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One thing to note is that X1 points have fairly limited redemption options [1].

There are several cards that offer no annual fee + straight 2% cash back, like PayPal Mastercard, Citi Double Cash, Wells Fargo Active Cash, etc. Also, they tend to have better sign up bonuses ($100-$200) compared to just a few more points.

[1] https://frequentmiler.com/x1-card-too-good-to-be-true-heres-...

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That citation is from 2020, and https://x1creditcard.com/legal/program-terms#x1-card-rewards... indicates you can redeem points 1point:1cent as statement credits.

And of course reddit points out they have cut that down to 0.7 cents

So I'll bet that cash back was always a lower rate. Their terms are rather evasively written, but my reading is that they have two different redemption categories, both called "statement credit":

1) "eligible Rewards Partner transaction" statement credit

2) general "Cash Back Statement Credit"

From the link you provided, they tell you that 2) can be a lower rate, but they don't tell you what that lower rate is. But I did see the recent reddit discussion saying that it's 0.7 points.

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