By Ben LuthiCash Back, Points and Miles: What’s the Difference?
By Ben Luthi
Quick Answer
Rewards credit cards typically offer cash back, points or miles on your everyday purchases. But while there are some differences between the three categories, some rewards programs blur the lines. It’s important to know how your card works to maximize your rewards.
Credit card rewards typically come in one of three forms: cash back, points or miles. But while each type of rewards currency has some hallmark features, what you can do with your rewards ultimately depends on the card.
Here's what you should know about how cash back, points and miles differ and how you can maximize the value you get from them.
How Cash Back Works
Cash back is generally the simplest way to earn and redeem credit card rewards. That said, some cash back credit cards technically offer points that may provide more flexibility than traditional cash back options. Here are some of the main features:
- Annual fees: Most cash back credit cards don't charge an annual fee, and those that do typically charge less than $100.
- Welcome bonuses: Bonus offers will depend on which card you choose, and some don't offer a bonus at all. Among top cash back credit cards, bonuses range from $100 to $300.
- Rewards rates: Cash back credit cards may offer a flat rewards rate on all purchases, tiered rewards with certain categories earning higher rates or rotating rewards categories that change throughout the year.
- Redemption options: Most cash back cards allow you to redeem your rewards as a direct deposit or statement credit, but some may also let you buy gift cards, book travel, shop online and more. Some cards only allow statement credits, which helps you pay down your credit card balance, but it limits your flexibility.
- Redemption value: In most cases, what you see is what you get: $100 in cash back rewards is worth $100. But with some cards, you may get more or less value, depending on how you use your rewards.
- Other notable benefits: Many cash back credit cards offer introductory 0% APR promotions on purchases, balance transfers or both. Others may offer statement credits on certain purchases, travel and purchase protections, and discounts with certain merchants.
- Credit requirements: Cash back credit cards are available to borrowers across the credit spectrum, though the best ones are typically reserved for people with good or excellent credit.
Best rewards cards of 2026
Compare cards from our partners that earn points, cash back or miles on everyday spending.
Offers from our partners
Citi Double Cash® Card
Intro APR:0% for 18 months on Balance Transfers
Ongoing APR:17.49% - 27.49% (Variable)
Rewards:2% (cash back)
Annual Fee:$0
Blue Cash Everyday® Card from American Express
Intro bonus:You may be eligible for as high as $200 cash back after spending $2,000 in purchases on your new Card in the first 6 months. Welcome offers vary and you may not be eligible for an offer. Cash back is received as Reward Dollars, redeemable for statement credit or at Amazon.com checkout. Terms Apply.
Intro APR:0% on Purchases and Balance Transfers for 15 months
Ongoing APR:19.49%-28.49% Variable
Rewards:1% - 3% (cash back)
Annual Fee:$0
Discover it® Chrome
Intro bonus:INTRO OFFER: Unlimited Cashback Match for all new cardmembers. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards.
Intro APR:0% intro APR for 6 Months on Purchases and 0% intro APR for 18 Months on Balance Transfers
Ongoing APR:17.49% - 26.49% Variable APR
Rewards:1% - 2% (cash back)
Annual Fee:$0
The opensky® Secured Visa® Credit Card
Ongoing APR:23.89% Variable
Rewards:10% (cash back)
Annual Fee:$35
Credit One Bank American Express® Card for Rebuilding Credit
Ongoing APR:29.74% Variable
Rewards:1% (cash back)
Annual Fee:$75 First year. $99 thereafter, billed monthly at $8.25
Blue Cash Preferred® Card from American Express
Intro bonus:You may be eligible for as high as $300 cash back after spending $3,000 in purchases on your new Card in the first 6 months. Welcome offers vary and you may not be eligible for an offer. Cash back is received as Reward Dollars, redeemable for statement credit or at Amazon.com checkout. Terms Apply.
Intro APR:0% on Purchases and Balance Transfers for 12 months
Ongoing APR:19.49%-28.49% Variable
Rewards:1% - 6% (cash back)
Annual Fee:$0 intro annual fee for the first year, then $95.
American Airlines AAdvantage® MileUp® Card
Intro APR:0% for 15 months on Balance Transfers
Ongoing APR:19.49% - 29.49% (Variable)
Rewards:2x (Miles per dollar)
Annual Fee:$0
Citi Strata Premier® Card
Intro bonus:Earn 60,000 bonus ThankYou® Points after spending $4,000 in the first 3 months of account opening, redeemable for $600 in gift cards or travel rewards at thankyou.com.
