The best credit card intro offers usually come in the form of bonus points, miles, or cashback offers. While both travel credit cards and cashback cards work the same in the sense that they both offer welcome bonuses and ongoing rewards, the ways a user can redeem these incentives and the redemption rates constitute the essential distinction between the two financial product types.
The deal is simple with cashback cards - one cashback percentage point equals one cent per each dollar spent. As far as point- and mile-based cards go, one point or mile isn’t a fixed-rate commodity and it rarely equals one cent.
Note that a credit card welcome bonus, additional perks, and even fees are all things you should consider when choosing the right option for you.
To put it simply, if getting the maximum value out of a card is your top priority - even though you’ll need to put in a lot of work into it - you should apply for a credit card that lets you earn points or miles. However, if you don’t have the time or inclination to put so much effort into tracking how you spend, cashback rewards credit cards are the way to go.