Tangerine rolls out money-back credit card to all Canadians

Over 32,000 participated in Card Preview to create seamless experience ahead of official launch

TORONTO, March 29, 2016 /CNW/ - Tangerine is pleased to officially launch its Money-Back Credit Card following a successful Preview phase that began last year. Starting today, all Canadians can now apply for the new credit card that is offering 4% Money-Back Rewards for the first three months in two categories of choice and 1% Money-Back Rewards on all other purchases, with no annual fee.*

Tangerine's Money-Back categories include restaurants, grocery, gas, entertainment, home improvement and more. This current offer is double the regular 2% Money-Back Rewards that cardholders can earn in two categories of their choice, while continuing to earn 1% Money-Back on all other purchases.

This unique Card is also designed to help Canadians save even when they're spending. If cardholders choose to have their Money-Back Rewards redeemed into their Tangerine Savings Account instead of back on their Credit Card, they will get an additional 2% Money-Back category (currently 4%), for a total of three.

"We want to help Canadians make smarter decisions with their hard-earned money and this now includes giving them more choice when it comes to their spending," says Peter Aceto, President and CEO of Tangerine.  "Whether it's groceries, gas, entertainment or other everyday spending needs, our new credit card puts money back in the pockets of our Clients, allowing them to save while they spend."

Tangerine's Money-Back Credit Card Preview phase lasted from October 2015 – February 2016. Thousands of Previewers signed on and provided valuable feedback that helped improve the overall Card experience including enhancements to the application process and easier navigation both online and within the Mobile Banking app.

TANGERINE CREDIT CARD PREVIEW FACTS

• A total of 108,000 people registered for the Preview for the chance to apply for the Card
• Over 32,000 people participated in the Card Preview
• Over $1.3 million in Money-Back Rewards have been awarded
• Grocery is the most popular Rewards category, followed by restaurants and gas
• There have been over 2.1 million transactions using the Card resulting in a total spend of $119 million

MONEY-BACK CREDIT CARD GAME

To help celebrate this launch, Tangerine created the Money-Back Credit Card Game available now at tangerinemoneybackgame.com. Starting today, consumers can visit the site to play for the chance to win great prizes. Prizes include gift cards ranging from $5 - $100 related to Tangerine's 2% Money-Back Categories.

To apply or learn more about Tangerine's Money-Back Credit Card, please visit tangerine.ca.

*Terms and Conditions around the current Tangerine Money-Back Credit Card offer can be found here - tangerine.ca.

About Tangerine
Tangerine is a direct bank that delivers simplified everyday banking to Canadians. With more than 1.9 million clients and close to $38 billion in total assets, we are Canada's leading direct bank. Tangerine offers banking that is flexible and accessible, products and services that are innovative, fair fees, and award-winning client service. From no-fee daily chequing and high-interest savings accounts, GICs, RSPs, TFSAs, mortgages and mutual funds, Tangerine has the everyday banking products Canadians need. With over 1,000 employees in Canada, our presence extends beyond our website and Mobile Banking app to our Café locations, Pop-Up locations and 24/7 Contact Centres. Tangerine was launched as ING DIRECT Canada in 1997. In 2012 it was acquired by Scotiabank, and operates independently as a wholly-owned subsidiary.

For more information, visit tangerine.ca

Follow us on Twitter @TangerineBank.

The 'Tangerine' trademarks are owned by The Bank of Nova Scotia and used under licence.
Forward Banking is a trademark of Tangerine Bank.

SOURCE Tangerine

Video with caption: "Introducing the Tangerine Money-Back Credit Card: Home Improvement & Restaurants". Video available at: https://youtu.be/nJo8ESXNmMA

Video with caption: "Introducing the Tangerine Money-Back Credit Card: Grocery & Gas”". Video available at: https://youtu.be/GtnPGxCM2gk

Image with caption: "Starting today, all Canadians can now apply for Tangerine's new credit card that is offering 4% Money-Back Rewards for the first three months in two categories of choice and 1% Money-Back Rewards on all other purchases, with no annual fee. (CNW Group/Tangerine)". Image available at: http://photos.newswire.ca/images/download/20160329_C1073_PHOTO_EN_652062.jpg

Image with caption: "Starting today, all Canadians can now apply for Tangerine's new credit card that is offering 4% Money-Back Rewards for the first three months in two categories of choice and 1% Money-Back Rewards on all other purchases, with no annual fee. (CNW Group/Tangerine)". Image available at: http://photos.newswire.ca/images/download/20160329_C1073_PHOTO_EN_652065.jpg

Cayley Kochel, Tangerine, 416-497-5157 ext. 4013, [email protected]