EQ Bank Card
EQ Bank
Annual fee
CA$0
Rewards rate
0.5%-0.5%
Welcome Bonus
CA$800
Apply Now →on EQ Bank's website
- 0.5%Cash back on every purchase
Welcome Bonus:
Get up to CA$800 in welcome bonus + a limited time CA$100 cashback.
Reward Rate:
Earn 0.5% cash back on every purchase.
The standout feature of the EQ Bank Card is its ability to earn interest on the balance while providing cash back on purchases, making it a unique offering in the prepaid card market. However, its low cash back rate may not appeal to everyone.
Pros:
- No annual fee
- Earn interest on balance
Cons:
- Low cash back rate
- Limited features compared to traditional credit cards
The EQ Bank Card may be suitable for individuals seeking a no-annual-fee prepaid card that allows them to earn interest on their balance while also providing a modest cash back reward. However, those looking for higher cash back rates may need to consider alternative options that better align with their spending habits.