The original 40,000 signup bonus is worth $200 when redeemed for cash back, but worth about $440 when redeemed for travel. For all future spend, given it is 2 points per dollar, spending is 1% cash back and 2.2% for travel.

The best use for the card is on travel expenses that cannot be defrayed with miles - fuel surcharges and taxes, hotel stays where the customer cannot redeem miles, cheap airline tickets, trains and car rentals, Orbitz/Priceline/Expedia, etc.

Any single travel expense charge can be redeemed against, as long as it stays on the customer's bill.