So most of the people around here know about the Fidelity American Express, which gives 2% cashback on all purchases.
However, I suspect most do not know (I didn't) that what you actually earn is worldpoints, which can be used to get cashback, get gift cards, and most importantly, book flights.
When you book flights directly through Worldpoints, you have two options. One - Flex Air - offers a flat 1 cent per point value. The other - Premium Air - has fixed value redemptions (25,000 points for a domestic flight for example) and a flat $30 booking fee AND SIGNIFICANT RESTRICTIONS. One of the biggest is that to qualify a flight must be below $400 for domestic, below $800 to europe etc.
What this means is that if you find a flight that costs between $280 and $400 domestic, you can actually extract more than 2% value out of the card. It is a "Price is right" kind of thing - the closer you get to $400 without going over, the more value you get. For example, if you were able to find a flight that costs exactly $400, you would get 1.48 cents per point, making the card itself equivalent to a 2.96% card. Great value, if you can get it.
Now this is probably not of use to most people, but in case you fly routes that are in that price range, you can read more about this option here: http://milenomics.com/2014/04/the-best-travel-cash-back-card/
