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