#6 — Barry Choi: Credit Cards and Loyalty Points—How to Get the Most Value

The Wealthy Barber Podcast

Our guest this episode is Barry Choi, the ultimate expert on all things credit card points and loyalty programs in Canada. You may also know him from his frequent TV appearances or his personal finance website www.moneywehave.com.

In this episode Dave asks Barry everything Canadians need to know about credit card points and loyalty programs including which programs offer the most lucrative sign-up bonuses, tips for how to maximize the value of your points, which card is best for travel and much, much more.

This is a highly informative episode and you’ll be sure to take away a few valuable tips by listening.

Show Notes

00:00 – Intro & Disclaimer

00:56 – Intro to Barry Choi

03:02 – Loyalty Programs and Data

06:35 – Learn a Few Programs Inside Out

08:51 – Transferring Points to Increase Value

10:47 – Credit Card Points as an Employee Benefit

12:04 – Tips to Maximize Points

14:39 – How to Optimize Points for Travel

17:12 – Which Credit Card is Right for You

18:56 – Sign-Up Bonuses

22:16 – Dave’s Reservations About Credit Cards

25:32 – High-Income Canadians with Credit-Card Balances

28:01 – Barry’s Spending

30:02 – When Barry Took His Family to Hong Kong

34:09 – American Express

37:37 – Dave Doesn't Use Airport Lounges

38:26 – Non-Point Benefits

41:20 – The Lifecycle of a Fintech Company

42:25 – Consumerism & Stuff

45:49 – Donating Loyalty Points

46:58 – Fraud with Loyalty Points

48:37 – Conclusion