I'd have difficulty making 10 debit card purchases a month.
NOTE: A debit card purchase using your PIN will not count as a Debit Card Swipe and Sign purchases. All direct deposit, ACH and Debit Card Swipe and Sign purchases must post to your account by 6:00pm (EST) on the last business day of the month to count towards that month.
The only time I've made Debit card purchases I've used my PIN. I didn't realize you could tell the grocery cashier "Debit card please but I need to sign rather than use my PIN" The transaction must go through a different process giving the bank a cut similar to a credit card purchase.
I read an article recently on these schemes (can't find it now of course
). From what I recall the writer of the article said that these rates would hold for as long as enough people failed to meet the requirements. If there is a big response to these deals and enough people sign up and continually
meet all the criteria to get the 6% then the banks will lose money on these accounts.
I'm not tempted because I am a Penfed credit card holder with cash back (over $400 ytd) so switching from credit to debit is not worth it plus all the aggro of switching auto-payments to the new bank etc.