Debit cards accounted for 65% of all card transactions in the first half of 2010, according to the Nilson Report. So banks are using free debit rewards programs to entice customers to use their cards.
Debit rewards are almost always less generous than credit-card rewards, but the Citibank and PNC programs are better than others. Once you enroll in PNC Points, you earn two points for every $1 you spend on gas, groceries and drugstore items, and one point on everything else. Plus, you earn points each time you use PNC's online bill-payment service and make an automatic debit. You can earn up to 500 points a month for each service, and you can combine those points with the rewards points you earn with the bank's credit cards.
With the Citibank ThankYou Rewards program, you earn extra points when you use your debit card at some 400 participating merchants. Plus, you earn points if you link your checking account to a long list of products -- including a mortgage, home-equity line of credit, student loan or certificate of deposit -- and you can combine credit- and debit-card rewards points.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
If your bank charges for a debit rewards card, you're better off politely declining. SunTrust's Delta SkyMiles Classic Check card has a $20 annual fee and awards one mile for every $2 spent, so your rewards won't pile up quickly. In all cases, you must sign for your purchases to get debit-card rewards.
Rewards vary from bank to bank. With most programs, you can redeem your points either for merchandise or gift cards.
-
AI vs the Stock Market: How Did Alphabet, Nike and Industrial Stocks Perform in June?AI is a new tool to help investors analyze data, but can it beat the stock market? Here's how a chatbot's stock picks fared in June.
-
Stock Market Today: A Historic Quarter Closes on High Notes"All's well that ends well" is one way to describe the second quarter of 2025, at least from a pure price-action perspective.
-
Roth IRA Contribution Limits for 2025Roth IRAs Roth IRA contribution limits have gone up. Here's what you need to know.
-
Four Tips for Renting Out Your Home on Airbnbreal estate Here's what you should know before listing your home on Airbnb.
-
Five Ways to a Cheap Last-Minute VacationTravel It is possible to pull off a cheap last-minute vacation. Here are some tips to make it happen.
-
How Much Life Insurance Do You Need?insurance When assessing how much life insurance you need, take a systematic approach instead of relying on rules of thumb.
-
When Is Amazon Prime Day? Everything We Know So Far, Plus Early DealsAmazon Prime Here are the key Amazon Prime Day dates and details you need to know, plus some of our favorite early deals to shop ahead of the sale.
-
How to Shop for Life Insurance in 3 Easy Stepsinsurance Shopping for life insurance? You may be able to estimate how much you need online, but that's just the start of your search.
-
Five Ways to Shop for a Low Mortgage RateBecoming a Homeowner Mortgage rates are high this year, but you can still find an affordable loan with these tips.
-
Retirees, It's Not Too Late to Buy Life Insurancelife insurance Improvements in underwriting have made it easier to qualify for life insurance, which can be a useful estate-planning tool.
