Choosing a card
Amex SimplyCash vs Tangerine Money-Back in Canada
On our example spending profile the SimplyCash Card from American Express finishes the year $83 ahead: $329 of rewards net of its $0 regular annual fee, against $246 for the Tangerine Money-Back Mastercard after its $0 fee. The SimplyCash Card from American Express also pays the higher recorded rate in 1 of the 9 categories both cards price, and the Tangerine Money-Back Mastercard in 6.
Is the Amex SimplyCash or the Tangerine Money-Back better?
On our example spending profile the SimplyCash Card from American Express finishes the year $83 ahead: $329 of rewards net of its $0 regular annual fee, against $246 for the Tangerine Money-Back Mastercard after its $0 fee. The SimplyCash Card from American Express also pays the higher recorded rate in 1 of the 9 categories both cards price, and the Tangerine Money-Back Mastercard in 6.
Two no-fee cash-back cards: chosen categories against one flat rate.
WalletReturn example spending of $2,000/month: groceries $500, dining $200, gas $150, transit $80, travel $100, recurring bills $200, entertainment $100, drugstore $40, online $300, other $330.
The first year reads differently. With any welcome offer included, the Tangerine Money-Back Mastercard is worth $346 and the SimplyCash Card from American Express $329. A welcome offer pays once, so the net annual figure is the one to compare for a card you plan to keep.
Put it into practiceSimplyCash Card from American ExpressHow do the two cards compare, fact by fact?
The two cards at a glance, on the same recorded facts. Amex SimplyCash leads by $83 a year before any benefits you would use are counted.
| Card facts | SimplyCash Card from American Express | Tangerine Money-Back Mastercard |
|---|---|---|
| Annual fee | $0 | $0 |
| Rewards net of the annual fee (example profile) | $329 | $246 |
| First-year value (welcome offer included) | $329 | $346 |
| Welcome offer recorded | None recorded | $100 |
| Rewards program | Cash Back | Money-Back Rewards |
| Network | American Express | Mastercard |
| Income requirement | Not recorded | Not recorded |
| Purchase interest rate | 21.99% | 20.95% |
| Foreign transaction fee | Not recorded | Not recorded |
Rewards net of the annual fee are the year’s estimated rewards after the card’s regular fee, excluding any welcome offer. First-year value adds a welcome offer where the card supports one. Both use the same example spending profile for every card.
A “Not recorded” entry means our catalogue does not hold that fact for the card. It is an unknown, not a favourable fact, and we never fill the gap by assumption.
Which card pays more in each category?
The SimplyCash Card from American Express pays the higher recorded rate in 1 of the 9 categories both cards price (Travel), the Tangerine Money-Back Mastercard in 6, and they are level in 2. An asterisk marks a rate that draws on a capped limit.
| Category | SimplyCash Card from American Express | Tangerine Money-Back Mastercard |
|---|---|---|
| TopGroceries | 2% * | 2% |
| Dining | 1.25% | 2% |
| Gas | 2% * | 2% |
| Transit | 1.25% | 2% |
| Recurring bills | 1.25% | 2% |
| Travel | 1.25% | 0.5% |
| Drugstores | 1.25% | 2% |
| Online shopping | 1.25% | 2% |
| Entertainment | 1.25% | 2% |
A bonus rate applies only to purchases that record in that category. Merchant classification decides it, so a purchase in the same store can earn differently.
Across the 9 categories both cards price, the Amex SimplyCash is higher in 1, the Tangerine Money-Back in 6, and they are level in 2.
SimplyCash Card from American Express: a $15,000 annual cap on groceries, after which 1.25% applies.
SimplyCash Card from American Express base rate: 1.25% on purchases outside its bonus categories. Tangerine Money-Back Mastercard base rate: 0.5% on purchases outside its bonus categories.
Do the bonus rates have caps?
Yes. Amex SimplyCash caps part of its bonus earning. Once a capped limit is reached every category inside that limit drops to the rate that applies afterwards.
