Last updated Mar. 12, 2023 by Charles Zemub
You’ve come to the right place if you’re looking for a good-rewards debit card. The world of rewards has exploded in recent years, and there are dozens of options for consumers who want the best deals possible on their purchases.
But how do you know what’s worth it? We’ve done some research and found some of the best offers available on debit cards.
If you’re looking for a rewards debit card, look no further than the Chime Visa Debit Card. This card offers 1% cash back on all purchases and 5% cash back on select categories like restaurants and gas. In addition, you can earn an extra $2 at sign-up by registering for direct deposit.
The downside is that it has a $3 monthly fee; however, if you have an average daily balance of $15,000 or more in your linked checking account (or linked savings account with at least ten transactions per month), this fee is waived.
ING Electric Orange
ING Electric Orange offers various rewards, depending on how and where you use your card. If you’re looking for a flexible rewards program that doesn’t penalize any single type of purchase, this is the card for you. You can earn 5% back on purchases made in the following categories:
- Gas stations (excluding convenience stores)
- Grocery stores
- Home improvement stores
The rewards are capped at $250 per quarter. If your total eligible purchases exceed $1,500 in one quarter, only half of that amount will count toward your reward limit. For example: if you spend $2,000 during one three-month period and want to maximize your points with ING Electric Orange.
Pay those dollars at grocery stores or drugstores instead of gas stations or home improvement stores. Otherwise, they’ll just cut into your average earnings per transaction.
BBVA Compass ClearSpend
- 1.5% cash back on all purchases
- No annual fee, foreign transaction fees, or minimum balance requirement
- No monthly maintenance fee or overdraft fees
- No late payment fees
Fidelity Cash Management Account Debit Card
- 1% cash back on all purchases
- No annual fee
- No foreign transaction fees
- No balance transfer fees
- No cash advance fees
- No overdraft fees (if you don’t have one, then this card is perfect for you)
- No late fees (if your account is in good standing) * * * If it’s not, then maybe look for another card on this list! We’ve got some other good ones listed below.
Charles Schwab High Yield Investor Checking Debit Card
The Charles Schwab High Yield Investor Checking Debit Card offers an impressive array of rewards that can be used for travel, cash back, dining, and charitable donations.
There are no annual or foreign transaction fees, making it an excellent card for international travelers. You’ll also get no balance transfer fee or cash advance fee—but don’t get too excited: there is a $5 late payment fee, along with the standard $35 penalty APR on balances not paid within 60 days of their due date.
This card is one of the best debit cards with rewards for college students. The ThankYou Preferred Card for College Students offers a generous rewards program, with points earned on every purchase and redeemable at a rate of 1 cent per point.
In addition to cash, gift cards, and travel, you can earn rewards on purchases made at restaurants, grocery stores, and gas stations.
Discover Cashback Checking Account Debit Card
The Discover Cashback Checking account is one of the best credit cards for rewards, with no annual fee, no foreign transaction fees, and a cashback program that pays out up to 1.5% on purchases.
The card comes with a free online budgeting tool that tracks your spending in real time and sets goals to help you stay on track. There’s also no minimum deposit required and no monthly service fee if you have direct deposits totaling $500 or more each month (and even then, it’s waived if you keep an average daily balance of at least $15,000).
And finally, this card comes with all the perks of any standard checking account: ATM reimbursements at any bank nationwide (up to $10 each time), 24/7 customer support via phone or email, and access via mobile app for payments or transfers.
If you’re looking for a credit card that gives you rewards, the M&T Bank PerksPLUS Gold Visa CheckCard is one of the best debit cards with rewards.
Unlike other cards on this list, there is no annual fee, making it suitable for people who don’t want to pay extra for a reward.
The M&T Bank PerksPLUS Gold Visa CheckCard has no foreign transaction fees and gives you 1% cash back on every purchase you make with your card. You can redeem your rewards in the following ways:
- Cashback (1 cent per point)
- Travel purchases (1 cent per point)
- Merchandise purchases (1 cent per point)
- Gift cards (1 cent per point)
TD Bank Convenience Checking Account Debit Card
The TD Bank Convenience Checking Account Debit Card offers 1% cash back on all purchases. In addition, you can earn an additional 1% cash back when you make up to 30 debit card purchases in one of the rotating categories (which change every quarter). These include gas stations, grocery stores, and more.
You also get 1% cash back on mobile payments and online shopping (up to $3,000 per quarter), plus 0.5% cash back on all other eligible purchases. This card has no annual fee, and it doesn’t have foreign transaction fees either.
The U.S. Bank Flexperks Travel Rewards Visa Signature Card earns points for flights, hotels, and other travel purchases just like the Barclaycard Arrival Plus World Elite MasterCard.
