Is cash back or miles better?

Cash back credit cards are generally the better choice if you want to earn simple, flexible rewards on your regular purchases. A points or miles card may be a better option if you travel often or want to start earning travel rewards on your purchases.



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The more that you use your cash-back rewards programs, the more money that you stand to earn. There are a few drawbacks to a cash-back rewards card, including a higher-than-usual APR, having to wait to access your cash-back funds, and a cap on how much you can earn each year.

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Airline miles are oftentimes the most valuable award travel currency. While many travel rewards are worth around 1 cent each, airline miles can be worth up to 6 cents each for first-class flights. Despite the potentially high valuations, miles are not always worth earning.

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Airline miles are oftentimes the most valuable award travel currency. While many travel rewards are worth around 1 cent each, airline miles can be worth up to 6 cents each for first-class flights. Despite the potentially high valuations, miles are not always worth earning.

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Anticipate 20,000 United miles to be worth from $220 to $260 on most fares with a redemption value of 1.1 to 1.3 cents each. In most cases, domestic flights will be your only option as one-way domestic flights start at 10,000 miles but are lower at times.

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50,000 American Airlines miles are worth about $645, which is the equivalent of at least one round-trip flight between New York and Los Angeles on American Airlines. AA miles are worth about 1.18 cents per mile, slightly less than average for a major airline.

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95 Cash Miles are worth $10, and you can redeem miles in $10 increments up to a total of $750 per day.

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On the downside, airline-specific cards will often limit your ability to shop for the lowest-cost ticket because you are only earning and redeeming rewards with a single carrier. Sometimes, the rewards can be redeemed at more favorable rates, especially during off-peak travel times.

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Partners that left the program did so because of the cost of participating, Mr. Sojka said. Some found it was cheaper to start their own loyalty programs, or join another program. Sobeys has linked up with Bank of Nova Scotia's Scene+ program, while the LCBO now offers Aeroplan points.

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While AIR MILES Cash Miles can be used instantly in-store and online to get things like free gas or groceries, Dream Miles can be used in a big way. They're typically redeemed for travel, tech, home appliances, fashion, and events. You can even choose to redeem them for donations.

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