The reason for this is that in order for a high interest checking account to really give you much benefit you need to maintain balances between $10,000 and $50,000.  If you don’t have that kind of liquid cash then there is absolutely no reason to have one.  Additionally if you do have that level of cash in a checking account you are at a greater risk of compromise.  If someone gets a hold of my checking account they would be lucky to get $2,000 because anymore than that is earning interest elsewhere.  If you have $10k plus and your identity is compromised you can kiss that money goodbye.  Finally the interest you are likely offered in any high interest checking account will be much lower than what you would find in the same bank with a savings account.

Chances are with more than ten thousand in the bank you should have pretty decent credit, this means you would qualify for some premium benefits with a rewards card from a major credit card company.  The rewards vary from airline miles to cash back to grocery credits.  In all reality you can find a rewards card that offers things you individually really want.  And that’s how it should be, if you search for the rewards you want first and not the gimmicks of the card company you’ll be happier than if you just arbitrarily choose a card.

The best way to manage these reward cards is to make a list of all the regular obligations you have, utilities, phones, etc, and then make another of all your loan payments.  Use the rewards card for all the monthly expenses not related to major debt obligations and keeps most of your cash in a savings account with higher interest.

There are a lot of options you have when it comes to high interest checking accounts but your best bet is a high interest savings account and a monthly rewards card.  But be sure to find a card with benefits you want.