How We Rank Cards

Every ranking, comparison, and recommendation on PayWithThis is driven by a single number: effective return percentage.

effective return = earn multiplier × point value

A card earning 4x points worth 1.6¢ each returns an effective 6.4% on that purchase — more valuable than a card earning 5x points worth only 1¢ (5%). Comparing multipliers alone hides this; effective return makes different point currencies directly comparable.

Each rewards currency in our database carries a baseline valuation in cents per point. These are our editorial estimates of a reasonable, realistically achievable redemption value — not the best conceivable transfer-partner redemption, and not the worst cash-out floor. Cash-back currencies are always exactly 1¢.

Valuations are opinions, and yours may differ. Signed-in users can override any currency’s valuation, and every effective return on the site is then recalculated from those personal numbers.

A high multiplier with a low spending cap is worth less than it looks. We track quarterly and annual bonus caps, display them alongside every rate, and — for signed-in users — track your spend against each cap so recommendations switch to your next best card once a cap is exhausted. Rotating quarterly categories are stored per calendar quarter and only counted when active.

“Best cards for dining” pages rank every enabled card in our database by effective return within that category, including each card’s base rate when no bonus applies. Merchant pages apply the same math to the categories a merchant belongs to, plus any card rules that target the merchant directly.

The Advisor and annual-fee (ROI) tools are calculated marginally: a card is valued by how much it adds beyond what your existing cards already earn, based on the spending profile you enter or import. A great dining card adds nothing if your wallet already covers dining — our recommendations account for that.

Welcome bonuses are displayed but excluded from effective-return rankings — they are one-time payments, not ongoing earning power. We also do not model card benefits (lounge access, credits, protections) in the core formula; annual-fee analysis on the ROI page treats those separately. Taxes, foreign transaction fees, and financing costs are out of scope: rewards never outweigh carrying a balance.

Issuers change rates, fees, and categories frequently. We update the database as terms change, and because every page reads from the same source, corrections propagate site-wide immediately. Found an outdated rate? Use “Report a problem” in the footer or email support@paywiththis.com. Always confirm current terms with the issuer before applying — see our Disclosures for the full picture of our independence and limitations.