Originally Posted by
ankitgu
Currently:
My preference is for sign up bonuses and then airline miles. The easier the miles are to redeem, the better.
Penfed Amex has $200 equivalent sign-up bonus and 5% back on airfare, no caps...and no foreign exchange fees or annual fee.
Occasionally there are bonus promos, such as last summer when it ran 5% cashback on dinning and hotels. Points don't convert directly to cash but you can get gift cards for Fairmont, Hertz, etc. or use points to book travel directly.