Financial author and talk-show host Dave Ramsey rarely endorses products and frequently takes Fortune 500 companies to tasks over unacceptable business practices and poor customer service. He has especially been critical of banks and other financial companies, but finally, there’s a company he has something good to say. Dave Ramsey has endorsed a company called PerkStreet Financial.

In short, PerkStreet Financial is a free checking account that’s attached to Visa debit card that offers 2% cash back on purchases. Ramsey, who has taken on PerkStreet Financial as a sponsor of his show, says that the account is a great option for those that still use credit cards for the rewards programs.

If you’re not familiar with PerkStreet Financial, the company is offering a checking account with an associated Visa debit card that offers 2% cash back on almost all purchases. The company also periodically offers higher rewards rates on certain types of purchases. For example, PerkStreet is currently offering 5% cash back on purchases at certain retailers through the holiday season.

The major gotcha of the account is that you need to have $5,000 in your account to get the 2% cash back. If you have less than that amount in your account, you’ll receive 1% cash back. Rewards also only qualify on non-PIN purchases, meaning that rewards apply when you make use of the “credit” function of your Visa debit card and not the “debit” function. The rule of thumb is that if you aren’t entering in your debit PIN number, your rewards will count.

The account also has a number of other benefits, in that there are no account fees and that the company has a network of 37,000 fee-free ATMs. The account offers up to $250,000 worth of FDIC insurance, offers free online banking and bill pay. There are also account minimums.

PerkStreet Financial is itself not a bank, but has partnered with The Bancorp bank for its banking services to provide FDIC insurance and to comply with industry regulations.  This is comparable to the arrangement that SmartyPig has with BBVA to serve as the banking back-end to its savings accounts. The Bancorp Bank has been FDIC insured since 2000 and is rated on Bankrate.com

If you came here searching for “PerkStreet  Dave Ramsey” we hope that this article has cleared up Dave Ramsey’s relationship with perkstreet financial.