What's better cash back or rewards points?

All about maximizing your rewards!
Members share tips and tricks for getting the most miles, & points.
9 posts
yeyeman9
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What's better cash back or rewards points?

Postby yeyeman9 » Fri May 25, 2012 6:25 pm

I am just curious, what do you guys consider to be the best thing out there? What is the "best deal" a "cash back" deal or a "reward points" deal? Where you spend points in whatever it is you want later on...

I never thought picking out a credit card would be so hard...


Moneytalks
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Postby Moneytalks » Sat May 26, 2012 3:08 pm

At first, I thought cash back since cash is king, right? And then I fell in love with Amex and now I'm focusing on points, just my thought...
Wallet: Amex BCE & Chase Freedom. (Credit Card dieting since 2014)

DavidNY
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Postby DavidNY » Sat May 26, 2012 3:12 pm

Cash back unless you travel a lot, in which case points/miles might suit you better.

yeyeman9
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Postby yeyeman9 » Sun May 27, 2012 7:25 pm

Thank you both for the feedback.

I don't know yet whether I will be travelling a lot or not, but it seems like I might be. That's the thing though, right? Points are pretty good mostly for travelling, if not cash back is the best bet, isn't it? In either case though, cash back does help you for travelling as well I guess...?

Thanks!

Moneytalks
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Postby Moneytalks » Sun May 27, 2012 10:02 pm

yeyeman9 wrote:Thank you both for the feedback.

I don't know yet whether I will be travelling a lot or not, but it seems like I might be. That's the thing though, right? Points are pretty good mostly for travelling, if not cash back is the best bet, isn't it? In either case though, cash back does help you for travelling as well I guess...?

Thanks!


Ehh, I don't really travel much, but I still prefer points since $1=1 point, vs. a percentage of the dollar...but either or is a good choice, just make sure you can pay your bills and don't get caught up trying to rack up points or cashback! haha
Wallet: Amex BCE & Chase Freedom. (Credit Card dieting since 2014)

Money card
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Postby Money card » Sun May 27, 2012 11:35 pm

No, cash back is basically gift cards, not airlines miles/hotels.

As David mentioned airline miles are travel cards like the premium American Express cards, Chase sapphire, Capital1 Venture card. You can use your Discover more card for business such as purchasing airline tickets, hotels and restaurants but with the cashback card, you can't redeem for airline miles. You would need an Escape or Miles from Discover.

Tl1991
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Postby Tl1991 » Mon May 28, 2012 11:26 pm

I love cash back! But just got a zync, may focus on the points for now since I will be doing traveling this summer. Personally I like a variety.
Capital One: Cash Rewards
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FutureBillionaire
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Postby FutureBillionaire » Tue May 29, 2012 10:31 am

I agree with variety. Sometimes cash back is king. My discover more and penfed cash rewards give me 5% that adds up quickly. I like my American Express points. I will shop through the online portal and earn multiple points to earn gift cards. Many times, you get more bang for your buck with gift cards from merchants rather than simple cash back.
Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape

dougw
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Postby dougw » Sat Jun 16, 2012 3:31 pm

You can often get more when you redeem points for gift cards, etc, than if you just take cash (or cash equivalents like Visa gift cards). Usually your points go twice as far if you get a gift card rather than request a form of cash.



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