My bank’s credit card rewards exchange rate makes no sense to me

My bank’s credit card rewards exchange rate makes no sense to me I am looking to redeem some of my rewards and there are options for physical merchandise, or cash back. Some of these values make no sense. First here are the cash back values: https://gyazo.com/d1aca4176f59a817462f32793aacbaaf Based on these point amounts, we can say that 100 points is roughly worth $1 of cash back. So far so good. Now take a l...

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