Top Debit Cards with Rewards in the USA: convenience and rewards frequently come together. Debit cards are now essential for daily transactions, providing not just the convenience of cashless payments but also a variety of rewards and benefits.
Whether it’s cashback or travel points, debit card rewards programs have advanced to meet a wide range of consumer preferences. In the USA, numerous debit cards shine for their attractive rewards and perks. Let’s delve into the realm of debit card rewards and discover the top choices available.
Credit Card vs. Debit Card Rewards: What’s the Difference?
Both credit cards and debit cards can offer rewards programs. However, there’s a key difference:
- Credit Cards: You borrow money from the bank to make purchases and pay it back later. Rewards are typically higher with credit cards, but you risk going into debt if you don’t manage your spending carefully.
- Debit Cards: You spend the money you already have in your checking account. Debit cards with rewards offer a great way to earn without the risk of debt.
Choosing the Right Rewards Debit Card:
Finding the best debit card with rewards depends on your spending habits and what kind of rewards you value most. Here are some factors to consider:
- Cash Back: This is the simplest reward. You earn a percentage of your spending back in cash, deposited into your checking account.
- Points: Points can be redeemed for various rewards, like travel, gift cards, or merchandise.
- Stock-Back: These cards reward you with fractional shares of stock in companies you choose.
- Rewards Earning: Look for cards with high cash back percentages, generous points structures, or no caps on rewards earned.
- Monthly Fees: Some cards have monthly maintenance fees that can eat into your rewards. Consider cards with no monthly fees or ways to waive them.
- Minimum Balance Requirements: Certain cards require a minimum balance in your checking account to qualify for rewards.
- Purchase Categories: Some cards offer bonus rewards in specific spending categories, like gas or groceries.
Now that you’re armed with this knowledge, let’s explore some of the top debit cards with rewards in the USA:
1. Discover Cash Back Debit Card:
- Rewards: Earn 1% cash back on all debit card purchases.
- Benefits: No monthly fees, no minimum balance requirements, early access to direct deposit, mobile check deposit.
- Drawbacks: Rewards are capped at $30 per month.
- Ideal for: Everyday spenders who want a simple, no-frills cash back option.
- More Info: Discover Cash Back Debit [invalid URL removed]
2. Axos Bank CashBack Checking Debit Card:
- Rewards: Earn 1% cash back on signature-based debit card purchases, up to $2,000 per month.
- Benefits: Unlimited domestic ATM fee reimbursement, mobile check deposit, online bill pay.
- Drawbacks: Requires a $1,500 minimum daily balance to earn the full 1% cash back (drops to 0.5% below $1,500).
- Ideal for: High spenders who can maintain a minimum balance and want a high monthly rewards cap.
- More Info: Axos Bank CashBack Checking [invalid URL removed]
3. Extra Rewards + Credit Building Debit Card:
- Rewards: Earn points that can be redeemed for cash back, gift cards, or travel.
- Benefits: Helps build credit history with responsible use, no annual fees.
- Drawbacks: Monthly fees apply unless you meet certain requirements (like making 15+ purchases per month). Rewards rate is lower than some other options.
- Ideal for: Those looking to build credit while earning some rewards, and don’t mind meeting minimum activity requirements.
- More Info: Extra Rewards + Credit Building [invalid URL removed]
4. Bank of America Advantage Plus Banking Debit Card:
- Rewards: Earn points for using your debit card and meeting certain requirements (like maintaining a minimum balance and having direct deposit). Points can be redeemed for cash back, travel, or merchandise.
- Benefits: Unlimited ATM fee refunds within the Bank of America network, mobile banking features.
- Drawbacks: Monthly fees apply unless you
5. Serve American Express Cash Back Prepaid Debit Card:
- Rewards: Earn up to 1% cash back on qualifying purchases.
- Benefits: Widely accepted by merchants, mobile banking features.
- Drawbacks: Monthly fees apply. Reloading the card can incur fees. Not ideal for everyday spending due to fees.
- Ideal for: Those who prefer a reloadable prepaid card option and are comfortable with the fee structure.
