Editorial note: This is a recurring post, regularly updated with new information and offers.
Quick summary
- A flexible redemption feature allows many rewards cardholders to offset recent purchases with points at varying rates, often approaching the value received for travel bookings.
- Eligible categories and redemption rates change periodically, with some current offers available through December 31.
- Certain airline and hotel cobranded cards also participate, sometimes offering higher redemption values for specific purchases or categories.
- Redeeming for statement credits via this method is generally more valuable than standard cash-back options, though not always as high as transferring to travel partners.
What to consider
- Eligible purchases typically include select charities, department stores, grocery stores and certain travel or dining merchants, with some categories excluding major retailers like Target and Walmart.
- Redemptions are usually limited to purchases made within the past 90 days, and some categories or cards have annual or promotional caps.
- TPG values these points at 2.05 cents each as of October 2026, making some redemption options less optimal than transferring to travel partners.
What you'll miss from the article
- Step-by-step guidance on using this redemption feature and a detailed breakdown of eligible categories and rates for different card types.
