Originally Posted by nsx

I have a 2 percent card from Capital One. I like it. But I prefer the Southwest card right now because:

1. Some taxes are waived for points bookings, bringing the savings on a short-haul deep discount ticket to more than 2 cents per point.
2. Points bookings are more valuable than cash bookings because they are refundable to the account and re-usable by any traveler.
3. I have the option to convert 19.2k points to a standard award which can be worth more than $400, again exceeding 2 points per dollar.
4. The points count toward Companion Pass renewal, which is not nearly as easy to reach as it was when you buy low-fare short-haul tickets.

If you don't plan to maximize the value of your points in these ways, or if you find it inconvenient, then by all means go with the 2% cashback card.