# 12 – Credit Card Choices

In this episode, the Mechanic, the Accountant, and the Economist discuss credit cards. We’ll sample a few new beers as usual too. If you found this podcast you’re probably familiar with the FI/RE movement that has grown in popularity recently. Here at the FI Garage, we’re all on the path to FI, however, we consider the RE part optional.

*These show notes include affiliate links – donated by an asterisk. (Because we are bad at monetization all of our affiliate links for credit cards are through rate supermarket; if you sign up for a card through our link they split the affiliate fee with us 50/50) – Thanks for helping to support the podcast!

Beer #1 – Glutenberg IPA – Brewed & Bottled in Montreal, QC by Glutenberg Brewing (1:10)
Interesting Product – PayTM (5:50)
  • Click here for the Money Mechanic’s referral code for PayTM* use code PTM6078994.
  • Cashback on your property taxes (6:33)
  • Cashback on electricity (7:03)
  • Payment through mobile (7:40)
  • Paytm gives you points, but they are only worth $0.001 per point (8:40)
  • Pay your Paytm bill with your MasterCard and get MasterCard points (9:50)
  • Rogers Elite MasterCard (11:44)
  • Paytm Canada says that payments usually show up as “Miscellaneous” or “Other”. However, they recommend you to confirm this with your bank/financial institution (or wait for your first bill to find out!).

Credit Cards (15:51)

Beer #2 – Circle Route Hazy Pale Ale – Brewed & Bottled in Nanaimo BC by White Sails Brewing (40:10)
Stupid Money Move (1:03:19)
  • Spending just for the sake of getting points or a bonus. If you don’t need it don’t buy it. Period.
Reading List


  1. Timely for me to listen as I just got my $65 annual renewal fee from Amex, a card we only use rarely as a backup for our main card, MC with Airmiles. I’m going to look into no-fee cards now. Thanks for the info! (P.S. Also, shoutout to The Economist from a 2 economist family!)

    1. I recommend calling Amex to see if they will waive the fee (although in my personal experience Amex are prone to not waiving fees). I’m going to have a look at your site to see what other economists are writing about!

  2. Great episode guys, I will be looking into PayTM.

    I would be interested to know what net % cash back the Economist achieves with his Visa as I also have this card and with my Family’s spending patterns we only achieved 1.5%. This got me looking at other cards and I switched over to the Rogers World Elite (go team Accountant!) earlier this month.

    I also was not proactive enough to request the CC fees be waived on the Visa after our first year which was free so while the .25% extra is nice reducing the fees down to 0 is be bigger win.

    1. I think since the time of recording PayTM has removed the ability to pay property taxes through their service. Not sure if this applies everywhere but something to look into as that was a major benefit.

      The Rodger World Elite seems like one of the best bets going right now. I also just got the CIBC Aventura Visa Infinite to get 4 free airport lounge passes per year, first year fee waived and a bonus $120 credit. A nice bonus if you have some travel coming up.

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