Credit Card Rewards Programs

Points, miles, cash back - what to consider and how to choose.

Credit Card Rewards Programs
24 min read
Apr 13, 2024
Crunchly expert Bryan Halloy
Written by Bryan Halloy

For many consumers, credit card rewards programs are a key consideration when choosing a new card. Points, miles, cash back, and other rewards can provide significant value and benefits, making them an attractive feature for cardholders. Generally, each credit card is tied to only one major rewards program, such as American Express Membership Rewards, Chase Ultimate Rewards, or Citi ThankYou Points. Understanding the nuances of these rewards programs and how they align with your spending habits is essential to maximizing the value you receive from your credit card.

What to consider in credit card rewards programs

  • Value of the rewards miles/points: Not all rewards programs are created equal, and the value of points or miles can vary significantly across programs. Cash back rewards are almost always valued clearly (e.g. $1 cash back is worth $1), but points and miles can be more complex and range from fractions of a penny to sometimes 5 cents or more per point/mile.
  • Redemption partners: Some rewards programs offer more flexibility and value by partnering with a wide range of airlines, hotels, and retailers, while others are tied to just one or a few partners.
  • Ways to redeem: Rewards programs offer various redemption options, such as travel, merchandise, gift cards, statement credits, or charitable donations. Some programs provide more flexibility and value than others.
  • Transferability: Some rewards programs allow you to transfer points or miles to other loyalty programs, which can increase their value and flexibility. This feature is particularly valuable for frequent travelers who want to maximize their rewards across multiple programs.
  • Expiration policies: Rewards points or miles may have expiration dates, which can impact their value and usability. Be sure to understand the expiration policies of the rewards program to avoid losing your hard-earned rewards.

How crunchly considers rewards programs in its recommendations

We consider rewards programs by considering both the reward program(s) you prefer, and the programs' value and earning potential. Note that we calculate these rewards separately from other benefits like credits and perks.

  • Rewards program preference: We take into account your preferred rewards program(s) when recommending credit cards. If you have a strong preference for a specific rewards program, we prioritize cards that align with your choice.
  • In the value of rewards earned through everyday spending: We calculate the potential rewards you could earn based on your monthly spending habits and the rewards rates offered by each card. We consider both your expected spending and each card's points/miles/cash back earning rates for purchases made across hotels, airfare, rental cars, rideshare services, gas, groceries, dining, food delivery, gym memberships, and online shopping categories (as well as total purchases overall).
  • In sign-up bonuses value: We also factor in the value of any sign-up bonuses offered by the credit card issuer. These bonuses can provide a significant boost to your rewards earnings in the first few months of card membership.

Rewards Programs

Cash ($)

Cash back rewards offer maximum simplicity and flexibility. With cash back, you can enjoy tangible benefits like direct savings on your credit card statement or use the cash for anything you want. It's a straightforward and versatile way to make the most of your spending.

  • Valuation: $1.00 per dollar

Air Canada Aeroplan

Air Canada Aeroplan is the loyalty program of Air Canada, designed to reward frequent travelers with points that can be earned and redeemed for a variety of benefits. Members accumulate Aeroplan points by flying with Air Canada and its Star Alliance partners, as well as through spending with co-branded credit cards and participating merchants. These points can be redeemed for flights, upgrades, hotel stays, car rentals, and other travel experiences. Aeroplan offers several elite status tiers, such as Aeroplan 25K, 35K, 50K, 75K, and Super Elite 100K, each providing progressively greater benefits like priority boarding, lounge access, bonus points, and preferential treatment. The program is known for its flexibility, extensive partner network, and the ability to book flights with no blackout dates on Air Canada and its partners.

Alaska Miles

The Alaska Mileage Plan rewards program, offered by Alaska Airlines, provides travelers with a flexible and generous system for earning and redeeming miles. Members earn miles not only through flights with Alaska Airlines and its partner airlines but also through various partners like hotels, car rentals, and shopping. The program stands out for its valuable partnerships, allowing members to redeem miles for flights not only on Alaska Airlines but also on a wide network of partner airlines, including global carriers like British Airways and Emirates. Additionally, elite status tiers offer perks such as bonus miles, complimentary upgrades, and priority boarding, enhancing the overall travel experience for loyal customers.

