Ally Gives PerkStreet Some Competition

Ally Bank, one of my favorites, announced a rewards program for their interest checking account today.  With partnerships already lined up with the likes of iTunes, Bed Bath and Beyond, Target Online, Lowes, and Barnes & Noble Online and strong marketing power, Ally enters the debit card perks arena as a legitimate player.  The checking account pays .5% on accounts less than $15k and .9% on accounts $15k or above.

This presents some direct competition to the PerkStreet Financial Debit MasterCard®.  I will be curious to see how the PerkStreet team responds.  

Currently, I would have to lean towards the PerkStreet account if I was choosing between the two.  They have a wider range of perks and there is more transparency around the offers.  However if Ally raises interest rates or greatly expands their program, it will be a tougher call, especially since it seems there's no limits on their perks vs. the $250 limit on 5% rewards at PerkStreet.

What would it take to make you switch from PerkStreet to Ally?

Not familiar with PerkStreet?  Check out my reviews.  

PerkStreet Review Part 1 

PerkStreet Review Part 2 – In Depth Comparison

PerkStreet Review Part 3 – Management Speaks

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