7 Best Debit Cards to Earn Cash Back Rewards

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cash back debit cards

Do you want a debit card to help you earn some cashback? Contrary to common belief, debit card cashback exists, and this facility isn’t only limited to credit cards.

That's great news for someone who doesn’t want to seek approval for a credit card before experiencing its rewards.

However, do all debit cards offer cash back rewards? If not, which ones are worthy of your attention?

Unfortunately, right now, there are only a few debit cards that allow you to earn some cash back. That said, most of the cards that do are one of the best ones available.

Some debit cards provide cashback on every purchase you make, while a few limit this benefit to chosen merchants only.

In this article, let’s explore popular options for the best cashback debit card, so you can get one to enjoy some earnings.

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7 Debit Cards To Help You Gain Some Cash Back

This section covers the best debit cards, with all their features so that you can make a sound decision.

Nearside Debit Mastercard

Based in San Francisco, Nearside is more of a financial provider than a bank. This company proudly owns a mobile-friendly online banking platform that helps you to open a business checking account for free and conveniently.

Nearside is the best cash back checking account for small business owners such as Uber drivers, DoorDash drivers, and freelancers.

In addition, Nearside offers many perks to its customers and simultaneously allows them to manage all their finances online.

One of the best things about Nearside is that it is entirely digital. So you can easily access all the perks and services through the Nearside’s official website or mobile app.

Lucky for you, Nearside’s debit card and checking account are designed to help you save money. In addition, facilities such as partner discounts and cashback rewards allow you to keep a good chunk of money on most purchases.

It takes only a few minutes to apply for the best rewards checking account. Once your account gets approved, you will receive a debit Mastercard in a few days to activate online.

With this debit card, you can avail many perks and rewards, including the 1% cashback reward program.

2.2% Cash Back

One of the best things about the Nearside debit card is that it helps to automate your savings for everyday purchases. Interestingly, the 1% cashback is fixed, and there is an additional 1.2% cashback bonus (Total 2.2%) in 2022.

That said, there are a few purchases that don’t facilitate this reward. These are:

  • Cash advances
  • ATM withdrawals
  • Transfers to yourself
  • Money orders
  • Wire transfers
  • Gift cards
  • Lottery tickets
  • Gaming Chips

Additionally, you can also get a maximum of 6% cashback on eligible purchases when you use this debit card to make payments to vendors such as:

  • Amazon (1%+ extra 1%)
  • Shopify (1%+ extra 5%)
  • Walmart (1%+ extra 1%)

Other perks of getting this debit card include:

  • No overdraft fees
  • No monthly fees

Nearside debit card cashback is one of the best debit cards with rewards you can get today. You can use it to make purchases for your business and allow it to grow with time.

Apply for aFree Cashback Checking

Bank of America Visa Debit Card

A Visa debit card not only allows you to utilize your money whenever or however you want, but it also gives you the freedom to avoid any interest payments and recurring fees. You can also add your Boa debit card to any digital wallet and enjoy secure and fast payments.

What’s more, your Bank of America debit card can help you get some cashback when you pay for deals. If you do not know how cash back works with a debit card, basically, the cashback you earn then automatically gets credited to your Bank of America account.

15% Cash Back

You can easily earn up to 15% cashback on different BankAmeriDeals. You simply have to download Bank Of America’s website or app on your phone and then navigate through different deals from local merchants and stores.

One of the best things about these deals is that you get a cash back within 30 days of availing of a deal.

What’s more, every time you choose a deal, you get a “Coin.” If you successfully earn four coins within 60 days, you gain additional cash worth $5. After that, the amount of the coin accelerates, and so does your reward.

If you are looking for the best debit card with no fees, similar to the card above, a Bank of America Visa Card has

  • No annual fee
  • No monthly fee

Empower Debit Card

“One card with all the right moves,” Empower cash back debit card can help you earn up to 10% cashback on different deals. The platform provides you with excellent deals designed according to your spending history. What’s more, you also receive 1% cashback on your first $1000 spent in purchases every month.

Empower isn’t a bank but a tool powered by artificial intelligence. This platform helps combine budgeting technology and banking functions so that you can use the tool for all your financial needs.

1% Cash Back on First $1000 Spent

With this facility, you can get $10 cashback after spending $1000 in one month. This means you can earn up to $120 within 12 months or one year.

Additionally, by referring customers to this tool, you can also get a boosted percentage of cashback of an additional 1%, resulting in you earning $20 per month.

Other benefits of this card include:

  • No fees on foreign transactions
  • No fee on insufficient funds

Axos Checking Account

Is there anything better than being paid for doing shopping and spending on your favorite things? It sounds unreal, but you can benefit from this facility and increase your savings thanks to different debit cards.

1% Cash Back

One of these popular cards is the Axos Checking Account debit card. This card allows you to earn a maximum of 1% cash back on purchases that require a signature.