Allegiant Allways Rewards Points

Allegiant Allways Rewards is a loyalty program offered by Allegiant Air, providing travelers with benefits and perks for their loyalty. Members earn points not only through booking flights but also through purchases with Allegiant Air partners and through the Allegiant World Mastercard. Points can be redeemed for discounts on flights, hotel stays, car rentals, and vacation packages. The program also offers perks like priority boarding, free snacks and beverages onboard, and waived fees for services like seat selection and carry-on bags, enhancing the travel experience for frequent Allegiant Air passengers.

  • Valuation: $0.010 per point* Points are pegged at 1 cent each by Allegiant.Source: Allegiant Airlines
  • Program details: (link)

American Airlines AAdvantage

The American Airlines AAdvantage rewards program is highly appealing for travelers because it allows members to earn miles not only when flying on American Airlines but also on oneworld® and numerous partner airlines, totaling over 1,000 partners. These miles can be redeemed for a wide range of benefits, including flights to nearly 1,100 destinations worldwide, upgrades, vacations, car rentals, hotels, and even other retail products. Moreover, the program offers various avenues to earn miles, such as through partner collaborations, and it provides a Loyalty Points system to help members track their progress toward achieving AAdvantage® status, making it a valuable and flexible rewards program for frequent travelers.

American Express Membership Rewards

The American Express Membership Rewards program is highly regarded for its flexibility and wide range of redemption options, making it one of the most valuable points currencies. Members can use their points for everyday purchases, including travel, dining, and shopping, or transfer them to a variety of airline and hotel partners, such as Delta SkyMiles, British Airways Executive Club, and Marriott Bonvoy, often at favorable conversion rates. Additionally, the points do not expire as long as an active Membership Rewards card is maintained, and the program's extensive selection of partners across the globe significantly enhances the potential for maximizing travel and other rewards.

Avios

The Avios rewards program offers significant flexibility and value in travel and lifestyle options. Firstly, it allows members to spend Avios on a wide range of travel-related expenses, including over 100,000 hotels globally, flight bookings with partner airlines, car rentals, and unique experiences. Additionally, Avios can be used to upgrade flights, pay for extra baggage or seats, and even partially cover the cost of flights and holiday packages, providing users with multiple ways to save money and enhance their travel experience.

Bank of America Preferred Rewards

The Bank of America Preferred Rewards program is designed to reward customers for consolidating their banking and investment accounts with Bank of America and Merrill. It offers a range of benefits including increased interest rates on deposits, credit card rewards multipliers, and reduced fees, with the most attractive feature being the enhanced credit card rewards. As customers increase their combined balances in Bank of America and Merrill accounts, they ascend through different tiers in the program, which leads to greater benefits and rewards, averaging an increase in overall benefits to about $500 a year.

  • Valuation: $0.01 each* 'Every Bank of America point is worth up to 1 cent'.Source: Forbes
  • Program details: (link)

Best Western Rewards

The Best Western Rewards program is highly beneficial due to its flexibility and range of redemption options. Members enjoy perks like worldwide free night redemption, exclusive member rates, and the assurance that their points never expire, allowing them to redeem points for free travel, gift cards, and products at their convenience. Additionally, the program offers unique incentives like the option to pay with points for room nights and a diverse selection of retail gift cards, making it an attractive choice for both frequent travelers and those looking for varied reward opportunities.

BreezePoints

BreezePoints is the loyalty program introduced by Breeze Airways, offering passengers opportunities to earn and redeem points for flights and other travel-related perks. Members earn points through booking flights with Breeze Airways and by using the Breeze Easy credit card. Points can be redeemed for discounted or complimentary flights, seat upgrades, priority boarding, and other travel-related benefits. The program emphasizes simplicity and flexibility, with no blackout dates or restrictions on seat availability for point redemptions. Additionally, BreezePoints members may enjoy exclusive promotions and offers tailored to their travel preferences, enhancing their overall travel experience with Breeze Airways.

Capital One Miles

The Capital One Miles rewards program is advantageous for its versatility and user-friendliness. Firstly, it offers unlimited miles that don't expire as long as the account remains open and in good standing, usable for a wide range of travel-related expenses like flights, hotels, car rentals, and more without seat restrictions or blackout dates. Additionally, the program provides diverse redemption options, including transferring miles to over 15 travel loyalty programs, redeeming for cash, gift cards, exclusive event tickets, and sharing miles with other Venture cardholders, enhancing the value and flexibility of the rewards earned.

