topic Re: Is there a rewards credit-card that debits from my existing bank-account? in Credit Cards

Is there a rewards credit-card that debits from my existing bank-account?

Anonymous — Sun, 15 Sep 2019 01:35:32 GMT

Is there a rewards credit-card that debits from my existing bank-account?

Re: Is there a rewards credit-card that debits from my existing bank-account?

kdm31091 — Sun, 15 Sep 2019 01:39:51 GMT

No, because by defintion a credit card just doesn't work that way. The closest thing you can get is setting up automatic payments to your credit card from your checking account.

Re: Is there a rewards credit-card that debits from my existing bank-account?

AllZero — Sun, 15 Sep 2019 02:10:29 GMT

Not a credit card but Chartway FCU offers 3% cash back debit card if terms are met.

Re: Is there a rewards credit-card that debits from my existing bank-account?

FinStar — Sun, 15 Sep 2019 02:28:02 GMT

@kdm31091 wrote:
No, because by defintion a credit card just doesn't work that way. The closest thing you can get is setting up automatic payments to your credit card from your checking account.

Except that such definition is up to the lender in how they innovate and/or structure their CC products.

For instance, the DUO card by 5/3 was such a product when launched back in 2015 and it earned rewards on both levels. Unfortunately, as 5/3 restructured its CC platform, it became no longer available.

OP, given the landscape CC rewards these days it's unlikely that there is anything in the market with such a feature. Of course, I'm sure there's probably a lender somewhere that may offer some unconventional product that MF may not be aware of.

Re: Is there a rewards credit-card that debits from my existing bank-account?

SouthJamaica — Sun, 15 Sep 2019 12:32:05 GMT

@AllZero wrote:
Not a credit card but Chartway FCU offers 3% cash back debit card if terms are met.

Evansville Teachers FCU ~~recently upgraded its cashback debit card to 3.3%.~~ has 3.3% interest on checking if you make a certain number of debit card transactions.

Re: Is there a rewards credit-card that debits from my existing bank-account?

Brian_Earl_Spilner — Sun, 15 Sep 2019 03:30:20 GMT

Discover has a 1% cashbacks debit card. First year cashbacks match.

Re: Is there a rewards credit-card that debits from my existing bank-account?

AllZero — Sun, 15 Sep 2019 04:17:10 GMT

@SouthJamaica wrote:
@AllZero wrote:
Not a credit card but Chartway FCU offers 3% cash back debit card if terms are met.
Evansville Teachers FCU recently upgraded its cashback debit card to 3.3%.

Thanks for the tip. ETFCU is on my wish list to join. I noticed it from your signature. I'm trying to spread out my CU apps.

Re: Is there a rewards credit-card that debits from my existing bank-account?

staticvoidmain — Sun, 15 Sep 2019 07:31:40 GMT

What is your goal? What do you mean by a "credit card that debits from a bank account"?

Are you trying to immediately pay every single transaction as soon as they post? Is this your goal? (Why not wait monthly?)

It does sound like you want a rewards debit card instead (For example, the PayPal business debit card can debit from any bank account, and you get 1% back).

Re: Is there a rewards credit-card that debits from my existing bank-account?

Anonymous — Sun, 15 Sep 2019 10:47:06 GMT

@SouthJamaica wrote:
@AllZero wrote:
Not a credit card but Chartway FCU offers 3% cash back debit card if terms are met.
Evansville Teachers FCU recently upgraded its cashback debit card to 3.3%.

I don't see this on the site. Only 3.3% interest on the checking account. Is there a 3.3% cashback debit, i.e. one where if I buy $100 with it I get $3.30 back? I'm guessing not as everyone would be on compared to say the DC!

ETA: I see that Chartway is like that, but with a cap of $10 a month

Re: Is there a rewards credit-card that debits from my existing bank-account?

SouthJamaica — Sun, 15 Sep 2019 12:29:20 GMT

@Anonymous wrote:
@SouthJamaica wrote:
@AllZero wrote:
Not a credit card but Chartway FCU offers 3% cash back debit card if terms are met.
Evansville Teachers FCU recently upgraded its cashback debit card to 3.3%.

I don't see this on the site. Only 3.3% interest on the checking account. Is there a 3.3% cashback debit, i.e. one where if I buy $100 with it I get $3.30 back? I'm guessing not as everyone would be on compared to say the DC!

ETA: I see that Chartway is like that, but with a cap of $10 a month

Sorry. I guess I goofed. Will correct my earlier post.

Re: Is there a rewards credit-card that debits from my existing bank-account?

Anonymous — Sun, 15 Sep 2019 13:26:22 GMT

I read a few comments asking why would I want this feature. I like to monitor my daily transactions, and not be surprised by the charges when the monthly statement is arrives. Maybe I'm just a control-freak!

Re: Is there a rewards credit-card that debits from my existing bank-account?

kdm31091 — Sun, 15 Sep 2019 13:55:00 GMT

@Anonymous wrote:
I read a few comments asking why would I want this feature. I like to monitor my daily transactions, and not be surprised by the charges when the monthly statement is arrives. Maybe I'm just a control-freak!

If that is more important to you than other factors, then you could consider just using your debit card instead of credit. IMO if you're surprised by your charges at the end of the month there's a chance you're spending more than you want to, which is easier to do with credit cards. Maybe debit would just work better for you and your finances and that's ok too.

Re: Is there a rewards credit-card that debits from my existing bank-account?

Brian_Earl_Spilner — Sun, 15 Sep 2019 14:00:17 GMT

You can always get an Amex with the pay it/plan it feature. You can pay off a charge from the app immediately after. You're allowed to make 5 payments a day. If you need to make a bigger purchase, you can plan it and spread it out over a few months

Re: Is there a rewards credit-card that debits from my existing bank-account?

zerofire — Sun, 15 Sep 2019 17:30:40 GMT

If you are freaking out about your monthly bill that shows that you have an issue with planning. Weather that is by planning how much you wish to spend or planning the cash flow so you have enough to pay. It sounds like you might not be a good candidate for a credit card. As a fellow control freak I can say it is way better to just be able to look at a separate statement online of my charges. Now I do know Green Dot has a Debit card that has 3% back for whatever it is worth. The catch is that they only give you it under certain terms and once a year. In the end you have to question if you trust them which most of use would not.

Re: Is there a rewards credit-card that debits from my existing bank-account?

AllZero — Sun, 15 Sep 2019 19:01:59 GMT

@Anonymous wrote:
I read a few comments asking why would I want this feature. I like to monitor my daily transactions, and not be surprised by the charges when the monthly statement is arrives. Maybe I'm just a control-freak!

In the beginning, I used to pay my charges right away. Once I got more experienced with credit and budgeting, my payment behavior changed. You do what works for you.

Do you have a bank or credit union with credit card products? Having one online portal to view transactions, available funds, making payments could be a compromise in what you seek.

Re: Is there a rewards credit-card that debits from my existing bank-account?

Remedios — Sun, 15 Sep 2019 19:06:16 GMT

Maybe I misread the original post, but I cant see where OP asked for a lecture on their payment habits.

To chastise someone because the like to pay as soon as charges post and suggest credit is not for them, it's plain silly.

If they dont care about floating charges, or this is what they need in order to properly budget, so be it.

Also, if OP had issues with planning as it's being suggested, they would slap a bunch of charges and worry how to pay them later.