Banking and Finance

The 6 Best Debit Cards That Pay Cash Back Rewards

July 27, 2021

Researching how to get a debit card that will earn you cashback? Yes, they exist; they’re not just reserved for rewards credit cards. Instead of worrying about getting approved for a credit card, simply sign up for a checking account at a bank that’ll hook you up with a cash back debit card.

Whether you’re earning cashback on every purchase or are reaping the benefits of a fee-free account, you’ll be able to save more money each month without having to worry about whether or not you’re hurting your credit score or staying on top of payments.

Ready to get a debit card that’ll finally earn you money? Here are our top picks for six of the best cash back debit cards of 2020.

Best Cash Back Debit Cards

1. Discover Cashback Debit Card

Image: Discover Bank
Image: Discover Bank

Discover is well-known for having some of the best cashback credit cards. But, they also offer a pretty great fee-free debit card that’s ideal for earning cashback, too. Perks like mobile check deposit and 1% cashback per month make it ideal for fee-free banking with a side of savings.

🛠️  Monthly Maintenance Fee: $0

💸  Minimum Opening Balance: $0

😢  Overdraft Fee: $0

💲 Other Fees: $0 in ATM fees at over 60,000 ATMs nationwide; incoming wire transfers are free; outgoing wire transfers are $30.

📈 Interest Rate & APY: While this account earns 1.15% APY (up to $30 per month), you also have to open a Discover Online Savings account in order to have the cashback savings sent there.

💰  Cashback: Get 1% cashback on up to $3,000 of eligible purchases each month.

🤑  Other Perks: You’re eligible to receive free checks when you sign up for this account.

2. Axos Bank CashBack Debit Card

Image: Axos Bank
Image: Axos Bank

Because Axos Bank is an online bank, they’re able to offer great cashback deals for customers who open a CashBack Checking Account. With your debit card, you can access a fee-free banking option is a fantastic benefit for those who simply want to save money and earn cashback on their purchases.

🛠️  Monthly Maintenance Fee: $0

💸  Minimum Opening Balance: $0

😢  Overdraft Fee: N/A

💲 Other Fees: Unlimited domestic ATM fee reimbursements. The minimum Balance Required to Open the Account: is $50.00

📈 Interest Rate & APY: N/A

💰  Cashback: 1% cashback on eligible purchases when you maintain a $1,500 balance.

🤑  Other Perks: Upgrade to the Rewards Checking account and earn 1.0% APY; free mobile deposits and online bill pay.

3. LendingClub Banking

Rewards Checking : Open an account online now | Bank with LendingClub
Image: LendingClub Banking

If you’re able to set up direct deposit, the LendingClub Bank Rewards Checking account is a great deal for you in terms of earning cashback. With no monthly fees on the account, you’re able to earn 1.0% cashback on all qualified purchases, but you’ll need to meet a daily minimum balance of 2,500 or receive at least $2,500 in direct deposits to earn the rewards.

🛠️  Monthly Maintenance Fee: $0

💸  Minimum Opening Balance: $100

😢  Overdraft Fee: N/A

💲 Other Fees: Unlimited ATM fee reimbursements.

📈 Interest Rate & APY: 0.00% APY applies to balances of $0.01–$2,499.99, 0.10% APY applies to the entire balance on balances of $2,500.00–$99,999.99, and 0.15% APY applies to the entire balance of $100,000.00 or more.

💰 Cashback: 1.0 % cashback on all qualified purchases.

🤑  Other Perks: If you set up direct deposit, you’re eligible to receive your money up to two days early; money management tools are built in the app.

4. Empower Debit Card

Image: Empower
Image: Empower Bank

Empower is a financial startup that almost acts as more of a money management app than an online bank. Their Empower Interest Checking account offers you the chance to earn 0.25% APY on your money with few fees. Plus, they send you a pretty snazzy-looking debit card.


🛠️  Monthly Maintenance Fee: Empower experience is free for the first 14 days, then $8 per month to access all of the money management features in the Empower app.

