Best debit cards that offer credit card-like rewards and perks (2024)

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.)

Compare offers to find the best checking account

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 earn1% cash backon up to $3,000 in debit card purchases each month. This means you can receive up to $30 in rewards monthly.

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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 reimbursem*nts 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.

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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.

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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.

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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.

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The Axos Bank CashBack Checking account offers up to 1% cash back on signature-based transactions and unlimited domestic ATM fee reimbursem*nts.

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 reimbursem*nts 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 reimbursem*nts for domestic ATM fees.

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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.

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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.

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To determine which rewards debit cards were the best,CNBC Selectanalyzed 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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