I find cash rebate a better deal. My buisness travel has slowed to a crawl. I travel more for pleasure, but have a very hard time redeeming FF points for good dive locations. So I prefer cash.

Discover (1% back) is my primary cash-back card, used for everyday. I used to have Fleet VISA for foreign travel (2% back, but they just switched me to a points instead of cash program. Points redeemable for worthless crap from their catalogue. I will cancel the card at the end of the program year when I get my $500.)

Chase MC (3% back redeemable for a Subaru). I maxed the Chase reward on I-series bonds to get the Subaru bucks.

The most cost-effective use of FF points for me is to do a class upgrade. But since my business travel is curtailed, the points just sit. From time to time I donate them to Make-A-Wish.