The amount your rewards are worth can vary by program. ![]() How cash back, points and miles workĮach rewards program works a bit differently, so it's important you understand the basic rules below. One example is co-branded Delta cards, like the Delta SkyMiles® Blue American Express Card, which offer rewards as SkyMiles (Delta Airlines' membership rewards). Most co-branded airline cards offer miles as part of the brand's unique membership rewards program. For example, the Chase Sapphire Preferred® Card offers Ultimate Rewards® points, whereas the American Express® Gold Card offers Membership Rewards® points. ![]() Other rewards cards that don't earn cash back either provide points or miles. The points vary in value based on how you choose to use them. For instance, the Chase Freedom® and Chase Freedom Unlimited® are marketed as earning cash back, but rewards are provided as Chase Ultimate Rewards® points. However, some cash-back cards actually accrue points that can be converted into a dollar value. The majority of cash-back cards let you earn a certain percentage of cash based on your spending, such as the Citi® Double Cash Card, which provides 2% cash back in total: 1% on all purchases and an additional 1% after you pay your credit card bill. The type of rewards you earn depends on the card you have. Credit cards generally offer one of three reward structures: cash back, points or miles.
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