PerkStreet Financial Review - 2% Cash Back Debit Card with Free Checking

It"s tough these days to get a debit card with decent cash back. Many credit cards have great cash back reward programs but try to find that in a debit card. I try to avoid using a credit card usually. I would like to find a debit card that will satisfy the reward need. I have discovered that PerkStreet Financial can do just that.

How Does it Work?

You apply online and setup an initial transfer of funds from your bank account or credit card. Within a 2 weeks you receive your checks and ATM card. You can withdraw money at ATM's and write checks. To deposit money you can use the U.S. mail with free postage paid envelopes or use free overnight delivery by UPS Stores. You can also deposit funds electronically thorough direct deposit or online transfers. Also you can even deposit cash at 18,000 Moneygram ExpressPayment locations free of charge.

Do They Have ATM's?

PerkStreet has a network of over 37,000 ATM's. They have an online ATM locator. I found within a five mile radius of my home are 28 ATM's. They are located in Walgreens, Winn Dixies, 7-elevens or gas stations. I know these location and they are safe and most are open 24-hours a day. Compared to my bank that has only 4 ATM's within 5 miles.

Who Is PerkStreet Financial For?

• People who like to pay for things with a debit card
• They want to get the most rewards from a debit card
• They prefer to bank online and the phone
• They don't have the need to go to a brick and mortar building
• They want the most free ATM's

What Are The Rewards?

1% cash back on all non-PIN* purchases if your checking balance is less than $5,000 at the start of the day.
2% cash back on all non-PIN* purchases if your checking balance is $5,000 or more at the start of the day.
5% cash back (called PowerPerks) on all non-PIN* purchases when you shop at select retailers announced on PerkStreet’s blog.
How can they afford to give such large rewards?

Because they spend no money maintaining physical branches they can pass the savings on to their customers. With no company owned ATM's they save even more money. Without spending money on buildings, large advertising campaigns and

Any Negatives?

If your account is inactive for 1 month there is a $4.50 charge per month.
The normal fees if you are over drawn or a returned item are the industry standard

Remember PerkStreet Financial accounts are FDIC insured up to $250,000 through Bancorp Bank, it's banking service provider.

How do I Contact PerkStreet Financial?

Email: support@myperkstreet.com
Telephone: 866.792.2834
Website: www.perkstreet.com
U.S. Mail: Customer Service Center
409 Silverside Road
Suite 105
Wilmington, DE 19809

Improve your financial life with the PerkStreet FinancialSM Debit MasterCard®. Save money, have fun and stay on budget with the only unlimited 2% cash back debit card. Don't miss out. Sign up today.

Need Help Paying For College, Try FastWeb.com They Will Help You Find A Scholarship

College tuition has just gotten more expensive for me. My daughter is currently starting her third year of college. She is studying Psychology and really likes it. I have been paying for it through FASFA, my money and the help from a grandparent. My problem is the grandparent has dropped out because of financial difficulties. To fill in the gap I started to look into scholarships. I never went down the road to scholarships before, but that's all changed now.

I came across a website called FastWeb.com. FastWeb.com has listings for 1.3 million scholarships worth over $3 billion. Before you can see the list of scholarships, you need to register. You are asked a lot of questions so you won't waste your time on scholarships that don't apply to you. You give them your email address the student's age, year in school, GPA, college major among other things and more.

This FastWeb.com service is provided to you free. The way they make their money is through advertising. While you fill out the information forms you are offered advertising for many non-academic sources like credit cards and contests. Ignore all that and press on. It will take you 10 to 15 minutes to complete the profile, but this will help you get better search results.

Once you finish registration, the website presents you with a list of scholarships that match your profile. The list contains the name of the scholarship, the amount, the deadline, type(whether they are scholarships, contests or require an essay). You can save your selections or mark those you don't want. 

FastWeb.com provided me with 25 potential scholarships. Some were straight scholarships, some were contests, promotions, grants, and essay contests. 

Fastweb.com list of features are:

• Search for local, national and college-specific scholarships.
• Personalized matching service.
• Search and compare your options.
• Tools and tips to help pay for college.
• Jobs and internships for students.
• Resources: articles and information.
• College search.
• For parents, students and educators.

There is a thorough customer service section which includes a FAQ. There is also an email address for questions.

Vanguard Lowers Minimum Initial Investment On Target Retirement Funds

Image via WikipediaVanguard Group Inc. has lowered the minimum initial investment for it's popular Target Retirement Fund series from $3,000 to $1,000, effective immediately. This is great news to the many people who have been held back from investing with Vanguard because of their $3,000 minimums. Previously only the Vanguard Star Fund had a $1,000 minimum.

