Green Dot Unlimited Cash Back Bank Account Visa Debit Card review Bankrate Main Menu Mortgages Financing a home purchase Refinancing your existing loan Finding the right lender Additional Resources Looking for the perfect credit card? Narrow your search with CardMatch Main Menu Banking Compare Accounts Use calculators Get advice Bank reviews Looking for the perfect credit card? Narrow your search with CardMatch Main Menu Credit cards Compare by category Compare by credit needed Compare by issuer Get advice Looking for the perfect credit card? Narrow your search with CardMatch Main Menu Loans Personal Loans Student Loans Auto Loans Loan calculators Looking for the perfect credit card? Narrow your search with CardMatch Main Menu Investing Best of Brokerages and robo-advisors Learn the basics Additional resources Looking for the perfect credit card? Narrow your search with CardMatch Main Menu Home equity Get the best rates Lender reviews Use calculators Knowledge base Looking for the perfect credit card? Narrow your search with CardMatch Main Menu Real estate Selling a home Buying a home Finding the right agent Additional resources Looking for the perfect credit card? Narrow your search with CardMatch Main Menu Insurance Car insurance Homeowners insurance Other insurance Company reviews Looking for the perfect credit card? Narrow your search with CardMatch Main Menu Retirement Retirement plans & accounts Learn the basics Retirement calculators Additional resources Looking for the perfect credit card? Narrow your search with CardMatch Advertiser Disclosure

Green Dot Unlimited Cash Back Bank Account Visa Debit Card review

Written by Credit Card Reviews Writer Bankrate expert Garrett Yarbrough strives to make navigating credit cards and credit building smooth sailing for his readers. After regularly featuring his credit card, May 19, 2022 Edited by Senior Editor, Credit Card Product News Emily Sherman is a senior editor for CreditCards.com and Bankrate Credit Cards, specializing in product news and recommendations. She has worked as a writer and editor in the May 19, 2022

Share

Bankrate Logo

Why you can trust Bankrate

At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation for how we make money. The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired. Terms apply to the offers listed on this page. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. Bankrate Logo

Why you can trust Bankrate

At Bankrate, we have a mission to demystify the credit cards industry — regardless or where you are in your journey — and make it one you can navigate with confidence. Our team is full of a diverse range of experts from credit card pros to data analysts and, most importantly, people who shop for credit cards just like you. With this combination of expertise and perspectives, we keep close tabs on the credit card industry year-round to: Meet you wherever you are in your credit card journey to guide your information search and help you understand your options. Consistently provide up-to-date, reliable market information so you\'re well-equipped to make confident decisions. Reduce industry jargon so you get the clearest form of information possible, so you can make the right decision for you. At Bankrate, we focus on the points consumers care about most: rewards, welcome offers and bonuses, APR, and overall customer experience. Any issuers discussed on our site are vetted based on the value they provide to consumers at each of these levels. At each step of the way, we fact-check ourselves to prioritize accuracy so we can continue to be here for your every next. Bankrate Logo

Editorial Integrity

Bankrate follows a strict , so you can trust that we’re putting your interests first. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions.

Key Principles

We value your trust. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. We maintain a firewall between our advertisers and our editorial team. Our editorial team does not receive direct compensation from our advertisers.

Editorial Independence

Bankrate’s editorial team writes on behalf of YOU – the reader. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information. Bankrate Logo

How We Make Money

You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Bankrate follows a strict , so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. Bankrate Logo

Insurance Disclosure

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in . Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

ON THIS PAGE

PREV NEXT

Snapshot

3.2 Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. star icon star icon star icon star icon star icon star icon star icon star icon star icon star icon Bottom line The Green Dot Unlimited Cash Back Bank Account Visa Debit Card is a unique blend between a prepaid card and an online bank account. It’s a good choice for anyone wants to earn unlimited 2 percent cash back on purchases. Plus, its separate savings account earns 2 percent annual interest (APY) on balances up to $10,000, offering users a nice boost of up to $200 with interest. nowadays, but they can be a convenient way to earn some extra cash back. Just don't expect to rake in as much as you would with a solid . The Green Dot Bank Unlimited Cash Back Bank Account Visa® Debit Card earns an impressive 2 percent cash back on online and mobile purchases, plus it throws in a 2 percent APY savings account (on up to a $10,000). These are fantastic rates compared to and we've seen, but continue reading our Green Unlimited Cash Back Card review to see how the fine print affects your rewards potential.