Ongoing APR:19.49% - 27.49% (Variable)
Rewards:1x - 10x (Points per dollar)
Annual Fee:$95
Costco Anywhere Visa® Card by Citi
Ongoing APR:18.74% - 26.74% (Variable)
Rewards:1% - 5% (cash back)
Annual Fee:$0
American Express® Gold Card
Intro bonus:You may be eligible for as high as 100,000 Membership Rewards® Points after spending $6,000 in eligible purchases on your new Card in your first 6 months of Membership. Welcome offers vary and you may not be eligible for an offer.
Ongoing APR:See Pay Over Time APR
Rewards:1x - 4x (Points per dollar)
Annual Fee:$325
First Latitude Secured Mastercard® Cash Back Rewards
Ongoing APR:27.49% Variable
Rewards:1% - 10% (cash back)
Annual Fee:$0
Citi® / AAdvantage® Platinum Select® World Elite Mastercard®
Ongoing APR:19.49% - 29.49% (Variable)
Rewards:2x (Miles per dollar)
Annual Fee:$99, waived for first 12 months
Avant® Cashback Rewards Mastercard®
Ongoing APR:35.99%*
Rewards:1% (cash back)
Annual Fee:$75*
Citi® / AAdvantage® Globe™ Mastercard®
Ongoing APR:19.49% - 29.49% (Variable)
Rewards:1x - 6x (Miles per dollar)
Annual Fee:$350
Avant® Cashback Rewards Mastercard®
Ongoing APR:35.99%*
Rewards:1% (cash back)
Annual Fee:Introductory fee of $75 for the first year. After that, $99 annually.*
Avant® Cashback Rewards Mastercard®
Ongoing APR:35.99%*
Rewards:1% (cash back)
Annual Fee:$39*
Credit One Bank® Platinum X5 Visa® Metal Card
Ongoing APR:29.74% Variable
Rewards:1% - 5% (cash back)
Annual Fee:$95
First Progress Prestige Secured Mastercard® Cash Back Rewards
Ongoing APR:13.49% Variable
Rewards:1% - 10% (cash back)
Annual Fee:$49
First Progress Select Secured Mastercard® Cash Back Rewards
Ongoing APR:17.49% Variable
Rewards:1% - 10% (cash back)
Annual Fee:$39
Credit One Bank® Premier American Express® Credit Card
Ongoing APR:29.74% Variable
Rewards:1% (cash back)
Annual Fee:$39
Marriott Bonvoy Brilliant® American Express® Card
Intro bonus:Earn 200,000 Marriott Bonvoy® bonus points after you use your new Card to make $6,000 in purchases within the first 6 months of Card Membership. Offer Ends 5/13/2026.
Ongoing APR:19.49%-28.49% Variable
Rewards:2x - 6x (Points per dollar)
Annual Fee:$650
Discover it® Miles
Intro bonus:UNLIMITED BONUS: Unlimited Mile-for-Mile match for all new cardmembers. Discover gives you an unlimited match of all the Miles you’ve earned at the end of your first year. There’s no signing up, no minimum spending or maximum rewards. Just a Miles-for-Miles match. You could turn 35,000 Miles into 70,000 Miles.
Intro APR:0% intro APR for 15 months on Purchases and Balance Transfers
Ongoing APR:17.49% - 26.49% Variable APR
Rewards:1.5x (Miles per dollar)
Annual Fee:$0
Delta SkyMiles® Gold American Express Card
Intro bonus:Earn 70,000 Bonus Miles after you spend $3,000 in purchases with your new Card, and an additional 20,000 bonus miles after you make an additional $2,000 in purchases on the Card, both within your first 6 months. Ends 04/01/2026.
Ongoing APR:19.49%-28.49% Variable
Rewards:1x - 2x (Miles per dollar)
Annual Fee:$0 introductory annual fee for the first year, then $150.
Credit One Bank® Premier American Express® Unlimited Rewards Card
Ongoing APR:29.74% Variable
Rewards:1% (cash back)
Annual Fee:$0
Hilton Honors American Express Surpass® Card
Intro bonus:Earn 130,000 Bonus Points plus a Free Night Reward after you spend $3,000 in purchases on the Card in the first 6 months of Card Membership. Offer Ends 4/15/2026.
Ongoing APR:19.49%-28.49% Variable
Rewards:3x - 12x (Points per dollar)
Annual Fee:$150
Delta SkyMiles® Blue American Express Card
Intro bonus:Earn 10,000 bonus miles after you spend $1,000 in purchases on your new Card in your first 6 months.
