4. Empower Debit Card
Monthly Maintenance Fee
$8
Minimum Deposit Requirement
$0
Rewards
Up to 10% cash back
Empower is a financial tech company that offers a competitive checking account and debit card. The debit card can earn you up to 10% cash back on purchases and also provides a 0.01% Annual Percentage Yield (APY). All the money you deposit with Empower is protected by FDIC insurance through NBKC Bank.
Empower collaborates with different stores to give you changing cash-back rewards. For instance, you might get 5% cash back on coffee from Starbucks or 10% cash back on DoorDash deliveries. To earn rewards, you need to add a perk to your Empower debit card. While you can only have one perk active at a time, you can switch it whenever you want.
Cash back from your purchases will show up in your account within three business days. You can use these rewards to cover the $8 monthly fee that cannot be waived.
Apart from a cash-back earning debit card, Empower provides tools like a spending tracker, automatic savings features, cash advances, and more.
Pros
- Get cash advances with no interest or fees.
- Enjoy flexible eligibility criteria with no credit check.
- Your payments are reported to credit bureaus, potentially helping you build a credit history.
Cons
- Cash advances are limited to $250.
- There is a monthly subscription fee of $8.
- To instantly get cash advance funds for free, you need the Empower Card.
Continue reading on the next page to find out about other debit cards.