What are the advantages and disadvantages

Pros

Excellent unlimited cash back rate Additional 2 percent APY high-yield savings account (on up to balances of $100,000) Cash can be deposited at thousands of major retailer locations, including Walmart

Cons

$7.95 monthly fee (waived by spending $1,000+ with your debit card during the previous month) Merchant category codes (MCCs) and Green Dot Bank’s qualifying purchase definition exclude many reward-earning opportunities Credit card cash back programs generally offer better cash back and benefits

A deeper look into the current card offer

Quick highlights

Rewards rate: Unlimited 2 percent cash back on online and mobile purchases Monthly fee: $7.95 (waived by spending at least $1,000 in the previous monthly period) Initial deposit: $20 to $500 Early direct deposit? Yes ("ASAP Direct Deposit," up to two days before payday) Out of network ATM withdrawal fee: $3 per transaction (50 cents for ATM balance inquiry) Overdraft fee: N/A Early direct deposit? Yes ("ASAP Direct Deposit," up to two days before payday) Additional savings account included? Yes (2 percent APY on up to a $10,000 balance)

Rewards rate

Unlimited 2 percent cash back is excellent, even for . But cash back-earning purchases in the online and mobile spending are limited by (MCCs) and Green Dot's restrictive qualifying terms.

Earning cash back

In order to receive the unlimited 2 percent cash back on online and mobile purchases, the merchant category code-a four-digit number used to classify businesses based on their primary products/services-must describe it as a strictly online or mobile purchase. The issue here is that there aren't many specific MCCs in specifically outlining goods and services that fit the description for online and mobile purchases. The says that depending on the retailer's MCC, "some online and in-app purchases appear to us as non-qualifying purchases." If the merchant's code doesn't categorize itself as an online or mobile merchant, then you won't earn cash back. For example, if you order from a brick-and-mortar bookstore online, its MCC doesn't indicate it was an online merchant and the Green Dot app doesn't notify you that it was online purchase either, your purchase won't earn rewards. Your other reward opportunities are further limited by Green Dot's sprawling list of which online purchases don't qualify: Airline purchases Person-to-person transactions (services such as PayPal and Venmo), digital wallets (such as Apple Pay and Google Pay), digital and gambling currencies (such as casino chips, lottery tickets and in-game currency purchases for mobile and online video games) and traveler's checks , such as gift cards Bill payments greendot.com and Green Dot mobile app transactions That means that even if you shop on Amazon.com or make in-app purchases, you can't earn cash back while guarding your card with a digital wallet or another third-party P2P payment service. This strips away a strong layer of identity theft protection when you're shopping online-which is especially concerning since debit cards as credit cards.

Redeeming cash back

Cash back can only be added to your account after 12 months of use, meaning upon your account anniversary each year. You then have one year to redeem the rewards before they expire. This is remarkably less flexible than how many rewards credit cards operate. Usually, you receive your new rewards and can redeem them shortly after each month's billing statement.

How much are rewards worth

Once you consider the $7.95 monthly fee, any returns you make from cash back take a huge cut. It would take spending $397.50 each month on online or mobile purchases to break even. Otherwise, you can spend $1,000 each month to waive the monthly fee and save nearly $8 of rewards. If you usually spend less than $1,000 with your debit card each month, you'll be losing almost $100 in rewards each year in monthly fees. To decide if these rewards are worthwhile, you should evaluate your budget and gauge how much you spend shopping online and via mobile each month.

Rates and fees

The Green Dot Unlimited Cash Back card carries a , many of which are common, but avoidable with the right product. Monthly fee: $7.95 (waived after spending $1,000+ in the previous monthly period) Out of network ATM withdrawal: $3 per transaction ($0.50 for ATM balance inquiry)* Teller cash withdrawal fee: $3 per transaction* Replacement card: $5 Foreign transaction fee: 3 percent* Paper check fee: $5.95 for 12 checks (No bounced check fee) Overdraft fee: N/A Minimum balance requirement: N/A *On top of other ATM and merchant fees, etc. Green Dot may also place limits on the number of checks or the dollar amount that you can deposit (outside the direct deposit). Depending on the retailer you deposit cash at, they may also have their own limits and could charge up to a $5.95 deposit fee.

How the Green Dot Unlimited Cash Back card compares to other cash back debit and credit cards

The Green Dot Unlimited Cash Back card offers a high cash back and APY rate compared to other rewards debit cards and savings accounts at its level. In fact, we've found the Unlimited Cash Back Account's 2 percent APY is much higher than the 0.09 percent (as of Sept. 23, 2020) and many other we've reviewed.

