2% cash back cards are readily available.
The Everyday Preferred gives me 1.5% on everything, and 4.5% on groceries and 3% on gas (which I don't really buy a lot of) - I *will* hit the 30 transaction minimum every month.
With 1.66c per point, and 1.5% points, this is the equivalent of 2.49c per point, and that is a pretty good redemption.
I'd need to hold out for transfer bonuses of better than 40% to do better - or transfer to good partners where the J and F points redemptions are better than 40%