Best Cash Back Debit Cards of 2024

What if you’re not able to open a rewards credit card? Or perhaps you want to ensure that you’re not running up credit-card debt every time you buy something. That’s where debit cards come in. Debit cards are connected to your bank account and act just like writing a check. Except that they are as convenient to use as a credit card.

Some debit card issuers have gotten smart and are offering cash back rewards for debit card purchases—something these cards haven’t typically offered. Let’s take a look at the best options.

Our recommendations

Best for free cash advances

Empower Debit Card

Best for free cash advances

Empower Debit Card

Monthly fee

$8

Min. deposit

N/A

Rewards

Up to 10% back on select purchases

Why we like it:

The Empower Debit Card is a key feature of the Empower app. Empower is a finance app that monitors your credit and analyzes your spending habits. It can even provide instant cash advances of up to $250 with no interest or credit check.

Empower Debit Card holders can also avoid cash advance fees. Depositing a cash advance into your bank account can cost up to $8—but if you elect to deposit the money onto your Empower Debit Card, there are no fees.

The Empower Debit Card doesn’t earn cash back on all purchases, but you will find select cashback offers of Up to 10% back on select purchases within the Empower app. You will need an Empower Checking account to earn cash back.

Best for no ATM fees

Axos Bank CashBack Checking Debit Card

Best for no ATM fees

Axos Bank CashBack Checking Debit Card

Monthly fee

$0

Min. deposit

$50

Rewards

Up to 1% back on all purchases

Why we like it:

Withdrawing money from an ATM isn’t always cheap. If you’re using an out-of-network ATM (that is, one not affiliated with the bank you use), you’ll pay a hefty fee. The Axos Bank CashBack Checking account comes with a debit card that earns rewards like a credit card but allows you to transact at an ATM to your heart’s content without paying fees.

You’ll receive unlimited fee reimbursements for domestic ATMs. Plus, you’ll earn Up to 1% back on all purchases, up to $2,000 per month in earnings. The only catch is that you must maintain a balance of at least $1,500 in your checking account—otherwise, you’ll earn just 0.5% cash back.

Best for no account fees

Discover Cashback Debit

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Best for no account fees

Discover Cashback Debit

Monthly fee

$0

Min. deposit

N/A

Rewards

1% back (on up to $3,000 in purchases each month)

Why we like it:

The Discover Cashback Debit card earns 1% back (on up to $3,000 in purchases each month). In other words, you can earn up to $360 per year in rewards with this card.

Discover is famous for its low fees. There are no monthly or NSF (non sufficient funds) fees, nor are there fees for official bank checks. You can also access more than 60,000 domestic ATMs fee-free. Discover also has no minimum balance or activity requirements.

Best for earning APY

Mighty Oak Visa™ Debit Card

Best for earning APY

Mighty Oak Visa™ Debit Card

Monthly fee

Up to $9

Min. deposit

$5

Rewards

2.72% APY on Checking and 4.29% APY on Emergency Fund

Why we like it:

While the Acorns Mighty Oak Debit Card doesn’t pay cash back for purchases, it can still put money back in your pocket by rounding up your purchases to the nearest dollar and directing the spare change into savings and investments. You’ll pay up to $9 for a subscription to Acorns’ suite of products that can help you to invest and save—but this can be waived if you have at least $250 in direct deposits per calendar month into your Acorns Checking account. And get this: You’ll earn 3% APY for money stored in your checking account and a whopping 4.85% APY for any money you put in your Emergency Fund.

That can add up quickly if you’ve got a meaningful balance.

Best for small businesses

PayPal Business Debit Mastercard®

Best for small businesses

PayPal Business Debit Mastercard®

Monthly fee

$0

Min. deposit

N/A

Rewards

Unlimited 1% back on all purchases

Why we like it:

The PayPal Business Debit Mastercard® allows you to use your PayPal balance wherever Mastercard is accepted—online or in-store. That’s a big deal, as without the card you’re relegated to stores that accept PayPal.

This card earns Unlimited 1% back on all purchases. An uncapped 1% return is more generous than most other rewards debit cards. In addition, you can receive up to 20% in rebates at tens of thousands of brands. Just note that to open the PayPal Business Debit, you’ll need a PayPal Business or Balance account.

Best debit cards for that pay cash back rewards compared

Our Methodology

In choosing the best cash back debit cards, we pinpointed the cards that’ll provide you with the highest earning rates and lowest fees. We considered a variety of pain points and chose cards that best mitigated those issues.

We also considered the minimum deposit of each issuing bank. Cards that required a prohibitive minimum deposit weren’t included.

