Discover has a Cashback Debit Card

Tl;dr: Earn up to $30/month in cashback with the Discover Cashback Debit. 

Not so long ago, I used my debit card for a lot of my purchases and accumulated a healthy amount of points for my troubles. Then, Congress got into action, and all of a sudden all of my rewards were gone (I hope I redeemed whatever points I had before it was too late) and debit card rewards essentially ceased to exist. These days, it makes little sense to use a debit card if you can use a credit card instead. Credit cards earn valuable points or cash back, have much stronger legal protections against fraudulent purchases, and do not risk any money coming directly out of your bank account. 

But debit cards have some real upsides. Some merchants offer discounts for paying with a debit card rather than a credit card (mobile phone companies, in particular). Debit cards keep you out of debt. And debit cards can be easier to keep track of–just look at your checking account to see how much money you have available and how much you’ve been spending. It’s also handy to keep on hand for ATM withdrawals. 

So Discover’s Cashback Debit card is (mildly) exciting, as it’s keeping the rewards available for debit card users, offering 1% cash back on up to $3,000 in purchases each month. That’s not a ton–if maxed out, that’s $360 per year, nothing compared to top credit cards, or what you can get with a great sign-up bonus. 

Still, it’s significantly more than nothing. Whether a debit card is your primary way to pay with plastic or just a backup you carry around in case you need to hit the ATM or get that debit card discount, the Discover Cashback Debit might be worth looking into if you’re not happy with your rewards-less checking and debit situation.