How to Decide Which Loyalty Program is Best for YOU

Our most-recent podcast was all about credit cards and loyalty points—in this clip our guest, Barry Choi, explains how to figure out which loyalty program is best for YOU and your goals.

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When I listened to you talk about all this, I realized there’s a lot of information I need to know. Even to stay on top of one, two, three programs. Are there, in essence, tip sheets put out, summary sheets? Do you do that type of thing on your website or on your Instagram account where you say, Hey, here are the four or five key things you need to know about each of these programs?

Yeah, so on Instagram, I talk about it all the time, but we’ll talk about it right now really, really quickly. And so number one thing I tell people is like, think about your goals. Number one. So for a lot of people, it’s travel. They want to earn points to travel for cheap. The question is, where do you want to go? What’s your actual goal? Do you want to go to Europe? Do you want to go to Asia? Do you want to go somewhere? An all inclusive, right? So once you’ve established that, you need to ask yourself, what kind of points will get you there? Right. In most cases, Aeroplane will be the best option.

Next question is, what credit card do I need to sign up for to get me those Aeroplane points to optimize Right. And then simply it’s a matter of like how many points do I need for that redemption? How long is it going to take me to get there? Are there other ways to earn? So it’s really just a three or four step process and for other people sometimes it’s really simple. I just want to save money on groceries.

So, like you said, you collect C points if it happens to be the closest grocery store. Of course, it makes sense. Shop there, right? And Metro. But for PC Optimum, Superstore, Loblaws, NoFrills. What other partners, what other ways can you earn points? Quite often, it’s a credit card. Does that credit card paying an annual fee make sense if you’re earning more points so specifically for scene plus if you have the Scotia Bank Gold Amex it gives you six times the points at Empire old grocery store So you can rack up those points very very quickly.