Chase Debit Cards
"Chasing" Rewards
Credit card companies have long offered rewards programs for some of their cards, but now debit cards are getting in on the act. Now you can earn rewards like a flat-screen TV, a DVD player, airfare, or a $50 gift card to a favorite restaurant or store just for buying the things you need every day like gas and groceries.
Just like with credit cards, debit cards with a reward program have annual fees, and the better the rewards program, the higher the fees. For example, Chase debit cards offer rewards programs where you can earn airfare. With one of their cards, you earn one "OnePass" mile for every $2 you spend. This card has an annual fee of $30. They have another one that lets you earn one OnePass mile for every $1 you spend, so you earn your miles faster, but it comes with a $65 annual fee. You can also find Citibank debit cards similar rewards programs. You should take these fees into consideration when you choose your debit card. If the trips you take normally cost $150-$200 round trip, then you might want to consider how much you're spending in fees to get that "free" roundtrip ticket. Don't like to fly? You can sign up for a debit card that gives you rewards for other things.
Besides the fees, there's one other thing that makes these rewards programs less-than-perfect, and that's the fact that you can't earn miles on ATM withdrawals or getting cash back when you make purchases. But at least that's a fair, understandable rule.
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