Thursday, July 7, 2011

Why Does Dave Ramsey Recommend PerkStreet Financial For Checking and Rewards Debit Card?

Dave Ramsey the king of the debt free life recommends PerkStreet Financial. Dave Ramsey hates debt and on his radio show and many books he preaches the debt free life. Dave is adverse to debt because when he was a young real estate investor he lost everything and went bankrupt. He learned the way to prosper with your finances is to stay away from debt and live on what you make.

He has gone on to write several books about his experiences and all he has learned on his debt free journey. He has a website called and has taught millions his money program "Financial Peace University". He is most famous for his "7 Baby Steps".

"7 Baby Steps"

  1. $1,000 to start an emergency fund
  2. Pay off all debt using the Debt Snowball
  3. 3 to 6 months of expenses in savings
  4. Invest 15% of household income in Roth IRAs and pre-tax retirement
  5. College funding for children
  6. Pay off home early
  7. Build wealth and give!
While using these steps, Dave recommends creating a budget and using the envelope system. The envelope system is where you have envelopes for groceries, gas, eating out, clothes, entertainment, etc. Once that cash is gone, you have no more money to spend on that category. It’s a great way to force yourself to stick to a budget. But you can't use that system when you need to buy something and can't use cash. You may not be able to use cash in a situation so credit cards are not allowed anymore, but a debit card is. You would need one to rent a car or make a purchase online. For these types of purchases Dave Ramsey rcommends using the PerkStreet Financial Rewards Debit Card.

Why Use PerkStreet Financial?

PerkStreet is one of the few rewards debit cards on the market, and is available to virtually anyone who wants to open a new checking account. PerkStreet is currently offering 2% cash back on all purchases, and up to 5% cash back on purchases in popular categories. This makes the rewards program better than many rewards credit cards.

How Does the Cash Back Work?

To receive 2% cash back, you need to have a minimum balance of $5,000 on the day you make the purchase. If your balance drops below $5,000 your cash back reward drops to 1%. The max cash rewards of 5% is for select spending categories and stores, which changes on a scheduled basis. You can redeem your rewards for cash, or for gift cards from popular retailers such as Amazon, Target, Best Buy, or a gift card.

How Can PerkStreet Afford To Give You So Much Cash Back?

Every year, banks spend $80 billion on branches. That equals nearly $1,000 for every family in the United States. You probably only walk into a branch to use the ATM or to talk to someone when you have a question. At PerkStreet, there are better ways to spend that money — like having even more ATMs and even better service.

Additional PerkStreet Financial benefits:

  • PerkStreet Financial is a FREE online checking account
  • No cap on the amount of perks you can earn
  • Nation’s Largest Surcharge-Free ATM Network
  • No Minimum Balance Requirement
  • No monthly fees when you use your account
  • Sign-Up In Just 5 Minutes
  • Free online banking and bill pay
  • FDIC Insured Up to $250,000 and Protected from Fraud
  • PerkStreet Financial Debit MasterCard® gives you up to 5% cash back

Sign up today for one of the most rewarding checking accounts and get the PerkStreet Financial Debit MasterCard® - the debit card that helps you get debt free. It gives you 5% cash back on certain categories and 2% on everything else.


  1. This is interesting, Dave. However, I don't need another checking account, as I just signed up for the one on ING for the extra $50.00. I doubt I'll use that one very much.

    I have an AMEX blue rewards card, and it has served me quite well. I put very LARGE purchases on it and received 1.25% - 5% back. Right now I'm earning 5% back on gas which is taking the sting out a bit. I decided to start using the card again to earn cash back for Christmas. I subtract the purchase right away in my checking account so I don't get caught with a large bill and not enough to pay for it. I do miss using cash, and may go back to that soon!

    1. To stay debt free people have to avoid cashadvance services. I don’t understand people who use lending companies and then complain on a big debt. Whose fault is it? Of course it’s always easy to accuse lenders in financial trouble. But being honest people became the hostages of situation because of their own decision. I don’t believe that they don’t realize the risk or are not aware of their income. It’s just necessary to think over before signing up any agreement.

  2. Unfortunately Perkstreet just stole everyones Perks Rewards.They went belly up. Thanks Dave Ramsey.


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