Quick overview of the ATB Gold Cash Rewards Mastercard®
While some cards go out of their way to bamboozle you with complex offerings and titillating tiering options, the ATB Gold Cash Rewards Mastercard® goes in exactly the opposite direction – it’s a no frills cash back card offering residents of Alberta 1% cash back on all purchases.
For fans of a no annual fee card, I can see the appeal. But it doesn’t exactly get your blood pumping. On top of that, you only receive your cash back rewards once a year in January, as a statement credit. So is the ATB Gold Cash Rewards Mastercard® worth your consideration?
Who’s the ATB Gold Cash Rewards Mastercard® for?
This card is for someone who is profoundly disinterested in playing the credit card game. Picture this – you’ve got a friend who lives in Alberta who’s afraid of credit cards and the debt risk they pose, so they stick to their debit card, which nets them no rewards. As an act of benevolence, you insist they get a card that at least gives them something. The ATB Gold Cash Rewards card may be the single least intimidating card I can conceive of, and it’s not a bad place to dip your toes in.
Pros and cons
Pros
-
No annual fee
-
Unlimited 1% cash back on all purchases
-
Essential insurance protections
Cons
-
Limited eligibility: only available to Alberta residents
ATB Gold Cash Rewards Mastercard® welcome bonus
No welcome bonus here – that would be a frill! And there are no frills to be found on this card.
How to earn cash back with the ATB Gold Cash Rewards Mastercard®
Writing about this card is fun, because it’s so easy to describe. There’s no tricks to it – spend however you want, wherever you want and you’ll earn 1% cash back on all purchases. As an added bonus, there’s no limit to the cash back, so feel free to spend with wild abandon (okay, some financial prudence is advisable – it is, after all, only 1% cash back.)
How to redeem cash back
Luckily, there’s nothing you have to do to redeem cash back – it’s automatically applied to your statement every year in January. That’s a bummer if you wanted that cash back sooner (or, as you know, cash) but at least it’s a no-brainer.
ATB Gold Cash Rewards Mastercard® key benefits
- Straightforward cash back card with 1% cash back on all purchases regardless of category
- Decent insurance protection for a no-annual-fee card
ATB Gold Cash Rewards Mastercard® insurance coverage
Here are the current insurance limits:
Extra benefits of the ATB Gold Cash Rewards Mastercard®
There’s not much in the way of “extra” to this card, but one additional perk is a 25% discount at participating Avis and Budget car rental locations.
How the ATB Gold Cash Rewards Mastercard® compares
ATB Gold Cash Rewards Mastercard® vs. BMO CashBack® MasterCard®
5% cash back
Welcome Bonus
$526
First Year Value
$401
Annual Value
Welcome Bonus: Get 5% cash back in your first 3 months* Expires Jun 01, 2025
Get this card if you...
-
want to earn cash back on everyday purchases
-
value the flexibility to redeem cash back at any time
-
value a great welcome offer
Annual Fee & Annual Interest Rates
$0
Annual Fee
21.99%
Purchase
23.99%
Cash Advance
23.99%
Balance Transfer
-
Our Take
BMO CashBack® Mastercard®* ReviewThe BMO CashBack® Mastercard®* is a no-annual-fee credit card that allows cardholders to earn cash back on everyday purchases, with elevated rates for categories such as groceries and recurring bill payments. It offers flexible redemption options and includes benefits like purchase protection and extended warranty.
Eligibility
Good (620 - 670)
Recommended Credit Score
$15,000
Required Annual Personal Income
-
Pros
-
No Annual Fee: A rare find in Canada for a cash back card
-
A generous 3% cash back on groceries (up to $500 monthly)
-
Easily redeem from $1, set up automatic redemptions, or use as a statement credit
-
Additional perks include discounts on rentals, free supplementary cards and show discounts
Cons
-
Outside of groceries and recurring payments, the standard earn rate drops to 0.5%
-
Monthly caps on top earn rates for groceries and recurring payments
-
A 2% balance transfer fee applies
-
The interest rate on the remaining balance transfer amount increases after the introductory period
-
-
Annual Interest Rates
21.99%
Purchase
23.99%
Cash Advance
23.99%
Balance Transfer
0.99%
Balance Transfer (Introductory)
Fees
$0
Annual Fee
-
Rewards cash back
3%
Cardholders earn 3% (up to a monthly max of $500) cash back on groceries
1%
Cardholders can earn 1% (up to $500 per month) on any recurring bill payments*
0.5%
Cardholders can earn 0.5% (no monthly max) on all other eligible purchases*
-
Get up to 5% cash back in your first 3 months‡‡ and a 0.99% introductory interest rate on Balance Transfers for 9 months with a 2% transfer fee.§§
Our Take
The BMO CashBack® Mastercard®* is a no-annual-fee credit card that allows cardholders to earn cash back on everyday purchases, with elevated rates for categories such as groceries and recurring bill payments. It offers flexible redemption options and includes benefits like purchase protection and extended warranty.
