AmEx to offer debit card that will accrue rewards points
By KEN SWEET
AP Business Writer
NEW YORK (AP) — American Express has launched a checking account that comes with a debit card that will allow its customers to accrue its popular Membership Rewards points the same way they do on its credit and charge cards. It’s a notable move for AmEx and the banking industry in general. That’s because debit cards that offered airline miles or rewards went basically extinct after the passage of the Dodd-Frank Act following the Great Recession. Currently only a handful of small banks and credit unions offer cash back or rewards for debit-card purchases.
