Perkstreet Financial is now offering a 2% cash back debit card for six months!

PerkStreet Financial 2% Cash Back Visa Debt Card

2% Cash Back Detail

  • To get 2% cash back for six months, you will have to open a new account online with at least a $25 deposit.
  • You can earn cash back on all non-PIN debit card purchase.
  • After six months, you’ll earn 1% cash back on all non-PIN debit card purchase.
  • There’s also two other type of rewards offered: Free music and free coffee.
  • If you choose the other rewards instead of cash back, you’ll earn double the reward for the first six months.
  • Offer only available to brand new PerkStreet customer!
  • Offer expires July 15, 2010 (in a month), so take advantage of the offer if you’re interested before it’s too late.

PerkStreet Financial $50 Sign-Up Bonus

I gotta tell you, it’s been awhile since I’ve seen any account opening bonus offers from banks — or at least, one that doesn’t require you to jump through numerous hoops.  PerkStreet Financial is now offering a $50 sign-up bonus for any new PerkStreet Financial checking account with a minimum deposit of $25.  Deposit $25 and get $50?  No hard credit inquiry? Sounds like a decent deal.

PerkStreet has partnered with the Bancorp Bank, member FDIC, to provide several of its banking services, such as FDIC insurance.  The checking account, while lacking in any interest bearing capability, is actually quite decent.  It touts a 1% “cash-back” debit card, giving you cash-back in the form of a Visa Gift Card, or a gift card to some of the leading retailers (such as Target & Amazon).

If you’re a proponent of debit card over a credit card but occasionally harbor  hidden-jealousy for credit card rewards, then PerkStreet’s checking account with rewards debit card may just be what you’re looking for.

$50 PerkStreet Sign-Up Bonus Details

  • Offer expires 2/28/2010.
  • Open an account with a $25 minimum deposit.
  • Keep the account active for three months
  • You can keep account active by using your initial $25 deposit with your debit card
  • $50 bonus will be credited into account within 15 business days at end of third month
  • Valid for only first-time customers

Things to note:

  • There is an account inactivity fee of $4.50!  To avoid this fee, you can do any of the activities: make a transaction with your debit card, write a check that clears the account, use online bill pay, initiate a withdrawal, or make a deposit to the account.
  • There is no hard credit pull with the regular account, but the Plus account with overdraft protection may have a hard credit inquiry (via Fatwallet forums).
  • If you want to milk things even more, you can fund the account up to $500 with a credit card, which will count as a purchase on your credit card, and not a cash-advance.  The initial funding will not cost you any fees from PerkStreet, but subsequent funding via credit cards will be charged 2% of funding amount.

PerkStreet Checking Account Features

  • Visa Debit Card with 1% cash back, free music, or coffee
  • Free checks, $25 deposit to open
  • No minimum balance requirement
  • No monthly fees when you use your account
  • A large surcharge-free ATM network
  • Free bill pay, switch perks without penalty

Look for a longer, in-depth review when I get a chance to test drive the account longer.