Looking for the Best Debit Card Rewards Programs?
Debit card reward programs are not nearly as prolific as they were prior to the 2007 financial crisis. Thankfully for consumers, new laws have limited how much banks are allowed to charge for debit card transactions, limiting the perks they're willing to provide. But, that doesn't mean all debit card reward programs are dead. We've found quite a few with rewards to help you earn while you spend!
Points-based rewards allow you to accumulate “points” when you use your debit card. You may earn one point for every dollar you spend (not always the formula). Points are not the same as cash—however, you can redeem points for things that you’d otherwise spend money on, which is where you have the opportunity to save.
Relationship rewards give you certain perks when you spend with specific companies. Like discounts when you shop at selected stores and websites. So you can save money, but are limited on where will earn you rewards. If you have a rewards card for wherever you spend the most – say, Target – then this type of reward program can save you a lot of money.
Local banks and credit unions often have rewards programs, so you might already have access to rewards in your account. Ask a banker how to get discounts when you shop with your debit card.
Standard reward is 1% if you keep $2,000 per month in an online checking account. Minimum balance requirement is $1,500, but you can still earn .5% if your balance falls below that. Some transactions (online transfers or grocery store purchases) don’t earn cash back.
Save 5% at Target & Target.com each & every day. Plus free 2-day shipping. AND extended returns, 30 extra days at Target or Target.com.
Discover Bank's Cashback Checking account
Pays 1% on most debit card purchases. Earn up to $360 per year. No monthly fees or minimum balance requirements.
Option for cash back rewards. For a $5.95 monthly fee, earn 1% on purchases. The prepaid debit card is part of your standard checking account, but you load funds onto the card and spend from there.
Earn up to 1.25% APY (if you receive monthly direct deposits of $1,000 or more, use your card for at least 10 $3 or more transactions per month, 5 more transactions for a total of 15 $3 minimum transactions). You can still earn if one or more of these conditions are met, your return will just be less.
Only available for PayPal business accounts. 1% cash back on signature-based purchases (don’t use your PIN at checkout to activate). PayPal offers several cards to businesses and consumers, but their personal debit card doesn't earn rewards.
5% cash back on all purchases. Earn up to $100 per year.
Earn points for banking activities to redeem for gift cards, merchandise, or travel. Earn a point for every $6 spent on signature debit net purchases and PIN/POS net purchases. Earn 200 bonus points per month for the first three months after enrollment (up to 600 points), must make three signature-based purchases with your card each month.
1 mile for every $1 spent on PIN Point of Sale or signature based purchases (up to 4,000 per card monthly). Double miles on all direct Delta purchases such as tickets and in-flight purchases. Earn 5,000 bonus miles after your first PIN Point of Sale or signature-based purchase. $75 Annual Fee.
1 mile for every $3 POS debit transaction. Earn up to 120,000 airline miles per year. No minimum balance requirement and no monthly maintenance fees.
Receive 1 point for every $3 spent on signature-based transactions. Points may be redeemed for gift cards, merchandise, dining, and travel.
1 point for every net $1 you spend on eligible purchases outside Kroger. 2 points for every net $1 you spend on eligible Kroger purchases. 3 points for every net $1 spent on eligible purchases of Kroger family of brands. For every 1,000 points, receive $5.00 in free groceries.
Earn 1 point for every $4 spent on every day purchases when you select Credit or Visa Debit at checkout.
Round up the change to the nearest dollar with your debit card purchases when you're enrolled in Keep the Change. Choose the cash back deals you want in Online and Mobile Banking, pay with your debit card, and the cash back gets automatically credited to your account.
Which debit rewards program best suits your lifestyle?