Choosing a card
Simplii Cash Back Visa vs Tangerine Money-Back in Canada
On 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.
Is the Simplii Cash Back Visa or the Tangerine Money-Back better?
On 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.
No-fee cash-back cards with different bonus-category coverage.
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 Simplii Financial Cash Back Visa $335. A welcome offer pays once, so the net annual figure is the one to compare for a card you plan to keep.
Some of that lead sits in capped categories on the Simplii Financial Cash Back Visa (Dining), so it narrows once the cap is reached; the cap section below shows what applies afterwards.
Put it into practiceSimplii Financial Cash Back VisaHow do the two cards compare, fact by fact?
The two cards at a glance, on the same recorded facts. Simplii Cash Back Visa leads by $65 a year before any benefits you would use are counted.
| Card facts | Simplii Financial Cash Back Visa | Tangerine Money-Back Mastercard |
|---|---|---|
| Annual fee | $0 | $0 |
| Rewards net of the annual fee (example profile) | $311 | $246 |
| First-year value (welcome offer included) | $335 | $346 |
| Welcome offer recorded | $24 | $100 |
| Rewards program | Cash Back | Money-Back Rewards |
| Network | Visa | 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 Simplii Financial Cash Back Visa pays the higher recorded rate in 1 of the 9 categories both cards price (Dining), the Tangerine Money-Back Mastercard in 7, and they are level in 1. An asterisk marks a rate that draws on a capped limit.
| Category | Simplii Financial Cash Back Visa | Tangerine Money-Back Mastercard |
|---|---|---|
| TopGroceries | 1.5% * | 2% |
| Dining | 4% * | 2% |
| Gas | 1.5% * | 2% |
| Transit | 0.5% | 2% |
| Recurring bills | 1.5% * | 2% |
| Travel | 0.5% | 0.5% |
| Drugstores | 1.5% * | 2% |
| Online shopping | 0.5% | 2% |
| Entertainment | 0.5% | 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 Simplii Cash Back Visa is higher in 1, the Tangerine Money-Back in 7, and they are level in 1.
Simplii Financial Cash Back Visa: a $5,000 annual cap on dining, after which 0.5% applies; a $15,000 annual cap shared by groceries, gas, drugstores and recurring bills, after which 0.5% applies.
Simplii Financial Cash Back Visa base rate: 0.5% 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. Simplii Cash Back Visa caps part of its bonus earning. Once a capped limit is reached every category inside that limit drops to the rate that applies afterwards.
Simplii Financial Cash Back Visa: a $5,000 annual cap on dining, after which 0.5% applies; a $15,000 annual cap shared by groceries, gas, drugstores and recurring bills, after which 0.5% 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 $65 difference on our example profile comes from the earning rules and caps, not from the fee.
| Measure | Simplii Cash Back Visa | Tangerine Money-Back |
|---|---|---|
| TopAnnual fee | $0 | $0 |
| Rewards net of the fee (example profile) | $311 | $246 |
| Difference | Simplii Cash Back Visa by $65 |
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 $335. On rewards alone the order is the other way round.
| Measure | Simplii Cash Back Visa | Tangerine Money-Back |
|---|---|---|
| TopWelcome offer recorded | $24 | $100 |
| First-year value (offer included) | $335 | $346 |
| Rewards net of the annual fee | $311 | $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 Simplii Financial Cash Back Visa. If your spending is concentrated in Groceries, Gas and 5 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 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.
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- Choosing a cardBMO CashBack World Elite vs TD Cash Back Visa Infinite in CanadaOn our example spending profile the BMO CashBack World Elite Mastercard finishes the year $106 ahead: $430 of rewards net of its $139 regular annual fee, against $324 for the TD Cash Back Visa Infinite after its $139 fee. The BMO CashBack World Elite Mastercard also pays the higher recorded rate in 2 of the 9 categories both cards price, and the TD Cash Back Visa Infinite in 2.
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