PerkStreet FinancialSM is a relatively new financial services company that offers what is quite possibly the best nationally available rewards debit card program. The current offer is 2% cash back program on all purchases, and up to 5% cash back on purchases in popular categories (details on the cash rewards program below). This makes the rewards program better than many credit card rewards programs.
PerkStreet Financial Debit Reward Card
PerkStreet Financial is a free online checking account with one of the best rewards debit card programs available.
How can they offer better rewards than most banks? Because PerkStreet lives entirely online. There are no branches so they don’t have to spend money maintaining buildings and property.
How PerkStreet Works
PerkStreet Financial works like most other online banks. There are no account minimums or minimum monthly balance requirements, a wide network of free ATMs, free online money transfers between PerkStreet and another bank, and more.
Because they only offer an online presence and don’t have branches, they also offer free overnight shipping to deposit checks. Just take your check to any UPS Store or MailBox, Etc. and you can ship it overnight for free for next day deposit.
Here are some more bullet points about PerkStreet Financial:
- PerkStreet Financial offers up to 2% cash back on debit card purchases – one of the best debit card rewards programs in America!
- Earn 2% when your Account balance is $5k+, or earn 1% when your Account balance is less than $5k
- The average American will earn $600 every year in cash back
- A great tool to improve your financial life – use your cash back to pay down your debt faster, save for your future, give back to others or just have some fun
- No cap on the amount of rewards you can earn plus no annual fee
- No monthly fees when you use your account
- Free online banking and bill pay
- Easy electronic transfers
- 24/7 customer support
- FDIC-insured deposits, up to $250,000
Additionally, PerkStreet Financial offers ATM access at 37,000 free ATMs nationwide.
PerkStreet Financial Debit Rewards Program Details
2% cash back program. The PerkStreet Financial(SM) MasterCard® Debit Card offers 2% cash back rewards if you maintain a balance of at least $5,000. Here is the fine print:
“When your Account Balance at the start of the day is $5,000 or more, you’ll earn 2% cash back for all non-PIN debit card purchases you make on that day. When your Account Balance at the start of the day is less than $5,000, you’ll earn 1% cash back on all non-PIN debit card purchases you make on that day. To determine your starting Account Balance, we use your closing balance after all settled transactions from the previous business day. Pending purchases and funds from deposited items that are not yet available are not included in your Account Balance. There is no limit to the total amount you can earn, unless otherwise specified in specific category bonus terms and conditions.”
5% cash back in popular categories. PerkStreet is also offering 5% cash back for purchases in popular summer spending categories during the remainder of June and through July (including ice cream from Ben & Jerry’s, Culvers, Dairy Queen and Cold Stone Creamery; home improvement goods from Lowes, Home Depot and Menards; and gas paid for at the pump). Current PerkStreet customers can also take advantage of 5% cash back at all Apple Stores from June 24-27.
Claiming your rewards. You can redeem your rewards for cash (my favorite option!), or a gift card from popular retailers such as Amazon, Target, Best Buy, or a gift card.
Open a PerkStreet Financial Account to take advantage of this cash reward program! Opening a PerkStreet Financial Account is free and easy (it takes about 5 minutes). Click here to open your PerkStreet Financial account.
What Makes PerkStreet Financial better than its Competitors
Many banks offer debit card rewards programs, but few match up to PerkStreet. Many debit reward card programs offer small rewards, fees, or other requirements. The only way to get a better rewards program is to go to a credit card – which many people are unwilling to do.
Who PerkStreet is for
PerkStreet Financial is for anyone who wants a solid rewards program to reward their everyday spending, but doesn’t want to use a credit card. If you primarily use a debit card for purchases, then PerkStreet might just be a great fit for you.
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{ 4 comments… read them below or add one }
This is news to me! Thanks for the heads up on this one, I’ll definitely be looking into this!
Thanks for the info! I’ve been looking for a new online bank (currently using Emigrant Direct) – Perkstreet will probably be a finalist!
I work for PerkStreet Financial and wanted to clarify something:
The 2% offer is does NOT expire six months after your account is opened. As long as your Current Account Balance at the start of the day is $5,000 or more, you’ll earn 2% cash back on all non-PIN purchases you make that day.
I also wanted to mention that you can move money from outside checking and savings account for free on our banking website which is even faster than free overnight mail.
Thanks and I’m glad you like our product.
Laurie McLachlan
http://www.perkstreet.com
Thanks for the clarification, Laurie.