But it has an even more flexible redemption system. You can redeem your rewards points for cash back or gift cards in increments as small as $25 to help you save some money on everyday expenses.
Also unique to this card is its ability to transfer your points automatically into airline frequent flier programs if your airline is a partner of U.S. Bank’s frequent flier program, which includes American Airlines Advantage and Southwest Rapid Rewards Points Program, among others (for a complete list of partners click here).
If you’re not interested in flying with those airlines or don’t have enough miles saved up for an award flight, choose another option that suits you best: Cash Back, Merchandise, and Gift Cards.
Best prepaid debit cards
The best-prepaid debit cards of 2015 were unveiled today. The top three winners were:
- Best Overall, Best for No Monthly Fee: Bluebird by American Express.
- Best for Cash Reloads: American Express Serves FREE Reloads.
- Best for Walmart Shoppers: Walmart MoneyCard.
- Best for Rewards: American Express Serve Cash Back.
- Best for Tweens/Teens: FamZoo Prepaid Debit Card.
They do Some banks, like USAA and Navy Federal Credit Union, offer free money on debit cards. USAA gives $10 to all new members who sign up for the free checking account, and Navy FCU provides $25. Both have no monthly fee on the bill and no minimum balance.
Frequently Asked Questions
Which debit card gives the highest reward points?
- Axos. Axos Bank is primarily an online bank.
- Bank of America. Banking giant Bank of America has a checking account called the Bank of America Advantage Plus account.
Which debit card is best for CashBack?
The CashBack checking account from Capital One 360 offers a $100 sign-up bonus, no monthly fee, and a 1.00% APY on balances up to $20,000. These features make it a great place to keep your emergency fund. But there’s a debit card linked to your checking account.
- Discover Checking Account Debit Card.
- Axos Cash Back Checking Debit Card.
- Ando Visa Debit Card.
- American Express Serve Cash Back.
- Stash, Stock-Back Card.
- Bank of America Visa Debit.
- M1 Plus Checking Debit Card.
- Trust Delta SkyMiles World Debit Card.
Which is the best debit card, Visa or MasterCard?
For most people, it doesn’t matter whether they get a VISA or a MasterCard. Both are equally secure and offer similar benefits.
While VISA has a slightly higher market share and a more significant amount of transactions worldwide, both VISA and MasterCard are equally well-accepted by merchants.
Does Capital One debit card have rewards?
With one of the largest networks of ATMs and branches in the United States, Capital One 360 is an excellent option for your checking account.
It doesn’t have many rewards, though if you’re looking for more perks, try an online checking account with a rewards program instead.
Why does Costco only take Visa?
If you’ve ever stood in line at Costco and heard the words, “Sorry, we don’t take American Express,” you might have felt like you’d been lost in a strange parallel universe.
“How could this be?” you might wonder. “I use my American Express card everywhere else, and I get cash back on it! So why wouldn’t I want to use it here?”
The answer is that the way Costco prices its products are very different from most other retailers.
The store offers no rewards program to keep things simple for Costco members.
Instead, they price their goods at competitive prices, as many as 90% less than you’d find elsewhere. The only catch is that you’ll have to pay with cash or a debit card.
How good is Capital One bank?
Capital One is a bank that offers various services, including credit cards, loans, checking and savings accounts, and money market accounts. It’s possible to open an account with a minimum deposit of $1,000.
Some of their best features are their mobile app’s convenience, many rewards programs, local branches in every state, and the option to quickly deposit checks through their mobile app or mail them to the local chapter.
Capital One is considered one of the best banks by many people who have used it—for example, in 2016, they were named one of the top 10 banks by Consumer Reports.
They’re also known for having an excellent customer service department, which earned them a spot on Consumer Affairs’ list of top 10 banks for customer service in 2017.
That year they also made Bankrate’s list of best banks for services like student banking and small business banking.
Capital One has won several industry awards for its innovative products and services, including being named one of the most innovative companies by Forbes magazine in 2015 and 2016.
Cash back rewards: A debit card that offers cash back rewards lets you get money back for spending your money. You can sometimes redeem these rewards for gift cards, merchandise, or charitable donations. Some cards also offer reward points when using specific merchants or paying bills.
Points: Like many credit cards, some debit cards earn points you can redeem for gift cards, travel, or merchandise.
Miles: Miles is similar to points but usually have a more excellent value because they’re typically used toward travel expenses rather than everyday expenses like groceries and gas.
Also, unlike other rewards programs, many miles-based programs allow you to transfer your balance from one airline program to another without incurring any fees (though the transfer itself may cost money).
Automatic payments: Some debit cards allow you to set up automatic bill payment options, so you don’t have to worry about missing monthly expenses—a feature not typically available on checking accounts alone.
We’re all about making your life easier, so we’ve taken the time to research and review the best rewards debit cards. We hope our guide helps you choose the best card for your needs.