Chase Ultimate Rewards

The Chase Ultimate Rewards program is renowned for its flexibility and diverse redemption options, making it highly valuable for cardholders. Members earn points through everyday spending and travel purchases, which can be redeemed for cash back, travel, gift cards, and more, often with increased value when redeemed for travel through Chase's portal. Additionally, the program allows for points transfer to numerous airline and hotel partners at a 1:1 ratio, enhancing travel opportunities, and the points do not expire as long as the account remains open and in good standing, providing long-term benefits for users.

Choice Privileges

The Choice Privileges rewards program is notable for its wide-ranging benefits for travelers who frequently stay at Choice Hotels. Members earn points for hotel stays, which can be redeemed for free nights at various Choice Hotels properties, along with options for vacation rentals, and even airfare, gift cards, and experiences. The program also offers exclusive member rates, the ability to earn elite status for additional perks, and the convenience of flexible point usage, making it a valuable option for both business and leisure travelers.

Citi ThankYou Points

The Citi ThankYou Points rewards program is highly regarded for its versatility in earning and redeeming points. Members can accumulate points through a variety of everyday purchases, and the program offers a wide range of redemption options including travel, gift cards, shopping with partner retailers, and even paying with points at checkout with certain merchants. Furthermore, the program's flexibility extends to the ability to transfer points to a number of airline loyalty programs, providing additional value for travelers and enhancing the overall usefulness of the points accumulated.

Delta Air Lines SkyMiles

The Delta Air Lines SkyMiles program offers a rewarding and flexible travel experience, with the ability to earn miles not only for flying but also for everyday purchases. Members can redeem these miles for a variety of rewards, including travel on any Delta flight without blackout dates, seat upgrades, Delta Vacations packages, and even premium drinks at Delta Sky Club. Additionally, the program offers unique opportunities such as Delta Stays for hotel and vacation rentals, exclusive SkyMiles Experiences, and the option to buy, gift, transfer, or donate miles, making it an expansive and versatile loyalty program.

Discover Miles

Discover Miles, earned through the Discover it® Miles program, offer a versatile range of redemption options. You can use these miles to offset travel-related expenses on your statement, including airline tickets, hotel stays, car rentals, travel agents, online travel sites, and commuter transportation. Additionally, Discover Miles can be redeemed for cash back in the form of a direct deposit to your bank account or as a credit on your Discover card statement, providing flexibility for both travel and non-travel related expenses.

  • Valuation: $0.01 per mile* '...100 Miles = $1 to redeem for cash or travel credit'Source: Discover
  • Program details: (link)

Frontier Airlines Frontier Miles

The Frontier Airlines Frontier Miles rewards program stands out for its simplicity and generous earning potential. Members can earn miles for every dollar spent on Frontier, with award flights starting at just 10,000 miles for a one-way domestic flight and no blackout dates for redemption. Additionally, the program is set to become even more rewarding in 2024, offering faster ways to earn Elite status and free flights, along with new benefits like no change/cancel fees and priority customer care for all status levels, enhancing the overall travel experience for frequent flyers.

Emirates Skywards Miles

Emirates Skywards Miles is the loyalty program of Emirates Airlines, providing members with opportunities to earn and redeem miles for flights, upgrades, and a variety of lifestyle rewards. Members accumulate miles through flying with Emirates, as well as with its partner airlines, and through spending with co-branded credit cards and participating partners worldwide. The program offers flexibility in redeeming miles for flights across the extensive Emirates network and its partner airlines, as well as for upgrades to business or first class, hotel stays, car rentals, and experiences like concerts or sporting events. Elite status tiers provide members with additional benefits such as bonus miles, lounge access, priority boarding, and enhanced baggage allowances, ensuring a rewarding travel experience for frequent Emirates flyers.

FNBO Rewards Points

FNBO Rewards Points is the loyalty program associated with First National Bank of Omaha (FNBO), offering customers the opportunity to earn points for their purchases made with FNBO credit cards. Cardholders can earn points on a wide range of purchases, including groceries, gas, dining, and travel expenses. These points can then be redeemed for various rewards such as travel bookings, gift cards, merchandise, statement credits, and even charitable donations. FNBO Rewards Points program may also offer additional benefits and promotions to its cardholders, enhancing the overall value and experience of using FNBO credit cards.

