If you’re looking to get cash back on purchases that you make every day using your credit card, take advantage of the PerkStreet Financial Bonus and get 2% cash back on every purchase you make using the PerkStreet checking account.
Most of us have relied on credit card rewards programs, but as a result of the Credit Card ACT and pressure for credit card companies to lower their merchant fees, credit card companies will continue to scrimp on rewards given to customers. Banks are also adding new annual fees to credit cards, making them much less of a deal.
Fortunately for consumers, debit card rewards are making a comeback in a major way through the PerkStreet Financial program and their PerkStreet Financial Bonus. The company is offering a checking account with an associated Visa debit card that offers 2% cash back on almost all purchases. The company also periodically offers higher rewards rates on certain types of purchases. For example, PerkStreet is currently offering 5% cash back on purchases at certain retailers through the holiday season.
The major gotcha of the account is that you need to have $5,000 in your account to get the 2% cash back. If you have less than that amount in your account, you’ll receive 1% cash back. Rewards also only qualify on non-PIN purchases, meaning that rewards apply when you make use of the “credit” function of your Visa debit card and not the “debit” function. The rule of thumb is that if you aren’t entering in your debit PIN number, your rewards will count.
The account also has a number of other benefits, in that there are no account fees and that the company has a network of 37,000 fee-free ATMs. The account offers up to $250,000 worth of FDIC insurance, offers free online banking and bill pay. There are also account minimums.
PerkStreet Financial is itself not a bank, but has partnered with The Bancorp bank for its banking services to provide FDIC insurance and to comply with industry regulations. This is comparable to the arrangement that SmartyPig has with BBVA to serve as the banking back-end to its savings accounts. The Bancorp Bank has been FDIC insured since 2000 and is rated on Bankrate.com
If you’re interested in taking advantage of the PerkStreet Financial Bonus, click the ad below:
Sign up today for one of the most rewarding checking accounts and get the PerkStreet Financial Debit MasterCard – the debit card that helps you get debt free. It gives you 5% cash back on certain categories and 2% on everything else. Now that’s Super Smart.