How to select the best cash back debit card for you

Return rate

Perhaps the most obvious factor when choosing a cash back debit card is the return rate you’ll receive when you make purchases. Some cards offer a flat rate on all spending; others cap your earning rates or restrict your earnings to relatively obscure spending categories.

Find a card that offers cash back in categories you already use, or the card likely won’t profit you much.

Fees

Some debit cards are linked to bank accounts that incur fees for account maintenance, various money transfers, etc. While you can sometimes get these fees waived, make sure you’re not opening a debit card that will result in fees that offset any cash back you earn.

Card-specific perks

Try to find additional card features that can make your life easier. Can you add authorized users? Are ATM fees waived? Can you receive your paycheck in advance? Does a business debit card have tools to help you manage your business?

Even if earning cash back is your primary motivation, it shouldn’t be your debit card’s only redeeming characteristic.

Bank-specific perks

Remember that when you open a debit card, you’ll need an associated bank account to go with it. You should investigate the pros and cons of the banks issuing the debit cards you’re most interested in. Do they offer high APYs for checking and savings accounts? What about welcome bonuses for new customers?

Alternatives to debit cards to earn cash back rewards

Credit cards

Credit cards are the preferred payment method over debit cards for several reasons, including the following:

• Credit cards are considerably more secure than debit cards. A lost or stolen credit card is far less dire than a lost or stolen debit card.
• Credit cards are the most convenient way to borrow money.
• And if you have a rewards credit card, you often have access to superior benefits compared to those offered by debit cards, including generous rewards, complimentary insurance coverage, and 0% intro APR offers.

The best cash back credit cards are on an entirely different level than even the best cash back debit cards. From 5% cash back (or more) on common expenses to valuable statement credits to welcome bonuses worth hundreds of dollars, credit cards should be the first choice for most people.

That said, you may not be interested in opening another credit card—or perhaps you’ve got a spotted or thin credit history that prevents you from being eligible for the best credit cards. There’s nothing wrong with using a debit card until you’ve cultivated your credit score to a respectable number.

Cash back apps

Using a credit or debit card isn’t the only way to earn cash back. Many cash back apps track your purchases and reward you for them.

One of the top ones is Rakuten, which gives you cash back at thousands of stores. In some cases, you could earn as much as 15% back. Just begin your shopping trip from the Rakuten website, navigate to your favorite stores through its links, and make your purchases as normal. Once you pay for your items, Rakuten will let you know how much cash you’ve earned.

Upside is another popular money-making app.It rewards you for spending at restaurants, grocery stores, and gas stations. After you download the Upside app, you can see the various cash back offers near you. Link your credit or debit card to the account, and Upside will know when you made a cash back-eligible purchase and reward you automatically.

Here’s the best part about using cash back apps: You can stack your rewards earnings by making your purchases with a rewards debit or credit card. Doing so will allow you to “double dip” by earning cash back from both your card and the apps.

High APY accounts

Several banks offer high-interest savings and high-interest checking accounts that will earn you money simply for parking your money with them. It’s not uncommon to see an APY of 4% or more, meaning that a few thousand dollars could easily bring you over $100 annually.

It’s not cash back, but a generous return on your savings nonetheless.

More on debit cards with cash back rewards

What is cash back on a debit card?

Cash back on a debit card is effectively a rebate for your purchases. It’s not income, so there’s no need to report it to the IRS.

How does cash back work on debit cards?

When you funnel your purchases through a cash back debit card, you’ll earn a predetermined percentage of each transaction in the form of cash. The money will generally be deposited back into your account within a month—but you may also have the option to redeem your rewards for things like gift cards or investments.

TIME Stamp: Cash back debit cards are a must for those ineligible for credit cards

If you’re making purchases and not earning rewards, you’re leaving money on the table. If you can’t qualify for a cash back credit card, you should open a cash back debit card to get the most value from everyday expenses. It may not sound like much, but even a 1% return can add up over time.

Frequently asked questions (FAQs)

Are cashback debit cards worth it?

Cashback debit cards are absolutely worth it for anyone who can’t qualify for a cash back credit card. It’s wise to receive at least something when spending your money.

Which bank gives reward points on debit cards?

Several banks give you cash back when using a debit card—but these are not the same as rewards points. One financial institution offering actual “points” is American Express with its Rewards Checking. The debit card associated with this account earns 1 American Express Membership Rewards® point for every $2 spent.

Which stores do cash back on debit cards?

If you’ve got a cash back debit card, any store that accepts payment will allow you to earn cash back unless otherwise specified.