Even though you earn rewards in a certain “rewards type” (or “rewards currency”), most credit cards allow you to use/redeem your rewards for other things outside the your specific currency. For example, you can use/redeem your United miles for merchandise, or you can use/redeem your Capital One miles for cash. In most cases, however, you lose significant value of your rewards by redeeming them outside your “rewards type”; therefore, we advise against that. In order to maximize the benefit that you get from your rewards it is important to choose a rewards card that lets you earn rewards on your favorite “type” (or “currency”).
Alternatively, if you are having a hard time deciding which reward is best for you, you should just get a rewards cash-back card, because:
- You can use cash anywhere and
- Cash Back Credit Cards are the easiest rewards cards to compare
