% if you are Rogers customers, 2.6% if redeeem against Rogers services.

Any no fee card that earns 1% is on par with most other free cards out there.
I just dont like the Tangerine card that one needs to specify categories, its a very weak offer for me when i am already earning 4% on groceries and gasoline on my other card.

October 21, 2023
7:07 am
smayer97
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InterestThis said
You can set the Tang MC to send reminders of statements and balance due dates.  

Thanks for the reminder but unfortunately, family circumstances still mean the risk of missing a payment.

October 21, 2023
7:11 am
smayer97
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savemoresaveoften said

I would not call it weak. Its a no fee card and earn 1% on all purchase. 2% if you are Rogers customers, 2.6% if redeeem against Rogers services.
...  

Thanks for the reminder. I have the Rogers World Elite MC but have been considering the new Rogers MC because of better rewards. I can get my wife to apply so I do not lose the World Elite card, since Rogers does not currently allow owning more than one card.

Strange that the World card now earn worse rewards on regular purchases (I have complained to Rogers about this) (and sure, there are other better rewards with the card, 3% on US$ and travel benefits, etc).

October 21, 2023
7:12 am
smayer97
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Overall, I am seeing there is no solution to directly address the Tangerine MC issue. :-\

October 21, 2023
7:22 am
chamnic
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smayer97 said

I have multiple credit cards, of which at least 8 are actively used, all of which are set up with automatic payment of the monthly balance. I risk missing paying the balance if it is not automated.

 

I'm curious, how does the third party bank know what the balance is on your credit to automate the payment or is it that the credit card account is setup to pull funds from your bank instead ?

October 21, 2023
8:14 am
cgouimet
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chamnic said

smayer97 said

I have multiple credit cards, of which at least 8 are actively used, all of which are set up with automatic payment of the monthly balance. I risk missing paying the balance if it is not automated.

 

I'm curious, how does the third party bank know what the balance is on your credit to automate the payment or is it that the credit card account is setup to pull funds from your bank instead ?  

It would be just like having your CellPhone, Cable etc on auto-Bill. That utility or CC or wharever sends a debit notice to its specified payer.

CGO
October 21, 2023
8:25 am
cgouimet
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smayer97 said
Overall, I am seeing there is no solution to directly address the Tangerine MC issue. :-\  

Credit Card companies like us to use them as auto-payers to our various service providers and it's generally easy to do so but we do not have any credit card (we only use 4) that allow auto balance payments.

We only have one on Auto Pay. BMO MC from BMO Checking. You can set it up online. You get a secure message that's set and then it happens. There is no evidence anywhere (other than that one secure message) that's it's going to happen until it has happened - your BMO MC has been paid on time in full and your BMO Checking has been debited. Not an obvious transparent process.

CGO
October 21, 2023
8:50 am
smayer97
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Thanks. I know how to set up auto-payment of outstanding credit card balance. The problem is that Tangerine does not allow using a third party bank for auto-payment by willing to withdraw the balance like all other credit cards do.

October 21, 2023
11:08 am
InterestThis
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savemoresaveoften said

I just dont like the Tangerine card that one needs to specify categories, its a very weak offer for me when i am already earning 4% on groceries and gasoline on my other card.  

What card are you using for 4% on groceries?

October 21, 2023
11:13 am
InterestThis
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This old thread says its not possible to use external Autopay for Tang MC. Probably would have to set-up a monthly auto-transfer from another bank to the Tang bank account.
https://forums.redflagdeals.com/how-setup-pay-tangerine-credit-card-automatically-2313677/2/

October 21, 2023
1:27 pm
savemoresaveoften
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InterestThis said

What card are you using for 4% on groceries?  

CIBC Visa Infinite which I get for free as part of my banking package, which is also free 🙂

October 21, 2023
6:18 pm
InterestThis
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savemoresaveoften said

CIBC Visa Infinite which I get for free as part of my banking package, which is also free 🙂  

Great, I can see that card. I am trying to look up the criteria for getting the fees waived for the card and banking package.
Can you tell me the name of that CIBC banking package?

October 22, 2023
11:32 am
Doug
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smayer97 said
As interesting a product this is, and I do have one, I do not use it because it is missing one key feature. It only allows automatic payment of the monthly balance from a Tangerine account but does not allow the same from a third party bank. Instead, you have to do this manually.

I have multiple credit cards, of which at least 8 are actively used, all of which are set up with automatic payment of the monthly balance. I risk missing paying the balance if it is not automated.

Anyone in the same situation? Any solution?  

Yeah, I requested that feature, and it's certainly one downside. For me, the Tangerine MasterCard product was made a tertiary credit card when previous CEO Brenda Rideout devalued the "all other purchases" to 0.5% from 1%. Plus, now that I've moved my day-to-day banking back to Tangerine due to being fed up with Coast Capital Savings' intransigence on refusing to add bank-to-bank transfers, an initial book of free physical cheques, and bank-to-bank transfer functionality, it wouldn't really effect me.

With whom do you have your chequing account?

My potential solution: Switch your primary chequing account to/back to Tangerine. Other than having to manually categorize a few transactions, you won't be disappointed. sf-cool

Cheers,
Doug

October 22, 2023
1:32 pm
jorno319
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Doug said

... due to being fed up with Coast Capital Savings' intransigence on refusing to add bank-to-bank transfers...

Off topic reply. Coast Capital Savings does now offer bank-to-bank transfers.

https://www.coastcapitalsavings.com/legal/digital-external-account-linkage

October 22, 2023
2:40 pm
smayer97
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Doug said

Yeah, I requested that feature, and it's certainly one downside. For me, the Tangerine MasterCard product was made a tertiary credit card when previous CEO Brenda Rideout devalued the "all other purchases" to 0.5% from 1%. Plus, now that I've moved my day-to-day banking back to Tangerine due to being fed up with Coast Capital Savings' intransigence on refusing to add bank-to-bank transfers, an initial book of free physical cheques, and bank-to-bank transfer functionality, it wouldn't really effect me.

With whom do you have your chequing account?

My potential solution: Switch your primary chequing account to/back to Tangerine. Other than having to manually categorize a few transactions, you won't be disappointed. sf-cool

Cheers,
Doug  

I seriously did consider making Tangerine my primary bank. It would be a big endeavour because I have many transactions linked to my chequing account. I would do it because it could be beneficial overall BUT another HUGE obstacle is the limit of only 3 links to external accounts. I have too many accounts to make that workable.

October 22, 2023
8:09 pm
Doug
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jorno319 said

Doug said

... due to being fed up with Coast Capital Savings' intransigence on refusing to add bank-to-bank transfers...

Off topic reply. Coast Capital Savings does now offer bank-to-bank transfers.

https://www.coastcapitalsavings.com/legal/digital-external-account-linkage  

Wow! Thanks. I'm surprised they didn't put out a news release about this. For me, though, it's a bit too little, too late. Plus, still no free cheques or Interac e-Transfers. 🙁

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