Valuing Credit Card Points Credit card points

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Valuing Credit Card Points
Credit card points have an average worth of 1 cent each, substantially less canada whatsapp number data travel miles. At a base rate of 1 cent per dollar spent, you will get around a 1% return on your credit card spend.

But as with travel miles, many cards offer more than the base rate of one point per dollar. Depending on how you spend the points themselves, you can get higher than the average rate of 1 cent per point.

You can also get a value of less than 1 cent per point, so to maximize your points make sure you redeem them in the most advantageous way. While credit cards strictly dedicated to travel miles or cash back are more straightforward, the flexibility of points cards means that you also should pay attention to how you are redeeming your points, to prevent from earning a sub-optimal return.

How Credit Card Points Can be Redeemed
As an example, you can redeem Chase Reward Points for cash back, gift cards, to pay for Amazon purchases, and Apple products.

If you redeem Chase points for Amazon, you will earn a lesser redemption rate (0.8 cents per point) than if you were to just get straight cash back from Chase (1 cent per point). In this case, you are significantly better off taking the cash than by paying for your Amazon purchases with your Chase points.

The specifics of how much you can redeem a point for with different programs changes periodically, so make sure you are paying attention to get the best spend. In many cases, you can get just as good if not better rate by taking cash.