While rewards options and account incentives are appealing, it's crucial for consumers to look at their banking needs from multiple angles.

For consumers who are considering switching banks in pursuit of another debit rewards program, McBride recommends weighing additional factors such as free checking, ATM convenience and the range of products and services that each bank offers.

As fees continue to pile up at some of the nation's biggest banks, finding an account without any additional hurdles or costs may prove to be especially rewarding for your personal finances.

"You certainly have to look beyond the debit card rewards program," McBride says. "You have to determine if your new institution and its account offerings are a fit for your lifestyle."