There was a time when customers with high credit ratings were privy to exclusive benefits offered only by credit cards. Now these same perks and promotions are offered through debit card transactions. There are three different types of cards from which to choose. Pre-paid debit cards allow a customer to directly deposit their payroll check or other monies onto a debit card without a regular checking account.
For instance, American Express offers a $50 credit for customers that apply for their prepaid debit card and has direct deposit of a paycheck. Once formerly the most exclusive credit card provider in the world. American Express now offers the Serve® Prepaid Debit Card to customers without a credit check or checking account.
A Special-Themed debit card is a card that comes from a particular brand or store such as Disney®, in which certain loyalty programs are offered as incentives to buy from their store. Once exclusive only to customers who applied for credit cards. Disney now offers year-around perks to customers who choose one of their logo designs as their special-themed debit card when they open a checking account with JP Morgan Chase® Bank. Disney’s year-around perks includes 10% off at Disney Stores® and DisneyStore.com®.
They also offer year-around specials at their amusement parks in Florida and California such as private Character Meet-and-Greets and 10% off of merchandise.
Banking debit cards
And then there are the regular Banking debit cards that come with a personal checking account. After opening the checking account, customers are usually required to enroll in a program for a fee that allows them to earn rewards for their debit card purchases.
Although a bank can offer all three types of debit cards. It is usually the checking account debit cards that offer the highest amounts for their debit card users. For instance, Bank of America offers a 3% cashback award when a customer makes a purchase at grocery stores, a 2% cash back award for purchases made at gas stations, and a 1% cashback award for all other purchases.
Even the online banks, without brick-and-mortar locations, are offering amazing benefits for customers. Take a look at the Perk Street Financial bank, an online bank exclusively, which offers all the features of a regular checking account and more. For instance, Perk Street Financial offers 1% cashback on all purchases made with the debit card. But 2% cash back for purchases made with online retailers such as Amazon.com®.
They also offer special incentive points as a loyalty program in which specials are emailed to a customer’s inbox. They can choose cashback as a reward or a gift card from a store like Target®, Walmart, Amazon® or Applebee’s®.
Sometimes stores offer prepaid debit cards as sweepstakes promotions for brand recognition with some of the same programs as banks. The great news about all special perks and promotions is that a customer can choose to experience these benefits through a high interest credit card or choose to experience these benefits with the swipe of a debit card.