i got into the miles game because the cashback cards have monthly minimum spend, which i often cannot meet. the banks subseqently implement a cap on the amount of cashback per catergory which makes them even more unattractive to me. i have since moved to the US and the cashback cards here do not have these requirements, so i am thinking that they maybe better than rewards cards.

by and large, i think you can find a card that nets 5% cashback, while you are likely looking at 3 miles for a rewards card. i know there are cards with higher earning power, but they also likely charge higher annual fees, thereby offsetting the higher earning power. comparing 5% to 3 miles, you are essentially trading $0.0167 for each mile. this number is higher than the valuation of most miles i see posted online.

Sure, you can get outsized value for miles, but cashback would be far easier. no need to keep track of your miles, full flexibility when buying tickets, no risk of expiry and devaluation. im undecided on this and would like to hear some thoughts. thank you