May 23, 2022

If you favor debit instead of credit, you might feel like you're suffering from rewards envy due to the endless parade of advertisements as well as offers on cashback or credit cards that reward travelers. However, earning rewards for your purchases doesn't have to mean spending on credit. Cashback checking accounts that have debit cards do exist. This guide provides you with the best rewards checking accounts.

What is a Rewards-Checking Account?

The Rewards checking account is a checking account that pays you each time you pay for purchases or transactions using a credit card. Cashback is earned on all purchases that you make using a credit card. To get these rewards, many reward checking accounts cost monthly fees. The cost could easily be more than the benefits that you'll enjoy if you make a large number of purchases using a debit card.

What is a Cash Back Checking Account Function?

A cashback checking account enables you to earn cashback for each purchase made using a credit card. Each time you make a purchase using the debit card specific proportion of your transaction will earn you cash rewards which you can receive at a later date, typically the following month. Contrary to rewards credit cards, There aren't any extra charges with the cashback checking account. Your account will be debited regularly for the cost of the purchase or the payment, which means you won't need to be concerned about interest, late fees, late charges, or any other charges at any time soon.

Top 5 Rewards Checking Credit Accounts

1. Discover Cashback Checking

This Discover Cashback Checking account earned an almost perfect score when analyzing the top reward checking accounts. With Discover it, you can get 1% cash back for up to $3,000 worth of debit card purchases per month. This means that you'll receive a maximum of $30 in cash back each month and earn a sum of $360 per year. You can use these rewards anytime, via your mobile or online account. There are no fees per month to be a member of the account. Discover also provides a cost-free ATM network with more than 60 000 ATMs all over the U.S., as well as a debit card for free for use at those ATMs.

2. Aspiration

Aspiration is an institution in the financial sector that offers an account for managing cash, dubbed The Aspiration Spend and Save account. While it's technically a one-stop product, it is actually an account focused on spending and an account for savings. In the Aspiration standard package, customers can pick the fees they wish when they open their account. The standard Aspiration plan is the 3.00 percent annual percentage yield. The rate applies to balances of up to $10,000, with higher balances not receiving any interest.

3. TD Bank Beyond Checking

Our third most recommended TD Bank Beyond Checking account provides a fantastic opportunity to get your start with a good balance. You can receive a $500 bonus if you meet specific criteria. After you have signed to the account Beyond Checking, if you get up to $2,500 of directly deposited funds within the first 60 days of opening the account, you'll be eligible for a bonus of $300. You can also earn another $200 in bonuses If you sign up for either the TD Beyond Savings account or even a TD Simple Savings account, as well as a deposit at least $20,000 in new funds within the first 20 days and keep at least that amount up to 90 calendar days. Beyond Checking also earns 0.01 percent APR.

4. Chase Total Checking

The Total Checking account isn't the typical rewards account as it provides consistent cash or even points-based cash rewards. In its place, new account owners receive a significant cashback sign-up bonus of $225 when they sign up for a new account and establish a direct deposit afterward. It's more than 50% of what you can earn with an account with Discover Cashback checking account for an entire year, but that's only if you can spend the maximum of $3,000 per month using the debit card you have.

5. One American Bank

The One American Bank reward checking account has a 1.00 percent annual percentage yield. This is a premium rate in the current interest rates - more than what you find on high yield savings accounts. However, this rate comes with restrictions as this rate only applies to the amount of $10,000 in your total account balance. Anything over that limit will be subject to an 0.25 percent APY, which is still superior to the majority of other similar rates even though it is lower.


Customers who want to earn cash back on everyday purchases with debit cards are excellent prospects for checking accounts with rewards. Accounts that offer interest-free loans and reimbursement of ATM fees can provide other opportunities to earn money. In addition, some banks will offer a bonus when you open rewards checking accounts. This is another opportunity to put money back in your pockets.

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