Choosing Between TD (Toronto Dominion) Aeroplan Visa Infinite Card Vs. Tangerine Money-Back Credit Card Vs. Neo Card With Credit Builder
Choose between TD (Toronto Dominion) Aeroplan Visa Infinite Card Vs. Tangerine Money-Back Credit Card Vs. Neo Card with Credit Builder. Read on this article to find out which one is best for you.
Source: Freepik
In this article, we will do a comparative analysis of three major credit cards in Canada. We will study each credit card individually.
TD Aeroplan Visa Infinite Card
1. Eligibility
On this card, you must have a minimum income requirement of $60,000 annually and a household income requirement of $100,000 yearly. Further, your credit score needs to be 660 or more, and you must be a permanent resident of Canada.
2. Annual fees
The annual fee on this card is $139 and gets waved off the first year.
3. Interest charged on Balance
The purchase interest rate on this card is 19.99%, the cash advance interest rate is 22.99%, and the balance transfer interest rate is 22.99% on this card.
4. Cashback and Rewards
On this card, it entitles you to a welcome bonus of 50,000 bonus points which values at around $1000
Also, you get the chance to earn 1.5x points on gas, groceries, and Air Canada purchases, and you can earn 1x points on all other purchases.
Further, you can earn up to 20,000 Aeroplan points by spending $1,500 within the first 90 days of your account opening.
Plus, you earn an additional 20,000 Aeroplan points when you spend $7,500 within the first 12 months of your account opening.
| Eligibility | 1. A minimum income requirement of $60,000. 2. A minimum household income requirement of $100,000. 3. A credit score of 660+. 4. A permanent resident of Canada and age. |
| Annual fees | $139 but waived off in the first year. |
| Interest charged on Balance | 1. The purchase interest rate on this card is 19.99%. 2. The cash advance interest rate is 22.99%. 3. Balance transfer interest rate is22.99%. |
| Cashback and Rewards | 1. A welcome bonus of 50,000 bonus points ($1000). 2. Earn 1.5x points on gas, groceries, and Air Canada purchases. 3. Earn 1x points on all other purchases. 4. Earn 20,000 Aeroplan points when you can spend $1,500 within the first 90 days. 5. Earn 20,000 Aeroplan points if you spend $7,500 within the first 12 months. |
Tangerine Money-Back Credit Card
1. Eligibility
On this card, your minimum income requirement should be $12,000 annually, and there is no minimum household income requirement. Further, your credit score needs to be 660 or more, and you must be a permanent resident of Canada.
2. Annual fees
The annual fee on this card is $0.
3. Interest charged on Balance
The purchase interest rate on this card is 19.95%, the cash advance interest rate is 19.95%, and the balance transfer interest rate is19.95%.
4. Cashback and Rewards
On this card, you can earn up to $150 as your welcome bonus offer. With this, you can earn 2% on the three categories you choose and approximately 15% on all your everyday purchases.
| Eligibility | 1. A minimum income requirement of $12,000. 2. No minimum household income requirement. 3. A credit score of 660+. 4. A permanent resident of Canada and age. |
| Annual fees | $0 |
| Interest charged on Balance | 1. The purchase interest rate on this card is 19.95%. 2. The cash advance interest rate is 19.95%. 3. The balance transfer interest rate is 19.95%. |
| Rewards | 1. A welcome bonus of up to $150. 2. Earn 2% in the three categories you choose. 3. Earn 15% on everyday purchases. |
Neo Card with Credit Builder
1. Eligibility
There is no minimum income requirement or minimum household income requirement. Further, your credit score needs to be 600 or more, and you must be a permanent resident of Canada.
2. Annual Fees
The annual fee is $0 on this card.
3. Interest in Balances
The purchase interest rate on this card is 24.99%, the cash advance interest rate is 26.99%, and the balance transfer interest rate is zero on this card.
4. Cashback and Rewards
On this card, you can earn 15% cashback on your first purchase at partnered centers and an average of 4% cash back at partnered shops with a 1% guaranteed cashback on your everyday shopping.
| Eligibility | 1. No minimum income requirement. 2. No minimum household income requirement. 3. A credit score of 600+. 4. A permanent resident of Canada and age. |
| Annual fees | $0 |
| Interest charged on Balance | 1. The purchase interest rate on this card is 24.99%. 2. The cash advance interest rate is 26.99%. 3. The balance transfer interest rate is zero. |
| Rewards | 1. Earn 15% cashback on your first purchase. 2. 4% cash back at partnered shops. 3. 1% guaranteed cashback on your everyday shopping. |
Now, having a clear idea about all these three credit cards, let us do a comparative analysis of all these three credit cards:
| TD Aeroplan Visa Infinite Card | Tangerine Money-Back Credit Card | Neo Card with Credit Builder | |
| Additional Benefits | 1. Earn 1.5x points on gas, groceries, and Air Canada purchases. 2. Earn 1x points on all other purchases. 3. Earn 20,000 Aeroplan points when you can spend $1,500 within the first 90 days. 4. Earn 20,000 Aeroplan points if you spend $7,500 within the first 12 months. | 1. Earn 2% in the three categories you choose. 2. Earn 15% on everyday purchases. | 1. Earn 15% cashback on your first purchase. 2. 4% cash back at partnered shops. 3. 1% guaranteed cashback on your everyday shopping. |
| Welcome Offer | A welcome bonus of 50,000 bonus points ($1000). | A welcome bonus of up to $150. | – |
| Minimum Income Requirement | A minimum income requirement of $60,000. A minimum household income requirement of $100,000. | A minimum income requirement of $12,000. No minimum household income requirement. | No minimum income requirement. No minimum household income requirement. |
| Condition of Canadian Resident | Yes | Yes | Yes |
Expertbyarea advice
The tabular representations above must have cleared your doubts about these three credit cards.
Now, if you are a frequent air traveler, the TD Aeroplan Visa Infinite Card can be the perfect choice for you, where you can earn rewards while you book your tickets with a welcome bonus and other cashback rewards.
If you want to cater to a particular spending category, the tangerine money-back card is the best pick.
In the end, we can give opinions, but the last call shall be yours!
You may let all your acquaintances know and help them clear their doubts about these credit cards in Canada.
