The Globe and Mail reports in its Wednesday edition Scotiabank's Tangerine unit has announced it will launch its first credit card as the on-line bank takes a significant step toward offering a complete slate of financial services. The Globe's David Berman writes the MasterCard credit card is designed to fit with the bank's no-fee brand: There is no annual fee and it offers money-back rewards that are deposited automatically into a savings account. Canadian banks have been increasing their exposure to credit cards in recent years. As higher-yielding assets, they look particularly attractive in an environment where interest rates are low. As well, cards are seen as important tools for attracting new clients and selling them additional services. Bank of Nova Scotia has expanded its card offerings in Panama and Costa Rica, through a deal to acquire Citigroup's retail and commercial operations in both countries. Tangerine card initially would be targeted toward existing customers of the bank, which number about two million. Officials at Tangerine say the bank will continue to offer additional financial products after its credit card rolls out, but they would not provide details on what is being developed.