8 Best Rewards Checking Accounts of 2022

You can get 1% cash back on up to $3,000 in qualifying debit card purchases each month on Discover’s lone checking account.

Discover gives access to over 60,000 free ATMs and doesn’t charge a monthly fee or have balance requirements.

Cashback Debit details from Discover:

“ATM transactions, the purchase of money orders or other cash equivalents, cash over portions of point-of-sale transactions, peer-to-peer (P2P) payments (such as Apple Pay Cash), and loan payments or account funding made with your debit card are not eligible for cash back rewards. In addition, purchases made using third-party payment accounts (services such as Venmo® and PayPal™, which also provide P2P payments) may not be eligible for cash back rewards. Apple, the Apple logo and Apple Pay are trademarks of Apple Inc., registered in the U.S. and other countries."

Consumers Credit Union’s Free Rewards Checking offers easy-to-join nationwide membership, a big ATM network and no monthly fees or minimum balances, but the most impressive feature is the APY: up to 4.09%.

The rate breaks down into three separate tiers — 2.09%, 3.09% and 4.09% — with more monthly requirements for the higher two. To achieve the first tier on balances of up to $10,000, you need to do three things: Complete at least 12 monthly debit card purchases, have online transactions (direct deposits, ACH transfers or mobile check deposits) to the account worth at least $500 each month, and enroll in electronic documents. For the month of May 2020, the minimum number of debit card purchases required has dropped from 12 to 6.

Upgrade offers its Rewards Checking customers 2% cash back on everyday debit purchases — such as those made at restaurants, bars, convenience stores, drugstores, gas stations, utility companies and streaming services — up to $500 in rewards per year. For other debit card purchases, and for everyday purchases made after the $500 reward limit, customers can earn 1% cash back.

LendingClub Rewards Checking has a cash back feature that allows customers to earn unlimited 1% cash back on signature-based debit card transactions in stores and online. In stores, a customer must select “credit” instead of “debit” for the purchase to qualify.

To get the cash back, customers must receive at least $2,500 in direct deposit from their employer or keep an average of $2,500 or more in their Rewards Checking account monthly.

LendingClub Rewards Checking also offers interest. Balances from $2,500 to $99,999.99 earn 0.10%, and balances of $100,000 or more earn 0.15%. The account has no monthly maintenance fee or minimum balance requirement after the $100 deposit required to open the account.