Terms apply to American Express benefits and offers. Visit americanexpress.com to learn more.
Credit cards are great for building credit, earning rewards and taking advantage of various purchase protections. However, if you tend to overspend, miss payments or simply can't get approved for a credit card, debit cards may be a better option. While most debit cards don't offer rewards or build credit, there are a few that do.
To determine the four best rewards debit cards, we looked at which debit cards have the lowest fees, the highest cash-back rewards rates and the lowest minimum balances to earn rewards. (Read more on our methodology below.)
Best rewards debit cards
- Best for rewards: Discover® Cashback Debit Checking
- Best for ATM fee reimbursement: Axos Bank CashBack Checking
- Best debit card to build credit: Extra Card
- Best for transferrable rewards: American Express® Rewards Checking
- Best for 5% cash back: PayPal Debit Card
- Best for high APY: Bank5 Connect Checking Account
- Best for no fees: LendingClub Rewards Checking Account
Compare offers to find the best checking account
Best for rewards
Discover® Cashback Debit Checking
Monthly maintenance fee
$0
Minimum deposit to open
$0
Minimum balance
None
Rewards
1% cash back on up to $3,000 in debit card purchases each month. See website for details by clicking "Learn More".
Free ATM network
60,000+ Allpoint® and MoneyPass® ATMs
ATM fee reimbursement
None
Overdraft fee
$0
Mobile check deposit
Yes
Terms apply.
Who's this for? Discover® Cashback Debit Checking is a great choice if you're looking for a straightforward rewards program for your debit card.
Standout benefits: This is one of the few debit cards that offers rewards and has no annual fee. You can earn 1% cash back on up to $3,000 in debit card purchases each month. This means you can receive up to $30 in rewards monthly.
Best for ATM fee reimbursement
Axos Bank CashBack Checking
Monthly maintenance fee
$0
Minimum deposit to open
$50
Minimum balance
No minimum balance
Rewards
Earn up to 1.00% cash back on all transactions that require a signature.
Free ATM network
None
ATM fee reimbursement
All domestic ATM fees reimbursed
Who's this for? Axos Bank CashBack Checking is ideal if you enjoy no-fee mobile banking with cash-back benefits and are constantly worried about ATM fees as you get unlimited reimbursements for domestic ATM fees.
Standout benefits: This debit card is a no-fee option that offers debit cardholders up to 1% cash back on signature-based transaction purchases. You can earn up to $2,000 per month in cash back on your signature-based transactions.
Best debit card to build credit
Extra Card (Rewards + Credit Building)
Rewards
Up to 1% rewards points on all purchases
Welcome bonus
None
Annual fee
$25 a month or $199 upfront for the year.
Foreign transaction fee
N/A — cannot be used internationally
Credit needed
None
Pros
- Does not require a security deposit like other credit cards for building credit
- No credit check or minimum credit score required
Cons
- Costs $199 annually
- Only reports to two credit bureaus, Equifax and Experian
Who's this for? If you have a low credit score or a thin credit file, the Extra Card is one of the few debit cards on the market that can help improve your credit score.
Standout benefits: With the Extra Card, purchases and payments are reported to two of the three main credit bureaus: Equifax and Experian. The Extra Card can do this because it doesn't operate like a typical debit card.
Best for transferrable rewards
American Express® Rewards Checking Account
Monthly maintenance fee
$0
Minimum deposit to open
$0
Minimum balance
$0
Annual Percentage Yield (APY)
1.00% as of 06/24/2024
Free ATM network
37,000+ MoneyPass® ATMs
ATM fee reimbursement
None
Overdraft fee
N/A
Mobile check deposit
Yes
Terms apply.
Click here to view terms and conditions.
Pros
- 1.00% APY
- Free ATM network
- No monthly fees
- ATM fee reimbursement
- No minimum deposit to open an account
- No overdraft fees
- Can transfer rewards
Cons
- Only available for existing Amex cardholders who've had a card account open for at least three months
Who's this for? American Express® Rewards Checking is geared towards holders of American Express cards, especially ones that earn American Express Membership Rewards like The Platinum Card® from American Express or the American Express® Gold Card.
Standout benefits: This debit card offers Amex Membership Rewards® on all purchases made with its associated debit card, earning 1%. There's also no cap on the rewards you can earn with the debit card, which is rare among debit cards that offer rewards.
