The Capital One Aspire Travel World Elite MasterCard offers arguably the best value for everyday travellers. The flagship credit card from Capital One has been one of the top travel rewards cards in Canada for many years, and a recent facelift made it even better.
I’ve been using the Aspire Travel World Elite MasterCard for several years now and this latest update – which removed the tiered redemption structure and made it incredibly simple to redeem miles – further cemented its claim as the go-to rewards credit card for all of my spending, including when I travel.
What’s so special about the Capital One Aspire Travel World Elite MasterCard? For starters, new sign-up’s get a 40,000 reward mile bonus when they spend $1,000 in the first 3 months. That’s worth $400 in travel rewards! Cardholders also get 2 reward miles for every $1 spent – regardless of spending category. That means your points will continue to add up quickly even after the early-spend bonus becomes a distant memory.
What about redeeming your reward miles? Most travel rewards programs are inflexible when it comes to redemptions; forcing members to book through a specific travel provider, putting up restrictions on when and where you can book, and then adding fuel surcharges and taxes onto your bill.
With Capital One’s Aspire Travel program you can use your card to book with any airline or hotel and then simply redeem your miles online afterwards. There are no tiers – for example if you redeem a charge for $149 it will cost you 14,900, and if you redeem a charge for $550 it will cost you 55,000.
Don’t have enough reward miles to erase that $550 travel charge? No problem! Just make a partial redemption against that charge with the miles that you have. In this case, you might only have 39,500 miles, which means you can make a partial redemption of $395 and apply against the $550 charge.
That’s why I’ve declared the Capital One Aspire Travel World Elite MasterCard to be the best value for everyday travellers today and why I now funnel all of my spending onto this card to reap the juicy rewards.
Capital One Aspire Travel World Elite MasterCard benefits
Here’s what this best in class travel rewards credit card has to offer:
• Early-spend bonus: 40,000 points = $400 in travel rewards once you spend $1,000 within the first 3 months
• Earn rate: 2 reward miles for every $1 spent = 2% back in travel rewards
• Booking travel: Book your own trip – including the hotel, airline or rental car of your choice
• Points redemption: Redeem your miles to cover any travel expenses with no minimum requirements. 100 points = $1 in travel.
• Partial redemption: Redeem on a portion of a transaction – for example, redeem half of an overseas flight.
• Annual fee: $150
• Interest rate: 19.8% interest on card purchases
• Additional card fee: $0 additional card fee
• Insurance: 22-day travel emergency medical coverage, trip cancellation, trip Interruption, flight delay, baggage loss, baggage delay, purchase assurance, extended warranty, and car rental
• Eligibility: $70,000 personal annual income OR $120,000 annual household income
How much can you earn with the Capital One Aspire Travel World Elite MasterCard?
• Spend $2,000 on your card each month
• Earn $480 in travel rewards each year
• Add $400 travel rewards early-spend bonus in the first year
• = $880 travel rewards this year
Many of the top travel rewards credit cards offer a generous sign-up bonus but the everyday value of the program, combined with the hassle and difficulty of redeeming points, fails to live up to the early hype.
With the Capital One Aspire Travel World Elite MasterCard, you get the best of both worlds. A generous early-spend bonus, plus a healthy 2% earn rate on everyday spending that keeps points accruing quickly. The best part is how easy it is to redeem points. After all, there’s not much point to earning reward miles if you can’t use them when, where, and how you want to.
At last, the long awaited Tangerine Money-Back Credit Card is now available to the general public. This no-fee MasterCard is Tangerine’s first foray into the credit card space, and it’s packed with juicy rewards and benefits that you might only find in an annual fee card.
Of course, the bank that first wanted us to, “save your money” added a unique twist to its rewards program. Like any cash-back credit card, Tangerine’s Money-Back cardholders earn cash back rewards on every purchase. You get 2% cash back in two categories of your choice, and 1% cash back on every other purchase.
The twist is that cash back rewards can then be automatically deposited back onto their credit card as a statement credit, or sent directly into their Tangerine Savings Account each month. 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, for a total of three.
Tangerine Money-Back Credit Card features
Tangerine’s Money-Back Credit Card is now open to all Canadians to apply after a successful preview phase launched in October 2015 that saw 108,000 people register for the chance to apply and 32,000 people participate in the card preview.
The new MasterCard is offering a bonus of 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. Again, those cardholders who choose to transfer their Money-Back Rewards into their Tangerine savings account will earn an third 4% category for the first three months.
Money-Back categories are incredibly broad and include groceries, gas, restaurants, hotel, drug store, home improvement, entertainment, parking, furniture, and recurring bills.
Key Features at a Glance
- No annual fee
- Unlimited Money-Back Rewards
- 4% Money-Back Rewards (regularly 2%) on purchases in two chosen categories and 1% Money-Back Rewards on all other purchases for the first three months
- Clients will receive three categories at 4% if they choose to redeem their Money-Back Rewards into a Tangerine Savings Account
- Automatic monthly redemption of Money-Back Rewards into a Tangerine Savings Account or towards the Credit Card balance
- Pause My Card feature allows Clients to temporarily suspend use of their card if it’s been misplaced
- Easy credit limit adjustments online
- Easy online travel notification feature
- Ongoing automatic Pay My Balance feature (minimum payment or entire balance)
- Customizable email Orange Alerts to keep Clients up-to-date on what’s happening in their Account
Additional Card Benefits:
- 1.5% Foreign Conversion Fee – one of the lowest in market
- Free Cards for Authorized Users on your Account
- Purchase Assurance and Extended Warranty – For most new purchases made anywhere in the world using your Tangerine Money-Back Credit Card, you may receive a lifetime maximum of up to $60,000 for the following insurance coverage:
- Purchase Assurance, which may automatically cover loss, theft or damage, in excess of other insurance, for 90 days from the date of purchase; and
- Extended Warranty, which may double the period of repair services, to a maximum of one additional year, when the original manufacturer’s warranty expires.
Interest on overdue balances and cash advances is 19.95%. Cash advances come with a $2.50 charge in Canada and a $5 charge outside of Canada.
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. I played this morning and won a $5 Starbucks e-gift card.
Share Tangerine’s Money-Back Game with your friends on Twitter using the hashtag #tangerinemoneyback and you’ll be entered to win even more prizing related to Tangerine’s Money-Back Credit Card categories: a $500 grocery gift card, a $250 gas gift card or a $250 home improvement gift card.
Tangerine promised a game changing rewards card that stuck to its core values. With the Tangerine Money-Back Credit Card, cardholders get all of that and more with a no-fee cash back credit card that encourages saving by offering an additional bonus when rewards are transferred into a Tangerine savings account. It’s a clever marketing tactic that’s sure to lure customers into opening a savings account to activate the extra bonus category.
To determine whether the Tangerine Money-Back Credit Card comes out ahead of other no-fee cards, such as the SimplyCash Card by American Express, or the PC Financial World Elite MasterCard, you’ll need to determine which categories you spend the most in your budget.
All-in-all, Tangerine delivers with a solid no-fee cash back rewards card that pays above the going market rate of 1% back and uses some aspects of gamification to make spending, saving, and earning rewards fun. The 4% Money-Back Rewards bonus offer for the first three months is just icing on the cake.
Click here to apply or learn more about the Tangerine Money-Back Credit Card.