Sorry for the late reply but dark and stormy pretty much nailed it on the head. When I say "good for 2,100 of travel, I mean exactly that. This past summer I used the chase portal to book a flight for two to the northwest and all around alaska plus a hotel for a few nights in seattle. I then used more points to book other vacations-flights, hotels, rental cars, you name it. Some people like to spend points on super fancy rooms or flights but we just like to make them stretch as far as possible by doing same ole flights with normal hotel rooms. Recently paid for flights and hotels include: Seattle, Alaska, Boston, Florida, Colorado. One thing people really start looking at when accumulating points is how many cents per point are you getting. if you take the cash back version, one normally gets 1 cent per point: $1,000 for 100,000 points. If I transfer my points to Southwest and book flights, I can calculate the cents per point by looking at the price in points: say 7,000 versus the price in money: say $210. In that scenario, I would be getting 3 cents per point, stretching my points a lot further than just taking the cash back option.
Happy churning!