What is a Rewards Checking Account? Benefits and Features

There are so many different ways we can purchase things with from credit to debit cards. They help ease our transactions and possibly even have benefits to them. One essential to getting secure finances is a Rewards Checking Account. These accounts come with rewards like cash back, bonuses, and other benefits that may be useful to you! They are incredible ways to manage money, so here’s 4 reasons why you should get one!

Editor’s Note: If you want to open a Discover account, look at our master post on all of the Discover Promotions from savings to checking accounts!

You Can Get Cash Back!

Some accounts allow you to get money back from your purchases. For example, a Discover Checking can give you 1% cash back on up to $3000 of purchases! You can use this extra saved money for anything you want. Use it for something fun and special like a date or even it use it for your loans and bills. A debit card linked to a checking account is perfect for everyday expenses like taxis, groceries, or things that you will be buying with or without a card!

Less Overspending

Credit cards are kind of hard to get. You have to have a good line of credit history and be able to qualify for their card. Plus there is the problem with overspending. You can purchase more than you actually have and be subject to interest on your debt. The ability to pay later is a double edged sword because you can have the financial freedom to buy more things, but it also has to be all paid back. Checking Accounts pull money straight out, therefore you won’t be able to spend more than you actually have.

Budgeting

Checking accounts give you the tools to properly manage your budget. Manage your spending from tracking, adjusting, and finding places where you can save. If you have a limited amount of money to spend for the month, you can budget your spending accordingly to have your needs met first and wants met second.

Online Banking

There are numerous banks that offer online and mobile access to their bank account’s information. This gives you the ability to check your balance, transfer funds, or even budgeting programs.

Author’s Verdict

If you need help managing your funds, you should consider opening a rewards checking account to reap the many benefits that come with one. This type of account gives you just enough financial freedom to be responsible and convenient with your budget and money. It will also help you properly manage your funds through online banking. Join a bank with great benefits and you may be able to get cash back on your purchases too! A rewards checking account is a great way to start managing your finances the right way. Debit cards do help with everyday expenses, but credit cards are needed to purchase more expensive investments. If you’re interested in opening a credit card, look at our full list of the Best Credit Cards. Here at bank deal guy, we want to offer you the best options for your finances. Look at our list of the Best Bank Deals and Rewards Checking Accounts and you will be on your way to strong finances!

Open a Discover® Online Savings Account for all these features: • Earn $200/$150 Bonus with promo code CK924 by 3/13/2025 • Earn high interest rate of 3.75% APY • No minimum opening deposit, no minimum balance requirement, and now no fees • Interest on Discover Online Savings Accounts is compounded daily and credited monthly • Manage your account online or with the Discover mobile app • FDIC insurance up to $250,000 • See advertiser website for full details To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code CK924 at application, deposit into your Account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Qualifying deposit(s) may consist of multiple deposits and must post to Account within 45 days of account open date. Maximum bonus eligibility is $200. Apply Now at Discover What to know: Offer not valid for existing or prior Discover savings customers, including co-branded, or affinity accounts. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of the account qualifying for the bonus. Bonus is subject to tax reporting. Offer ends 03/13/2025, 11:59 PM ET. Offer may be modified or withdrawn without notice. Due to new customer funding limits, you may wish to initiate fund transfers at your other institution. For information on funding your Account, see FAQs on Discover.com/Bank.