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Points vs cash back

Frequent Contributor

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



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3 REPLIES
Contributor

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

Message 2 of 4
Valued Member

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


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Message 3 of 4
Valued Contributor

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 709 3/15 Walmart Fico 743 4/15

Inquiries (24 Months): EQ 6 TU 1 EX 6 | Most Recent: 4/09/2015
Over 12 Months:9


2015 Goals:
Lower Utility
Earn Cash Back

Amex Zync(Unicorn)
Chase Freedom$1500
Discover IT$7,400
Citi DC $10,000
Citizens Mastercard$7,000
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