topic Re: 2% vs 2 points in Credit Cards

2% vs 2 points

Anonymous — Thu, 14 Aug 2014 16:06:36 GMT

What is the difference if any?

If it helps...I am referring specifically to the Discover IT Chrome (2% back on resturants) and the Chase Sapphire (2pts back on every dollar spent at restaurants).

Say you spend $20 at Pizza Hut (randomly coming up with a scenario here...)

You would get $.40 from Discover IT Chrome, or 40pts back with CS. Which is the better scenario?

Also, I am aware that there are a few better restaurant rewards cards out there (Us Bank Cash+ for 5% and Huntingon Voice for 3% both come to mind)...I'm just trying to understand the different between the 2. Is one better than the other? Are they the same in cash/gift card type value?

Re: 2% vs 2 points

mongstradamus — Thu, 14 Aug 2014 16:09:28 GMT

@Anonymous wrote:
What is the difference if any?
If it helps...I am referring specifically to the Discover IT Chrome (2% back on resturants) and the Chase Sapphire (2pts back on every dollar spent at restaurants).

Say you spend $20 at Pizza Hut (randomly coming up with a scenario here...)
You would get $.40 from Discover IT Chrome, or 40pts back with CS. Which is the better scenario?

Also, I am aware that there are a few better restaurant rewards cards out there (Us Bank Cash+ for 5% and Huntingon Voice for 3% both come to mind)...I'm just trying to understand the different between the 2. Is one better than the other? Are they the same in cash/gift card type value?

If you are doing for pure cash back they are the same. Most people use Chase UR points for transfer to an airline or hotel where you are getting more than 2 points per cent, so if you are transferring to an airline partner you are getting nearly 4 per cent. If you just want cash back then it would be normal 2 per cent similar to discover which is only cash back they don't do transfers to airline partners.

Re: 2% vs 2 points

Anonymous — Thu, 14 Aug 2014 16:30:19 GMT

@mongstradamus wrote:
@Anonymous wrote:
What is the difference if any?
If it helps...I am referring specifically to the Discover IT Chrome (2% back on resturants) and the Chase Sapphire (2pts back on every dollar spent at restaurants).

Say you spend $20 at Pizza Hut (randomly coming up with a scenario here...)
You would get $.40 from Discover IT Chrome, or 40pts back with CS. Which is the better scenario?

Also, I am aware that there are a few better restaurant rewards cards out there (Us Bank Cash+ for 5% and Huntingon Voice for 3% both come to mind)...I'm just trying to understand the different between the 2. Is one better than the other? Are they the same in cash/gift card type value?
If you are doing for pure cash back they are the same. Most people use Chase UR points for transfer to an airline or hotel where you are getting more than 2 points per cent, so if you are transferring to an airline partner you are getting nearly 4 per cent. If you just want cash back then it would be normal 2 per cent similar to discover which is only cash back they don't do transfers to airline partners.

Pretty much, this. It's all in what/how you want your rewards redeemed. Cash back is just that ... cash back. The percent you get is the same all the time (other than bonus cash back). So if your card offers 3% cash back on gas, you'll always get that 3% cash back.

With points, as was pointed out, they can change in value depending on what you redeem them for.

Basically, it's the value at redemption time that matters.

Re: 2% vs 2 points

MT936 — Thu, 14 Aug 2014 16:51:46 GMT

Points are worth more if you transfer them to airline partners for miles

Re: 2% vs 2 points

Anonymous — Thu, 14 Aug 2014 20:12:52 GMT

Thanks for the information. I wasn't completely sure! Now I know.

Re: 2% vs 2 points

Themanwhocan — Fri, 15 Aug 2014 01:40:42 GMT

@Anonymous wrote:
What is the difference if any?
If it helps...I am referring specifically to the Discover IT Chrome (2% back on resturants) and the Chase Sapphire (2pts back on every dollar spent at restaurants).

Say you spend $20 at Pizza Hut (randomly coming up with a scenario here...)
You would get $.40 from Discover IT Chrome, or 40pts back with CS. Which is the better scenario?

Also, I am aware that there are a few better restaurant rewards cards out there (Us Bank Cash+ for 5% and Huntingon Voice for 3% both come to mind)...I'm just trying to understand the different between the 2. Is one better than the other? Are they the same in cash/gift card type value?

Also the Chase AARP VISA Signature card is 3% Restaurants & Gas. Santander Bravo is 3% restaurants & Gas but has a $49 fee unless you can qualify to have that waived (you won't qualify). And Paypal Extras or Ebay card is 2.5% in those categories.