SimplyCash Card from American Express: a $15,000 annual cap on groceries, after which 1.25% applies. Tangerine Money-Back Mastercard: no bonus-category cap recorded.
A cap is often shared between categories — groceries and dining on one card can use the same allowance, so spending in one reduces what is left at the bonus rate in the other.
An unrecorded cap is an unknown, not a promise that no cap exists. Confirm the current terms with the issuer before relying on a rate.
Is the extra annual fee worth it?
Both cards charge a $0 regular annual fee, so the whole $83 difference on our example profile comes from the earning rules and caps, not from the fee.
| Measure | Amex SimplyCash | Tangerine Money-Back |
|---|---|---|
| TopAnnual fee | $0 | $0 |
| Rewards net of the fee (example profile) | $329 | $246 |
| Difference | Amex SimplyCash by $83 |
This arithmetic uses our example profile: WalletReturn example spending of $2,000/month: groceries $500, dining $200, gas $150, transit $80, travel $100, recurring bills $200, entertainment $100, drugstore $40, online $300, other $330. A smaller month of bonus-category spending has to earn the fee back on less.
With equal fees, the entire difference is in the earning rules.
If either card’s fee is waived or rebated in the first year, that changes year one only. Compare the regular fee for a card you plan to keep.
How do the first-year values compare?
Including welcome offers, the Tangerine Money-Back Mastercard leads year one at $346 against $329. On rewards alone the order is the other way round.
| Measure | Amex SimplyCash | Tangerine Money-Back |
|---|---|---|
| TopWelcome offer recorded | None recorded | $100 |
| First-year value (offer included) | $329 | $346 |
| Rewards net of the annual fee | $329 | $246 |
A welcome offer is conditional: it usually needs a minimum spend inside a set period, and it pays once. Ongoing rewards are what the card is worth in a normal year after its fee.
Which card should I pick?
On our example spending, the SimplyCash Card from American Express. If your spending is concentrated in Dining, Transit and 4 more, the Tangerine Money-Back Mastercard becomes the better fit.
If you expect to carry a balance, the lower borrowing rate is 20.95% against 21.99%, and interest at those levels can outweigh a year of rewards. This comparison prices rewards only.
WalletReturn is paid by affiliate links on some cards. Compensation does not change an estimate, a cap or the order of any ranking, and we do not predict approval odds or eligibility.
How do I check this against my own spending?
Enter your own monthly amounts by category in Find My Card and the totals are recalculated for both cards with their caps and post-cap rates applied.
Compare puts two cards side by side, and the Rewards Calculator shows the arithmetic for one card at a time. My Wallet keeps the pair you actually hold.
Every card is put through the same earn rules, cap records and welcome offers. Where a card’s terms do not document something, it stays unrecorded on its product page and in this article.
Keep reading
RankingsBest American Express Cards in CanadaEvery Amex and Amex-network card in Canada ranked by first-year value, including Scotiabank’s Amex cards. Top: Scotiabank Gold American Express ($1,011).
RankingsBest Tangerine Credit Cards in CanadaTangerine Rewards World Elite Mastercard records the highest first-year value of the Tangerine cards we track at $674, and Tangerine Money-Back World Mastercard leads the same lineup on net annual rewards at $246. Both figures are net of the annual fee.
Choosing a cardSimplii Cash Back Visa vs Tangerine Money-Back in CanadaOn our example spending profile the Simplii Financial Cash Back Visa finishes the year $65 ahead: $311 of rewards net of its $0 regular annual fee, against $246 for the Tangerine Money-Back Mastercard after its $0 fee. The Simplii Financial Cash Back Visa also pays the higher recorded rate in 1 of the 9 categories both cards price, and the Tangerine Money-Back Mastercard in 7.- RankingsBest No Annual Fee Credit Cards in CanadaNo-fee Canadian credit cards ranked by how much they earn in a typical year. Top earner: Scotiabank American Express at about $364 a year.
Official sources and further reading
Terms vary by product. Confirm the provider’s current terms before acting. This guide does not predict approval, realized value or credit-score changes. How WalletReturn calculates value