Tangerine MasterCard about to get worse | Page 2 | Tangerine Bank | Discussion forum

A concerted action of not using the Tang card may cause them to rethink dropping their rate. There are many online calclator tools available that help pick the best card according to how you spend. Tang used to be good for low to moderate spenders, less so now, and not good for big spenders.

Yes, as long as it is one of your categories.
But many purchases occur outside the 2-3 allowed categories, so why not look for a card that pays more?

SavingIsGood said

I agree. But what are the other options considering credit card with absolutely no fee (not even promotion 'no fee offer')?  

MBNA Smart Cash Visa pays 2% gas and grocery, and 1% on everything else. No fee. They may even have a promo of 5% rewards for the first 6 months, but not sure if this is still in force.

Stephen

Loonie said
We're not the only ones who have noticed these changes and are very unhappy:
https://www.thestar.com/business/personal_finance/2017/04/25/tangerine-turns-its-winning-credit-card-into-a-lemon-roseman.html

If, as is suggested here, they were losing money on this card, then I doubt they'll do any better with the changes they've made. It will just encourage people to restrict their use of this card to the specific categories; and to get another card for everything else. Some people may not notice the changes, but many will, and there are always new cards coming along. As it stands, they are a fairly ordinary card as they have given up most of what set them apart.  

Bang on Loonie. I stopped using it for US and non-reward category purchases as soon as I heard of the changes. Prior to that, I was getting between 15 and 20 a month in cash back. Now, 3 weeks into my billing period, it's at 5 bux. Lot of USA purchases now going on my Amazon Visa and Tang gets NOTHING that isn't in my 2% categories. Their 28 day grace period does give more flexibility in paying it off each month though. Like that feature.

If Chase has stopped issuing the Amazon cards, this does not speak well for their longevity, methinks. Perhaps they'll morph into something else.

Surely you don't think that Tangerine plans to get rich on unpaid bills, do you?
I mean to say, they have promised us that there would be no "unfair" fees, right? The fact that probably 95% of the people in the country think the interest rates on credit cards are usurious (the other 5% being bankers) and many have much harsher words for it obviously has nothing to do with fairness...
You may have a point though. Perhaps there weren't enough unpaid bills to keep them happy. Old INGers are no doubt a penny-pinching lot of misers who would never dream of letting a bill go unpaid for even a day. We believed the nice Dutchman when he said "save your money'. Financial literacy may not be Tangerine's friend.

Yes, it looks like that's where it's headed - until some upstart sees an opportunity to be the sole provider, even if they don't offer the full 2.5
Maybe it's too costly for them. 2.5% is a good chunk of change.

SavingIsGood said
Unfair? Fee is 'unfair'??? You must be joking. They can charge WHATEVER they want. There is no fairness in somebody making money. It is up to you to accept or decline. If Most people will decline, yes fee will go down. But people are sheep willing to get slaughtered daily...  

I should have put the word unfair in quotation marks. It's Tangerine's word, not mine. They're the ones who claim "no unfair fees". As if!