Discover® Cashback Debit
While we talk mostly about miles and points here at Travel on Point(s), we know there is a place for cash back earning as well. Whether it be from credit card welcome offers, credit card spend, bank account bonuses or savings accounts, we have encouraged you to supplement your miles and points earnings with cash back. That is because there are things that come up during travel that miles and points just can't cover. Or, how about that time when the vendor says cash or debit only? Man, don't you hate missing out on rewards for that purchase?! That is where Discover Cashback Debit steps in to save the day. It is a checking account with a rewards earning debit card attached. That is just the thing you happen to need in your toolbelt sometimes.
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Discover® Cashback Debit Account Overview
I am sure you have seen Stiffler's mom (Jennifer Coolidge) all over your TV talking about the Discover Cashback Debit account. As a miles and points fanatic, you probably zoned out as soon as they said cash back. I am here to tell you that maybe you shouldn't have. Let's take a look at the Discover checking account details:
- Earn 1% cash back on Debit purchases from your account (see website for details)
- On up to $3,000 in spend per month
- There is no hard pull to open a Discover Cashback Debit & checking account
- No. Fees. Period.
- No monthly fee, no minimums and no min purchases or direct deposit hoops to jump through to keep this account free.
- The account is FDIC Insured
- Get paid up to 2 days early with direct deposit
- 60,000 fee free ATMs across the US (ATM finder here)
- Load your account online like any other checking account, or you can do it in person at some stores like Walmart
- LEARN MORE
I have them deposit my monthly 1% cashback into my Discover Savings account to accrue some interest too. If you remember, I have talked about their pretty good offers on that account in the past as well.
Why This Account Is One You Should Consider
We live in a world of travel, miles & points, so why should you consider a Discover Cashback Debit checking account? Because sometimes you just can't earn miles and points, or the fee they charging to use a credit card doesn't make sense. With us being value maximizers we can not let a non rewards swipe stand! That is where the Discover Cashback Debit comes into play. Not to go all hair club for men on you right now, but I am also a user and believer of this account.
Here are some instances where the Discover checking fills a void perfectly:
- Tuition payments where they charge close to 3% in fees for a credit card
- You would have to clear 4% (the credit card fee plus 1% in Discover earning) from the points to make a credit card the better option.
- Taxes & Association Dues etc.
- Debit cards are charged a flat $2.50 fee, versus closer to 2%
- Any subscription etc. that doesn't give a automatic payment discount to credit cards.
- Some places just don't accept credit card, and earning 1% is better than putting your paws on some icky cash!
Those are just a few options where the Discover Cashback Debit will slide into your DMs wallet perfectly. While a credit card with a welcome offer attached will make purchase fees worth it, you don't always have one you are working on. This gives you an opportunity to save money AND earn cash back when those instances happen.
Throw in the fact that there is no hard pull to grab one, and therefore no issues with 5/24, and this is an option pretty much everyone should consider.
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Discover® Cashback Debit: ToP Thoughts
I have to admit, I really love my Discover Cashback Debit. I have had it for a while now and it plays a part in my earning portfolio. Anywhere that a credit card just won't do, I whip out this bad boy and still get that earning high. No more paying huge fees just to earn something back on large purchases, or missing the boat on earning all together. Discover offers that security blanket up to you with this debit option. Plus, it comes a checking account that has no annoying hoops to deal with to keep it free. All for no hard pull and a quick application, so I guess all I have left to say is, Git-R-Done!
