Best rewards checking accounts 4x3

 Summary List PlacementThe best rewards checking accounts of January 2021

Bank
Standout feature
Opening deposit
APY

Discover Cashback Debit Account

Best for cash back rewards
$0
None

Axos Bank Rewards Checking

Best interest rate for banks
$50
Up to 1.25%

Consumers Credit Union Free Rewards Checking Account

Best interest rate for credit unions
$5
0% – 4.09% APY

Chase Chase Total Checking®

Best for a sign-up bonus
$200
None

When you think of bank accounts that offer the best bang for your buck, your mind might jump to a high-yield savings account, money market account, or CD.

In many cases, checking accounts are just places to hold your cash until you spend it. But a rewards checking account can work just as hard for you as a savings account can.

A good rewards checking account should offer a promotion that’s enticing enough to make you choose that account over any other. The reward should also be relatively easy to obtain, whether it’s cash back, interest, or a sign-up bonus.

You also don’t want to sign up for a checking account that offers a great reward, only to be bogged down by high fees or poor customer support once you’ve opened the account. It’s important that a rewards checking account be a good fit overall.

Below we’ve listed our picks for the best rewards checking account right now. We know “best” means something different for everyone, so we’ve listed each bank account’s strengths, as well as its limitations.

Table of Contents: Masthead StickyOur expert panel for this guide

We consulted banking and financial planning experts to inform these picks and provide their advice on finding the best rewards checking accounts for your needs. You can read their insights at the bottom of this post.

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We’re focusing on what will make a checking account most useful, including rewards, costs, and more.

How our list compares to other publications

Research is an important part of choosing a rewards checking account, and Business Insider isn’t the only website looking for the best rewards. To help you make a decision, we’ve compared our top picks with lists from other publications.

Keep in mind that each publication has different methodologies for identifying the “best” rewards checking accounts. We included a checkmark under each publication name if it also recommended an account we chose in its roundup.

 
Personal Finance Insider
NerdWallet
SmartAsset
ValuePenguin

Discover Cashback Debit



Axos Bank Rewards Checking



Consumers Credit Union Free Rewards Checking


 
 

Chase Total Checking®



 

We looked at the rewards when choosing our top picks — but we also looked at factors like how easy it is to get the reward, fees associated with accounts, and other perks or limitations.

Best for cash back rewards
Discover Cashback Debit Account

Why it stands out: You’ll have free access to over 60,000 ATMs. There are no monthly service or overdraft fees. There is a mobile check deposit feature. You’ll earn 1% cash back on up to $3,000 in debit card purchases every month. Unlike with many cash back checking accounts, you don’t have to maintain a minimum balance to earn cash back.

How to get the reward: You’ll earn cash back on most of your regular debit card transactions. Here …read more

Source:: Business Insider

      

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