Atrocious I got spoiled on the reward points systems. I had been with USAA for years, but when they canceled their rewards, I began to shop around.
I found that PerkStreet (PS) was the only debit card that still offered rewards. I have a large family with a lot of monthly expenses, so I figured we'd give 'em a try.
Worst 6 months of banking in my life. Everything they have is online, but their website is horrible. It is about as advanced as AOL in '99. Their site has like 3 tabs, and most of the links don't work because PS is just a marketing arm for an actual bank. They piggyback off the bank, but have almost nothing to offer. You can't make deposits online, and transfers into and out of your account are a nightmare.
The perks suck too. When I first looked at PS, they were offering 2-3%. Now it's 1%, and even that is worthless. It takes weeks before the points are credited to your account, and they charge a fee to get your points in cash. You can get a gift card instead, but most of the gift cards are for $100 minimum ($10,000 in spending!).
I also had unauthorized charges to my account, a problem I have never had anywhere else. When I immediately called PS to stop the charges, they told me it was between me and the retailer (WM.com). They couldn't care less and they weren't the least bit interested in investigating or reporting the theft.
I got awful customer service every time I called. The people were unfriendly, unknowledgeable, and unhelpful. Which brings me to the final insult.
After the last unauthorized charge to my card, I decided to close my account. No hard feelings (yet). As soon as I closed my account, they revoked my user name and login. This is an exclusively online bank (they don't send paper statements), and I no longer had access to my statements. Fortunately, I print and balance my statement each month, but this meant that I never got my last 2 statements. Now they want my credit card so they can charge me $3 for each statement!
A scammy blog post was just made about how happy they are to offer more customers more perks. If you are in this for getting cashback only, this is absolutley pointless. The "awesome bonus" to the majority of the customers that weren't earning 2% is that you can get 2% online at a small list of retailers. If you have almost any credit card, you can use their online bonus mall to get the same if not more at any of these retailers. If your friend by chance happens to be unfortunate enough to be a member of this bank, you can get 2% if you both order at the same restaurnt. The Citi Forward card not only allows you to earn 5% at Amazon, but also 5% at any restaurant, without getting your friend to waste their time. The Fidelity Rewards credit cards both offer a flat 1.5% and 2% on everything depending on which you get, so the 1% is also a waste of time.
This move is all about profit, and if you look at their blog post, almost everyone, including the people for whom this is an "upgrade" are upset and are leaving. There's no incentive to keep money in the account and there's no incentive to use the debit card for anything. I'd rather be earing interest somewhere else than having to deal with this dishonest comany who keeps insisting it was for the good of their customers. At least be honest with us - that's the worst part. And I'm a very old customer. At least honor us somehow.
Byebye! Do not sign up for this bank!
THE BANK IS EXACTLY AS ADVERTISED, REWARDS, BUT NO FRILLS. I OPENED MY ACCOUNT AT THE PROSPECT OF GETTING CASH BACK WHICH IS EXACTLY WHAT IS HAPPENING. EVERY TIME I USE MY DEBIT CARD IN A CREDIT TRANSACTION, I EARN UNLIMITED 1% CASH BACK. I PERSONALLY DON'T HAVE A PROBLEM REDEEMING MY REWARDS FOR SPECIFIC MERCHANTS (I.E. TARGET, APPLE, STARBUCKS, APPLEBEES, ETC.), I USE ALL OF THESE PLACES ANYWAY.
THE CUSTOMER SERVICE IS ABSOLUTELY WONDERFUL! EVERYTIME I CALL THE REPRESENTATIVES ARE FRIENDLY AND EAGER TO HELP. I HAD ONE ISSUE, WHERE I FAXED THE SIGNATURE SHEET AND THEY NEVER RECIEVED IT. I HAD THREE RETURNED CHECKS, BUT THEY DIDN'T CHARGE ME A SINGLE FEE AND WERE VERY HELPFUL IN GETTING THE SITUATION FIXED. IT WAS MY FAULT AND THEY COULD HAVE EASILY BRUSHED ME OFF, BUT THEY DIDN'T.
I DON'T USE A LOT OF THE POWERPERKS AND I WOULD LIKE TO SEE MORE SELECTION IN THAT ARE, BUT OVERALL, I'M A SATISFIED CUSTOMER
Check the reviews they speak for themselves. I can't get them to send me my balance as I have requested to close my account. I will be filing a complaint. Shame on Dave Ramsey for promoting such a bank with such horrible customer service. Tisk, tisk...
After hearing Perkstreet advertised by Dave Ramsey, I opened an account and deposited $50 in April. I've never really given it much thought, but lately began to realize I should either use the account or close it - now, come July my balance is $32. I was charged $12 for "Inactivity". I'll never put my money somewhere that CHARGES me to KEEP my money. What a rip off.