If this is what you're interested in, the Fidelity Amex is probably a better deal. No fee, straight 2% cash back on everything.

Disadvantage is that you have to have a Fidelity account, and it's an Amex which is not universally accepted (but about 98% of the time in the USA).

Cash is always better than the quasi-cash you get on cards like that, although I'm certainly not saying it's bad.