Ditch the credit card debt but keep the rewards! Cash back debit cards are the perfect way to earn cash back on everyday purchases without the interest worries.
A 2023 Javelin Strategy report notes that cashback debit cards help customers save on day-to-day expenses and often expands debit card usage to new categories.
5 Best Cashback Checking Accounts
Get money for everyday spending with the best cash back debit cards.
1. Upgrade Rewards Checking Plus
Upgrade Rewards Checking Plus helps maximize everyday value by paying 2% cash back on common spending categories—like groceries and gas—for those who set up direct deposit, along with 1% on other eligible purchases. It’s a modern choice for people wanting simple, high-yield rewards with digital convenience and zero maintenance fees.
Cash back rate: Earn 2% cash back on common everyday expenses like gas, groceries, utilities, and subscriptions if you receive at least $1,000/month in direct deposits; otherwise, earn 1% cash back on all eligible purchases.
Limits: 2% cash back is capped at $500 in rewards per year; after you reach this cap, rewards drop to 1% for the rest of the year.
Account features: No monthly maintenance fees, minimum balance, or overdraft fees. Requires direct deposit for access to higher rewards and other account benefits.
Additional perks: Early payday (up to two days early with direct deposit), discounts on future loans or credit accounts if you bank with Upgrade.
2. Quontic Cash Rewards Checking Account
The Quontic Bank Cash Rewards Checking account delivers an easy, fee-free way to earn 1% cash back on everyday debit purchases, with rewards credited monthly up to $50 per statement. Its broad ATM network and digital-first banking make it a smart choice for consistent, hassle-free cashback on real-world spending.
Cash Back Rate: Earn 1% cash back on all eligible point-of-sale debit card purchases, up to $50 per statement cycle (which translates to up to $600 annually if you maximize the monthly cap).
Card Details: Rewards automatically deposit into the checking account at the start of each statement cycle. There’s no minimum daily balance requirement and no monthly maintenance fees.
Opening Requirements: Minimum opening deposit is $100.
Additional Features: Access to 90,000+ fee-free ATMs nationwide, FDIC insurance, and an easy online application process.
Account Fees: No monthly maintenance, overdraft, or foreign transaction fees. Most service charges are easy to avoid.
Best suited for: Users who can consistently meet the direct deposit requirement for top-tier rewards.
3. PayPal Cashback Debit
The PayPal Cashback Debit card stands out with its option to earn 5% cash back in a category of your choice each month, giving digital-savvy users major value for routine purchases. It combines robust rewards with instant access to your PayPal balance and fee-free MoneyPass ATM withdrawals for a smooth, app-centric banking experience.
Cash back rate: Earn 5% cash back in a single category of your choice (such as groceries, gas, restaurants, or apparel) each month, up to $1,000 in spending per month (maximum $50 back/month).
How it works: You must choose your bonus category monthly in the PayPal app, and your earnings are deposited to your PayPal Balance.
Card details: No credit check is required. The card works anywhere Mastercard is accepted and provides access to free withdrawals at MoneyPass ATMs.
Fees and protections: No monthly fees or minimum balance. Comes with purchase protection, Mastercard Zero Liability, and card-locking capabilities for security.
Considerations: Must actively manage category selection, and PayPal Balance is required for spending.
4. Axos Cashback Checking
Axos Bank’s Cashback Checking account offers a seamless blend of flexibility and rewards: score up to 1% cash back on eligible signature-based debit transactions with no monthly fees and unlimited ATM reimbursement, supporting those who want effortless cash returns and full access to their money nationwide.
Cash back rate: Get up to 1% cash back on eligible signature-based debit purchases if you maintain a $1,500 average daily balance; falls to 0.50% if below that threshold.
Account features: No monthly fees or penalties for inactivity. Unlimited domestic ATM fee reimbursements—use any ATM nationwide, and Axos covers the charges.
Other benefits: Online bill pay, credit score monitoring, real-time alerts, and strong security features. No restrictions on the total amount of cash back you can earn each year.
Considerations: Not all merchants qualify for cash back (some exclusions apply); maintaining the balance is key to highest rewards.
Best for: Consumers who spend widely with debit and want fee-free banking plus flexible ATM access.
5. Albert Cashback Debit Card
The Albert cashback debit card offers one of the most flexible and high-earning rewards programs among neobanks, with standout categories for regular spending and easy digital banking features.
Cash Back Rates: Earn up to 20% cash back at select merchants such as Publix, Whole Foods, and other grocery stores; up to 10% back at gas stations like Chevron and Shell; up to 10–15% back on food delivery (DoorDash, Grubhub, Uber Eats), fast food (McDonald’s, Burger King), rideshare (Uber, Lyft), entertainment (Playstation, Nintendo), and major retailers (Costco, Target, Walmart).
Rewards Structure: Cashback is applied automatically for eligible transactions at partnered merchants, with maximum cash back limits possibly applying (caps and partner rotation may be in effect).
Eligibility Requirements: Maintain an active Albert Cash account and use the mobile app for tracking and managing rewards. Setting up direct deposit unlocks additional or higher rewards.
Banking Details: Albert itself isn’t a bank; partnering banks provide FDIC-insured accounts. Funds can be instantly transferred between Albert Cash, Savings, and Investing accounts. The card supports Apple Pay and Google Pay for easy digital spending.
ATM Access: Withdraw cash fee-free at over 55,000 in-network ATMs nationwide.
Other Perks: Get paid up to 2 days early with direct deposit, instant transfers and check mailing via app, card lock security, and FDIC insurance up to $250,000 through partner banks.
Benefits of Cashback Debit Cards
Customers using cashback debit cards regularly for everyday purchases can expect to earn anywhere from $120 to $600 in annual savings, depending on spending patterns and program caps. Even at modest spending levels, cashback debit rewards add meaningful value, encouraging payment card loyalty and providing a direct financial benefit over traditional non-reward accounts.
