Are you looking to earn cashback but you are unable to be approved for a credit card? Take a look at Discover’s NEW Checking Account Cashback* System!
UPDATE: This may not be out until 2018 & The cap is $30 in cashback a month.
According to Doctor Of Credit, Discover is changing their checking account cashback system soon:
(Credit’s to Doctor of Credit for the screenshot)
Why should you care?:
- Debit Cards are not normally held to the same fees/spend a credit card may be held to at a store (ex: you must spend $10 to use a credit card). So, now you can earn cashback on purchases that you can not use a credit card for.
- If you can not obtain a credit card for any reason, this is another option for cashback. There are no fees and Discover does allow you access to many ATMs (no fee on their side, but you may have to pay a fee to the owner).
- They offer free checks. This may not seem that useful, but compared to other banks, having free checks as an option over using cash is nice.
You can apply here: https://www.discover.com/online-banking/checking/
*NOTE: This is not in effect yet, Discover will change their current cashback system soon (Nov 2017).
Tags: Checking Account Cashback, 1% Cashback Debit Card, Discover Checking Account