# Tangerine - do I need another credit card?



## Chica (Jan 19, 2016)

I received this email today from Tangerine:

_We're pleased to let you know that you've been pre-approved for a Tangerine Money-Back Credit Card with a credit limit of $14,000.
Could you be saving money on credit card interest?
If you have a balance you owe on another credit card, transfer it to a Tangerine Money-Back Credit Card and pay our low promotional interest rate of 1.95% on that balance for 6 months*.
It may be the only Credit Card you really need.
Here's some of what makes it such a great Credit Card:
•	No annual fee
•	Earn 2% Money-Back Rewards on purchases in two 2% Money-Back Categories of your choice (chosen from 10 categories), and 0.50% Money-Back Rewards on all other purchases
•	Have your Money-Back Rewards deposited into a Tangerine Savings Account, and get a 3rd 2% Money-Back Category
•	No limit on the amount of Money-Back Rewards you can earn_

I did not initiate any contact with Tangerine about any more services from them. The last time I was in contact with them was a few months ago and I was pissed off about their log in page that has amnesia. 

I have 3 credit cards totaling over $50,000 in credit, kind of an emergency fund. No debt, except for some dog supplements and vitamins I bought online last month and the bill hasn't come in yet, just over $100. I rotate my credit cards with small online purchases every month or two to keep them active. 2 of my credit cards have higher limits than what Tangerine is tempting me with. And I have one Visa with less credit, $9000, though TD has been bugging me for years to up it on a pre-approved increase I think of around $12,000 or so. I keep telling them no.

Is getting another credit card something I should look at. Any benefits to having a bunch of available credit? This would put my credit card limits in 70,000 range, but what kind of emergencies would I need all that credit? I have no balance that I'd transfer over. What's the point when it's a small balance I can pay off when the bill comes in? I'm no spender so I'm not worried about going out shopping with a new credit card. 

Anyone else get this offer?

Should I just delete this email?


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## fatcat (Nov 11, 2009)

Chica said:


> I received this email today from Tangerine:
> 
> _We're pleased to let you know that you've been pre-approved for a Tangerine Money-Back Credit Card with a credit limit of $14,000.
> Could you be saving money on credit card interest?
> ...


keep in mind that, to the best of my knowledge, your total available credit will affect your credit score negatively ... 

unless you have some specialized need i would pass on the new card ... 

if you were rotating debt or the card offered rewards that were compelling it might be worth it ... 

but otherwise i would pass


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## cashinstinct (Apr 4, 2009)

You can lower limit on existing cards if that's an issue for you.

You can also probably ask Tangerine for a lower limit.

What kind of rewards do you have on your other cards?

2% Tangerine on 2 categories (3 if you make your rewards deposit in a Tangerine saving account) can be interesting...

0.5% rewards on other purchases is bad though.

It depends on how much an optimizer you are and if you want to use multiple cards depending on category of purchase.


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## Chica (Jan 19, 2016)

Thanks for the opinions. Yes, the 2% deposit into a Tangerine account is about the only appealing thing of the credit card. It says the pre-approval is only available until Sept 5 but somehow I think this credit card offer will be available to me after that date, just that 1.95% 6 month low interest goes away. Not that I'd have charged enough to drag out a payment that long. There doesn't seem to be a really great reason for me to take out another credit card.


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## OhGreatGuru (May 24, 2009)

There are other threads on the same theme. Very few people have a need for more than 2 or 3 credit cards. Those who do are usually doing it for "accounting" purposes to keep separate accounts for business vs. personal; separate accounts between spouses, etc. Having a lot of cards unnecessarily is actually a red flag for credit ratings.

The "6 month offer" is a common come-on by credit card companies to get your business.

Just ignore the offer: or see if you can change your profile on your Tangerine account so they don't send you solicitations.


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## AltaRed (Jun 8, 2009)

A person shouldn't need more than one Visa and one MC card. It is best to have 2 cards in case one is compromised, and thus one of each is best for those places that only accept one or the other, e.g. Costco. I see these card solicitations all the time. Ignore the ones that don't interest you.


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## SW20 MR2 (Dec 18, 2010)

I use 3 to maximize my cashback:

Tangerine - Kept in a drawer and only used for recurring bills (eg. Bell, Telus, etc). Earn 2% on all this, and I like that I get the money every month.
Cap One Costco - Used at restaurants only to earn 3%.
BMO World Elite - Used for everything else. Earn 2% in travel rewards.

The combo works awesome for me. The first 2 are no fee, and the last is normally fee-based, but it's no fee for me because of the banking package I have with BMO.