- More Info: Serve American Express Cash Back Prepaid https://www.serve.com/cash-back
6. Upgrade Rewards Checking Debit Card:
- Rewards: Earn up to 1.5% cash back on all debit card purchases.
- Benefits: No monthly fees if you meet specific requirements (like making direct deposits), mobile banking features, two free ATM visits per month reimbursed.
- Drawbacks: Requires meeting activity requirements to waive monthly fees. Rewards rate is lower if you don’t meet requirements.
- Ideal for: Those who can meet the requirements to waive monthly fees and want a higher cash back option.
- More Info: Upgrade Rewards Checking https://www.upgrade.com/upgrade-card/cash-rewards/
7. Truist Delta SkyMiles Debit Card:
- Rewards: Earn miles for using your debit card, which can be redeemed for Delta flights and other travel rewards.
- Benefits: No monthly fees, access to Delta SkyMiles ® benefits like priority boarding (with qualifying status).
- Drawbacks: Rewards are geared towards frequent travelers and may not be as valuable for those who don’t travel often.
- Ideal for: Frequent Delta flyers or those who prioritize travel rewards.
- More Info: Truist Delta SkyMiles Debit Card https://www.truist.com/small-business/banking/delta-debit-card
8. Aspiration Spend and Save Debit Card:
- Rewards: Round up your debit card purchases to the nearest dollar and invest the difference in a sustainable ETF (chosen by Aspiration).
- Benefits: No monthly fees, promotes environmentally and socially responsible investing.
- Drawbacks: Rewards are in the form of stock investments, which can fluctuate in value. Not ideal for those who prefer immediate cash back.
- Ideal for: Socially and environmentally conscious consumers who want to invest with their everyday spending.
- More Info: Aspiration Spend and Save https://my.aspiration.com/faq/Spend—Save%3EAspiration-Spend-Account%3EHow-do-I-earn-cash-back-rewards-on-purchases-
9. Stash Stock-Back® Card:
- Rewards: Earn fractional shares of stock in companies you choose with your debit card purchases.
- Benefits: No monthly fees, allows you to choose your investment options.
- Drawbacks: Rewards are in the form of stock investments, which can fluctuate in value. Not ideal for those who prefer immediate cash back. Requires opening a Stash investment account.
- Ideal for: Investors who want to build a stock portfolio with everyday spending.
- More Info: Stash Stock-Back® Card https://www.stash.com/stock-back-debit-card
Additional Tips:
- Consider your spending habits. Do you spend more on gas, groceries, or dining out? Look for cards with bonus rewards in those categories.
- Think about how you want your rewards. Do you prefer cash back you can spend right away, or travel rewards for future adventures?
- Be mindful of fees. Monthly maintenance fees or ATM fees can eat into your rewards.
Conclusion
aA debit card doesn’t mean missing out on rewards. Many banks in the USA offer debit cards that allow you to earn points or cash back on your everyday purchases.
Whether you prefer travel rewards, cash back, or other perks, there’s a debit card out there for you. So why not make your spending even more rewarding with one of these top debit cards with rewards?
FAQs
What are debit cards with rewards?
Ans: Debit cards with rewards are cards that offer incentives or benefits for using them to make purchases. These rewards can include cash back, points, miles, or other perks.
How do debit cards with rewards work?
Ans: Debit cards with rewards work similarly to credit cards with rewards. When you make a purchase using your debit card, you earn rewards based on the amount you spend. These rewards can then be redeemed for various benefits such as cash back, travel rewards, gift cards, or merchandise.
Are there any fees associated with debit cards with rewards?
Ans: While some debit cards with rewards may have annual fees or other charges, many do not. It’s essential to read the terms and conditions of the card to understand any potential fees associated with it.
Do debit cards with rewards affect my credit score?
Ans: No, debit cards with rewards do not affect your credit score because they do not involve borrowing money or extending credit. Since you’re using your own funds to make purchases, there is no impact on your credit score.
What kind of rewards can I earn with a debit card?
Ans: The rewards you can earn with a debit card vary depending on the card issuer and the specific program. Common rewards include cash back on purchases, points that can be redeemed for merchandise or travel, miles for airline tickets, or discounts on certain purchases.