anytime you go to the store get gas or buy anything if you're not getting cash back rewards
for your everyday budgeted purchases then you're missing out and while i know some people don't
like the idea of using a credit card for rewards because of course you know that has the risk
of going into debt there are actually some debit cards that now offer you cash back rewards simply
for your everyday purchases now the first cash back debit card that we're going to review today
is one of my favorites i've actually been using it for well over a year now and it's called the point
debit card so what i do outside of my bank account is i load my point debit card balance every single
month and what i do with that balance is i use it for everyday expenses such as going out to eat
maybe getting some coffee on the way into work or something like that now you can see right
here every time i go out to eat it rewards me with points think about one point equaling one penny so
100 points equals a dollar now i currently have 31 247 points to redeem which i'll do
so a little bit later in the video now how it works with point card is you get five percent
cash back or five times points on streaming services like netflix pandora spotify etc three
percent cashback on delivery and rideshare like doordash or uber and one percent on
everything else but what makes point even better is that they offer limited cash back deals let
me show you within the app if you hop over to the little round circle on the far right of your app
every single month they update with brand new offers you can see right now we have like verizon
you can get 10 times points 10 cashback on verizon purchases chipotle five percent cash back here you
have walmart and costco at five percent cash back and then if you scroll all the way to the top if
you didn't see that earlier hulu look at that 100 times points that's 100 cashback that is obviously
a very special deal expiring march 20th but if you want to get hulu or you want to get started
this is a great way to get started with maybe a trial see if you like it and then get that cash
back within your point app so each time you use your card whether it's for the one percent the
five percent or all the way up to some of these bigger deals you'll get those points immediately
in your app that you can convert into cash within your point card let me show you an example by
converting some of my points right now in fact just recently they did offer an accelerator
bonus on coffee shops of five percent cash back and you can see right here where i got 20 points
cash back on starbucks got me and the wife a drink cost us 20 bucks got 20 points but i also got an
additional bonus right here of 128 points because that was currently one of the monthly deals
now if i want to redeem my points for cash all i have to do is click the yellow button at the top
of the app right up here and let's convert it right now all 312 dollars i've been obviously
saving up my balance over a long period of time so that way i can show you live here on camera so
all i have to do is type in the amount of 312 and 47 and then hit redeem for cash back
confirm it and it's on its way i now have 425 dollars and 36 cents to spend it was about 112
dollars before and then my cash back that just came in to my point card now the only downside
with the point card is it does come with a ten dollar monthly fee so you'll have to make sure
you do a cost benefit analysis to make sure that your rewards are paying that off plus
giving you some profit every single month in your cashback but to make that hurt a little bit less
let me offer you a deal right now as of the recording of this video point is offering a 100
cash back bonus when you sign up for their app and spend at least 50 dollars click the link down in
the description below on this video to claim the deal you can also check what the latest offer is
by checking it out right in the description of this video next up let's talk about debit card
number two the oxygen card now what's nice about oxygen it doesn't come with any type of annual
fee or monthly fee and they offer a two percent cashback on all purchases and one dollar cashback
on any food and coffee purchases just like the point card you can go into oxygen's app and view
all the various cashback rewards options and see how much you've earned you can see the general 2
cashback on most things and a few walmart whole foods trader joe's and things like that i did
notice that it takes a little bit of time for the oxygen card to process your cash back rewards so
right now you can see i've earned zero dollars but i do have some cash back on the way once they
process my rewards takes a little bit longer than the point card does but it is the same process as
far as when you cash out your rewards now if you want even greater rewards with oxygen you
can actually do that by upgrading to the different elements so you start off with what we call earth
and then at that point as you become eligible you can upgrade to water air or fire which comes with
annual fees so keep that in mind but it does offer higher cash back rewards for example the top tier
card fire comes with a whopping 200 annual fee but it offers a six percent cash back on all purchases
a three percent annual yield savings account tsa pre-check credit and so much more so if you like
the idea of the oxygen card over the point debit card you can also check that one out link down
in the description below the third debit card which is actually new just came on scene this
year and it's from a credit card company and it's none other than american express introduced just
this past year american express has introduced a checking account that pays an interest at 0.50
currently and has the ability to earn membership rewards on all debit card purchases within your
american express checking account right now the rewards are one point for every two dollars spent
and you can redeem your rewards points directly through your checking account so it's really up
to you which one works best and the best part is they all come with the same protection of a credit
card without having to worry about going into credit card debt because you have to have the cash
in the app of any of these three major debit cards if you already have the budget and you're already
spending money anyway and you know you have to spend that money especially on groceries and gas
why not get some cash back rewards as a result of your everyday purchases and if you're interested
in saying you know what i'd rather get six percent cash back on a credit card without going into
debt check out the american express blue cash preferred credit card in this video right here