Cc points vs cash back

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Forum -> Household Management -> Finances

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amother

Fri, Sep 06 2024, 8:02 am

Do you get more value using points than cashing out?
Reason I’m asking is bec we don’t have a cc for points. We use Apple Card and use the cash back for vacation fund
Would we get more if we switched?

Molly Weasley ↓

Fri, Sep 06 2024, 9:04 am

If you travel traditionally, flights - hotels - car rental, points can be a better value. If you like the flexibility, cash is a better option.

Points tied to a specific Airline often have the most benefits if you stick to that airline.

Points tied to a credit card like ultimate rewards from Chase, or membership rewards from American Express allow for travel in general, and you can transfer the points to specific Airlines as needed. You may not get the best value, but at least you can choose to spend it as you wish

The good news is, that virtually every major credit card point system allows you to cash out.
American Express and Chase both offer cards that allow you to get the point value as cash, whenever you request it.

amother

Linen

Fri, Sep 06 2024, 9:09 am

Amex gives far less than 1 cent per point to cash out . Far better off selling the points if you want cash.

amother

Lightgray

Fri, Sep 06 2024, 9:18 am

I find that you need to know points and when to cash out
My husband enjoys this
And will transfer his points to specific airlines when they have sales for points..
We do get much more value for our points this way.
In general we find that we get 2.5 cents towards a point.
But when I was single it was to complicated for me and I just used cash back CC.
You have to know yourself
It isn’t always worth twisting yourself in a pretzel for a little more value.

↑ Molly Weasley

Fri, Sep 06 2024, 9:19 am

amother Linen wrote:

Amex gives far less than 1 cent per point to cash out . Far better off selling the points if you want cash.

True, I was thinking of Chase when I wrote that.

Ultimate Rewards by Chase gives one cent per point.

For amax, it's ‏between 0.5 and 0.7 cents per point.

Regards to selling, it comes with a big risk as well, do your homework

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