New Changes are Coming to Tangerine Money-Back MasterCards

Recently, there are rumors about the upcoming changes to one of the best credit cards in Canada, the Tangerine Money-Back MasterCards.

According to the latest updates, the major changes include:

•     Balance Transfer Fee
• before: 1% or minimum of $5 (unless reduced or waived)
• after: 3% or minimum of $5 (unless reduced or waived)
•     Cash Advance Fee
• before: $2.50 within Canada; $5 outside of Canada
• after: $3.50 within Canada; $5 outside of Canada
•     Foreign Conversion Fee
• before: 1.50%
• after: 2.50%
•     Money-Back Categories
• before:   2% Money-Back Categories You will earn 2% Money-Back Rewards on all eligible Net Purchases in two (2) qualifying 2% Money-Back Categories of your choice if your chosen Redemption Destination is the Credit Card. If your chosen Redemption Destination is a Tangerine Savings Account, you will earn 2% Money-Back Rewards on eligible Net Purchases in three (3) qualifying 2% Money-Back Categories of your choice.
• after: 1% Money-Back Categories You will earn 1% Money-Back Rewards on all other Net Purchases not falling within your chosen 2% Money-Back Categories

The full details of the changes can be found here:  https://www.tangerine.ca/en/landing-page/creditcardnotification/index.html

Based on these changes, this card is not among the best rewards-based credit cards in Canada anymore. I am looking for some other credit cards in the next few days.

Thanks, Tangerine, for losing some loyal customers!