Beginners Guide to Points & Miles

1. The one idea that matters

There are two kinds of rewards. Fixed-value (cash back, where a point is worth one cent, always) and transferable points (Chase, Amex, Capital One, Citi, Bilt), which move into airline and hotel programs where a point can be worth two, three, sometimes ten cents. Everything on this site flows from that difference.

2. Bonuses are the engine

The welcome bonus on a single card routinely outearns years of regular swiping. A 100,000-point bonus at 2 cents per point is $2,000 of travel from one application. This is why we chart offer history on every card: the same card can pay 60k one month and 150k another. Timing is money.

3. Know the rules before you apply

Banks limit approvals. Chase's 5/24 rule means five new cards in 24 months locks you out of Chase, so most people start with Chase cards first. Amex bonuses are once per lifetime per card. Every rule we track lives on the issuer pages.

4. A sane first setup

• First card: Chase Sapphire Preferred when its bonus is 75k or higher. Full transfer partners for $95.
• Second: Freedom Unlimited, a no-fee catch-all whose points pool into the Sapphire.
• Third: match your biggest spend category. Foodies take the Amex Gold; renters take Bilt; simplicity people take the Venture X.

5. Never do these

• Never carry a balance. Interest erases every reward, instantly.
• Never redeem transferable points for cash or merchandise. That is the floor price.
• Never apply without checking the offer history chart first.