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NerdWallet > Rewards Credit Cards > PerkStreet Financial℠ Debit MasterCard®
Review / Compare / Reward Calculations / Interest Calculations / Rankings / Comments
PerkStreet Financial℠ Debit MasterCard®
PerkStreet+Financial Debit+MasterCard Credit Card

(3.5/5 - 179 Votes)
Net Annual Rewards
$432
of Cash
Reward Rate
2.00%
Annual Fee
$0
Signing Promo
None
APR, variable*
No Data
Intro APR Promotions
Purchase:
None
Transfer:
None
Summary
  • 2% back at Target.com, Amazon.com, Walmart.com, BestBuy.com and iTunes (online purchases only) up to $2,500 spent a year
  • 2% back at all of those stores in person, up to $2,500 spent a year if your account balance is $5,000 or more
  • 2% back if you and a friend use your PerkStreet cards in the same place at the same time, unlimited

Compare To Our Most Popular Cards For The Category

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Compare To Blue Cash Preferred℠ Card from American Express

Why do we think you should consider this card?

Earn $150 cash back after spending $1,000 in eligible purchases in the first 3 months of Cardmembership

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Reward Details & Calculator

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Rewards Type: Cash

Signing Promotion
$0
Estimated Annual Rewards
$21,600 * 2.00%
$432
Annual Fee, 2 yr avg
$0
Annual Rewards (Rewards less Fees)
$432

Details

  • Earn 2% on purchases
  • 2% on unlimited transactions for first 3 months, or with a balance of $5,000 or more
  • Must conduct at least one transaction a month to maintain a free account - inactive accounts are charged $4.50 per month
  • 5% back on rotating categories, limited to $250 per year
  • Beware that there is an overdraft fee of $25 per incident, a returned item fee (bounced check fee) of $23 per incident
  • There is also a charge of $2 per transaction for non-network ATM use
  • The foreign transaction fee of 1% is quite reasonable, as most large banks charge 3%
  • Domestic wire transfers are $12 each

Calculate Interest & Finance Charges

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Use the sliders to the left to calculate balance transfer interest and APR interest for this particular card.

Finance Charge, Balance Transfer of $10,000*

Balance Transfer Fee, 0.0%
$0
APR, 24 months
$671
Total
$671

*Average APR for Balance Transfers of 3.3% includes transfer fees and APR promotions.

Effective Annual Rate, Purchases

Promo EAR, 0 months
0.00%
Ongoing EAR, 24 months
3.30%
Total EAR, 24 months
3.30%

APR Rankings

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APR
N/A
Balance Transfer Fee
N/A
Cash Advance APR
N/A

Rewards Rankings

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Annual Fee
$0
ranks #1 out of 1773 cards.
Average is $9.
Base Reward Rate
2%
ranks #5 out of 963 cards.
Average is 0.99%.
Effective Reward Rate
2%
ranks #5 out of 958 cards.
Average is 1.04%.
Sign-up Bonus
$0
ranks #1762 out of 1762 cards.
Average is $33.
Credit Card Review: PerkStreet Financial℠ Debit MasterCard®


Author:
NERDBOT

Should you get the PerkStreet Financial℠ Debit MasterCard®? We'll give you the ins and outs of this card and give you a head-to-head comparison with the Blue Cash Preferred℠ Card from American Express. Also, be sure to check out our interactive credit card comparison tool.

NerdWallet Review: The PerkStreet Financial℠ Debit MasterCard®

No annual fee: The PerkStreet Financial℠ Debit MasterCard® has no annual fee. This means it's ideal for those who don't put much on their cards, and want to keep the card open for a long time. If you keep your credit cards open, you'll boost your average account age and thus your credit score.

Credit Card Showdown: PerkStreet Financial℠ Debit MasterCard® vs. Blue Cash Preferred℠ Card from American Express

Smaller signup bonus: The card's signup bonus is smaller than the Blue Cash Preferred℠ Card from American Express's, which of course means you're leaving a bit of money on the table. Obviously that isn't the end of the story, though - you also have to consider annual fees, ongoing rewards, and so forth.

Higher base rewards rate: The card's base rewards rate is higher than the Blue Cash Preferred℠ Card from American Express's. This discrepancy should catch your eye if you plan to use this as your front-of-the-wallet, everyday rewards credit card. However, balance your consideration of base rates with the presence of bonus categories, because finding a card that fits your spending profile can be the best way to maximize your rewards.

Charge card: This is a charge card, meaning you don't carry a balance. You'll need to pay your entire balance every month, or deal with serious penalties such as fees, high interest rates or both. By contrast, the Blue Cash Preferred℠ Card from American Express is a standard credit card, so you won't have to pay your debts in full every month..

Read the full review of the Blue Cash Preferred℠ Card from American Express on our blog

  • Pestilotsi

    There seems to be only 2 ways to fund this card, Bank or credit card transfer, and unfortunately that doesn’t work for me. I started using debit when I had a tax refund placed on a Greendot/Turbotax card.That worked ok until I had almost $300.00 charged to my card from an overseas travel firm. I notified them when the first 2 charges appeared as pending on my statement. they told me that they could not do anything until the charges posted (were paid) In the mean time three more charges came through from the same place and left me with a balance of -3 dollars.I closed that account and now have to wait at least 45 days while they “investigate”, just to get my money back. And as a side note, I loose $50. of that 300 as that is what I’m liable for.
    Needless to say, I need a new debit card and this one sounded perfect up until I came to the funding page.

    • http://www.nerdwallet.com/ NerdWallet

      You can also use direct deposit, or you can mail in checks (PerkStreet actually pays the postage fees for that). Check out their funding details here:
      http://www.perkstreet.com/account.aspx

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