Some Canadian credit cards like these provide no annual fee insurance and rebate programs..
Key Comparisons
| Tangerine World Mastercard® | MBNA Smart Cash Platinum Plus® Mastercard® | |
| Estimated Credit Score | 660 | 660 |
| Annual Fees | N/A | N/A |
| Interest Rate | 19.95% | 19.99% |
| Insurance Coverage | Yes | Yes |
| Pros | 1. Complimentary on-demand and subscription services – you can enjoy special offers from a lineup of on-demand apps and subscriptions and save a few dollars on the way. 2. You can connect to any hotspot with the name Boingo Wi-Fi without incurring any roaming fees. 3. Earn 2% Money-Back on purchases in up to 3 categories of your choice. 4. Receive your rewards monthly, as you earn them, with no limit or cap on how much you can earn. 5. Shop with ease knowing your purchases are covered by Tangerine’s Purchase Assurance and Extended Warranty. | 1. You’ll earn an extra 3% on your gas and groceries purchases for the first 6 months – bringing your total earned to 5%. 2. Comes with 7 types to keep your purchases and travel well covered. Included in this count are all 3 rental car insurance coverages. 3. By charging the rental car to your card, you’ll receive a discount of at least 10% off the base rates. |
| Cons | 1. Short period for a lower-interest balance transfer. 2. High income threshold – $60,000 individual or $100,000 household annual income or total balances of $250,000 or more in Tangerine Savings Account(s) and/or Investment Fund Account(s). 3. There is a 3% transfer fee when you take advantage of the promotional balance transfer offer. | 1. There’s a $500 monthly spending cap that limits the accelerated rate you can earn on gas and groceries. 2. You’ll only be able to earn a maximum of $150 with the welcome bonus offer before you’re downgraded to a reduced rate. 3. This card doesn’t offer comprehensive benefits like travel insurance, mobile device protection, or roadside assistance. |
Key Benefits of Tangerine World Mastercard®
Balance Transfer
You can benefit from the 1.95% interest rate balance transfer promotion for the first six months, which could save you a ton of money on interest payments. Just keep in mind that you must not make any new purchases with this card if you transfer a balance to it. The amount with the lowest interest rate will receive all of your payments, which means that all of your new purchases will accrue significant interest fees.
Insurance Coverage
Our attention is drawn to mobile device insurance in particular. It’s already an uncommon insurance policy, and no fee cards make it even more so. How does insurance for mobile devices operate? Charge your gadget in its entirety to the card. Or, if the plan includes device coverage, use the card to pay for your plan. For a maximum of two years, you’ll have coverage for up to $1,000 of the cost of a new phone. Your actual phone’s cost determines how much coverage you actually get. The dividend, however, is subject to a 2% monthly depreciation.
Rewards
Get 2% Money-Back Rewards in two of your preferred 2% Money-Back Categories and 0.50% Money-Back Rewards on all of your further regular purchases. Get a third of your rewards’ 2% money-back category by having your rewards deposited into your Tangerine Savings Account. With Boingo Wi-Fi, your Tangerine World Mastercard gives you access to more than 1 million Wi-Fi hotspots worldwide, keeping you online. By using your Tangerine World Mastercard at specific merchants that accept Mastercard while traveling outside of Canada, you can access cashback incentives and get a reward credited immediately to your account.
Key Benefits of MBNA Smart Cash Platinum Plus® Mastercard®
Cashback and Welcome Offer
Increase cash back rates for frequent purchases. Get 5% Cash Back on gas and groceries for the first six months (until the total gas and grocery spending in the relevant month reaches $500), 2% Cash Back on gas and groceries for the following six months (until the total gas and grocery spending in the relevant month reaches $500), and 0.5% Cash Back on all other eligible purchases. Enroll in e-statements to receive a welcome bonus of 5,000 points, and within 90 days of your account creation, make your first eligible transaction to receive a bonus of 10,000 points.
Insurance
Top-tier insurance protection – If you have a platinum-tier MBNA credit card, which is the second-to-last position in the MBNA hierarchy, you are eligible for a range of travel and purchase insurance protections. Coverage for rental cars, help with misplaced luggage, tickets, and travel documents, legal counsel should you require it while traveling abroad, identity theft protection, and much more are all included with your card membership.
24-hour customer service
You can request a credit boost as an MBNA cardholder and have it credited to your account within an hour. Calling customer support is all that is necessary. The MBNA offers a range of solutions in case of an emergency. Up to $5,000 in emergency cash transfers can be provided by agents, or you can use Western Union to send a wire transfer.