There are so many different types of accounts you can open to manage your money, earn interest, and build credit. Among those types of accounts you can have, one option is a rewards checking account. Learn the nuts and bolts of a rewards checking account and how a rewards checking account may be just what you need.
Rewards Checking Accounts
Rewards checking accounts can be hard to find at some banks, especially in combination with a free checking account. There are often specific criteria required to qualify for a rewards checking account. Account holders who qualify for rewards checking perks are usually those who have opted for electronic statements instead of paper statements and meet a minimum of transactions per month.
These actions count as qualifications for rewards checking accounts because account holders can actually save banks money with e-statements and transaction fees between banks. Some banks may require account holders to maintain a minimum balance in order to earn rewards for their checking accounts. Keep in mind that the qualifications for rewards checking accounts may vary per financial institution. Check with your local credit union or bank today about how to qualify for a rewards checking account.
Benefits of Rewards Checking
Rewards checking accounts can also be called high-yield accounts. What are the perks of a high-yield account, and is it possible to have a free high-yield account? Rewards checking accounts offer a high interest rate, so the amount of money you keep in your account accrues interest faster to build up your account balance.
High-yield checking accounts at some banks also offer account holders special rates on certain loans as well as saving you money on transaction fees for select services. Different banks and credit unions will offer various perks for having a high-yield checking account.
Free Checking Accounts
At Great Basin Federal Credit Union, we can also provide free checking accounts. Free checking accounts can be a rare find, but they are most likely available at local institutions over larger national banks.
Open a checking account at Great Basin Federal Credit Union that fits your needs and spending habits. Try the Core Account for a free debit card with fraud protection, an e-Account for online bill pay, or a Traditional Account for a range of services.
Learn more about what checking account works for you at Great Basin Federal Credit Union.Share: