Attractive Rewards Still Available on Some Debit Cards

What's Hot

23 Upgrades Under $50 to Make Your House Look AwesomeAround The House

Trump Worth $10 Billion Less Than If He’d Simply Invested in Index FundsBusiness

Do This or Your iPhone Bill May SkyrocketSave

11 Places in the World Where You Can Afford to Retire in StyleMore

19 Moves That Will Help You Retire Early and in StyleFamily

What You Need to Know for 2017 Obamacare EnrollmentFamily

8 Things Rich People Buy That Make Them Look DumbAround The House

50 Ways to Make a Fast $50 (or Lots More)Grow

32 of the Highest-Paid American SpeakersMake

The 35 Two-Year Colleges That Produce the Highest EarnersCollege

5 DIY Ways to Make Your Car Smell GreatCars

Amazon Prime No Longer Pledges Free 2-Day Shipping on All ItemsMore

More Caffeine Means Less Dementia for WomenFamily

7 Household Hacks That Save You CashAround The House

5 Reasons a Roth IRA Should Be Part of Your Retirement PlanGrow

30 Awesome Things to Do in RetirementCollege

Beware These 10 Retail Sales Tricks That Get You to Spend MoreMore

While banks have been slicing rewards on debit cards, there are still some good ones out there - here are two examples.

This post comes from partner site

Some issuers are threatening to cut their debit card reward programs due to the looming decrease in the interchange fee. This comes at a time when debit card usage has experienced notable increases. As a result, many consumers are searching for debit cards that offer significant rewards.

Two of the best deals may be debit-like cards offered by Target and Shell. Both offer consumers substantial purchase discounts on their products.

Target Debit Card

The Target Debit Card gives cardholders a 5 percent discount on in-store purchases such as groceries, clothing, toys, and electronics. The discount does not apply to prescriptions, Target Mobile purchases, gift cards, or prepaid cards.

The debit card works like a check. Swipe the card, enter your PIN, and it debits the purchase amount from your existing bank checking account. The Target Debit Card also allows you to withdraw up to $40 cash over the amount of your purchase. The card can only be used at Target stores, and it can’t be used for online purchases.

“If you regularly shop at Target for groceries and necessities, the Target Debit Card could save you a lot of money over the course of a year,” says Bill Hardekopf, CEO of and author of The Credit Card Guidebook.  “Five percent is much more generous than the typical reward cards that offers one percent back on purchases.”

The Target Debit Card offers another nice bonus. Cardholders can also enroll in Target’s Take Charge of Education program and Target will donate one percent of the Target Debit card purchase to the eligible K-12 school of your choice.

It is important to read the fine print before applying because there are a few catches:

  • Even though this is a debit card, it will still affect your credit score. Target may request a report from consumer reporting agencies. It may report information to credit bureaus about your debit card application, transactions, and  payment history to credit agencies.
  • The debit card does not offer the same protection or warranty coverage provided by credit cards.
  • Target will share your personal information for their own marketing purposes and will also share it with affiliates. You can opt out of sharing with non-affiliates, but you have to call or mail in a form to opt out. The opt-out form is delivered with the card.

Shell Saver Card

The Shell Saver Card offers a discount of 10 cents per gallon on every Shell gas purchase through April 30, 2011. After that date, the discount will be two cents per gallon on Shell-branded fuel purchases.

There are no enrollment fees, annual fees, or finance charges on the card. All that is needed is a checking account. This is not an actual debit card but acts very much like an electronic check. The card has a PIN and withdraws money directly from the cardholder’s checking account.

The card can be used at Shell stations to pay for any purchase, but the discount only applies to fuel.

The discount is automatically deducted from your checking account and reflected on your checking account statement. The receipt you receive at the gas station will not display the discounted purchase amount. You may be charged an NSF fee if there is not enough money in your checking account to cover the purchase amount. Your own bank may also charge an NSF fee.

Stacy Johnson

It's not the usual blah, blah, blah

I know... every site you visit wants you to subscribe to their newsletter. But our news and advice is actually worth reading! For 25 years, I've been making people richer without making their eyes glaze over. You'll be glad you did. I guarantee it!


Read Next: Sam’s Club Reveals Details of Black Friday, 5 Other Holiday Sales

Check Out Our Hottest Deals!

We're always adding new deals and coupons that'll save you big bucks. See the deals to the right and hundreds more in our Deals section.

Click here to explore 1,730 more deals!