Unlimited Cash Back Bank Account by Green Dot

star icon star icon star icon star icon star icon star icon star icon star icon star icon star icon Bankrate Score Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. Annual fee Intro offer Intro offer is not available to this Green Dot credit card Rewards rate Recommended credit A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Wells Fargo Active Cash® Card

on Wells Fargo's secure site Annual fee Intro offer Earn a $200 cash rewards bonus after spending $1,000 in purchases in the first 3 months Rewards rate Earn unlimited 2% cash rewards on purchases Recommended credit A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Capital One Quicksilver Secured Cash Rewards Credit Card

on Capital One's secure site Annual fee Intro offer Intro offer is not available to this Capital One credit card Rewards rate Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Terms apply Earn unlimited 1.5% cash back on every purchase, everywhere Recommended credit A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Unlimited Cash Back Bank Account by Green Dot vs Discover Bank Checking Account

However, other rewards checking accounts can earn more versatile cash back across a wider pool of purchases. The earns 1 percent cash back on up to $3,000 debit card purchases each month-not just online or mobile purchases-with no monthly fee. If you were dead-set on unlimited debit cash back, the "fee-free" offers unlimited 1 percent cash back on signature-based debit purchases, plus 1.5 percent back on select categories.

Unlimited Cash Back Bank Account by Green Dot vs Wells Fargo Active Cash® Card

In most cases, you're better off with a when it comes to rewards. Many cash back cards carry extra and earn more rewards over a larger range of purchases. For example, the can earn up to unlimited 2 percent cash rewards on purchases. The is a solid alternative option (earns unlimited 1.5 percent back on all purchases) if you haven't built up a prime credit score just yet.

Bankrate s Take Is the Green Dot Unlimited Cash Back card worth it

The Green Dot Bank Unlimited Cash Back Bank Account Visa debit card's 2 percent cash back on mobile and online purchases, plus 2 percent high-yield savings account APY, are a notch above competing accounts' rates. Unfortunately, the seemingly broad bonus categories are narrowed a bit by the issuer's definition of a qualifying purchase. These restrictions and a monthly fee make other rewards debit cards more lucrative options. But as with other rewards checking accounts, you should view Green Dot's debit card as an added perk rather than a deciding factor in where you bank. Cash back credit cards are ultimately a better use of your rewards spending. All information about the Green Dot Unlimited Cash Back Bank Account Visa® Debit Card, Discover Bank checking account debit card and Radius Bank Rewards Checking account debit card has been collected independently by Bankrate and has not been reviewed or approved by the issuer.

Frequently Asked Questions

Does the Green Dot Unlimited Cash Back Card have a credit limit

Green Dot Bank’s Unlimited Cash Back Bank Account Visa Debit Card offers a credit limit in the amount of your initial deposit ($20 to $500).

What purchases qualify for 2% cash back

Most purchases made online or on mobile qualify for 2% cash back. In fact, you will receive a notification in your Green Dot mobile app each time you make a qualifying purchase. However, airline and gift card purchases as well as bill payments made using your debit card or Green Dot’s Bill Pay service do not qualify.

How do I reload money on my Green Dot card

You can reload cash directly to your account at the register at more than 90,000 locations. Mobile users can also reload their card through the Green Dot app, which will generate a code that you will give to the cashier along with your cash. Each of these options will incur a retail service fee of up to $4.95.

ON THIS PAGE

Written by Garrett Yarbrough Credit Card Reviews Writer Bankrate expert Garrett Yarbrough strives to make navigating credit cards and credit building smooth sailing for his readers. After regularly featuring his credit card, credit monitoring and identity theft analysis on NextAdvisor.com, he joined the CreditCards.com and Bankrate.com teams as a staff writer to develop product reviews and comprehensive credit card guides focused on cash back, credit scores and card offers. Edited by Senior Editor, Credit Card Product News

Advertiser Disclosure

Bankrate.com is an independent, advertising-supported comparison service. The offers that appear on this site are from companies from which Bankrate.com receives compensation. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within listing categories. Other factors, such as our own proprietary website rules and the likelihood of applicants' credit approval also impact how and where products appear on this site. Bankrate.com does not include the entire universe of available financial or credit offers.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. * See the online application for details about terms and conditions for these offers. Every reasonable effort has been made to maintain accurate information. However all credit card information is presented without warranty. After you click on the offer you desire you will be directed to the credit card issuer's web site where you can review the terms and conditions for your selected offer. Editorial Disclosure: Opinions expressed here are the author's alone, and have not been reviewed or approved by any advertiser. The information, including card rates and fees, is accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information.