 TITLE: Do Cash Back or Travel Rewards Offer the Most Value? CONTENT: When to Get a Travel Rewards Credit Card\n----------------------------------------\nTravel rewards cards offer points or miles as rewards and may be best if:\n*   You frequently travel or want to use your rewards for vacations.\n*   You're ready to invest time in learning about rewards programs.\n*   You don't mind paying annual fees in exchange for more rewards and benefits.\nYou can either get a co-branded travel rewards card, such as an airline or hotel card you can use to earn points or miles in the company's loyalty program, or a general travel rewards card that offers points or miles in the credit card's rewards program.\nA co-branded card may be best if you frequently fly or stay with the same few brands. In addition to earning points or miles from your purchases, some cards offer extra perks, such as free checked bags, status in the company's loyalty program or an annual voucher for a free hotel night.\nGeneral travel rewards cards offer fewer brand-specific perks, although some do have partnerships with specific brands. They also give you more freedom when it comes to redeeming rewards.\nFor example, with Chase Ultimate Rewards or American Express Membership Rewards, you can choose to redeem your points for cash back, merchandise, gift cards or travel. You can also transfer your points to partner airline and hotel loyalty programs, which could allow you to book a rewards flight or stay for fewer points than your card issuer would require.\nTo make the most of your points, you'll want to learn about the many redemption options and which ones offer the most value. Often, it's booking travel with points or transferring the points and then booking rewards travel.\nThe travel cards with big earning power and extra cardholder perks have annual fees that can range from around $100 to $550 per year. While it can be an expensive investment, frequent and luxury travelers may find the benefits far outweigh the cost.\nThere are also travel rewards cards that don't have an annual fee, but they often offer a similar level of rewards (or sometimes less) than you can earn with a cash back card that doesn't have an annual fee. END