The great credit card debate: Frequent flyer miles or cash rebate?

For many consumers, choosing a credit card comes down to choosing a future stream of awards. Among these awards, two of the most popular are frequent flyer miles and cash back.

It's always financially prudent for miles collectors to ask whether there are more lucrative rebates to be had outside the realm of travel rewards. However, it's even more important now, in light of the significant decline in the value of frequent flyer miles in recent years.

All travelers should consider whether it would be a better deal to trade in their airline card for a cash-back card. Or, perhaps, the best move is to carry both.

A range of rebate cards

Among the many credit cards that use cash rebates as their central selling point, the following three represent a sample of the options available to consumers.

First, the Discover More card from Discover is a descendant of one of the original rebate cards. It takes a tiered approach to awards, rebating 0.25 percent on the first $1,500 in yearly charges, 0.50 percent on the second $1,500, and a full one percent on charges exceeding $3,000.

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