It depends on how you plan to redeem your rewards. If you plan to deposit your cash rewards into a high-yield savings account, it's best to redeem often so that you don't lose out on interest. However, if you prefer to use your rewards for travel, you might save up your rewards to help cut future travel costs. In fact, your cash back might be worth more if you redeem through an issuer's travel portal, like Chase Ultimate Rewards. To maximize your earnings, check your issuer's redemption options and be strategic in how and when you redeem.