I think I've just come up for air...
Reward checking accounts seem very attractive. However, what do we really make when we're spending so much?
At $5K and 3% APY, you earn $12.50 a month. But when the requirement is 12 debit transactions (or 10), at a dollar or so each, your efforts wipe out your earnings. Even for those with $10K in the bank, the debit transactions need to be under $2 (average) in order to make out with the smallest of gains.
So do I keep my rewards checking account? Should I look at it as my bank paying for my things? Or, should I look at it as money earned is money earned?
These banks are making money off our transactions, more than they're giving back. Why should we help them? With so many folks here with 8 or so accounts - are they debiting under a $1 per transaction all the time? Or, am I the first to realize that this hustle may not be worth the effort?