Eligibility
Good (620 - 670)
Recommended Credit Score
$15,000
Required Annual Personal Income
Pros
-
No Annual Fee: A rare find in Canada for a cash back card
-
A generous 3% cash back on groceries (up to $500 monthly)
-
Easily redeem from $1, set up automatic redemptions, or use as a statement credit
-
Additional perks include discounts on rentals, free supplementary cards and show discounts
Cons
-
Outside of groceries and recurring payments, the standard earn rate drops to 0.5%
-
Monthly caps on top earn rates for groceries and recurring payments
-
A 2% balance transfer fee applies
-
The interest rate on the remaining balance transfer amount increases after the introductory period
Annual Interest Rates
21.99%
Purchase
23.99%
Cash Advance
23.99%
Balance Transfer
0.99%
Balance Transfer (Introductory)
Fees
$0
Annual Fee
Rewards cash back
3%
Cardholders earn 3% (up to a monthly max of $500) cash back on groceries
1%
Cardholders can earn 1% (up to $500 per month) on any recurring bill payments*
0.5%
Cardholders can earn 0.5% (no monthly max) on all other eligible purchases*
This is a great example of how a better card may not be better for everyone. Because the BMO CashBack® Mastercard® is better than the ATB Gold Cash Rewards Mastercard®, in my opinion. With 3% (up to a monthly max of $500) cash back on groceries, 1% cash back on recurring bill payments such as streaming services, subscriptions or monthly utilities and 0.5% on everything else, it means there’s much higher earning potential for the BMO than the ATB card.
That said, maybe you don’t buy groceries (you’d be an oddity for sure, but with the price of produce these days, I can hardly blame you). Maybe you don’t have recurring bills. Maybe 0.5% cash back on all other purchases doesn’t inspire you. More than likely though, you’re just someone who doesn’t want to minimize-maximize their spending habits, and in that case the ATB Gold may appeal more than the BMO CashBack.
Disclosures:
- *Terms and conditions apply.
- BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information.
ATB Gold Cash Rewards Mastercard® vs.Tangerine Money-Back Credit Card
$484
First Year Value
$384
Annual Value
Welcome Bonus: Get a bonus 10% cash back for the first 2 months – up to $100. Plus, a 1.95% promotional balance transfer interest rate for the first 6 months.
Get this card if you...
-
want flexible cash back categories
-
want unlimited cash back
-
want to avoid paying an annual fee
Annual Fee & Annual Interest Rates
$0
Annual Fee
19.95% - 24.95%
Purchase
19.95%
Cash Advance
1.95% - 19.95%
Balance Transfer
-
Our Take
Tangerine Money-Back Credit Card ReviewThe Tangerine Money-Back Credit Card is a no-annual-fee cash back card that allows cardholders to earn a higher cash back rate in two spending categories of their choice, such as groceries, gas, or restaurants, and a lower rate on all other purchases. By opening a Tangerine Savings Account and directing cash back earnings there, a third higher rate cash back category can be added. Additional benefits include purchase assurance and extended warranty protection, with cash back rewards automatically applied monthly.
