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Depends on what your travel goals are and how much work you want to put in.
Chase is generally more beginner-friendly and people love Ultimate Rewards for the good base value and Hyatt redemptions.
AmEx Membership Rewards has the best transfer partners for airlines, but you really, really have to know what you’re doing to get good value out of them.
If you’re a beginner or you don’t want to work that hard to get value out of your points, either do UR or cashback.
MR are for intermediate to advanced players.
Eventually, ideally, you’ll want both for different reasons.