The video is a personal finance update from the YouTuber, Lispman, detailing their debit and credit card usage and strategy for 2025. The video is structured chronologically, moving from an introduction to a review of their debit cards, followed by their credit cards, an unboxing of two new cards, and finally their overall strategy.
I. Introduction (0:00-0:30): The video begins with a brief overview of the past year and a half spent reviewing, cutting up, and testing various credit cards both domestically and internationally. The speaker previews the contents of their wallet and their debit/credit card strategy for 2025, including an unboxing of two new cards.
II. Debit Cards (0:52-3:31): The speaker reviews their debit cards in order of least to most used.
- PC Money Account Debit Card: Used infrequently, primarily for online bill payments due to Optimum points earned.
- Tangerine Debit Card: Seldom used since discontinuing their Tangerine Mastercard; maintained due to its free account status and occasional promotional interest rates.
- EQ Bank Card: Formerly the main debit card until Wealth Simple offered free ATM withdrawals. It's considered slightly inferior to the Wealth Simple card.
- Simply Financial Debit Card: Used more often than the Tangerine card because Simply Financial offers a better credit card than Tangerine. Primarily used for depositing money from sales of personal items.
- Wealth Simple Cash Card (Prepaid Mastercard): The most frequently used card. Offers 1% cashback, no foreign transaction fees, and free ATM withdrawals in Canada and select ATMs in Asia. The speaker highlights its use for ATM withdrawals in Asia, avoiding currency conversion booths.
III. Credit Cards (4:35-7:47): The speaker reviews their credit cards, again in order of least to most used.
- Tangerine World Mastercard: Still okay, but overshadowed by other cards.
- RBC Cashback Mastercard (Supplementary): Used to maintain the RBC Value Program, which offers a free basic chequing account with a $500 investment and credit card usage (requiring transactions every 90 days).
- Triangle World Elite Mastercard: Used mostly online for bill payments (utility, property taxes), offering 1% return on these transactions.
- PC World Elite Mastercard: Primarily used at Shoppers Drug Mart for a 4.5% return.
- Scotia Bank Passport Visa Infinite: Used for travel to Asia, offering six free lounge accesses, no foreign transaction fees, and increased rewards at restaurants abroad. Lounge experiences are described as overcrowded.
- Simply Visa Cashback: Provides 4% cashback at restaurants domestically. High reward percentage.
- Rogers Mastercard (Supplementary): Most frequently used card due to the speaker's wife's Rogers plan, which makes it cost-effective.
IV. Credit Card Unboxing (7:50-9:09): The speaker unboxes two new cards that alter their strategy:
- Rogers Red World Elite Mastercard: Similar to their existing Rogers Mastercard but with better insurance packages (lacking mobile insurance).
- BMO Rewards World Elite Mastercard: Offers 5% cashback on groceries and restaurants, making the Simply Visa cashback card less important. Also provides 5% cashback at Walmart and T&T Supermarket.
V. Debit and Credit Card Strategy 2025 (9:11-10:36):
- Debit Card Strategy: Wealth Simple Cash Card for withdrawals, Simply Financial for deposits.
- Credit Card Strategy: Rogers Red World Elite for general purchases, BMO Rewards for groceries/restaurants, PC World Elite for Shoppers, RBC Cashback card (quarterly use), and potential cancellation of Scotia Bank Passport Visa Infinite.
The video concludes with a call to like, subscribe, and mentions other content on the channel.
