Debit Cards

Why debit cards? Because some of us still like it and are used to it - the simplicity of it is what started it all. It simply deducts the money from your checking account and prevents any over spending. The best debit card programs are the:

1. Bank of America Hawaii Debit card: This used to earn pretty good rewards which got devalued recently

2. Local Credit Unions: One such was Perkins which also devalued their programs. Still check your local credit unions. I found Fulton Bank and Citadel Credit Unions to be a good one when it comes to accumulating and redeeming points.

3. Suntrust Delta Debit card: Again a decent card once upon a time, it is fraught with statement credit issues, account opening issues and just so many issues that it is really not worth it.

For the brave and more enterprising, the BankAmex debit card offers American Airlines miles. So does BankDirect - an online bank based out of Texas. Most of these seem decent options but beware - the programs are known to get shut down quite arbitarily and the redemption options are really not that up to the mark.

Bottomline, I would check the local credit union and stick with one which earns you between 1 - 3 cents per dollar spent. Niche reward points are more than welcome. For instance, my local credit union has redemption options for local restaurants which are quite generous. Since I frequent those places anyways, it makes sense to accumulate those points.

Apples to apples, debit cards do not stand a chance against credit cards. Decidedly banks have moved more towards the credit card berthern in the recent past for obvious reasons. Since there are tools such as Serve which allows to load $1000 per month via automation, I find it easy to keep the points running in some small credit card. It might not count for much but maybe buy you a free dinner every few some months.