Not all financial institutions are ending their debit card rewards programs, Cohen says. In fact, Ally Bank just launched one -- a cash-back program for check card users who shop with certain merchants.

If you use debit cards regularly and don't want to start making routine purchases with credit cards, you may be better served by moving to a bank or credit union that continues to offer debit rewards, Cohen says.

However, you should weigh the pros and cons of leaving your home bank before making a switch, she says. That means determining if the potential financial institution offers the same level of convenience as your existing one and doesn't charge excessive fees. "You have to consider which banking features are most important to you," Cohen says.