Dave Ramsey Recommends PerkStreet Financial Rewards Debit Card

by Ryan Guina

If you know anything about Dave Ramsey, you should know this: He hates debt, and he hates credit cards. And with good reason. He made some poor financial decisions in his younger days and lost a multi-million dollar real estate portfolio he had built.

He was living beyond his means and he took on too much debt. The crash was hard, but he and his family came out stronger than ever. Now Dave Ramsey shares his experiences with others by teaching them how to become financially free by avoiding debt and making smart financial decisions. His Financial Peace University is one of the most popular personal finances programs in the US. You can read an overview of Dave Ramsey’s Baby Steps for more information about his strategies for achieving financial freedom.

Dave Ramsey Recommends PerkStreet FinancialSM Checking and Rewards Debit Card

Dave on Spending. One of Dave Ramsey’s recommendations is to use the envelope system for budgeting. This is where you set aside a certain amount of cash in several envelopes, one for each major category of your budget.

For example, you might have envelopes for groceries, gas, eating out, clothes, entertainment, etc. Once that cash is gone, you have no more money to spend on that category. It’s a great way to force yourself to stick to a budget. But the envelope system doesn’t always work, especially if you need to make a purchase online, rent a car, make a major purchase if you aren’t comfortable carrying cash, etc. In these instances, Dave Ramsey recommends using a debit card instead of a credit card. And for this, he recommends using PerkStreet Financial rewards debit card.

Dave Recommends PerkStreet Financial

Why PerkStreet Financial? PerkStreet is one of the few rewards debit cards on the market, and is available to virtually anyone who wants to open a new checking account. PerkStreet is currently offering up to 2% cash back on all purchases at select retailers, and 1% cash back on almost all other purchases. This makes the rewards program better than many rewards credit cards.

Earn more cash back through PowerPerks 2.0. PowerPerks is a free program that is part of the regular PerkStreet Financial rewards program. Each week you will receive an email with a list of retailers offering up to a 25% cash back bonus on your purchases. There’s no limit to how much you can earn using PowerPerks.

Additional PerkStreet Financial benefits:

  • Up to 2% cash back on debit card purchases – unlimited cash back
  • Plus, earn up to 25% cash back at leading retailers every week
  • The average American will earn $500 every year in cash back
  • No monthly maintenance fees
  • Free online bill pay
  • Easy electronic transfers
  • 24/7 customer support

PerkStreet Financial is a FREE online checking account that features on of the nation’s largest surcharge-free ATM networks, giving you access to your money wherever you are. There is no minimum balance requirement, and there are no monthly fees when you use your account. Your PerkStreet Financial account is also FDIC Insured for up to $250,000 and protected from fraud.

Learn more about PerkStreet or open a PerkStreet Account: You can learn more about PerkStreet Financial or open an account at http://www.perkstreet.com/. Tell them Dave sent you. 😉

Published or updated February 17, 2014.
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{ 5 comments… read them below or add one }

1 aapfi.com

Interesting. Pretty generous rewards program for no annual fee and on a debit card. Do they pay interest on the money in the account? I couldn’t find any mention on their website of actually paying any interest.


2 Ryan

I don’t believe they pay interest, which is one reason they are able to offer such a generous rewards program. However, I’m not sure you would earn more interest in a savings account if you aren’t keeping a lot of money in checking.


3 sun

How do the banks expect to make money with these customers? Are they encouraging customers to keep at least $5,000 in their checking and the bank will loan out that money and make more interest off of it? It seems those that have money get perks so banks can re-use the money and those that do not have money are nickelled and dimed so the banks can still make money off of you. Is that an accurate assessment?


4 Ryan

Great question, Sun. Here are two articles I recently wrote about this:

The first, How Banks Make Money? covers how banks make money on standard products and services.

The second article covers banks that offer higher interest rates and rewards programs: How Do Banks Make Money by Offering High Interest Rates?


5 bob raymond

How do I setup a debit card?


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