However, this rate only applies if you successfully maintain your minimum account balance at $1500. A drop in the balance means that you will get 0.5% cashback.

You can easily earn $2,000 cash bank every month using your Axos debit card. That said, this offer only applies to signature-based purchases or expenses made in specific given categories.

Once you have earned your cashback, you will have to wait till the end of the month, when Avos deposits all your earned money in your account.

In addition to a restricted minimum account limit, this card doesn’t provide any cashback for purchases that you might make in stores without giving out your signature. The inclusion of a signature limits the purpose of this card.

The Axox debit card doesn’t demand any:

  • Maintenance fee every month
  • Fees on non-sufficient funds

Discover Cash Back Debit Card

Do you wish for good savings and more money to spend? In that case, the Discover Cash Back debit card is a suitable option to consider.

Instead of using your credit card to benefit from a cashback facility, the Discover debit card allows you to aim for your financial goals without getting into burdensome debt.

1% Cash Back

Discover Cashback debit card has a simple cashback program to support your daily spending. For maximum monthly purchases of $3,000, you can earn 1% cashback. If you do that every month, you can easily make $360 in a year, which is quite alright.

Additionally, if you want to make the whole saving process easy, you can opt to open a Discover Online Savings account. This account allows the bank to automatically transfer all your cash bank earnings after every month’s end.

That said, earning $3000 every month could be a challenge for some people, which may demotivate them to use this debit card.

Luckily, you don’t require any minimum amount to open an account. However, according to the policies of Discover, you should deposit a certain amount of money in your account within 45 days of its opening date.

Other benefits of this card include:

  • Access to 60,000 ATMs for free
  • No annual fee

American Express Serve Prepaid Debit Card

Not entirely a debit card, an American Express Serve is a prepaid card that works just like one. However, since the card isn’t connected with an account, there is a lack of overdraft protection and unavailability of checks.

Moreover, unfortunately, the card charges $3.95 on any extra cash that you might want to load.

So, how does this card work for a cashback?

1% Cash Back

If you warm monthly income, you can connect your paycheck with this card and then use that money to make purchases. This spending can then help you earn 1% cashback.

This card is the only prepaid debit card that offers 1% cashback for unlimited time.

One of the best things about this card is that it allows you to earn cash in-store and online. To make a cashback, your minimum purchase should be around $0.05. Any spending below this amount doesn’t get you a cashback.

Another good thing about this card is that it doesn’t let you wait for the month-end to avail of your cashback. Instead, you get your cash as soon as you spend your money on relevant purchases.

That said, this debit card has a monthly fee of around $7.95 every month.

This may not suit many people who earn a fixed salary. Moreover, this factor makes this card less competitive as most cards on this list come with no monthly charges.

PayPal Business Debit Mastercard

What’s next on this list? The PayPal Business Debit Mastercard gives you a chance to use your card anywhere and then earn cashback rewards for some much-deserved savings. As soon as you get hold of your card, you can utilize it to increase your business savings every month.

So, how much cash back can you earn?

1% Cash Back

This card allows you to earn 1% cashback on transactions or payments that don’t demand a PIN. Ensure to make eligible payments and benefit from this cashback facility every month.

To get a PayPal debit card, simply apply for it as soon as you make a PayPal account. Once you have the card, you can use it anywhere you want and earn cashback on purchases that demand your signature to complete.

As soon as your cashback amount is around $1, you will receive it in your account. This means that you can receive a cashback deposit at the start of every month.

While this card helps you earn and save some money on every signature-based transaction you make, it does come with some apparent drawbacks.

For instance,

  • You can’t withdraw more than $400 every day through this card.
  • There is a 1% foreign transaction fee.
  • There is a $1.50 charge on every domestic and international ATM withdrawals.

Are Debit Card Cashbacks Worth It?

Yes, they are, but it all depends on how much you are earning and how you plan to utilize it. The cashback facility was initially limited to credit cards only. However, considering the challenges associated with maintaining and getting a credit card, banks are now offering cashback rewards for debit cards.

One of the best things about these programs is that you can utilize the money in many ways, including your tuition fee, emergency medical treatment, or even some urgent shopping spree.

Besides, a cashback on every purchase allows users to use their debit cards more than their cash or credit card.

Enjoy Debit Card Benefits

Whether you are a businessman or a student, a cashback facility on your debit card is an opportunity for you to make some savings on your purchases. In addition, it encourages you to use your card more often and benefit from convenient transactions.

This article reviewed seven different debit cards offering cash back offers for their users. Since each debit card has its cash back percentage, you should choose the one that suits you the most.

For us, the Nearside Debit Mastercard looks quite promising. Currently, it provides 2.2% cashback on purchases in 2022. Moreover, it offers up to 6% cashback on popular vendors such as Amazon and Shopify purchases.

However, the final choice is yours. If you think that a debit card other than Nearside meets your needs, go ahead and apply for it.

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