Accounting Firm in Miami Show You How To Get Cash Back With Debit Cards
Accounting Firm Miami – Debit card, bank card, ATM card, however you call this plastic payment, almost everyone has one. It allows people to pay for purchases right from their checking account without cash, using the funds they have. In other words, less risky than a credit card. It’s an easy way to track your expenses without incurring charges for payment later. Many debit cards are issued by Visa or Mastercard which also provide credit cards.
This year alone, the Miami accounting firm learned that debit cards accounted for 67% of card payments (source: fundera.com). In total, 70% of consumers prefer spending with a card over cash, with 54% (from that 70%) preferring debit cards. In 2016, according to the Nilson Report, a company that analyzes car and mobile payments, said 68 billion transactions were on debit cards. That number is higher than for credit cards, which can be surprising to some since credit cards typically offer a variety of incentives and rewards plus cash back.
The good news is that some debit cards also offer cash back, and the Miami accounting firm is here to shed some light on those bank cards. Note: some are associated with a checking account.
Bank of America BankAmeriDeals
This program is for Bank of America account holders. It allows existing customers to see available deals on popular restaurants, clothing store, gas stations offering up to 15% cash back when using this debit card. You don’t have to clip coupons or enter any promo codes, the cash back is earned automatically. For example, you can get a deal with Bonefish Grill, Air bnb, Starbucks, Lacoste, AD, 1-800-Flowers and more. This bank card lets users earn extra cash back just for activating and redeeming offers, not just from the individual merchants.
Discover Cash Back Debit (Card)
This debit card lets you earn 1% cash back up to $3,000 in purchases per month. So if you spend $1,250 per month, you earn $12.50 which is $150 a year. Why not, if you’re already making these debit card purchases and regular payments?
Consumers Credit Union Rewards Checking
The Miami accounting firm learned CCU offers rewards through annual percentage yield with three various tiers. You can earn 3.09%APY, 4.09% APY or 5.09% APY on account balances of up to $10,000. To earn 3.09% APY for example, you must make at least 12 debit card purchases totaling $100 or more each month as well as direct deposits or ACH credit totaling $500 or more/month.
SunTrust Bank Delta SkyMiles World Debit Card
This bank card comes with travel rewards, offering 5,000 bonus miles after your first signature-based or pin-based purchase. You also get up to 1 mile per dollar on those purchases. With Delta purchase, you’ll earn extra miles.
Empower Debit Card
This debit card comes through a personal finance app, offering a cash back debit card that allows you to earn 2%. You’ll earn 1% cash back on your first $1,000 purchases monthly. And the Miami accounting firm learned that if you refer a friend or family, you’ll get an extra 1% every month on debit card purchases.
American Express Serve Cash Back
This prepaid debit card is not connected to your checking account, but allows you to earn 1% cash back on your purchases with no restrictions of purchases or merchants. The cash back is also immediately available and it comes with fraud protection. Note that you’ll be charged $3.95 to reload your repaid debit card.
Axos Cash Back Debit Card With Checking Account
You can earn 1% cash back on purchases that have your signature, but only if you maintain a $1,500 balance in your checking account. If it drops below that balance, you’ll only earn back a half percent.