  • Valuation: $0.01 per point* '...$200 cash bonus (20,000 points equivalent)'Source: FNBO
  • Program details: (link)

Flying Blue

Flying Blue is the loyalty program shared by Air France, KLM, and their partner airlines. Members of Flying Blue earn miles, known as Award Miles, when they fly with these airlines or their partners, as well as through certain credit card purchases and other partner transactions. These miles can then be redeemed for flights, upgrades, hotel stays, car rentals, and various other benefits. Flying Blue distinguishes itself with its tiered membership system, offering Silver, Gold, Platinum, and Elite levels, each with progressively greater benefits such as lounge access, priority boarding, and bonus miles. Flying Blue also allows members to pool miles with family or friends, providing flexibility and convenience in redeeming rewards.

Frontier Airlines Miles

The Frontier Airlines Miles rewards program stands out for its simplicity and generous earning potential. Members can earn miles for every dollar spent on Frontier, with award flights starting at just 10,000 miles for a one-way domestic flight and no blackout dates for redemption. Additionally, the program is set to become even more rewarding in 2024, offering faster ways to earn Elite status and free flights, along with new benefits like no change/cancel fees and priority customer care for all status levels, enhancing the overall travel experience for frequent flyers.

HawaiianMiles

HawaiianMiles is the loyalty program of Hawaiian Airlines, offering members the opportunity to earn and redeem miles for flights, upgrades, and various travel-related benefits. Members earn miles by flying with Hawaiian Airlines, its codeshare partners, and through credit card spending with the Hawaiian Airlines World Elite Mastercard. These miles can then be redeemed for flights, seat upgrades, hotel stays, car rentals, and merchandise. HawaiianMiles also features elite status tiers, such as Pualani Gold and Pualani Platinum, offering additional benefits like priority boarding, bonus miles, and lounge access. The program distinguishes itself with its focus on Hawaiian culture and hospitality, often offering unique experiences and perks for members traveling to and from Hawaii.

Hilton Honors

The Hilton Honors rewards program is highly versatile and rewarding, making it an attractive option for travelers. Members can use points for a variety of purposes, including free nights with no blackout dates, VIP experiences at events, Lyft rides, shopping at Amazon.com, car rentals, and airline transfers. Additionally, the program allows pooling and transferring of points among members, and offers exclusive perks such as choosing your own room and using a digital key, enhancing the overall hotel stay experience.

IHG One Rewards

The IHG One Rewards program is a versatile and rewarding loyalty scheme for travelers, offering a wide array of benefits. Members can redeem points for Reward Nights at over 6,000 destinations worldwide without blackout dates, and also for experiences, gift items, and more. Additional perks include exclusive member rates, promotions for earning more points, complimentary Wi-Fi, and late check-out options, enhancing the overall travel experience and offering more ways to earn and use points than ever before.

Lufthansa Miles & More

Lufthansa Miles & More is the frequent flyer program of Lufthansa, Germany's largest airline, as well as several other partner airlines within the Star Alliance network. Members earn miles by flying with Lufthansa, its subsidiaries, or any Star Alliance member airline, as well as through credit card spending and purchases with program partners. These miles can then be redeemed for flights, upgrades, hotel stays, car rentals, and other travel-related rewards. Miles & More offers elite status tiers such as Frequent Traveller, Senator, and HON Circle, each with its own set of privileges like lounge access, priority check-in, and bonus miles. The program also features family pooling options and partnerships with various non-airline businesses for additional earning opportunities.

Marriott Bonvoy

The Marriott Bonvoy rewards program offers a broad range of benefits and flexible options for earning and redeeming points, making it highly attractive for travelers. Members enjoy perks such as free in-room Wi-Fi, exclusive member rates, and convenient mobile check-in services. Additionally, points can be used for a variety of rewards including complimentary nights (stay for 5, pay for 4), room upgrades, experiences like dining and concerts, flights, car rentals, and even for gift cards and donations, providing an extensive array of choices to enhance travel and lifestyle experiences.

Southwest Airlines Rapid Rewards

The Southwest Airlines Rapid Rewards program is popular for its user-friendly and flexible approach to earning and redeeming points for travel. Members earn points on flights and with partner services, which can be redeemed for any available seat on any Southwest flight without blackout dates or seat restrictions. Additionally, the program offers tiered benefits, including priority boarding and complimentary flight changes, making it especially appealing to frequent travelers who value simplicity and practical rewards.

Spirit Airlines Free Spirit

The Spirit Airlines Free Spirit rewards program is highly beneficial for frequent flyers due to its emphasis on rewarding spending rather than distance flown. Points are redeemable for any seat on any flight, starting at just 2,500 points, and no blackout dates. Additionally, the program ensures points never expire as long as there is ongoing activity every 12 months or if the member holds an open Free Spirit credit card, offering flexibility and ease in maintaining and using points.

