In today’s financial world, where credit card companies are offering minimum purchase bonuses of 5, 10, and even 20, 000 points, it’s hard to imagine not taking them up on their offers. But, what about those who don’t want a credit card, or those who can’t get approved for the card they want? What options are available to them to get rewarded for spending? This is where Perkstreet Financial’s checking account comes into play.
Perkstreet Financial offers a checking account that provides all the benefits and features that most normal online checking accounts have. These features include a free online bank account with bill-pay, free electronic transfers to and from your current bank account, 2 free check books, email and mobile alerts for balances and deposits, access to over 42, 000 ATMs, and 24/7 support. What sets them apart from other online banks is, they offer cash-back on purchases made with your debit card(yes, your debit card!)
Perkstreet Financial has a debit card that when used without entering your pin on purchases, and for bills paid without automatic bill pay, you get 2% cash back for the first 3 months. Alternatively, if you maintain a$5, 000 balance in your account, you always get 2% cash back. Otherwise, after the 3 months you get 1% cash back on purchases. Either way, you are getting paid to spend with your debit card. In addition, Perkstreet offers 5% cash back on rotating categories and retailers with a max reward of$250/year.
Perkstreet even mentions on their website how to link your current checking account to your new account and make free transfers back and forth, an option that websites like https://Casavvy.com recommend to get he most out of your money. As an added bonus, you can use Perkstreet’s free postage paid envelopes to mail checks and even overnight checks for free at over 34, 000 UPS stores and Mail Boxes Etc. locations.
When you compare Perkstreet Financial’s checking account to those of other online banks there are many benefits. The only drawback is they do not pay interest on the money in your account, a feature most other online banks offer.
There are some fees that can be incurred on your Perkstreet account if you don’t stay on top of things. There is an optional overdraft protection that will allow an overdraft charge to go through at a cost of$25 per charge that overdrafts your account. Also, if your account has no activity for a month it will be assessed a fee of$4.50. But, with the cash-back you can receive from your debit card it seems like a good tradeoff. If you keep$5, 000 in your account at all times, and spend at least$2, 500 on your debit card a month, then you can see a yearly cash-back reward of$600 or more.
With everyone trying to get the most out of their money these days, Perkstreet Financial’s online account seems like a no-brainer. If you don’t like using or having a credit card, this is the option for you. With no limit on the amount of rewards you can earn, everyone should take a look at Perkstreet Financial’s checking account as an option to upgrade your current checking account and/or to get your finances back in line.