"I've earned a lot of credit card rewards over the year. I'd like them to help cover holiday costs, but I'm not sure if I should use them for gifts or travel. What are my best options?"

With the holidays fast approaching, it's a smart strategy to use cash back, points and miles to help pay for gifts and travel expenses. But it can be hard knowing how to spend them. One reason is that each type has a different monetary value. For example, cash back is worth the dollar amount you earn with each purchase, while points and miles vary in value depending on how you redeem them. Here, Emily Thompson, a credit card rewards expert for ThePointsGuy.​com, shares simple tips to help you pinpoint your best options.

- GABRIELLE LICHTERMAN

Find the current values easily

When looking to get the most bang for your buck, the goal is to spend the least number of points or miles on purchases with the highest value, like electronics and airfare. "Each credit card system of rewards is different, so the first step is to log on to your card's redemption portal," says Thompson. For example, you can compare American Express point values at Global. American Express.​com/rewards/ calculator. There, you can find out how many points you'll need to buy directly on Amazon, how many points to get cash back for purchases and what your options are for using them for travel.

Get the most from your points

Program details differ from issuer to issuer, but there are a few rules of thumb about redeeming rewards that can help you make your best buying decision. Read on!

• Planning to travel?