Chase Bank Doubles Cashback Rewards for Debit and Credit Card Users Starting July 1

Starting July 1, Chase Bank is updating its cashback rewards program for debit and credit card holders. Customers will now have the opportunity to earn 2% cashback on their spending, doubling the previous 1% rate. This change affects Chase customers in Birmingham and beyond.

To qualify for the enhanced cashback, customers must complete at least 15 card transactions or direct debit payments in a month. Additionally, they must maintain a minimum balance of £1,000 in one or more Chase savings accounts every day throughout the entire calendar month.

If a customer holds both a Chase debit card and a credit card, the required 15 transactions can be combined across both cards. However, the £1,000 savings balance requirement remains mandatory on a daily basis.

Money Saving Expert, founded by financial expert Martin Lewis, clarified the timeline for eligibility: customers who have been with Chase for over a year can start earning 2% cashback in July if they meet the June criteria. New customers within their first year can begin earning 2% cashback in August by fulfilling July’s conditions. However, from June 1, 2026, Chase will discontinue the existing 1% introductory cashback offer without qualifying conditions. First-year customers will be granted a two-month grace period before these new rules apply.

While the cashback benefits are more rewarding—with a higher cap and more spending categories eligible—customers will need to meet these new transaction and savings requirements each month to enjoy the benefits. The updated scheme encourages more active card usage and consistent savings to maximize rewards.