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Cash back is king for credit card perks

Dion Rabouin, author of Markets
Expand chart
Reproduced from a CreditCards.com report; Chart: Axios Visuals

A new survey from CreditCards.com finds that in addition to being the most sought after credit cards, ones that offer cash back were the most likely to be redeemed (88% did so at least once).

The big picture: "The math says that transferable travel rewards are the most valuable, but it takes time and effort to maximize them, whereas cash back offers simplicity and universal appeal," Ted Rossman, industry analyst at CreditCards.com, said in a statement.

Go deeper ... Warning: Signs of credit crisis grow

Go deeper

Courtenay Brown, Felix Salmon
41 mins ago - Economy & Business

U.S. economy adds 245,000 jobs in November as recovery slows

Data: BLS; Chart: Axios Visuals

The U.S. economy added 245,000 jobs in November, while the unemployment rate fell to 6.7% from 6.9%, the government said on Friday.

Why it matters: The labor market continues to recover even as coronavirus cases surge— though it's still millions of jobs short of the pre-pandemic level. The problem is that the rate of recovery is slowing significantly.

Go deeper (<1 min. read)Arrow
Axios
2 hours ago - Health

Fauci says he accepted Biden's offer to be chief medical adviser "on the spot"

The government's top infectious-disease expert Anthony Fauci said Friday that he "absolutely" will accept the offer from President-elect Joe Biden to serve as his chief medical adviser, telling NBC's "Today" that he said yes "right on the spot."

Why it matters: President Trump had a contentious relationship with Fauci, who has been forced during the pandemic to correct many of the president's false claims about the coronavirus. Biden, meanwhile, has emphasized the importance of "listening to the scientists" throughout his campaign and transition.

Go deeper (1 min. read)Arrow
Axios, Shawna Chen
Updated 3 hours ago - Politics & Policy

Highlights from Biden and Harris' first joint interview since the election

Joe Biden. Photo: Mark Makela/Gettu Images

President-elect Joe Biden and Vice President-elect Kamala Harris sat down with CNN on Thursday for their first joint interview since the election.

The big picture: In the hour-long segment, the twosome laid out plans for responding to the pandemic, jump-starting the economy and managing the transition of power, among other priorities.

Go deeper (2 min. read)Arrow