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High-Yield Checking vs Credit Card Rewards — Which Gives You More?

At First State Bank Nebraska, we want to help you make the most of your money. When it comes to maximizing your earnings, high yield checking accounts and credit card rewards are usually at the forefront of the conversation. Both offer value, but they do so in different ways. While credit cards offer points, cash back, and perks, high-yield checking accounts provide something often overlooked: reliable growth.

Credit Card Rewards: Spend more, Earn more

Credit cards with rewards programs give you benefits based on your spending habits. Every time you make a purchase with a rewards card, you might earn points, cash back, or miles, depending on the card’s program. The more you use your card (responsibly, of course), the more you can earn. With interest rates on credit cards sitting at 20% or higher, these high rates can wipe out any rewards you earn if your balance is not paid in full each month. Credit card rewards act as a bonus for what you spend.

How it works:

• You spend money on everyday purchases — groceries, gas, travel, dining out.
• Your credit card provider offers a percentage back or a points system.
• These rewards accumulate and can be redeemed for travel, statement credits, gift cards, or other perks.

First Rate Checking Accounts: Making the Most of your Money

At First State Bank Nebraska, our First Rate Checking Accounts offer up to 6.50% APY, making your money work for you instead of the other way around. Unlike credit cards, your money earns interest while it’s sitting in the account, growing over time. High-yield checking accounts like our First Rate Checking Account mean you don’t have to break the bank to earn more.

Our First Rate Checking Account has two different levels, rewarding you for everyday banking activities:

High-yield checking accounts offer valuable financial benefits that help you maximize your earnings. Learn more about how you can make the most of your money with a First Rate Checking Account here.

Account has a minimum opening balance of $2,500. Annual Percentage Yield (APY) is accurate as of January 1, 2025. Rates are subject to change at any time. Limit of one First Rate Checking account per customer. ATM surcharges still apply. Message, data, and ISP rates may apply. Fees could reduce the earnings on the account. Must meet all requirements per statement cycle to earn interest.