Same.

I value my HHonors points at around .07, so with the 6 pts per dollar on groceries, its effectively a 4.2% return.

Not as good as the 6% CB from the Blue card, but there is no $75 annual fee on the free Amex Hilton. Plus, the 6% only kicks in after you spend $6,500, which only gets 1% up to that point.

So for me, where I spend about $10000 in groceries a year, I'd only be getting the 6% rate on the $3500 above the base $6500 threshold.

So the math is: 10k spend on the blue card would be $6500 x 1% = $65 + $3500 x 6% = $210, or $275 Cashback, minus $75 annual fee = $200

vs $10k x 4.2% (value from my HHonors card) = $420 .. double the return basically.

Of course if someone is buying thousands in Gift Cards, or they dont value HHonors the same (or dont care for Hilton) the math changes substantially.