How do I redeem credit card rewards?

Question

ClearValue Editorial Team · Accepted Answer

Log into your card's rewards portal (or call the number on the back of your card), check your balance, and pick a redemption method. Cash back as a statement credit, deposit, or check is the most straightforward value, though travel redemptions can exceed cash value on some programs. Rewards only have value once redeemed, and many cardholders let points sit or expire. Statement credits and direct deposits or checks are the simplest — usually exactly 1 cent per point with nothing to lose. Gift cards are often a flat 1 cent per point, occasionally better during promotions, so check the math. Booking flights or hotels through the issuer's travel portal can yield more on some programs (often 1.25-1.5 cents per point), and transferring points to airline or hotel partners can push value higher still for those willing to do the work. Check your balance for any expiration date, and remember that if you'll only ever redeem for cash, a straightforward flat-rate cash back card often beats a points card you don't optimize.