Cash rebate, points and miles
現金回贈、積分與里數
A cash rebate returns a percentage of your spending to your account or against your bill, so its value is plain. Points and miles are converted into gifts or flight miles at rates the issuer sets, so their value depends on how you redeem them, and they may carry a conversion fee or an expiry date. When comparing, look at the reward rate, the cap on the reward and which spending categories count.
Example
Suppose you spend HK$10,000. The earning rates and redemption values below are assumptions.
- Cash rebate 1%
- HK$100
- Points: 1 point per HK$2
- 5,000 points
- Points: 100 points = HK$1
- HK$50
- Miles: 1 mile per HK$5
- 2,000 miles
- Miles: HK$0.08 per mile
- HK$160
The same spending works out to HK$100, HK$50 and HK$160; what points and miles are worth depends on how you redeem them.
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This page is information, not investment, lending or tax advice.