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## kcowan (Jul 1, 2010)

Also you need a no FX card if you spend anytime abroad. They do not offer great cashback but the 2.5% is pretty nice. We have the Westjet MC because of the $299 partner flight each year. Adding in the fee still ends up saving a couple of $100 every year.


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## Chica (Jan 19, 2016)

I deleted the email from Tangerine. I really don't need another credit card that I'll put in my drawer to avoid using.

For many years I only had one Visa, first with Scotiabank and then I cancelled that card when I got my TD Visa, so we're talking 30 years. Back then I didn't know cancelling a credit card might affect my credit score. I don't think it had any adverse affects on me. Then I worked for the head office at a credit union and about 15 years ago when I was getting a car loan the staff told me they were having some kind of contest with signing up to their Mastercard so I took them up on that. I guess to help her out but I'm really fuzzy on what the contest details are. When that place laid me off about 10 years ago I closed all my accounts, paid the balance off on that loan, and took my safety deposit box contents elsewhere. No balance on the MC, probably partly due to my general boycott of them. My revenge is that they also talked the deadbeat into getting a card and he maxed it out and is hiding where they can't find him. The last Visa was when I had a mortgage at RBC and they sent me a pre-approved letter, so I've had this card 10 years at the most. The mortgage was joint in the deadbeat's name but RBC seemed smart enough not to send him a similar letter! LOL! 

I also had a Home Depot card with an $8000 limit, that you guessed it mostly sat unused, but when I phoned in a couple of years to change my address I found they dropped my limit to $500. The guy I talked to said that was to protect me from fraud (me? LOL!) and I could bump it back up anytime. I had a better plan and cancelled it. I have no gas cards or department store cards.

I've almost been thinking of getting a gas card at Husky because I always fuel up there to get my BCAA points. Almost. As most people can probably tell I'm a little reluctant to get into credit card debt except for small Internet purchases, and that's mostly to keep the cards active.


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## Chica (Jan 19, 2016)

Tangerine just sent me a letter too with the same offer. The email wasn't enough? I thought part of online banking was to be environmentally friendly and save time and money. When you consider the cost of postage, materials, and staff who handled it, that probably cost $5.


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## Chica (Jan 19, 2016)

Just got hit with another email from Tangerine enticing me to get their credit card pre-approved with $14,000 limit. They must be pretty desperate. This time I have until March 15 to apply. It's been a year and a half since I last logged on to my online banking there so it's not like I'm doing anything to indicate interest in their card. Interesting it doesn't say if this is a Visa or Mastercard.

We’re pleased to let you know that you’ve been pre-approved for a Tangerine Money-Back Credit Card with a credit limit of $14,000.
Could You Be Saving Money on Credit Card Interest?

If you have a balance you owe on another credit card with a high interest rate, transfer it to a Tangerine Money-Back Credit Card and pay our low promotional interest rate of 1.95% on that balance for 6 months and 19.95% on any unpaid balances after 6 months.* This low interest rate means you can save more money, which can help you pay off balances faster. (Please note: A 1% Balance Transfer Fee applies on the amount transferred.)

Here’s What Makes It Such a Great Credit Card:
• No annual fee 
• Earn 2% Money-Back Rewards on purchases in two 2% Money-Back Categories of your choice (chosen from 10 categories), and 0.50% Money-Back Rewards on all other purchases
• Have your Money-Back Rewards deposited into a Tangerine Savings Account, and get a 3rd 2% Money-Back Category
• No limit on the amount of Money-Back Rewards you can earn


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## Joe Black (Aug 3, 2015)

This is just normal marketing that every company does, it is not a sign of desperation. It costs them virtually nothing to send off emails to people they have made offers to before. If even just 1% change their mind it was worth the effort on their part.

Your posts are actually good advertising for them. Someone reading them might think that sounds like a good deal and sign up for them. So even if you decline again, their email to you is of benefit to them.


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## dotnet_nerd (Jul 1, 2009)

I cannot stand their new website. I'd like to close my account just for that reason alone


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## Dilbert (Nov 20, 2016)

I just signed up with them last Wednesday and completed the ID check at Canada Post, same day. I still can’t access my accounts because it can take up to 24 business hours! OMG!


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## Chica (Jan 19, 2016)

I got a letter from them too with the credit card offer in the mail yesterday. 

I don't know why it takes so long for Tangerine to let people access their accounts. I suppose it's not just Tangerine. I had the same thing with Questrade. You have my money. Just let me get it. What's the hold up?


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