As many of you know, I decided to go all cash a several years ago when my spending got a little out of hand. I stopped using credit cards and made an effort to live on only what I made and nothing more. As the years have gone by and I have evaluated the urges behind my spending habits I’ve gotten more comfortable with using credit. But maybe you don’t want to get a credit card. Even though there are cash back credit cards for young adults, you may want to use your own money. Well, now you can. PerkStreetSM has a cash back rewards debit card that gives you perks for shopping the way you normally do. PerkStreet customers have earned over $1,000/year through using their PerkStreet Debit Card.
I’m earning Perks!
How Much Can I Earn in Rewards?
PerkStreet’s perks program can allow the average American to earn over $500 a year in cash back. According to the U.S. Bureau of Labor Statistics, the average American spends $601 per week on purchases that could be put on a debit card. $601 in weekly non-PIN purchases can earn $563 in perks annually, including 1% cash back on purchases, up to $25 in the 2% online shopping bonus, up to $25 in 2% offline shopping bonus, and up to $200 in 5% PowerPerks bonuses.
How Can I Earn 5% Cash Back?
There are PowerPerks that rotate by retailer and you get a notification each month so you can take advantage of those perks at that time. Here is an example of recently offered retailers. These are examples of perks that were offered to me. Your offers may be different based on your location.
- 1-800-Flowers
- The Body shop
- Champs Sports Online
- Nordstrom Online
- Sam’s Club
- Patagonia
- Boston Market
- Caribou Coffee
- Petsmart Online
- Hot Topic
What About Other Online Banks?
PerkStreet gives more debit card rewards than ING, Ally, USAA, and Bank of America. That pretty much sums it up.
The Drawback
It takes a few days to transfer money into this account. For me, that is one day too long. I am used to direct deposit and having my money right away. However, this time frame is only if you are transferring money from another bank, which I happened to be doing. You can set up direct deposit so that your check is automatically deposited in your PerkStreet account and the money will show up right away.
How Can I Maximize Perks?
The easiest way to maximize Perks is to use the PerkStreet FinancialSM Debit MasterCard® for the 5% rewards as much as possible. Those are limited to $5,000 per year. The second best way is to eat out with friends that have a PerkStreet card. You both earn 2% cash back unlimited. If you are an Amazon junkie like me, make sure you use your PerkStreet card at Amazon.com for 2% cash back. Then, you can always use your card every day for unlimited 1% cash back.
How to Open a PerkStreet Account
- Fill In the Online Application
- Choose a funding source and deposit funds
- Start earning Perks!
Perkstreet: Cash Back Without a Credit Card
LaTisha Styles
November 2012
“Get perks and cash back without using a credit card…”
“The Perkstreet Debit Card is the easiest and most straightforward way for you to get cash back without needing a credit card. The average American can earn over $500 a year in cash back.”
About LaTisha Styles
