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Best for U.S. supermarkets
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Blue Cash Preferred® Card from American Express
$250 cash back
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Chase Sapphire Preferred® Card
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80,000 points
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American Express® Gold Card
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35,000 bonus points
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Capital One® Venture® Rewards Credit Card
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50,000 miles
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There isn’t a strict mathematical formula at work here. At some point we’d like to create a system that could calculate a precise value based on award availability, fees, award levels and ease of accrual, but for now these valuations are based on a combination of how much TPG would pay to buy points if given the opportunity, and the overall value I could get from redeeming them.

2.0¢
Chase Ultimate Rewards
2.0¢
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1.7¢
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1.8¢
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1.4¢
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1.5¢
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1.2¢
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1.3¢
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1.7¢
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0.8¢
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Editorial Note: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.