Eligibility
Good (620 - 670)
Recommended Credit Score
$12,000
Required Annual Personal Income
-
Pros
-
No annual fee
-
Choose the spending categories where you want to earn the most cash back
-
Unlimited cash back—no maximum spending limit for any purchase category
-
Cash back is paid out monthly rather than annually
-
Periodically includes a special welcome offer where you can get extra cash back
-
1.95% interest on balance transfers for the first 6 months (1% transfer fee applies)*
Cons
-
Regular cash back rates are still lower than what you can get from a card with an annual fee
-
Limited extra perks or benefits beyond the cash back and balance transfer promotion
-
Generally not a good fit for shopping at warehouse clubs or wholesale grocers like Costco or Walmart
-
Tangerine does not have any physical bank branches
-
-
Annual Interest Rates
19.95% - 24.95%
Purchase
19.95%
Cash Advance
1.95% - 19.95%
Balance Transfer
1.95%
Balance Transfer (Introductory)
24.95%
Penalty
Fees
$0
Annual Fee
$2.5
Foreign Transaction
3.00%
Balance Transfer
$3.5
Cash Advance
$25
Over The Limit Penalty
$25
Return Penalty
-
Rewards cash back
2%
Earn 2% cash back on 2 categories of your choice (e.g. groceries, recurring bills, gas, drug stores, etc.)
3
Get a Tangerine Savings account and add a 3rd 2% cash back category.
0.5%
Earn 0.50% on all your other everyday purchases.
-
Get a bonus 10% cash back – up to $100. Applies to purchases in your first 2 months. Plus, a 1.95% promotional balance transfer interest rate for the first 6 months.
The Tangerine 10% Limited-time Promotional Offer (the “Offer”) is only available to new Tangerine Credit Card Account holders who (i) apply for a Tangerine World Credit Card (the “Account”) by January 31, 2025, (ii) activate their Account within 45 days of approval, and (iii) have up to a maximum of $1,000 in total Net Purchases posted to their Account within the 60-day period beginning on the date the Tangerine World Credit Card is activated. Limit of one Offer per eligible Client. This Offer is non-transferable. Offer may be changed, cancelled or extended at any time. All other Account terms, including the Tangerine Money-Back Rewards program terms, remain unchanged and continue to apply. See the Tangerine Credit Card Cardholder Agreement for more details, including definitions of any capitalized terms.
Our Take
The Tangerine Money-Back Credit Card is a no-annual-fee cash back card that allows cardholders to earn a higher cash back rate in two spending categories of their choice, such as groceries, gas, or restaurants, and a lower rate on all other purchases. By opening a Tangerine Savings Account and directing cash back earnings there, a third higher rate cash back category can be added. Additional benefits include purchase assurance and extended warranty protection, with cash back rewards automatically applied monthly.
Eligibility
Good (620 - 670)
Recommended Credit Score
$12,000
Required Annual Personal Income
Pros
-
No annual fee
-
Choose the spending categories where you want to earn the most cash back
-
Unlimited cash back—no maximum spending limit for any purchase category
-
Cash back is paid out monthly rather than annually
-
Periodically includes a special welcome offer where you can get extra cash back
-
1.95% interest on balance transfers for the first 6 months (1% transfer fee applies)*
Cons
-
Regular cash back rates are still lower than what you can get from a card with an annual fee
-
Limited extra perks or benefits beyond the cash back and balance transfer promotion
-
Generally not a good fit for shopping at warehouse clubs or wholesale grocers like Costco or Walmart
-
Tangerine does not have any physical bank branches
Annual Interest Rates
19.95% - 24.95%
Purchase
19.95%
Cash Advance
1.95% - 19.95%
Balance Transfer
1.95%
Balance Transfer (Introductory)
24.95%
Penalty
Fees
$0
Annual Fee
$2.5
Foreign Transaction
3.00%
Balance Transfer
$3.5
Cash Advance
$25
Over The Limit Penalty
$25
Return Penalty
Rewards cash back
2%
Earn 2% cash back on 2 categories of your choice (e.g. groceries, recurring bills, gas, drug stores, etc.)
3
Get a Tangerine Savings account and add a 3rd 2% cash back category.
0.5%
Earn 0.50% on all your other everyday purchases.
Get a bonus 10% cash back – up to $100. Applies to purchases in your first 2 months. Plus, a 1.95% promotional balance transfer interest rate for the first 6 months.