Also Vanguard is standardizing the minimum investment for all it's Investor Shares funds to $3,000. Before the fund minimums ran from $3,000 to $25,000. This affects the minimums investment for 15 Vanguard funds, including Wellington Fund, Windsor Fund, and the Health Care Fund.

The problem I saw with Vanguard is that if you wanted to create your own balanced Index Fund portfolio with it's mutual funds, you need an initial investment of $3,000 for each fund. My suggested portfolio of Vanguard funds is a good balance for someone my age.

• Vanguard's Total Stock Market Index 50%
• Vanguard's Total Bond Index 20%
• Vanguard's Total International Stock Index 30%

If I started from scratch I would need $9,000 to get started. A $3,000 minimum for each fund. The high minimums hold a lot of people back.

With the new lower minimum of only $1,000 I can buy the Vanguard Target Retirement 2025 Fund and get the same allocation and get started with only $1,000. Vanguard has made real progress with lowering the minimums on it's Target Retirement Funds. Many new and old investors will now not be held back and can now invest with Vanguard.

Here is a list of the funds with $1,000 minimum investments:


Vanguard Target Retirement 2010 Fund (VTENX)
Vanguard Target Retirement 2015 Fund (VTXVX)
Vanguard Target Retirement 2020 Fund (VTWNX)
Vanguard Target Retirement 2025 Fund (VTTVX)
Vanguard Target Retirement 2030 Fund (VTHRX)
Vanguard Target Retirement 2035 Fund (VTTHX)
Vanguard Target Retirement 2040 Fund (VFORX)
Vanguard Target Retirement 2045 Fund (VTIVX) 

Vanguard Target Retirement 2050 Fund (VFIFX)
Vanguard Target Retirement 2055 Fund (VFFVX)

Click Here To Go To Vanguard Target Retirement Funds

These Retirement funds are an easy way for new investors to get started in index mutual funds. Even seasoned investors will love the set it and forget it way Vanguard does the heavy lifting on asset allocation and rebalancing. With expense ratios being critical to a long term investment strategy, Vanguard comes through with expense ratios between 0.16% and 0.19%.

Vanguard, in reducing it's minimums, has improved it's prospects of attracting new investors who used to be unable to meet the higher minimums to start investing. But with a larger number of smaller accounts, it could be setting itself up for higher costs and turnarounds. That's why investors with larger accounts are charged lower fees.

This is the second major change in Vanguard's fee structure. In October, the company reduced fees for customers by lowering investment minimums needed to qualify for its lowest cost Admiral shares of mutual funds. The minimum for Admiral Shares dropped from $100,000 to $10,000.

These kind of changes do not effect your upper level investors. Both these changes by Vanguard are a benefit to the small and beginner investor. These customers are the ones that need this help. I'll be watching Vanguard for further innovative changes in the future.

How To Avoid The Dreaded 6% Real Estate Commission

Image via WikipediaThe prices of homes may rise and fall, and housing bubbles may grow and and bust, but one little number continues to live on, the 6 percent real estate commission.

I grew up in the real estate and home building business and I have heard many, many times the irritation the 6% commission can cause. I would hear my father and grandfather complain every time they had to pay this fee. Whether the home sold for $25,000 or $250,000, it didn't matter.

It's a lot of money to pay for a service when margins can be very slim. Over the years there has been many negotiations, with brokers, to try and get it lowered. Some agents remain firm in their belief that the 6% commission is fair and well earned compensation for providing a necessary service. Real Estate offices have expenses and overhead. They pay for promotion and advertising. The legwork, phone calls, paper work, and negotiations use up a lot of time and money. Still, there are alternatives.

• Before settling in on an agent ask if they will accept a lower commission, maybe 3 or 4 percent. Even a reduction to 5% would save you a lot of money.
• If the buyer does not have an agent, your selling agent does not have to split the commission, so they may be more inclined to reduce their commission. Of course, negotiate this point before hand.
• If the agent that sells your home will also help you find another home to purchase you will be able to negotiate a even lower commission because of two home sales.
• Most real estate offices are quite large and must split the commission with the broker or even a home office, in case of it being a large franchise company. So it would be a good idea to find a smaller real estate company that would be more willing to take a reduced commission.
• Find a real estate office that will list your home for a flat rate. If your willing to do all the work in selling your home you could find a company that will just put your home listing in a multiple listing service. Companies that offer fewer services may just be willing to charge you a couple hundred dollars for using the Multiple Listing Service(MLS).
• If you have a real estate license for your state, whether you are buying or selling, you are entitled to half the commission. Check this for your own state. 
• Sometimes the negotiation process is at an impasse, it may break the impasse if the broker takes a percent off his commission to entice the seller to close the deal. 

There are many ways to get around the 6% commission. There are many real estate offices willing because of the tough times to take a cut in commission just to make a sale. The way to get this right is to shop around until you find a broker willing to take a reduced commission.