The standard options
- Statement credit: applied to your card balance. Most cash back cards offer it.
- Direct deposit: cash into a bank account. Wells Fargo deposits to a Wells Fargo checking or savings account. Citi offers bank deposit or check.
- Amazon checkout: Amex Reward Dollars can be applied at Amazon checkout. Capital One also lets you redeem at Amazon and PayPal.
- Gift cards: Discover allows gift card and eCertificate redemptions with a $5 minimum.
Minimums and expiration by issuer
| Card / issuer | Cash options | Minimum | Expiration |
|---|---|---|---|
| Capital One Quicksilver, Savor | Statement credit, check, Amazon, PayPal | None (any amount) | Don't expire |
| Discover it Cash Back | Cash, gift cards, eCertificates | Any amount for cash; $5 for gift cards | Not confirmed |
| Amex Blue Cash cards | Statement credit, Amazon checkout | No minimum | Don't expire while account is in good standing |
| Citi Double Cash | Statement credit, bank deposit, check at 1¢ per point | Not confirmed | Not confirmed |
| Wells Fargo Active Cash | Statement credit, Wells Fargo account deposit | Not confirmed | Not confirmed |
| Chase Freedom cards | Cash at 1¢ per point | Not confirmed for cash | Don't expire while account is open |
Where we couldn't confirm a rule on an issuer or review page, it's marked "not confirmed." Check your card's rewards terms.
Combining Chase points
Chase Freedom Unlimited and Freedom Flex earn Ultimate Rewards points worth 1 cent each as cash. Chase lets you move points between your own Chase cards with no minimums or fees. For example, you can move points from a Freedom card to a Sapphire Preferred or Reserve, which open up travel redemptions and transfer partners.
NerdWallet's September 2026 valuations put those points at about 1.4 cents with a Sapphire Preferred and 1.8 cents with a Sapphire Reserve. You can also combine with one household member at the same address. Transfers can't be undone, so move points only when you plan to use them.
Citi ThankYou points from the Double Cash
The Double Cash earns ThankYou points, 1 per dollar. They redeem at 1 cent each as a statement credit, deposit or check. NerdWallet notes they can also be transferred to Citi travel partners. NerdWallet values Citi ThankYou points at 1.2 to 1.7 cents depending on card tier, so the upside depends on which other Citi cards you hold.
Simple rules for getting the most
- Default to cash. A statement credit or deposit at 1 cent is a fair, certain value.
- Move to points only with a plan. Transfer to a travel card only for a specific booking, and compare the points price to the cash price first. See maximizing travel rewards.
- Don't sit on rewards if the account might close. Chase says Ultimate Rewards don't expire while the account is open. Redeem before you cancel any card.
- Don't pay interest to earn rewards. At APRs near 18% to 28%, interest outweighs 2% back. If you carry a balance, look at paying off a balance transfer first.
- Use the full category value first. The best redemption can't make up for using the wrong card. Our guide to choosing a card helps with that.
Cash or travel?
If you're weighing whether to keep earning cash or switch to a points card, read cash back vs. points. For cards that make redemption easy, see the best cash back cards. Card terms change often, so check the issuer's site before you apply.
Frequently Asked Questions
For most cash back cards, a statement credit or bank deposit is worth 1 cent per point. That's the standard cash value. You can get more only by moving eligible points, such as Chase Ultimate Rewards, to a travel card and redeeming for travel.
It depends on the issuer. Capital One says Quicksilver and Savor rewards don't expire. Amex Reward Dollars don't expire while the account is in good standing. Chase Ultimate Rewards don't expire while the account is open. Redeem before closing any card.
Capital One and Amex have no redemption minimum, and Discover lets you redeem any amount for cash, with a $5 minimum for gift cards. Check your card's terms for others.
Chase allows combining points with one household member at the same address. Transfers can't be reversed, so confirm before moving points.
How to combine Chase points in a household — Chase
Chase Freedom Unlimited review — NerdWallet
How Amex cash back Reward Dollars work — American Express
Capital One Quicksilver review — NerdWallet
Capital One Savor — Capital One
Discover it Cash Back review — NerdWallet
Citi Double Cash review — NerdWallet
Wells Fargo Active Cash review — NerdWallet
Airline miles and hotel points valuations — NerdWallet
Card terms, rates and fees change often and APRs are variable. Information was checked in October 2026; confirm current terms on the issuer's website before applying. MoneyVerge may be compensated by some card issuers; this does not affect our assessments.