Perkstreet

[JustBill]

I don't believe this has been mentioned anywhere on the boards, but Perkstreet is shutting down. http://www.perkstreet.com/announceme...tCode=73100000

[disneysteve]

Interesting. That is a company that Dave Ramsey has advertised for on his show. I wonder if he will comment on it.

[SeanH]

http://www.bizjournals.com/boston/blog/startups/2013/08/dave-ramsey-perkstreet-slimeballs.html

Here's what Dave said.

Doesn't really matter now, but I always thought their model was overly complicated. I'm more interested in being paid interest on my balance - not on my spending (which I believe had to be "signature" transactions and not pin).

Here's some links to the NYtimes on perkstreet articles. Some might be a little prophetic (how will this make money?).

http://bucks.blogs.nytimes.com/2012/03/07/perk-street-does-away-with-its-2-percent-debit-card-rebate/

http://www.nytimes.com/2013/08/13/your-money/banklike-company-offering-cash-back-rewards-to-close.html

http://www.nytimes.com/2010/06/23/your-money/23money.html

[Wino]

I had looked in to Perkstreet, but I didn't qualify. I'm in Dubai, and there's no way I can make a direct deposit or signature transactions.

Lots of cards give cash back. I figured "why not a debit card?" Obviously, it's because they don't get the swipe fees like the other companies do, unless you don't pin them.