Spend money. Get money back.
Cash Advantage Checking is a rewards checking account that puts cash back in your pocket every month. Use your debit card for everyday purchases, set up direct deposit, and go paperless — and we'll reward you with 5% cash back on your qualifying purchases, up to $10.00 per statement cycle. No annual fee, no complicated rewards portal, no waiting. Just real cash credited straight to your account.
Why Cash Advantage Checking is worth it
Earn 5% cash back with no annual fee. Here's what makes this account stand out.
Real cash back
Earn 5% cash back on qualifying debit purchases — credited straight to your account, no redemption needed.
No monthly fee
Meet the monthly qualifications and your maintenance fee is waived entirely. Just $5.00 in months you don't qualify.
Simple to qualify
Three easy requirements every month — use your debit card, have a direct deposit, and go paperless.
Automatic rewards
Cash back is calculated and posted at the end of each cycle. No apps to check, no points to manage.
How to qualify each month
Meet all three requirements during your monthly statement cycle and your cash back reward posts automatically.
20 debit card purchases
Make at least 20 debit card purchases that post and settle during the statement cycle. Each purchase must be a minimum of $5.00.
ATM transactions do not count. Online, in-app, and in-store purchases all qualify — think groceries, gas, subscriptions, and dining.
$500 direct deposit
Receive a single direct deposit of at least $500.00 during the statement cycle. This can be your paycheck, pension, or government benefits via ACH.
Must be a single deposit of $500 or more. Multiple smaller deposits totaling $500 do not qualify.
Enroll in e-statements
Sign up for electronic statements and keep your enrollment active. It's good for the environment and keeps you qualified.
You only need to enroll once. Just keep your email address current so statements can be delivered each cycle.
See what you can earn
Here's how your cash back adds up when you meet the monthly qualifications.
Start earning cash back on every qualifying purchase.
Start earning 5% cash back as soon as you meet your first month's qualifications. To make things even better, you auto-qualify for rewards your first month!
Questions? Contact us at 405-685-6200, or visit the USEFCU location nearest you.
How is my cash back calculated?
When you meet all three monthly qualifications, you'll earn 5% cash back on your qualifying debit card purchases that posted and settled during the statement cycle. The maximum you can earn is $10.00 per cycle, which means you'd hit the cap at $200 in qualifying purchases. Your cash back is calculated automatically at the end of the cycle and credited directly to your account.
What if my account has a negative balance at the end of the cycle?
To receive your cash back reward, your account balance must be $0.00 or greater at the end of the statement cycle. If your account is in a negative balance when rewards are calculated, even if you met all three qualifications, you won't receive cash back for that cycle. Keeping your account in good standing ensures you never miss out on a reward you've earned.
Will I be charged a fee if I don't meet the monthly qualifications?
Yes. If the monthly qualification requirements aren't met during a statement cycle, a $5.00 maintenance fee will be assessed. When you do meet all three requirements, the fee is waived entirely, and you earn your cash back on top of it. Think of it this way: meet the qualifications, and you avoid the fee and earn rewards. Miss them and you pay $5.00, but there's no other penalty. The next month is a fresh start.
How do I enroll in e-statements?
You can enroll in e-statements through our free online banking or mobile app. Look for the "E-statements" tile and follow the prompts provided. Once enrolled, you don't need to re-enroll each month. Just make sure your email address stays current so your e-statements can be delivered successfully.
How is Cash Advantage different than Advantage Checking?
Both accounts reward you for meeting the same three monthly qualifications, but they do it differently. Advantage Checking pays a high-yield interest rate of 5.00% APY on your account balance up to $5,000 — so the more you save in your checking account, the more you earn. Cash Advantage Checking pays 5% cash back on your qualifying debit card purchases, up to $10.00 per cycle — so the more you spend with your debit card, the more you earn. If you tend to keep a higher checking balance, Advantage Checking may earn you more. If your balance is typically lower but you use your debit card often, Cash Advantage Checking could be the better fit.
*Account Overview: Cash Advantage Checking is a rewards checking account that pays cash back on qualifying debit card purchases when monthly qualification requirements are met. Cash Back Reward: To be eligible to receive rewards, the account balance must be $0.00 or greater at the end of the statement cycle. Accounts with a negative balance at the time of reward calculation will not qualify for rewards during that period. When qualification requirements are met, the account will earn 5% cash back on qualifying debit card purchases, with a maximum cash back of $10.00 per statement cycle. Qualification Requirements: To earn the cash back reward during each monthly statement cycle, all three of the following requirements must be met: 1) Debit Card Purchases: At least 20 debit card purchases must post and settle during the statement cycle; each purchase must be a minimum of $5.00. ATM transactions do not qualify. 2) Direct Deposit: A minimum direct deposit of $500 must post during the statement cycle. Minimum direct deposit must be a single deposit – multiple deposits totaling $500 do not qualify. Qualifying direct deposits include ACH deposits such as payroll or government benefits. 3) Electronic Statements: Enrollment in e-statements is required and must remain active. Reward Posting: Cash back rewards are credited to the account at the end of each statement cycle. Returned, reversed, or disputed transactions may reduce eligible rewards. Fees: Monthly Maintenance Fee: $0.00 if qualification requirements are met; $5.00 if qualification requirements are not met. Additional Terms: Cash back rewards are subject to the stated monthly maximum. Rewards may be modified or discontinued at any time with appropriate notice. This account is intended for personal use only.