In a world where every swipe counts, your debit card could be doing more than just draining your account. Imagine turning your everyday purchases into a steady stream of rewards or
cash back.
Welcome to the new era of debit cards — where your morning coffee run could help you build a stronger financial future or pave the way for your next vacation.
But what is cash back on a debit card, exactly? And how does cash back work on debit cards? It’s pretty simple. Cash back is a perk that gives you a percentage of each purchase back as a reward. You use your debit card like you normally would, and your points pile up without any extra effort on your side.
Here’s a guide to the best debit card options that offer the most bang for your buck. Get all the details you need to choose the perfect card for your lifestyle and financial goals.
8 best debit cards for cash back and rewards
Ready to turn your everyday spending into
extra cash? The best cash back debit cards are changing the game, offering perks typically reserved for credit cards. From cash back on purchases to early access to your paycheck, these cards are designed to make your money work harder for you.
Let's explore the top contenders for supercharging your checking account:
1. Discover Cashback Debit
Rewards. 1% cash back on up to $3,000 in card purchases each month
Monthly maintenance fee. $0
Minimum deposit. $0
APY. 0.00%
Best for. No-fuss reward seekers who like to keep things simple. The
Discover Cashback Debit card is perfect for shoppers who primarily spend domestically and love the idea of earning cash back on their daily coffee runs and grocery hauls.
Pros
Fee-free banking. There are no monthly maintenance charges to worry about.
Extensive ATM network. Access a free ATM network with over 60,000 Allpoint and MoneyPass locations.
Early deposit. With early direct deposit, you can get your hands on your paycheck up to two days before payday.
Cons
Limited international use. You might struggle to use this card overseas except at specified retailers in Canada, Mexico, and the Caribbean.
Some transactions don't count. Peer-to-peer payments and some other transaction types won't earn you cash back.
2. Axos Bank CashBack Checking
Rewards. Up to 1% cash back on signature-based debit card purchases, with a monthly cap of $2,000
Monthly maintenance fee. $0
Minimum deposit. $50
APY. 0.00%
Best for. ATM aficionados.
Axos Bank offers one of the best debit cards for frequent ATM users who can maintain a healthy balance and never want to pay an ATM fee again.
Pros
Cons
3. Upgrade Rewards Checking Plus
Rewards. Up to 2% cash back on common everyday purchases like gas, groceries, and utilities (capped at $500/year), and 1% on other eligible debit card purchases
Monthly maintenance fee. $0
Minimum deposit. $0
APY. 0.00%
Best for. Big spenders on everyday essentials who don't mind a direct deposit commitment. If you're the type to rack up charges on gas, groceries, and Netflix,
Upgrade Rewards Checking Plus could be your express lane to cash back bliss.
Pros
No overdraft fees. Avoid unexpected charges on your account.
Early paycheck access. Get direct deposits under $5,000 up to two days early.
Cons
4. American Express Rewards Checking
Rewards. One Membership Rewards point for every $2 of eligible debit card purchases, redeemable for deposits into your account
Monthly maintenance fee. $0
Minimum deposit. $0
APY. 1.00%
Best for. Amex enthusiasts looking to double-dip on debit card rewards. If you're already in the American Express ecosystem and want to extend your point-earning potential to your everyday debit purchases,
this checking account could be the missing piece in your rewards puzzle.
Pros
Cons
Exclusive club. You’ll need to have an Amex
credit card for at least 35 days to qualify.
Rewards. Up to 1% rewards points on all purchases
Monthly maintenance fee. $25 monthly or $199 annually
Minimum deposit. $0
APY. 0.00%
Best for. Go-getters who want to build credit
without the risks of a credit card. If you're looking for an
alternative way to build credit because you’re not ready for a credit card's temptations, the
Extra Debit Card could be your financial training wheels. The fees might sting, but the cash back won't hurt if you use it often.
Pros
Cons
6. PayPal Debit Card
Rewards. 5% cash back on up to $1,000 monthly in a selected category like gas, groceries, or clothing monthly
Monthly maintenance fee. $0
Minimum deposit. $0
APY. 0.00%
Best for. PayPal devotees with an aversion to fees who are ready to take their balance offline. If your PayPal account is your financial hub and you're itching to tap into those funds in the physical world,
this card might be calling your name.
Pros
Cons
7. LendingClub Rewards Checking account
Rewards. 1% cash back on qualified signature-based purchases
Monthly maintenance fee. $0
Minimum deposit. $25 to open, $2,500 average balance or direct deposit for rewards
APY. 0.15% APY with an account balance of at least $100,000
Best for. Balance jugglers with a knack for maximizing benefits. If you're the type who always keeps a cushy checking account balance and loves squeezing every last drop of value from your banking relationship,
LendingClub's offering might be your perfect match.
Pros
Cons
8. Varo debit card
Rewards. Up to 6% cash back at select retailers, capped at $50 per month
Monthly maintenance fee. $0
Minimum deposit. $0
APY. Up to 5.00%
Pros
Stellar cash back rate. Enjoy high rates at partner merchants, putting more money back in your pocket.
Overdraft cushion. There’s no need to stress about overdraft fees with this account.
Cons
How to get cash back from a debit card
Here's how to start earning cash back with your checking account:
1. Find the right debit card. Do your homework on different banks and their terms and conditions for reward rates and fees. Look for a debit card tied to a checking account that aligns with your spending habits and financial goals.
2. Open a checking account. Once you've found your perfect match, set up your new checking account. Apply online or in person, and be prepared with a deposit (if needed) and any information your chosen bank might need to get you started.
3. Activate your card. After your account is set up, you'll receive the debit card in the mail. Then, follow the bank's activation process, which usually takes just a quick phone call or online confirmation.
4. Start swiping. Use your new debit card for everyday purchases to rack up those rewards.
4 tips for choosing the best debit card for cash back rewards
Choosing the right — or wrong — cash back debit card can have a real impact on your bank balance in the long run. Here's how to pick the perfect card for your wallet:
1. Cast a wide net. Don't limit yourself to traditional banks. Online banks often offer competitive cash-back rates on their checking accounts, so include them in your search.
2. Compare rewards. The best debit cards offer higher cash-back percentages in categories where you spend the most. Some cards might give extra rewards on groceries, while others focus on travel or entertainment. Choosing one that suits your lifestyle gives you more bang for your buck.
3. Read the fine print. Look for checking accounts with minimal fees to make sure your cash back rewards don’t just go to the bank’s charges.
4. Look beyond the cash. Consider extra perks that could add value to your experience. Features like free ATM reimbursements and early deposits can make a big difference in your day-to-day banking.
Get your money when you need it with EarnIn
While debit card reward programs help you earn cash back on your purchases, having your pay there when you need it can be even more important. With EarnIn’s Cash Out tool, you can instantly tap into your earnings — up to $150/day and up to $750/pay period.
