Tangerine, the direct banking arm of Bank of Nova Scotia, has introduced its new Money-Back Credit Card in Canada.
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The new card, which does not charge any annual fee, will offer 4% money-back rewards for the first three months in two categories of choice and 1% money-back rewards on all other purchases. The categories include restaurants, grocery, gas, entertainment and home improvement.
The new offer is twice 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.
Tangerine said that if customers 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.
Tangerine president and CEO Peter Aceto said: "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.
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By GlobalData"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."
