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www.perkstreet.com ?
Old 01-11-2011, 08:17 PM   #1
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www.perkstreet.com ?

Dave Ramsey show is promoting www.perkstreet.com

Big feature they promote is 2% cash back. But is says for all "non-PIN debit card purchases" you make.

What is a non-PIN debit card purchase ? Every time I used my debit card I think it asked for a PIN ?
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Old 01-11-2011, 09:00 PM   #2
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It's using it like a credit card, where you sign the receipt rather than enter a pin. I believe that the merchants are charged more for a credit card transaction than a debit transaction, and this is what serves to fund rewards like this.
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Old 01-11-2011, 09:50 PM   #3
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that's right - you get cash back on card purchases where you choose "credit" as the card option, instead of debit.

a review of perkstreet
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Old 01-11-2011, 10:02 PM   #4
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Who decides if it is a "pin" or "no-pin" transaction ? Merchant or purchaser ?

I use debit card today at grocery card - I am always asked to enter PIN - you can't say "no" to make it a no-PIN transaction, can you ?

Thanks !
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Old 01-12-2011, 12:02 AM   #5
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Originally Posted by Delawaredave5 View Post
Who decides if it is a "pin" or "no-pin" transaction ? Merchant or purchaser ?

I use debit card today at grocery card - I am always asked to enter PIN - you can't say "no" to make it a no-PIN transaction, can you ?

Thanks !
I don't know if you can say "no" when the transaction is already under way, but sometimes when using my card I have been asked whether it was debit or credit, which means the checker can control which way the transaction is treated. Maybe if you ask before swiping the card, they will run it as a no-PIN transaction.
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Old 01-12-2011, 06:48 AM   #6
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I don't know if you can say "no" when the transaction is already under way, but sometimes when using my card I have been asked whether it was debit or credit, which means the checker can control which way the transaction is treated. Maybe if you ask before swiping the card, they will run it as a no-PIN transaction.
That is correct. I haven't used a Debit Card in years (5-6) but back then, when asked if it was "Debit or Credit," I always answered "credit." Never once was I questioned further and never had to enter a PIN.

Now, having said that. I never used the Debit Card very often; maybe five or six times. I stopped because one of those times was a Paypal transaction for ~$15. Paypal deducted $897 from our Checking Account and it took about three weeks for Paypal to admit their mistake (actually it was their client's fraud) and return the funds. After discovering that a Debit Card is nothing more than a Plastic Check -- and all the hassles that go with that -- I have not used the Card since. (There are, of course, several other reasons to avoid a Debit Card but that is mine -- YMMV.)
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Old 01-12-2011, 07:31 AM   #7
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But with this perkstreet.com card, if you say "credit" - there's no PIN - but then that is not a debit card transaction - so no 2% rebate -correct ?

This stuff is so confusing and a waste of time....
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Old 01-12-2011, 07:35 AM   #8
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... and a waste of time....
+1
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Old 01-12-2011, 08:13 AM   #9
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Originally Posted by Delawaredave5 View Post
Dave Ramsey show is promoting www.perkstreet.com

Big feature they promote is 2% cash back. But is says for all "non-PIN debit card purchases" you make.

What is a non-PIN debit card purchase ? Every time I used my debit card I think it asked for a PIN ?
Did he specifically talk about the card or did perstreet.com have a commercial in his show?
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Old 01-12-2011, 08:48 AM   #10
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Did he specifically talk about the card or did perstreet.com have a commercial in his show?
Both - he talked about it in an "infomercial" kind of way.

If the rebate is so "tricky" as we suspect it is, I'm disappointed Ramsey was so bullish on it.
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Old 01-12-2011, 10:33 AM   #11
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Both - he talked about it in an "infomercial" kind of way.
If the rebate is so "tricky" as we suspect it is, I'm disappointed Ramsey was so bullish on it.
A "debt is evil" guy like Ramsey probably has trouble recommending any kind of credit card other than one backed with cash in the bank. In other words, a debit card...

But if he's unusually enthused about it then he's probably courting a new sponsor.
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Old 01-12-2011, 10:43 AM   #12
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I'm not sure why folks think this is tricky. It basically boils down to this:

Buy something with your perkstreet mastercard debit card. if asked, tell them it is a credit purchase (even though it is debit coming directly from your account). You will earn cash back. The onlytime you wouldn't earn cash back is if you said it was a debit card, and entered a pin.

