Let’s take Chase for an example. I have heard that a Chase Ultimate Rewards point is worth 1.25 cents when redeemed for travel. This is very good, however, why would anyone get a Chase Freedom Unlimited card with a 1.5x return (or 1.5 * 1.25 = 1.875%) instead of Citi Double Cash which gives 2% cash back. Couldn’t one simply use the cash they get back from the 2% cash back card and put it towards travel? Or is there something that I am missing?