Why all travelers should earn transferable credit card points - The Points Guy

LTC Eugene Chu
..."The flexibility of transferable points comes with several advantages:

Increased award availability. As you’d expect, searching for open awards on 10 programs yields more options than limiting yourself to one.
Access to sweet spot awards. When you’re ready to book, you can transfer points to the program that offers the best price for your chosen award.
Freedom from commitment. You can earn rewards on an ongoing basis and determine where you want to go and how you want to use your points later.
Protection against devaluation. Even if one airline or hotel program suffers a major devaluation, you can still use your points with another transfer partner.
Option to bypass blackout dates and other restrictions. When you can’t find the perfect airline or hotel award, you can use your points to book travel through the program’s booking portal at a fixed value (typically 1 to 1.5 cents per point).
For travelers who are focused on rewards, rather than in-flight benefits like free checked bags or priority boarding, credit cards that earn transferable points are frequently the best solution."