Most stores will allow you to swipe your card, and then give you an option of credit or debit. Just choose credit and you're good to go.
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Old 01-12-2011, 10:45 AM   #13
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Originally Posted by Delawaredave5 View Post
But with this perkstreet.com card, if you say "credit" - there's no PIN - but then that is not a debit card transaction - so no 2% rebate -correct ?

This stuff is so confusing and a waste of time....
Nope, it's still a debit transaction, you just chose "credit" and didn't enter your pin. so it is a non-pin debit transaction.

Basically - just sign up for their account and use the card as you would any credit card. The funds come right out of your account like any debit card, but you get cash back. easy peasy.
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Old 01-12-2011, 11:06 AM   #14
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Nope, it's still a debit transaction, you just chose "credit" and didn't enter your pin. so it is a non-pin debit transaction.

Basically - just sign up for their account and use the card as you would any credit card. The funds come right out of your account like any debit card, but you get cash back. easy peasy.

Looks like a company shrill has come...


If you work for the company you should state that upfront... if not, then why are you new and pitching this product
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Old 01-12-2011, 11:18 AM   #15
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Now, having said that. I never used the Debit Card very often; maybe five or six times. I stopped because one of those times was a Paypal transaction for ~$15. Paypal deducted $897 from our Checking Account and it took about three weeks for Paypal to admit their mistake (actually it was their client's fraud) and return the funds. After discovering that a Debit Card is nothing more than a Plastic Check -- and all the hassles that go with that -- I have not used the Card since. (There are, of course, several other reasons to avoid a Debit Card but that is mine -- YMMV.)
You know its hard to understand why a debit card is needed. If you buy at a store and treat a credit card as an old fashioned charge card i.e. pay it off every month, there is not a lot of difference, but you get the better protections. I had a 20 min discussion at a recent visit to the bank when the guy tried to tell me I needed one. I said if I needed cash and went to the bank with a check, and a passport and drivers license and they would not cash my check (for cash), then clearly I would need a new bank. Of course the guy had to try to make his points on his performance evaluation, since selling is a significant part of it.
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Old 01-12-2011, 11:30 AM   #16
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Looks like a company shrill has come...


If you work for the company you should state that upfront... if not, then why are you new and pitching this product
I discovered the site yesterday when someone here linked to my article on my site - the one about the 30 things broke people say.

I'm talking about perkstreet because i happen to know a bit about them, wrote a review on my own site a while back as well - and I was hoping to be helpful. Sorry if I came off as a shill for the company? Didn't think I was trying to get people to sign up - just giving them the info they were asking about.
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Old 01-12-2011, 11:55 AM   #17
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DD had a debit card five or so years ago that practically forced her to use it in credit card mode (i.e., charges were still immediately taken from her checking account, but the store paid the cc fee). Her bank charged her $1.50 for using it as a debit card in any store transaction.
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Old 01-12-2011, 12:17 PM   #18
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I discovered the site yesterday when someone here linked to my article on my site - the one about the 30 things broke people say.
Welcome to the board, Moneysmarts!

This board attracts a huge number of sales and shills posters, perhaps due to their impression that we're all indolent rich. When someone jumps right into a subject without any background like you've just given, let alone an introduction, then our spamtenna twitch erect for about the thousandth time. Hence the jaded response to your posts.

You sound like you could make a good contribution to the board's knowledge. Community rules include not linking blogs & websites directly from posts (just from profiles) but we look forward to learning more about you and your writing. Perhaps you'd want to start with a post in the "Hi, I am..." forum.
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Old 01-12-2011, 12:27 PM   #19
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I discovered the site yesterday when someone here linked to my article on my site - the one about the 30 things broke people say.

I'm talking about perkstreet because i happen to know a bit about them, wrote a review on my own site a while back as well - and I was hoping to be helpful. Sorry if I came off as a shill for the company? Didn't think I was trying to get people to sign up - just giving them the info they were asking about.

I saw 3 of your first 4 posts here... and now 4 of 5... that usually shows a sign that the person has an agenda... if you do not... great... glad to have ya....

PS... I could not remember the exact word.. thanks for the shill... but I liked shrill also
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Old 01-12-2011, 12:44 PM   #20
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Based on my previous experience with Dave's investment advice this will be a big pass for me. don't know anything about it, just steering clear from all things Ramsey (we were already debt free when we first started listening to his show...DOH!).
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