Did you know that your credit score is typically not important when opening a checking account? This detail is especially beneficial if you are looking to improve your credit as you earn rewards through rewards checking accounts.
A rewards checking account may appeal to you for a variety of reasons. In fact, a major benefit to rewards checking accounts is that they pose little risk to your credit score. With reduced fear of damaging your current credit, you can begin fixing your credit with peace of mind. The added ability to earn even when working toward credit repair will make credit monitoring stress-free.
This means that you may be able to repair your credit score, while earning rewards through a rewards checking account. We have rounded up our top three; all with a wide range of benefits from a few different banking options.
Discover Cashback Debit
Earning rewards through online banking by opening a Discover Cashback Debit Account is one of the best options for cash back rewards. With a 0$ minimum deposit rate and no monthly fees, Discover Cashback rewards begin almost immediately.
There is no requirement to maintain a minimum balance in your account, which lets you earn rewards with no stress. With Discover, overspending or damaging savings accounts may be unlikely because you earn cash back with ease.
Options for online and in-person banking make budgeting your finances informative for you. Understanding the details of your spending and rewards may also help you understand your credit history. With knowledge of various aspects of banking, even checking your credit becomes less overwhelming.
Chase Total Checking
With the possibility to waive monthly maintenance fees, opening a Chase Total Checking Account grants you the opportunity to begin earning and maintaining your money with ease. Monthly maintenance fees are a common cause of stress regarding rewards earning, making the chance to avoid that stress very popular. There is also no setup fee to open an account. A Chase Total Checking account is one of the most affordable banking options available at Chase Bank as well.
It is important to keep in mind that in order to avoid the $12 monthly fee, a minimum balance of $1,500 is required. However, it is still possible to maintain your earnings regardless of your balance.
Axos Bank Rewards Checking
Noted most prominently as having some of the best interest rates available, an Axos Bank Rewards Checking Account is a great place to start earning.
Axos Bank offers an easy online banking process, which lets you learn more about a multitude of opportunities to earn interest. Axos Bank accounts also may be optimal for businesses for managing finances online and focusing on efficient earning.
Although there is a setup fee of $50, the opportunities to earn high interest may outweigh the initial fee. There are zero monthly maintenance fees and zero minimum monthly balance requirements, so there is little added risk to your finances.