So I am once again sharing my love of Perkstreet with you.
After my last post I told SuperNerd I needed to fill up at the gas station and because I was working on the previous post I wondered if it’s cheaper to use my Perkstreet debit card as a debit card to get a discount at the pump or as a credit card to get a perk from Perkstreet….
The Nerd in me came up with a pretty easy way to figure it out…. it’s a formula and if your cell phone has a calculator you have no choice but to try it out…. right? please! It’s really nerdy cool, I promise!
Take the credit card price and multiply it by .99 for 1% cash back (or .98 for 2% cash back). Then see if that number is LESS than the debit card/cash price.
Let me show you with my example from yesterday’s gas trip.
Credit Card price: $3.09
Debit Card price: $3.05
We are earning 2% because we are still within our first 3 months with Perkstreet.
So I take $3.09 x .98 = $3.0282. That means that it’s cheaper to buy gas as credit (without a pin) than it is to run it through as a debit purchase (with a pin).
The best part… it’s the same card who get’s the honor to swipe for my gas!