Travel Vs Cash Back Credit Card - Which Is Best?

Credit Cards Guide

Choosing a rewards credit card means picking a side in an ongoing debate: cash back or travel benefits?

Both have advantages. Cashback is flexible and easy to redeem. Points or miles dangle the possibility of a paid-for vacation and, sometimes, a higher reward value per dollar spent. Nowadays, some cards let you redeem rewards for cash or travel at the same value. But if you’re deciding between the two, it comes down to your lifestyle — and the effort you’re willing to put in.

“I look at it as ‘How hard do you have to work to get the rewards from your card?’” says Jim Miller, senior director of banking services at independent ratings firm J.D. Power. “If you don’t want to work at it, cashback is the easy decision. You get good rewards and you don’t really have to worry about it. If you go with a miles card, you have to pay more attention to it.”

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Cashback

With a cash-back card, rewards come in dollars, not points or miles. You can redeem rewards for a credit on your statement and may also be able to redeem for gift cards, a check, or a direct deposit to a bank account.

Click here to get to know about Travel and Credit Cashback cards

Travel

Travel credit cards give you points, miles, or some other rewards currency. They come in two main flavors:

General travel cards. These are bank-branded cards with rewards that can cover a range of travel expenses. An example is the Capital One Venture Rewards Credit Card.

Co-branded cards. These are cards branded with an airline or hotel chain. They typically allow you to redeem rewards within one loyalty program.