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@longtimelurkerI'm not sure if this is where the OP is coming from, but I think it is the case that rewards from cash back are relatively insignificant, whereas for some mileage rewards can be used for trips that would otherwise be out of reach (e.g. 1st class long haul international and/or top resorts, which do not appeal to all....)
And before people respond with "I got XXXX" or "it's all free money"... cash back is going to be a small % of all spend (and a higher percentage up to some cap), and our excitement is somewhat out of proportion. We could possibly do better couponing, using discount gift cards etc, but as this is a cc site, we get excited by that. But, in reality, unless you churn and MS heavily, cc cash rewards aren't going to make a significant financial contribution.
I agree with this and think the the value of CB is overplayed at times. I'm guilty of it myself, moreso in the past than currently. The amount of CB received is incredibly insignificant. People talk about it in dollars because it's easier to quantify, but it's all relative. By definition someone's CB is 2%-3% maybe (whatever your card(s) average out to be); that's not a large amount. Someone that's getting $2k+ in CB per year is probably spending $100k/year, meaning their income is significant enough to make that happen. That being said, $2k in CB against such an income isn't significant. $2k CB on a $30k income? Sure... but someone with $30k income and a proportional spend is probably going to come in at a few hundred bucks in CB.
I'm not saying CB isn't a great thing and as many have said it can be considered "free money" and all, but let's not paint a picture that it's at all significant in the grand scheme of things.
I don't travel enough to take advantage of the travel cards.
Cash back has a better return for my spend.
@Anonymous wrote:Im not sure if it just me but I dont really see the point of a cash back card. I know a lot of them have limits for how much you can earn back right? Even if thats not to case.... So to me you would have to spend a ton of money to get what, 200 dollars back for the year? I just dont understand why people would want that instead of getting free airline miles you can go on vacations with for example. I always hear how much people love cash back cards though. Maybe I'm missing something. Can someone explain it to me please lol
As mentioned before, i love my CB cards as i use them to pay for the things i would have to pay for anyways, so at least i'm getting something back in more of a real time sense. The point cards are great too, but they do take awhile to build up, an some of my CB cards have benefits like extra insurance and such that points cards dont.
@AnonymousBy definition someone's CB is 2%-3% maybe (whatever your card(s) average out to be); that's not a large amount.
Someone with $30k income and a proportional spend is probably going to come in at a few hundred bucks in CB.
This same low value would also carry over to travel cards. With low income the amount of travel will be less and a much longer time needed to get enough points to be of value. With out higher spend, travel rewards are equally crippled.
I split my spending between a points card and a cash back card, and this works for me. I don't understand why the OP even asked the question.
By the way, what happened to the OP? The OP has given no responses to all the comments.
RBFCU offers 2% cash back no limit and I pay most of my bills thru it so at the end of the year I get a few hundred bucks back.
I like money. They give me money for spending money. I like that. And my credit isn't worth a spit so I don't qualify for any points cards. So give me money.
I agree I would never have a cashback card over travel cards. However I will say that before I knew about the travel game I used the Quicksilver Card and usually got between $50-75 a month. I was "naive" but there was a benefit.