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 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 in your rewards by redeeming them outside your “rewards type”; therefore, we advise against it. In order to maximize the benefit that you get from your rewards card, it is important to choose one that lets you earn rewards of your favorite “type” (or “currency”).
Alternatively, if you are having a hard time deciding which rewards type is best for you, you should just get a rewards cash-back card, because:
- You can use cash anywhere
- Cash Back Credit Cards are the easiest rewards cards to compare
