Rewards Got Too Exclusive. Debit Is Bringing Them Back.

For the past decade, if you wanted to follow the innovation in consumer rewards, you followed the premium credit card market which included travel portals, point transfer partners, elevated redemption rates, and signup bonuses that required a $10,000 spend in the first three months. Every major issuer was fighting over the same narrow slice of the population – affluent, creditworthy, and already well-served. The industry became exceptionally good at optimizing rewards for consumers who were already benefiting the most.

Here’s what that arms race actually produced: a rewards economy that has almost entirely excluded the majority of Americans. Not because those consumers don’t spend, and not because they don’t want rewards, but because the product was never built for them. If you don’t qualify for a premium credit card – or you simply choose not to carry one – the message from the financial industry has essentially been: you’re on your own. 

Meanwhile, where financial primacy actually lives, in debit and direct deposit, hasn’t changed. The moment a member routes their paycheck to an institution, that’s the relationship. It’s where everyday life runs – groceries, gas, rent, the streaming subscriptions that have replaced the cable bill. Credit cards may generate the flashy rewards programs, but debit and direct deposit are still the clearest indicators of a primary financial relationship. The industry has spent a decade optimizing for the signal that matters less while largely ignoring the one that matters most.

To continued reading, full article here: https://www.cutimes.com/2026/06/08/rewards-got-too-exclusive-debit-is-bringing-them-back/

Coastal Credit Union Now Live with CashBack+ Credit Card Rewards

Long-time Prizeout credit union partner expands relationship with CashBack+ Credit Card Rewards; Coastal Signature Premier Rewards Visa® holders now earn cash back every time they swipe

NEW YORK, June 03, 2026 (GLOBE NEWSWIRE) — Today, Coastal Credit Union announced an expanded partnership with Prizeout, going live with credit card rewards inside CashBack+, giving the Raleigh-based credit union’s more than 297,000 members a new way to earn real, instant cash back on everyday credit card purchases, directly inside their existing digital banking platform. Coastal Signature Premier Rewards Visa® holders can now earn cash back on credit card spending alongside gift card purchases – all within CashBack+, completing a fully integrated rewards experience that competes head-to-head with the biggest banks, fintechs, and credit card rewards companies.

The announcement builds on Coastal’s existing Prizeout partnership, through which active CashBack+ members are on track to earn $150+ annually in cash back on gift card purchases in digital banking and on the CashBack+ Pay app. With the addition of CashBack+ credit card rewards in digital banking, Coastal members can now earn cash back on their credit card transactions, all within a single unified CashBack+ balance. No points or complex conversions, just real cash.

“Our goal was simple: give members an improved rewards experience without changing what they already value. With this conversion, members kept a familiar earning structure and gained a simple, more flexible way to access and use rewards,” said TJ Wyman, Coastal’s Chief Digital Officer. “Bringing everything into one platform that’s already proven to be successful makes everyday banking easier and more rewarding and creates an ecosystem for building a holistic rewards program to support even more member touchpoints.”

“Credit unions have always put their members first, and our job is to make sure the technology reflects that,” said Sherleen Wang, VP of Product at Prizeout. “CashBack+ Credit Card Rewards was built to be simple for members and flexible for the institution. Rewards show up as real cash, right inside the banking platform members already trust and use every day. For Coastal, that means a world-class rewards program that feels fully integrated into their brand and digital experience – not bolted on as a separate destination.”

Credit card rewards is the final addition to CashBack+, Prizeout’s comprehensive rewards ecosystem that now unites gift card offers, engagement actions and credit card transactions into one unified platform accessible directly within a credit union’s digital banking environment. Unlike traditional credit card rewards programs that rely on clunky third-party portals and vague points systems, CashBack+ is designed around simplicity, transparency, and credit union control. Institutions set their own cash back percentages and categories, tailoring programs to their members and business strategies. Prizeout is the only provider offering an end-to-end rewards platform built specifically for credit unions and their members.

About Prizeout:
Prizeout is an advertising and financial technology company that helps put money back into people’s pockets. Through Prizeout’s technology, brand-funded offers are available to all partners, including financial institutions, gaming companies, gig economy startups, and more, giving them access to instant cash back from national and local brands when they shop with digital gift cards. The company was founded in 2019 and is headquartered in New York City. For more information about Prizeout, please visit www.prizeout.com.

About Coastal Credit Union:
Coastal Credit Union is a not-for-profit, member-owned financial cooperative headquartered in Raleigh, NC. With more than $6 billion in assets and 297,000 members across 22 locations in central North Carolina, Coastal has been a leader in digital banking innovation since its founding in 1967. For more information, visit coastal24.com.

View source version on GlobeNewsWire.com: https://www.globenewswire.com/news-release/2026/06/03/3306160/0/en/coastal-credit-union-now-live-with-cashback-credit-card-rewards.html

Coastal CU Launches Prizeout’s Cashback+ Credit Card Rewards Program for a Vastly Improved Rewards Experience

Coastal Credit Union’s Chief Digital Officer TJ Wyman and Prizeout’s VP of Product Sherleen Wang joined us on the show to share the big announcement about Coastal Credit Union now live with Prizeout’s CashBack+ Credit Card Rewards program to provide members with a vastly improved rewards experience without changing what they already value.

According to TJ, the credit union was looking for a world-class rewards program that feels fully integrated into their brand and digital experience – not bolted on as a separate destination. And Cashback+ Credit Card Rewards program fills that bill nicely.

Sherleen added that CashBack+ Credit Card Rewards was built to be simple for members and flexible for the institution. Rewards show up as real cash, right inside the banking platform members already trust and use every day. Members can keep their familiar earning structure and gain a simple, more flexible way to access and use rewards.

Credit card rewards is the final addition to CashBack+ — of which Coastal has a long history of using, as well. Prizeout’s comprehensive rewards ecosystem now unites gift card offers, engagement actions and credit card transactions into one unified platform accessible directly within a credit union’s digital banking environment.

Check it out and let us know your thoughts. And be sure to watch the entire episode below for all the details. https://www.cubroadcast.com/episodes/4170-coastal-cu-launches-prizeouts-cashback-credit-card-rewards-program-for-a-vastly-improved-rewards-experience

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