Best for 5% cash back
PayPal Debit Card SMALL
Monthly maintenance fee
$0
Minimum deposit to open
$0
Minimum balance
None
Rewards
5% cash back when you shop your select category online or in stores.
Free ATM network
90,000+ MoneyPass® ATMs nationwide
ATM fee reimbursement
None; PayPal does not charge for withdrawing cash from MoneyPass ATMs in the U.S. Withdrawals from non-MoneyPass ATMs have a $2.50 fee.
Overdraft fee
$0
Mobile check deposit
Yes
Terms apply.
Who's this for? If you love the idea of earning 5% cash back on purchases with a debit card, you can't do much better than the PayPal Debit Card.
Standout benefits: This debit card lets you earn 5% cash back on a category of your choice each month, such as groceries, gas, restaurants, clothing or health and beauty. Rewards are capped at $1,000 in spending per month, meaning you can earn up to $50 in cash back if you maximize your spending.
Best for high APY
Bank5 Connect Checking Account
APY
2.70% APY
Monthly maintenance fee
$0
Minimum deposit to open
$10
Minimum balance
$100 is required to earn APY
Rewards
Offers are available once you sign up for an account.
Free ATM network
TK
ATM fee reimbursement
$15 surcharge per statement cycle for fees charged by other banks. Bank5 Connect does not charge for using out-of-network ATMs.
Overdraft fee
$0
Mobile check deposit
Yes
Terms apply.
Who's this for? Anyone who wants to earn both cash back and interest. With the Bank5 Connect Checking Account, you can enjoy cash back when shopping at participating retailers with your debit card and earn 2.70% APY on your account's balance.
Standout benefits: This account pairs relatively high rewards with minimal fees. There's no monthly maintenance fee, a low $10 minimum deposit to open and only a $100 minimum balance is needed to earn the 2.70% APY.
Best for no fees
LendingClub Rewards Checking
Annual Percentage Yield (APY)
0.10% APY for balances between $2,500.00 and $99,999.99; and 0.15% APY for balances of $100,000.00 or more; no APY if don't meet requirements
Minimum deposit to open
$25
Minimum balance
None
Monthly fee
None
Free ATM network
None
ATM fee reimbursement
Unlimited surcharge rebates for ATM fees charged by other banks and ATM owners
Overdraft fee
None
Mobile check deposit
Yes
Terms apply.
Who's this for? If you want to earn interest without the hassle of excessive fees, the LendingClub Rewards Checking Account gives you 1% unlimited cash back on eligible debit card purchases, with no monthly maintenance or overdraft fees.
Standout benefits: This checking account also offers 0.10% APY with account balances between $2,500 and $99,999.99 and 0.15% APY with account balances of $100,000 & up.
Compare offers to find the right savings account
More on our top rewards debit cards
Discover® Cashback Debit Checking
Discover® Cashback Debit Checking offers a simple rewards program of 1% cash back on up to $3,000 in monthly purchases and easy redemption options. Though you're required to make a deposit within 45 days of opening the account, there are no minimum deposit amounts requirements. You can deposit money to your account through direct deposit, online transfer from another bank account or mobile deposit of checks.
Rewards
- 1% cash back on up to $3,000 in debit card purchases each month
Bonus
None
Annual fee
None
Notable perks
You can easily redeem your debit card rewards through your account by manually transferring them into your Discover checking account, Online Savings Account or Money Market Account.
If you want to withdraw money from your checking account without paying ATM fees, you can do so at 60,000+ Allpoint and MoneyPass ATMs. One caveat of this card is that it has limited use abroad: It can only be used at select merchants in Canada, Mexico and the Caribbean. Cardholders are also eligible for a feature called 'early pay,' which allows them to access their paycheck two days earlier than they normally would.
Axos Bank CashBack Checking
The Axos Bank CashBack Checking account offers up to 1% cash back on signature-based transactions and unlimited domestic ATM fee reimbursements.
Rewards
- 1% cash back on signature-based transaction purchases
Bonus
None
Annual fee
None
Notable perks
Axos offers free ATM withdrawals at approximately 91,000 convenient locations across the nation but you also get unlimited reimbursements for domestic ATM fees. Any fees initially charged will be temporary until Axos reimburses you. You can also earn cashback for almost any purchase other than wholesale, discount, grocery, super stores and markets. That means you can earn cash back on purchases such as dining or shopping. Along with earning up to $2,000 per month in cash back on your signature-based transactions, there are no monthly maintenance fees and unlimited reimbursements for domestic ATM fees.
