Reply
Frequent Contributor
Posts: 299
Registered: ‎05-28-2012
0

Points vs cash back

Hubby got a chase freedom on Tuesday - card isn't here yet, but the rep told him he would get 10k bonus points or $100 cash back if he spent $500 in the first 3 months (totally not a problem). I can't find anything on their rewards structures, so which is the better deal?

Starting Score: 492 02/12
Current Score: TU: 668 (FICO), EQ: 668 (FICO). EX: 651(lender pull 9/27/12)
Goal Score: 660



Contributor
Posts: 567
Registered: ‎10-04-2012
0

Re: Points vs cash back

Find a reference that will allow you to assign a nominal cash value to the points, then compare apples to apples.

FICO 04 scores: 809 (EQ) 812 (EX) 818 (TU)

Amex Platinum NPSL - Citi HHonors Sig. $58k - BMW Ultimate $40k
Chase Sapphire Preferred $62k - Merrill Lynch + Signature $41k - USAA Rate Advantage $28k
NFCU Flagship Signature $50k - USAA Cash Rewards AMEX $28k
Citi Platinum Select / AAdvantage Signature $31k - Chase Amtrak Rewards World MC $41k

Valued Member
Posts: 36
Registered: ‎12-18-2011
0

Re: Points vs cash back


JPersat wrote:
Hubby got a chase freedom on Tuesday - card isn't here yet, but the rep told him he would get 10k bonus points or $100 cash back if he spent $500 in the first 3 months (totally not a problem). I can't find anything on their rewards structures, so which is the better deal?

Hi. The 10k bonus points translates to $100 cash back.  The freedom card uses UR points that work out to 1 cent per point. They're basically the same thing. Hope that helps. 


Starting Score (January 2013): TU: 704, EQ: 679, EX: 687
Current Score (September 2013): TU: 741. EQ: 703, EX: 712
Goal Score: 730 Across the Board


Take the myFICO Fitness Challenge
Valued Contributor
Posts: 2,256
Registered: ‎07-23-2012
0

Re: Points vs cash back


littlelottie wrote:

JPersat wrote:
Hubby got a chase freedom on Tuesday - card isn't here yet, but the rep told him he would get 10k bonus points or $100 cash back if he spent $500 in the first 3 months (totally not a problem). I can't find anything on their rewards structures, so which is the better deal?

Hi. The 10k bonus points translates to $100 cash back.  The freedom card uses UR points that work out to 1 cent per point. They're basically the same thing. Hope that helps. 


+2 the 10k points show up in your rewards and when you redeem you can have them mail you a check or apply to your current bill 

as stated 1 point = 1 cent. 

on avg ive earned about 20 dollars a month in cash back. 

Current: Discover Fico 682 1/15 Walmart Fico 684 1/15

Inquiries (24 Months): EQ 4 TU 1 EX 5 | Most Recent: 09/26/2014
Over 12 Months:6


2014 Goals:
Lower Utility
47%(OUCH!!)
Freedom Signature

Amex Zync(Unicorn)
Chase Freedom$1500
Discover IT$2900
Citi Diamond Preferred$6000
Citizens Mastercard$7000

Get a myFICO recommended credit card

Copyright ©2001-2013 Fair Isaac Corporation.
All rights reserved.

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.