The Tangerine 10% Limited-time Promotional Offer (the “Offer”) is only available to new Tangerine Credit Card Account holders who (i) apply for a Tangerine World Credit Card (the “Account”) by January 31, 2025, (ii) activate their Account within 45 days of approval, and (iii) have up to a maximum of $1,000 in total Net Purchases posted to their Account within the 60-day period beginning on the date the Tangerine World Credit Card is activated. Limit of one Offer per eligible Client. This Offer is non-transferable. Offer may be changed, cancelled or extended at any time. All other Account terms, including the Tangerine Money-Back Rewards program terms, remain unchanged and continue to apply. See the Tangerine Credit Card Cardholder Agreement for more details, including definitions of any capitalized terms.
The Tangerine Money-Back card is not only one of my conceptually favourite cash back cards, it’s also my daily spender. The flexible categories means you can choose what nets you 2% cash back, and you can have three of them if your cash back gets deposited monthly into a (free) Tangerine savings account – another bonus in my opinion.
This is clearly superior to the ATB Gold Cash Rewards Mastercard®. But again, if you don’t want to think about categories, the ATB card takes all the guesswork out of the equation.
ATB Gold Cash Rewards Mastercard® vs. Vancity enviro Visa Infinite* Card
$0
First Year Value
$0
Annual Value
Annual Fee & Annual Interest Rates
$120
Annual Fee
19.5%
Purchase
-
Eligibility
Good (620 - 670)
Recommended Credit Score
$60,000
Required Annual Personal Income
$100,000
Required Annual Household Income
-
Pros
-
Community-oriented reward system
-
Environmental contributions
-
First year fee waived
Cons
-
Points are relatively low value
-
$120 annual fee
-
-
Annual Interest Rates
19.5%
Purchase
Fees
$120
Annual Fee
0.00%
Balance Transfer
-
Rewards
10
points for every $1 spent at select local businesses.
5
points for every $1 spent on public transit and ferries.
2.5
points for every $1 spent on groceries.
1.25
points for every $1 spent on all other purchases.
2x
the points when booking travel through Vancity Rewards.
Insurance Benefits
$1,000
Mobile device insurance amount
$500,000
Travel accident insurance amount
Eligibility
Good (620 - 670)
Recommended Credit Score
$60,000
Required Annual Personal Income
$100,000
Required Annual Household Income
Pros
-
Community-oriented reward system
-
Environmental contributions
-
First year fee waived
Cons
-
Points are relatively low value
-
$120 annual fee
Annual Interest Rates
19.5%
Purchase
Fees
$120
Annual Fee
0.00%
Balance Transfer
Rewards
10
points for every $1 spent at select local businesses.
5
points for every $1 spent on public transit and ferries.
2.5
points for every $1 spent on groceries.
1.25
points for every $1 spent on all other purchases.
2x
the points when booking travel through Vancity Rewards.
Insurance Benefits
$1,000
Mobile device insurance amount
$500,000
Travel accident insurance amount
The Vancity enviro™️ Visa Infinite* Cardis another regional credit card that offers decent points for a reasonable annual fee. Earn 10 points for every $1 spent at select local businesses, 5 points for every $1 spent on public transit and ferries, 5 points for every $1 spent on public transit and ferries and 1.25 points for every $1 spent on all other purchases.. Prefer to travel? You'll get 2x the points when booking travel through Vancity Rewards..
Is the ATB Gold Cash Rewards Mastercard® worth it?
This card isn’t for me. Literally – as a credit card reviewer, I’m into the nitty gritty, and always looking for new ways to maximize my rewards. A straightforward, no-thinking-required 1% cash back card just doesn’t hold much appeal.
But if you’re looking for a card that you can keep as a free back up, or a daily driver you don’t want to consider at all (and you live in Alberta), I can see why you’d give the ATB Gold Cash Rewards Mastercard® your consideration.
ATB Gold Cash Rewards Mastercard® eligibility criteria
So long as you’re a resident of Alberta, the eligibility requirements of the ATB Gold Cash Rewards Mastercard® are straightforward. You must be 18 years old, use the card only for personal use and not have declared bankruptcy in the last five year
Disclosures:
Terms and Conditions Apply
FAQs
Cam is a content marketer with a passion for saving, financial independence, and pulling off elaborate credit card point schemes. He has worked in Fintech and Finserve (specifically Group Retirement) and loves researching and writing about finance.
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†Terms and Conditions apply.