If you have been considering a PerkStreet Financial account, you may want to read a few PerkStreet reviews to see whether or not it offers the services you’re looking for. With all of the choices you have for checking accounts and financial products, you want to select one that completely suits your needs and how you manage your money. Here’s another PerkStreet review to help you determine if it’s a good choice for you:
PerkStreet Checking Account With Debit Card
If you thought checking accounts were all the same, think again. PerkStreet offers a checking account and debit card combo with a cash back program that rivals many of the credit card rewards programs. Open a checking account with a minimum of $25 – but you are not required to maintain a minimum balance. Your account comes with free checks, and as long as you use your account each month there is no monthly fee. If you don’t use the account in any given month, there is a $4.50 inactivity fee. You can pay your bills online for free and access your account online for free. There are more than 37,000 ATMs to withdraw money without fees, too.
The debit card provides 1% cash back on just about every purchase you make using the card provided you don’t enter your PIN. Just swipe the card like a credit card and all non-PIN transactions are eligible for cash back. If your account has more than $5,000 in it, you’ll get 2% cash back instead of 1%. Additionally, there are certain retailers that you can earn as much as 5% cash back at certain times, announced periodically by PerkStreet. There is no limit to the rewards you can earn with this account, which puts it ahead of just about any credit card rewards program that limits the amount you can earn. Unlike most debit cards, your PerkStreet Visa debit card offers fraud protection.
Redeeming Cash Back Rewards
While PerkStreet is calling their program a “cash back” rewards program, they actually give you your earnings in the form of gift cards. You can choose a Visa gift card, free music from iTunes and other music retailers, free coffee at Starbucks or a number of other coffeehouses, or gift cards to specific retailers.
Credit Score Considerations
If you are looking for a way to rebuild or establish credit – this account is probably not going to make a difference for you. You’ll need an actual credit card to report your on-time payments to the credit bureaus in order to build a credit profile. But, if you’re just looking for a quality internet bank that offers a rewards program, PerkStreet Financial might be a great choice.