TD First Class Miles

TTD First Class Miles is a travel rewards program offered by TD Bank, providing customers with the opportunity to earn and redeem miles for travel-related expenses. Cardholders earn miles by making purchases with their TD First Class Visa Signature Credit Card, with additional miles often awarded for certain categories such as dining, groceries, and travel purchases. These miles can then be redeemed for flights, hotels, car rentals, cruises, and other travel expenses through the TD Rewards Center. The program may also offer additional perks such as travel insurance, concierge services, and airport lounge access, enhancing the overall travel experience for cardholders.

  • Valuation: $0.01 per mile* 'To determine how many miles you need for a travel or dining purchase, just add two zeros to the expense amount.'Source: TD Bank
  • Program details: (link)

TrueBlue points

TrueBlue is the loyalty program of JetBlue Airways, offering members the opportunity to earn and redeem points for flights and various travel-related benefits. Members earn points, called TrueBlue points, by booking flights with JetBlue and by using the JetBlue credit card or by making purchases with partner companies. TrueBlue points can be redeemed for flights, including both JetBlue flights and those of its partner airlines, as well as for seat upgrades and vacation packages. The program stands out for its simplicity and transparency, with no blackout dates or restrictions on point redemptions. Additionally, TrueBlue members may enjoy exclusive promotions, bonuses, and personalized offers, enhancing their overall travel experience with JetBlue Airways.

U.S. Bank Altitude Points

The U.S. Bank Altitude Points rewards program is notable for its versatility and convenience in redemption options. Key features include Real-Time Mobile Rewards, allowing users to redeem points easily for travel purchases with U.S. merchants without using the U.S. Bank Travel Portal, and offering a better value of up to 1.5 cents per point with the Altitude Reserve card. Apart from travel, points can also be redeemed for cash back, gift cards, and merchandise, although the value for merchandise redemption is slightly lower at around 0.9 to 1 cent per point, making travel redemption or cash back more advantageous.

United Airlines MileagePlus

The United Airlines MileagePlus program stands out for its extensive network and diverse redemption options. Members earn miles through flights, partner services, and daily spending, which can be redeemed for flights, upgrades, hotel stays, car rentals, and more. The program also offers exclusive benefits like access to more award seats, elite status opportunities, and a variety of airline and non-airline partners, enhancing travel flexibility and overall member experience.

Virgin Points

Virgin Points is the loyalty program of Virgin Atlantic Airways, offering members opportunities to earn and redeem points for flights, upgrades, and a range of lifestyle rewards. Members accrue points through flights with Virgin Atlantic and its partners, as well as through spending with the Virgin Atlantic World Elite Mastercard and various program partners. The program stands out for its flexibility, allowing members to use points not only for flights but also for experiences such as hotel stays, car rentals, and unique Virgin Group offerings like Virgin Galactic space flights. Additionally, elite status tiers provide members with perks like bonus points, priority check-in, and lounge access, enhancing the overall travel experience for loyal customers.

Wells Fargo Propel Points

The Wells Fargo Propel Points rewards program offers a high degree of flexibility and practicality in redeeming rewards. Members can use their points for a variety of purposes, including travel expenses like flights, car rentals, and hotel stays, as well as for purchasing gift cards in $25 increments for various occasions. Additionally, the program allows for redemption towards credit card purchases, statement credits, and even charitable donations, such as supporting disaster relief through the American Red Cross, providing both convenience and an opportunity to contribute to social causes.

World of Hyatt

The World of Hyatt rewards program is highly acclaimed for its generous earning and redemption options, and member-centric benefits. Members can earn points not only from hotel stays but also through dining, spa services, and partnerships, with points redeemable for free nights, upgrades, dining, and more, often at attractive point values. Additionally, the program offers tiered status levels with escalating benefits, including room upgrades, late checkouts, and bonus points, enhancing the overall hospitality experience for frequent travelers.

Wyndham Rewards

The Wyndham Rewards program is renowned for its simplicity and broad applicability across a large network of hotels. Members can easily earn points through hotel stays, property rentals, and partner offers, and redeem them for free nights with a low threshold for redemption. Additionally, the program offers a range of other redemption options such as gift cards and experiences, and its straightforward structure with a flat rate for free night redemptions across most properties makes it particularly user-friendly for travelers.