1. To qualify Rewards checking account
  2. Use a rewards checking account
  3. The Pros of rewards checking accounts:
  4. The cons of rewards checking account:
  5. Best Rewards Checking Accounts

To qualify Rewards checking account

Although the standards to receive these edges vary by account, typically you’ll need to satisfy many needs, such as:

  • Making ten to fifteen revolving credit transactions every month
  • Having a minimum of one direct deposit or one ACH automatic withdrawal clears your account every month
  • Using self-service choices like electronic statements, online banking, ATM deposits or online bill pay a minimum of once every month

You may be asked to satisfy all of those needs, some combination of the 3 or different ones altogether; keeping a minimum balance is another fashionable one. It depends on the account. Check to check what those needs are, and raise yourself whether or not you may meet them on an everyday basis.

Use a rewards checking account

If you employ a revolving credit to often create purchases, you’ll need to earn money back through a rewards bank account. However, a rewards bank account could solely provide a high-yielding feature and not provide money back. Compare the APY to create certain you’re obtaining a decent deal.

No matter what the special feature is on the rewards bank account, ensure you’re not paying a fee on this account. A fee cuts into any quiet rewards that you’re earning.

The Pros of rewards checking accounts:

Offers perks

Helps you earn money back for the victimization of your revolving credit to create purchases. If you’re employing a revolving credit while not earning money back, you’ll be missing out.

You won’t sometimes pay annual fees

A rewards bank account is unlikely to possess an annual fee, sort of a MasterCard may have.

Earn interest

You may be ready to earn interest on your balance during this account. This rate could also be bed or capped counting on the balance.

The cons of rewards checking account:

Limits on perks earned

A bank or depository financial institution could cap the money-back you’ll be able to earn. it should conjointly limit the balance that you simply will receive a high APY on and so provide a considerably lower APY on your remaining balance within the account.

More perks elsewhere

Some credit cards could provide a better quantity of money back than a rewards bank account.

Barriers to entry

You may keep a better minimum balance in a very rewards bank account than in different accounts, otherwise, you may have an immediate deposit started for this kind of account.

Watch out for fees

Read the fine print to create certain you won’t get to pay a monthly fee or that you will simply avoid that fee. Also, ensure you perceive the way to qualify for the highest rewards.

Best Rewards Checking Accounts


Like its fashionable MasterCard, Discover’s money rewards bank account is equally targeted on a no-fee promise and straightforward thanks to earning rewards. it is a sensible choice for people who typically carry an occasional balance and whose monthly debit disbursal falls below $3,000.

  • Cashback formula: 1 % on all revolving credit purchases up to the monthly limit
  • Limits or restrictions: Rewards are paid solely on the primary $3,000 of debit purchases every month (i.e., most money back is $30 per month).
  • Minimum balance: No minimum
  • Features: an in-depth network of 60,000 ATMs nationwide, free checks, mobile check deposit, online bill pay, and therefore the ability to freeze revolving credit.
  • Monthly Maintenance Fee: None


Axos offers each money back and high-yield checking choices similar to a bank account possibility that provides a rate beyond the national rates. With its generous cap on rewards, it is a nice selection for people who do all or most of their monthly disbursal with revolving credit.

  • Cashback formula: 1% on revolving credit purchases
  • Limits or restrictions: Rewards are paid solely on signature-based debit purchases; however, the rewards limit is ready at a lofty $2,000 most money back per month.
  • Minimum balance: $1,500 minimum daily balance to earn 1% money back every month. If the balance falls below $1,500, the money-back proportion drops to 0.5%.
  • Features: Unlimited ATM fee compensation within the U.S., mobile check deposit, and online bill pay.
  • Monthly Maintenance Fee: None


Although USAA is not receptive to everybody, its reach is wide in this it includes all members and veterans of the military, and their spouses and kids. It’d be best for those with a military affiliation within the family and whose debit purchases generally average $10 or less.

  • Cashback formula: 10% debit dealing (equal to a quarter on a $10 deal, but 0.5% on a $20 transaction)
  • Limits or restrictions: No limit on the number of money earned.
  • Minimum balance: No minimum
  • Features: Zelle instant payments, ATM fee reimbursements up to $15/month, mobile check deposit, and online bill pay.
  • Monthly Maintenance Fee: None