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Verdict: You can earn cash-back bonuses when you use your FlexPerks Cash Rewards Visa Check Card. However, it’s not quite as simple as earning cash back with traditional credit cards. You’ll only receive cash back for purchases that don’t require you to enter your PIN. In other words, you have to use your debit card as a credit card to earn the cash-back bonuses. This inconvenience knocks this card out of the top class of rewards debit cards.
Overview: You’ll earn your cash-back bonus when you shop at more than 1,200 brick-and-mortar and online businesses across the country. U.S. Bank, the issuer of this card, advertises that you can earn as much as 25 percent in cash-back bonuses when you use the FlexPerks Cash Rewards Visa Check Card. This is a bit misleading, though; the majority of retailers participating in the bank’s rewards program offer cash-back bonuses ranging from 2 percent to 10 percent.
How This Card Works: When you present your FlexPerks card at checkout, or when you use it to make online purchases, you’ll have to request that your card be used as a credit card rather than a debit card. The money for your purchase will still be taken directly out of your checking account. But you won’t be asked to enter your PIN to finalize your purchase. You will, though, when shopping at brick-and-mortar retailers be asked to sign for your purchase, much like you would for a credit-card purchase. Only through this process will you earnyour cash-back rewards. You’ll also have to make sure that you are shopping at one of the more than 1,2000 partners participating in the program.
Travel and Shopping Benefits: You’ll earn up to 25 percent — but more often 2 percent to 10 percent — cash back when you use your FlexPerks check card at participating retailers. You can begin redeeming the cash you earn once you hit the $5 mark in rewards. Your cash will be deposited directly into your U.S. Bank checking or savings account. You can also use your card to pay bills online.
Fees: Unlike credit cards, debit cards don’t come with purchase interest rates, annual fees or late-payment fees. That’s because you pay for your purchases as soon as you make them, removing the money from the checking account connected to your card. You will face fees, though, if you use your debit card to withdraw money from an ATM that’s not operated by U.S. Bank, the issuer of this card. These fees vary, but usually run from $1 to $4, depending on the ATM you are using.
- Can earn up to 25 percent in cash-back bonuses with purchases.
- More convenient than carrying cash or writing checks.
- Ability to pay your bills online.
- Earning rewards can be a complicated matter.
- Have to buy with participating retailers to earn points.
- Non-U.S. Bank ATMs will charge fees if you use card to withdraw money from them.