Rewards Type

Explanation: The most common categories of rewards are:

-- 'Miles' will either give you:
Miles on the frequent flyer program of a particular airline (e.g. Delta Miles) OR
Miles on a credit card company's rewards program (e.g. Capital One Miles)

-- 'Cash Back' will give you Cash (or a "Rebate") that is a percentage of the purchases you make (e.g. 1% Cash Back)

-- 'Hotel Points' will give you points on the rewards program of a particular hotel chain (e.g. Hilton points)

-- 'Points' will give you points within the credit card company's rewards program (e.g. American Express Membership Rewards Points). They usually can be redeemed for merchandise, gift certificates, and travel.

Our Thoughts: Cash Back is the best type of rewards because you can use it anywhere and you know exactly what you are getting.