The Personal Finance Show

The Personal Finance Show is a place for people to tell their personal finance stories. Everyone has a personal finance story.

16 - Stephen Weyman

January 23rd, 2018


Stephen Weyman knows a lot about credit cards.


In my opinion, credit cards should only be used in one way:  I think you should only buy something with a credit card if that money is sitting in your bank account right now.

Credit cards are not for borrowing.

Please don't use credit cards for borrowing.

There are times in our lives when we need to borrow money. But credit cards are one of the worst tools for borrowing. The interest rate is way too high.

So just promise me that if you ever really need money, right now, and you're thinking about borrowing it with a credit card, look at other options first.

Maybe a loan or a line of credit with a lower rate.

Just look at other options and only borrow with a credit card as a last resort. Credit cards are a tool for convenience and benefits.

Now that you have agreed to only spend money you have in the bank, I can introduce you to Stephen Weyman and his new website called Credit Card Genius.

There are so many options when it comes to getting a credit card.

Before I talked to Stephen, I would have told you to never get a credit card with an annual fee.

You know I hate fees.

But what if the benefits you get when you use the card are much higher than the annual fee?

Example: Before I owned a car I rented cars all the time. Many credit cards come with collision and damage coverage if you book the rental car with the card. If you don't have a card with collision and damage coverage, the rental company will charge you $30 per day. That's an extra $210 on a rental for just a week. So if you rent a car for a week, even once a year, maybe a $99 annual fee on a credit card isn't so bad.

This is just one example of a credit card benefit. But there are so many that trying to remember them is making my brain hurt.

That's where Stephen and Credit Card Genius can help.

For over 7 years Stephen has been the mastermind behind the website And while he included credit card reviews on, he realized the world of credit card selection was complex and needed its own space.

So Stephen found all of the credit card options in Canada and put them on one site.

Turns out there are more than 150 different options.

He even built some cool features to help you find the credit card that works best for you. Stephen joined me in downtown Toronto for my first outdoor and underground mobile episode of The Personal Finance Show.

(And a special shout out to Daniel Trezub from for making that cameo at the end.)


17 - Jessica Moorhouse (Payments Race)


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