Which One Is The Best For You: Tangerine Money-Back Mastercard Or Laurentian Bank Visa Infinite Card?
Want to understand which credit card is best for you? Read this blog to find the which one is better for you, Tangerine Money-Back Mastercard or Laurentian Bank Visa Infinite card.
Source: Freepik
Credit cards in Canada may confuse you in terms of their features. Let us compare the Tangerine Money-Back Mastercard and the Laurentian Bank Visa Infinite card.
Tangerine Money-Back Mastercard
The Tangerine Money-Back Mastercard can be the best fit for balance transfer cards.
The Tangerine Money-Back Mastercard saves money with everyday transactions with its money-back rewards.
Let us discuss its various features, such as eligibility, welcome bonuses, and other aspects below-
Eligibility-
The eligibility criteria for this card are:
- You need to be a permanent resident of Canada and be of the required age.
- Your minimum income should be $12,000 annually or more.
- You should not have a bankruptcy record for a minimum of 7 years.
Annual Fees-
The bank will not charge you any annual fees on this card. ($0).
Interest charged on the balances-
The balance transfer interest rate on this card is 19.95%. If we talk about the cash advance interest rate, it is also 19.95%. The interest rate also stands at the same.
Rewards and Cashback-
Next, you can earn up to a 2% back reward on the three distinct categories you choose. Everyday purchases earn you 2% on this card.
Other Features-
You can choose any three from ten categories: grocery, entertainment, and furniture.
Also, the money back rewards each month. There is no cap on the amount you earn on your transactions.
| Eligibility | A permanent resident of Canada of age. The minimum income should be $12,000 annually or more. Should not have a bankruptcy record for a minimum of 7 years |
| Annual Fees | $0 |
| Interest charged on Balances | Balance transfer interest rate– 19.95% Cash advance interest rate– 19.95% Interest rate– 19.95% |
| Rewards and Cashbacks | 2% money back reward on the three specific categories. Everyday purchases earn you 2%. |
| Other Features | Choose from 10 options for your 3 categories. No cap amount on the money back you earn with each transaction. |
Laurentian Bank Visa Infinite card
The Laurentian Bank Visa Infinite card is a reward card. It is a good option for those who want good travel cards in Canada.
Let us explore the various features of this card here below:
Eligibility-
The minimum income should be $60,000 annually. Also, a credit score of 760+ is required.
Annual Fees-
Annual fee of $130 for this card.
Interest charged on balances-
The balance transfer interest rate on this card is 21.99%. If we talk about the cash advance interest rate, it stands at 21.99%. The purchase interest rate is 19.99%.
Rewards/Cashback-
On this card, you can earn 3 points on bills, two points on groceries, gas, travel (hotel, taxi, flights, etc.), and one point on all other purchases. The benchmark is when you spend $1 you earn.
Other rewards-
Other than these features, on this card, you will earn a welcome bonus of 5000 points, approximately $50.
| Eligibility | The minimum income should be $60,000 annually. Credit score of 760+ |
| Annual Fees | $130 |
| Interest charged on Balances | Balance transfer interest rate– 21.99%. Cash advance interest rate– 21.99% Purchase interest rate – 19.99%. |
| Rewards/Cashback | 3 points on bills, 2 points on groceries, gas, travel (hotel, taxi, flights etc.) and 1 point on all other purchases as well |
| Other rewards | Welcome bonus of 5000 points |
Comparison:
| Criteria | Laurentian Bank Visa Infinite card | Tangerine Money-Back Mastercard |
| Additional Benefits | Welcome bonus of 5000 points | Choose from 10 options for your 3 categories. No cap amount on the money back you earn with each transaction. |
| Welcome Offer | Welcome bonus of 5000 points | – |
| Minimum income requirement | $60,000 annually | Minimum income $12,000 annually |
| Condition of Canadian Resident | Yes | Yes |
Opinion of Expertbyarea-
We compared the two best credit cards in Canada – the Laurentian Bank Visa Infinite card and the Tangerine Money-Back Mastercard.
If you are looking for a card to earn more cash rewards with no cap, the tangerine money back Mastercard is our pick. And, if you want to get a pleasant bonus and keep gaining with every transaction, the Laurentian Bank visa card can suit you.