💸  Minimum Opening Balance: $0

😢  Overdraft Fee: $0

💲 Other Fees: Reimbursements of up to 3 ATM withdrawals per month; 1% foreign transaction fee.

📈 Interest Rate & APY: N/A.

💰 Cashback: While this isn’t cashback per se, their high-interest checking account is one of the best ways to earn easy cash without doing anything.

🤑  Other Perks: Unlimited transfers, 24/7 spending alerts, access to the cash advance, plus budgeting and money management features within the Empower app.

5. Bank of America Advantage SafeBalance Banking

Image: Bank of America
Image: Bank of America

If you’re interested in banking with a well-established and very prominent bank, Bank of America is a good option. While their checking accounts and debit cards aren’t directly connected to cashback rewards, you can sign up for Bank of America’s Preferred Rewards to access great cashback deals.

🛠️  Monthly Maintenance Fee: $4.95

💸  Minimum Opening Balance: $25

😢   Overdraft Fee: $0

💲 Other Fees: $2.50 fee for withdrawals at non-BOA ATMs; view the Bank of America wire transfer fees here.

📈 Interest Rate & APY: N/A

💰  Cashback: Enroll in Bank of America’s Preferred Rewards to access cashback deals.

🤑  Other Perks: Students and persons under 25 can have the monthly maintenance fee waived; the ability to enroll in their rewards program can save you a lot depending on where you routinely shop and spend.

6. Cheese Debit Card

The best cashback debit card? Cheese! Not only is it a fee-free option to traditional checking accounts, but it’s a great free online checking account for those interested in saving cash easily and quickly. Whereas the other options on this list offer some form of cashback, Cheese offers it all in one place, including fee-free banking.

🛠️  Monthly Maintenance Fee: $0

💸  Minimum Opening Balance: $0

😢  Overdraft Fee: $0

💲 Other Fees: $0 in fees at 55,000 ATMs in the US.

📈 Saving Bonus: Up to 3% by referring friends

💰  Cashback: Up to 10%

🤑  Other Perks: No fees for incoming international wire transfers, bilingual customer service in-app, more cashback affiliate brands to be unlocked, and more...

At Cheese, we’re dedicated to ensuring that our users pay $0 in monthly fees while enjoying other zero-fee perks such as no overdraft fees, no international wire fees, and no minimum balance fee. We waive all Cheese users one international wire transfer per year. And, while you’re saving on wire transfer fees, you’ll also be able to enjoy up to 10% cashback on every purchase you made, and up to a 3% deposit bonus with your Cheese debit card. Larger international banks such as PNC Bank aren’t usually able to offer the same level of fee-free assistance. Sign up now and check out the other perks:

❌ No Monthly Fee                                      🧀️ No SSN Required    

❌ No ATM Fee                                           🧀️ Up to 10% Cashback with Every Purchase/Transaction

❌ No Overdraft Fee                                   🧀️ $5 Signup Bonus

❌ No Insufficient Fund Fee                       🧀️ Up to 3% Saving Bonus

❌ No Minimum Balance Requirement      🧀️ Early Paycheck up to 2 Days

❌ No Int. Incoming Wire Transfer Fee      🔐 FDIC Insured

Cheese also wants to help people who need some help with their credit scores. Cheese Credit Builder will be able to build/boost your credit score with up to a $500 credit limit and 0% APR. Simply by using the Cheese card, you can improve your credit score easily. Sign up for a Cheese card today, and get early access to the Cheese Credit Builder and a brighter future.

Also, don't forget to download the Cheese app by scanning the QR code here. Your will start your money-saving and credit-building journey now!

Here're more you need to know about the best debit cards, savings accounts and checking accounts:

,The 6 Best Debit Cards That Pay Cash Back Rewards

The 5 Best Prepaid Debit Cards

Hidden Savings Account Costs You May Not Know About

Savings Account vs. CD: What's the Difference & How to Choose?

The Best Online Checking Accounts of All Time

The 6 Best No-Fee Checking Accounts

Cheese 银行卡 美国华人最好的选择
Cheese 银行卡 美国华人最好的选择