Tangerine Money-Back Credit Card features Mastercard airport experiences from LoungeKey.The bank offers two Mastercards: the Tangerine World Mastercard and the Tangerine Money-Back Credit Card. Tangerine’s credit cards come with $0 annual fees and offer card holders up to 2% back in rewards. While the bank’s initial offering was personal savings accounts, it’s since grown to provide its clients with a range of products, including credit, savings, chequing, and business banking. Tangerine’s available products have grown exponentially over the years. To add to that, Tangerine has an A- rating from the Better Business Bureau. Additionally, Tangerine is a member of the Canada Deposit Insurance Corporation and insures eligible chequing, savings and investment deposits up to $100,000. This gives most consumers peace of mind and confidence in the bank’s abilities to provide financial products such as loans, lines of credit and credit cards. Is Tangerine Safe?Īs mentioned above, Tangerine is owned by Scotiabank, which is one of Canada’s Top Five banks. It offers a broad range of financial products, including chequing accounts, savings accounts, investments, and credit cards. Today, Tangerine is the most widely accessed online bank in the country. In 2012, ING Direct was acquired by Scotiabank, which relaunched the bank as Tangerine. Additionally, the lack of overhead costs results in higher interest rates on savings accounts and investments and lower interest rates on credit products. This alternative to traditional banking results in reduced account fees thanks to Tangerine’s lack of overhead costs. It allows Canadians to bank virtually, without the need for visiting a branch. Founded in 1997 as ING Direct, Tangerine was one of the first direct banking institutions in Canada.
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