2011 Debit Card Rewards Survey
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5 options to morphing debit card rewards

Debit Cards » 5 Options To Morphing Debit Card Rewards

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Big banks may be slamming the door on their debit card rewards programs, but your check card can still pay you back at many community banks and credit unions.

Jane Lundquist, executive vice president at Rockland Trust in Rockland, Mass., describes Rockland Trust's debit rewards program as a win-win situation for the bank and its customers. Account holders who receive paperless statements can earn up to $300 in cash back each year, and the checking account comes with no minimum balance requirements or monthly fees.

A credit union also may provide the solution for your rewards searching.

David Small, spokesman for the National Credit Union Administration in Washington, D.C., says some credit unions operate debit card rewards programs at a loss because of the demand from their members.

Because credit unions are not-for-profit institutions, consumers may find that these outlets will continue to offer debit rewards because they're not as limited by their bottom line, Small says.

"Credit unions are willing to offer products that their members want (and) that do not serve as a revenue generator," Small says.


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