![]() You authorize and direct us to invest or deposit free credit balances, including dividends, interest, or other cash we receive for your Account, in your Settlement Choice within a reasonable time after receipt. Except as provided elsewhere in this Agreement, WFA will give you advance notice of any such change in a Settlement Choice. WFA may, at its discretion, change or replace the available Settlement Choice. The Cash Sweep Vehicle, free credit balance or linked bank deposit account are collectively referred to below as your “Settlement Choice.” The Cash Sweep Vehicle will be used in connection with settlement of transactions in your Account, unless you select ( if available) not to have a Cash Sweep Vehicle and instead select free credit balance or link your Account to a bank deposit account (collectively the Cash Sweep Vehicle, free credit balance or a linked bank account are referred to herein as the “Settlement Choice”) to be used in connection with settlement of transactions in your Account. ![]() Ultimate Rewards is a system with several advantages, including flexible redemption options, so you can make the most of your rewards.Cash Sweep Vehicle refers to the automatic deposit of uninvested funds in an Account into either the Bank Deposit Sweep or an available money market mutual fund or such other sweep arrangements made available to you. With many Chase credit cards, including cash back cards, you earn Ultimate Rewards points based on your spending. This normally means that each point has a dollar equivalent when redeemed. As you make purchases with your card, you may earn your cash back as points. Nowadays, credit cards often calculate your cash back rewards in points. You'll also be able to view the dollar equivalent of your points and redeem them for cash back if you'd like. When you're ready to redeem your points redeem through Ultimate Rewards, you'll see your choices. While rewards programs differ, there may be some distinct advantages to having a credit card that calculates your rewards in points. With eligible cards, Ultimate Rewards can also be traveled to certain travel partners. You could also redeem points for gift cards, travel, select retail shopping and more. With Ultimate Rewards, for example, you're not limited to redeeming points for a statement credit or deposit to a bank account. Points are a common form of rewards, even for cash back cards, because points can be versatile. This flexibility is one upside to earning rewards points with your credit card, even if your goal is to earn cash back on your purchases. ![]() cash backĬredit card rewards programs that use points often have a variety of redemption options. You could request a deposit into a checking or savings account, or you could request statement credit. When you redeem rewards points for cash back, you normally have at least two options. Other credit card issuers may handle your cash back rewards differently. Once Ultimate Rewards points post to your account, you can redeem them in various ways, including as cash back. With many of our cards, you earn Ultimate Rewards ® points on your purchases.Įven if you have a cash back credit card, the cash back you earn on your purchases is first calculated in Ultimate Rewards points. There is not much of a difference between points and cash back if you have certain rewards credit cards from Chase. So is there any difference between points and cash back? Points vs. When redeemed for cash back, each point likely has a dollar equivalent, such as one point to one cent. The exact calculation of the cash back you earn as points varies from card to card, but they often post to your account once per statement cycle. Miles are another form of rewards, and they're usually the rewards currency certain travel credit cards use.Įven if you have a card that earns cash back on your purchases, your rewards may post to your account in the form of points. The type of rewards you earn depends on the card, and points are common. Typically, you'll earn a certain number of points for each purchase you make. With most credit cards, you might earn rewards on your purchases. How can you earn rewards with a credit card? But the right question might be if there is even a difference between cash back and points? Let's have a look. When trying to find a card, you may have asked if cash back or points is better. Credit card rewards may be confusing given how many cards are on the market.
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