Points vs Cash Back: Which is Better?

[@LifeWithVinceLuu]

There's been times that I've used the points and been times where I used the cash back. Totally agree with you; it all really just depends (just like with anything in life!).

[@markplymale]

Boom! Nailed it!!

[@jononfirebudgetinginvestin3897]

I am focusing on points right now in order to travel! The points are harder to use, but I value experiences. Plus, it really makes the credit card rewards truly feel like rewards!

[@markplymale]

That’s a good point! Cash back is really just a discount. Points are actually a reward. Good way to look at it! And I’m definitely there with you. Give me all the MR and UR points I can get haha

[@jf5052]

Cash back for the foreseeable future. AmEx and Chase bought a tremendous amount of points/miles from their travel partners (Delta/United/Hilton, etc.) at HUGELY discounted rates that are bound to depreciate when COVID is over. Banks are also giving bonus points in multiple spending categories now - so when everyone has a ton of points - they don't value as much.

[@markplymale]

Great way to look at it! Yeah it’s super easy to rack up points via spend right now, which like you said can definitely devalue them to a certain degree

[@dcrump]

Exactly why I subscribed to you.... like thinker 💪💯💯

[@markplymale]

💯💰

[@Hughsteph]

Thanks for the info 💯💯

[@DerikAasansLevelUpTravel]

I have been going points/miles the last 5 years or so, BUT baby on the way in 1.5 months and don’t think I’m going to be traveling a ton. Going from heavy Amex to US bank Altitude Reserve, capitalone venture and SavorOne. Probably downgrading Venture to ventureOne and using my Paypay master card to replace.

[@TheAndrewLopezFinancePodcast]

Personally a bigger fan of cash back. Unless you use transfer partners, you can get higher cash back with less annual fees. Think any combination of using 5% card, the BOA preferred reward system for the cash rewards cards, the citi double cash back, and/or using card with 3% categories (Amex everyday card, capital one savor, etc)

[@markplymale]

Totally fair! Cash back is clean and simple and you always know exactly what you’re gonna get back

[@donniebrasco7725]

NICE VIDEO!!! KEEP UP GOOD WORK. STAY SAFE

[@markplymale]

Appreciate it man!! You stay safe as well!!

[@chancejones8689]

Yay another great video with great information!!!!!!! I’ve always kinda wondered which is better since I’m pretty new to the cc game. Thanks again Mark!!!!!!

[@markplymale]

Appreciate it Chance!! Glad it was helpful!

[@ThatCho]

Basically it boils down to a few factors: - how hard do u wanna work to get my redemption? - how much do I value flexibility in what I redeem it for? - how much do I value traveling, specifically international or aspirational travel? Great video!

[@markplymale]

Yep very well said! Thanks Cho!!

[@avsterbone]

Makes too much sense

[@markplymale]

Right? Haha

[@Keyumiz]

@5:14 Don't you mean that when you pay with credit card you pay slightly more than if you pay with cash because of the fees?

[@markplymale]

Nope I explained the cash tax correctly. Since you get no rewards when paying with cash, you pay more

[@P.I.P.E.L.I.N.E_Podcast]

Well I have 1 point card and 4 cash back cards🤷🏾‍♂️

[@markplymale]

I only have 1 true cash back only card and 7 “point” cards haha I’m way more so into the points but 5% cash back is tough to beat

[@P.I.P.E.L.I.N.E_Podcast]

Mark Plymale another way to look at cash back getting more value is just pooling all cash back rewards into a high yield savings account and earning interest month to month as well 🤷🏾‍♂️

[@markplymale]

Ohhh I love that strategy!! Turning free now eh into more free money 💰💰💰💰

[@juliusgil6419]

Cash back. Points are generally hard to redeem

[@markplymale]

Fair enough! Points for sure take a little bit more leg work

[@P.I.P.E.L.I.N.E_Podcast]

First, I’m both teams mark

[@markplymale]

I agree with team both!

[@cjmor6590]

Cash back is nice in for niche purchases like at a specific store that has higher cash back percentage than average but I slightly have a biased towards points on everyday purchases because u have more options on redeeming and almost always can cash out points if needed

[@markplymale]

Yep those are my thoughts exactly. If I’m gonna get 5% cash back ok I’ll take that all day, but I’m always trying to get UR or MR points instead because of how valuable they can be once they’re transferred

[@davidvallejo5867]

Hey mark , congrats on your growing channel! Have you planned any international travel in the near future with your rewards ? I'm trying to use my amex and chase points to travel at some point lol. Also do you have a video on how to use the ultimate portal and amex portal to book travel the most efficient way?

[@markplymale]

Thanks David!! I currently do not have any international trips planned due to the virus, but after my wife and I buy our house we’re gonna start accumulating Hilton points/diamond status via SUBs from the Aspire and regular Hilton Amex cards. Going to use those points to go to either Malta or the Maldives in 2021 assuming the travel climate is good to go by then! I actually don’t have a good tutorial video on either of those portals... which means I need to make those videos in the very near future! haha