Banking and Finance

The 6 Best Debit Cards That Pay Cash Back Rewards

Elizabeth
December 18, 2020

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 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.

📈 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 1.25% APY; free mobile deposits and online bill pay.

3. Radius Bank Rewards Checking

Image: Radius Bank
Image: Radius Bank

If you’re able to set up direct deposit, the Radius Bank Rewards Checking account is a great deal for you in terms of earning cash back. With no monthly fees on the account, you’re able to earn 1.5% cash back in certain spending categories, 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: 1.5 % cash back on spending in the categories of health, food, groceries/restaurants, entertainment, and social good; 1% cash back in all other spending categories.

🤑  Other Perks: If you set up direct deposit, you’re eligible to receive your money up to two days early; money management tools built into 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 30 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: 0.25% APY.

💰 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 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 cash back rewards, you can sign up for Bank of America’s Preferred Rewards to access great cash back 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 24 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% for now

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


When you refer friends and family you can get up to a 3% savings bonus. And, you can receive up to 10% cashback when you shop with our exclusive partners, including Postmates, Hulu, Peet’s Coffee, Sephora, Groupon, and more. Your account will accrue interest on top of earning you cashback each time you swipe it when spending with one of our partners. Those are savings you simply can’t miss out on. Sign up Now


Here're more you need to know about 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