I already know why I switched my checking account to PerkStreet, but they recently reminded me with a graphic depiction of why you should too!
Now, don’t get me wrong. Ally and ING are great banks (I have my savings account with ING). But when you see it graphically presented like this, it makes it abundantly clear why PerkStreet is the clear winner in the rewards checking account game.
Where do these numbers come from?
If you spend $12,000 a year, you will earn $180* with PerkStreet.
That’s only $1,000 per month or $231 per week. If you think about it, you probably spend more than that each week. And with the 2% bonus, you earn even more than the standard product, $51 more to be exact.
But with the checking accounts that pay you interest on your balance, it’s a totally different game. Your checking account balance goes up and down as you spend, so the interest you’re earning on your account is on a smaller balance than you might think. To compare, you’d have to have an average daily balance of $12,000 to earn $60** with Ally & $30*** with ING.
On top of that, $12,000 is a large average balance to have in your checking account. This pretty much amounts to having a $12,000 minimum balance requirement. Compare that with PerkStreet, where there are no minimum balance requirements. More importantly, you get a lot more with PerkStreet all for doing what you normally do, buying things with your debit card.
*PerkStreet: $12,000*1.5% = $180
The spend earn rate is calculated using 2% cash back for 6 months and 1% thereafter in the first year.
**Ally: Balances up to $15,000 earn only 0.50%
***ING: Balances up to $50,000 earn only 0.25%
It’s a no brainer!
Join me and switch YOUR checking account over to PerkStreet today. You only need $25 to open an account!
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