Ongoing APR:19.49%-28.49% Variable
Rewards:1x - 2x (Miles per dollar)
Annual Fee:$0
One Key™ Card
Intro bonus:Limited Time Offer: Earn $300 in OneKeyCash™ after you spend $1,000 on purchases in the first 3 months. OneKeyCash is not redeemable for cash and can only be used on Expedia®, Hotels.com® and Vrbo®. To learn more, please refer to the One Key Terms and Conditions at www.expedia.com/one-key-terms.
Ongoing APR:18.49%, 23.49%, or 28.49% Variable APR
Rewards:1.5x - 3x (Points per dollar)
Annual Fee:$0
One Key+™ Card
Intro bonus:Earn $350 in OneKeyCash™ after you spend $3,000 on purchases in the first 3 months. OneKeyCash is not redeemable for cash and can only be used on Expedia®, Hotels.com® and Vrbo®. To learn more, please refer to the One Key Terms and Conditions at www.expedia.com/one-key-terms.
Ongoing APR:18.49%, 23.49%, or 28.49% Variable APR
Rewards:2x - 3x (Points per dollar)
Annual Fee:$99
Avant® Cashback Rewards Mastercard® - With A Higher Credit Limit
Ongoing APR:35.99%*
Rewards:1% (cash back)
Annual Fee:$125*
Avant® Cashback Rewards Mastercard®
Ongoing APR:35.99%*
Rewards:1% (cash back)
Annual Fee:$0*
See all our best rewards credit cards for 2026.
How Points Work
Credit card points are a broad category that includes a range of credit card programs. For example, most general travel credit cards and hotel credit cards offer points, but even some frequent-flier programs use the term "points" instead of "miles."
Here are some features of points credit cards:
- Annual fees: Some points credit cards don't charge an annual fee, but high-end options can charge up to $695 each year. More commonly, you can expect an annual fee of around $100.
- Welcome bonuses: Bonus offers will depend on which card you choose, but many are worth $500 or more, and, in some cases, they can exceed $1,000.
- Rewards rates: Points credit cards may offer a flat rewards rate on all of your purchases or tiered rewards with certain categories earning higher rates.
- Redemption options: Your card will determine your redemption options. With general points credit cards, for instance, you may be able to get cash back, buy gift cards, book travel, shop online and more. But with hotel and airline cards, you may be mostly limited to free hotel stays and award flights—typically with the hotel chain or airline the card is through.
- Redemption value: Most points credit cards offer fixed redemption values based on how you use your rewards—for instance, travel may get you 1 cent per point, while shopping online offers just 0.8 cents per point. With hotel and airline rewards programs, however, redemption values may be dynamic and based on several variables.
- Other notable benefits: Depending on which card you choose, you may benefit from several extra features, including 0% intro APR promotions, hotel-specific benefits, other travel perks, discounts with certain merchants and more.
- Credit requirements: Most points credit cards require good or excellent credit.
How Miles Work
In the past, the term "miles" only referred to rewards you could earn with frequent-flier programs. But now, some airlines use the term "points" instead, while some general travel rewards programs use "miles." It can get confusing, but here are the main features:
- Annual fees: A few miles credit cards don't charge an annual fee, but most charge around $100 or more. In some cases, they can go as high as $550.
- Welcome bonuses: Bonus offers will depend on which card you choose, but many are worth $500 or more, and, in some cases, they can exceed $1,000.
- Rewards rates: Miles credit cards may offer a flat rewards rate on all of your purchases or tiered rewards with certain categories earning higher rates.
- Redemption options: Because most miles credit cards are airline cards, your best option is typically award flights. But with general travel cards, you may have more flexibility with other types of travel redemptions.
- Redemption value: General travel cards may offer a flat 1 cent per mile, but with airline programs, redemption values are often dynamic and based on several variables.
- Other notable benefits: Miles credit cards may offer airline-specific perks or general travel benefits.
- Credit requirements: Miles credit cards typically require good or excellent credit.
Frequently Asked Questions
Check Your Credit Before Applying for a Rewards Card
Most of the top cash back, points and miles credit cards are targeted to people who have good or excellent credit. That generally means having a credit score in the upper 600s or higher.
Before you apply for a new credit card—or any type of credit for that matter—check your credit score to get an idea of where you stand. If it needs some work, take time to improve your credit before you submit an application. Then, Experian can help you find rewards credit cards matched to your credit profile.
Get the rewards you deserve
Cash back? Miles? Points? Whatever suits your goals, we can help match you to personalized rewards card offers. Start with your FICO® Score for free.
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About the author
Ben Luthi
Ben Luthi has worked in financial planning, banking and auto finance, and writes about all aspects of money. His work has appeared in Time, Success, USA Today, Credit Karma, NerdWallet, Wirecutter and more.
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