Extra Card
The Extra Card helps improve your credit and offers up to 1% rewards redeemable in its store, but carries a monthly or annual fee.
Rewards
- Up to 1% rewards points on all purchases
Bonus
None
Annual fee
- $25 a month or $199 upfront for the year.
Notable perks
If you have a low credit score or a thin credit file, it can be difficult to get approved for all sorts of financing, from credit cards to personal loans and mortgages. However, the Extra Card can improve your credit. It pays for your purchases at the time of the transaction and withdraws the money from your bank account the next day. That means you don't have to worry about going into debt to improve your credit.
Your spending limit will always be based on the real-time balance of your bank account. You also earn up to 1% back in rewards points on your purchases, though rewards points can only be used in the Extra rewards store which features items like gift cards and AirPods.
American Express® Rewards Checking
American Express® Rewards Checking is a checking account with no fee to open, no monthly fees and no minimum balance requirements. It stands out for offering a solid rewards program with unlimited earning potential.
Rewards
- 1.00% APY
Bonus
None
Annual fee
None
Notable perks
If you have a Membership Rewards-enrolled card, the points you earn with this debit card are pooled and can be redeemed for travel through various transfer partners. Plus, you'll earn a solid 1% APY on your checking account balance. Unlike many rewards debit cards that offer cash back with capped limits, there's no limit on the rewards you can earn with this debit card. The card also features a $0 minimum balance requirement and $0 monthly fees.
PayPal Debit Card
The PayPal Debit Card offers an impressive 5% cash back on monthly categories each month, a rare perk usually reserved for credit cards.
Rewards
- 5% cash back when you shop your select category online or in stores.
Bonus
None
Annual fee
None
Notable perks
You can maximize your rewards by combining the 5% cash back with merchant offers in the same category through the PayPal app at checkout. There are also no monthly maintenance fees, minimum balance or minimum deposit requirements.
Bank5 Connect Checking Account
The Bank5 Connect Checking Account earns you both cash back (the amount varies based on participating retailers) and an above-average interest rate on your balance (if you maintain a minimum of $100 in the account).
Rewards
- Cash back rewards at participating retailers
Bonus
None
Annual fee
None
Notable perks
Cash-back offers become available when you sign up for an account. After activating your preferred offers and making qualifying purchases, your cash back will be directly deposited into your account.
LendingClub Rewards Checking Account
The LendingClub Rewards Checking Account offers unlimited 1% cash back on qualified purchases, along with interest if you maintain an account balance of at least $2,500.
Rewards
- 1% cash back on qualified purchases
Bonus
None
Annual fee
None
Notable perks
To earn cash back, you must either receive $2,500 in recurring direct deposits or maintain an average balance of $2,500 or more in your account. But be sure to choose "credit" instead of "debit" at checkout where it's available to get your cash back, which will be automatically added to your account the next month.
By keeping a balance of $2,500 or more, you'll also earn 0.10% APY. The more money you have, the more interest you'll earn, which is deposited at the end of each month. Plus, there are no overdraft fees, monthly maintenance fees, or fees for incoming wire transfers.
FAQs
What are cashback debit cards?
Cashback debit cards are debit cards that offer credit card-like rewards, such as cash-back, points or miles. They are linked to your bank account and work similarly to cash, where you typically can't spend more money than you have in your account.
Are cashback debit cards worth it?
Some cashback debit cards may charge an annual or monthly fee or have a required minimum balance. The rewards you'll earn can offset these fees, though there are also a number of rewards debit cards that don't have these fees and still earn decent rewards.
Which bank gives reward points on debit cards?
There are a few banks that offer rewards on debit card transactions. Some banks that offer rewards debit cards include Bank of America, Axos Bank and American Express.
How do you earn points on your debit card?
You earn rewards on your debit card by spending money with your debit card. Typically, for every transaction you make, you'll receive a percentage of the purchase in the form of cash-back, points or miles.
Why trust CNBC Select?
At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every debt card review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of banking products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. See our methodology for more information on how we choose the best rewards debit cards.
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Our methodology
To determine which rewards debit cards were the best, CNBC Select analyzed some of the most popular rewards debit cards on the market. We compared each card's rewards rates, whether a minimum balance was required, ATM fees, the size of the ATM network, monthly fees and other perks. If customer reviews were available, we referred to those as well.
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