Alliant Credit Union offers a variety of financial products and services to suit the needs of consumers, including their lineup of credit cards. One of the most notable options is the Alliant Cashback Visa Signature Credit Card, which has gained a reputation for its high cash back rewards rate. This article aims to provide a comprehensive review of this credit card option, discussing its features, pros, and cons to help potential cardholders make an informed decision.

The Alliant Cashback Visa Signature Credit Card stands out among cash back cards due to its impressive cash back rewards rate of up to 2.5%, on eligible monthly purchases for qualifying accounts. This lucrative rewards structure is complemented by a lack of foreign transaction fees, making it a suitable option for frequent travelers. However, it is essential to consider potential drawbacks, such as the absence of an introductory APR offer, as well as the eligibility requirements cardholders must meet to maximize their rewards earnings.

In addition to the Alliant Cashback Visa Signature Credit Card, Alliant Credit Union offers other credit card options like the Alliant Visa Platinum Rewards Credit Card. During the course of this review, we will also provide insights into these alternative credit card choices to provide readers with a holistic understanding of the various opportunities available at Alliant Credit Union.

Overview of Alliant Credit Card

Alliant Credit Union is a well-established financial institution that offers a variety of financial products and services, including credit cards. As a credit union, Alliant operates differently from traditional banks, focusing on member benefits and satisfaction. In this section, we will discuss two popular Alliant credit cards: the Alliant Cashback Visa Signature Credit Card and the Alliant High-Rate Checking Account.

Alliant Cashback Visa Signature Credit Card

The Alliant Cashback Visa Signature Credit Card is known for its competitive cashback rewards program. With no annual fee, this Visa card offers a flat cashback rate, providing value for cardholders who use it for their everyday spending. However, to access these benefits, one must be willing to join the credit union and maintain an average daily balance of at least $1,000.

Some features of the Alliant Cashback Visa Signature Credit Card include:

• Competitive cashback rate: Cardholders can enjoy a flat cashback rate on all purchases, making it an attractive option for those who prefer straightforward reward programs.
• No annual fee: The card does not charge an annual fee, making it more accessible and cost-effective for members.
• Credit union membership required: To be eligible for this card, one must join Alliant Credit Union and meet specific eligibility criteria.
• Minimum balance requirement: Cardholders should maintain an average daily balance of at least $1,000 to maximize the benefits offered by this card.

Alliant High-Rate Checking Account

In addition to credit cards, Alliant Credit Union offers an attractive High-Rate Checking Account that can provide additional savings opportunities for its members. This checking account features a competitive APY (Annual Percentage Yield), ensuring members receive a valuable return on their deposits.

Key aspects of the Alliant High-Rate Checking Account include:

• High APY: The account offers a competitive interest rate, allowing members to earn more on their deposited funds compared to traditional checking accounts.
• Online accessibility: Alliant Credit Union is primarily an online-based institution, making it more convenient for members to access and manage their accounts from anywhere.
• Large ATM network: Alliant provides its members with access to a wide network of ATMs for quick and easy cash access.
• NCUA-insured: The National Credit Union Administration (NCUA) insures Alliant Credit Union, adding an extra layer of security for members and their deposits.

In conclusion, the Alliant Cashback Visa Signature Credit Card and High-Rate Checking Account are valuable financial products for qualifying members, offering competitive features and benefits. By choosing these options, individuals can take advantage of the unique perks and rewards provided by Alliant Credit Union.

Key Features

Rewards and Earnings

The Alliant Cashback Visa® Signature Credit Card offers a competitive cash back rate on your purchases. Cardholders can earn:

• 2.5% cash back on all purchases, making it an attractive option for those looking for a flat-rate rewards credit card.

APR and Fees

• The card features a 0% intro APR on balance transfers for the first 12 months and a variable APR of 15.24% – 28.24% on purchases and balance transfers after the introductory period.
• There is no annual fee for this card, making it a cost-effective choice for those seeking to maximize their rewards without incurring additional costs.

Availability and Requirements

To be eligible for the Alliant Cashback Visa Signature Credit Card, you will need to:

• Become a member of the Alliant Credit Union
• Maintain an average daily balance of at least $1,000 in an Alliant High-Rate Savings account

Benefits and Protections

In addition to its impressive cash back rate, the Alliant Cashback Visa Signature Credit Card also comes with a range of additional benefits and protections, such as:

• Travel protection: including lost luggage reimbursement, trip cancellation/interruption insurance, and travel accident insurance.
• Purchase protection: which covers eligible items against damage or theft for up to 90 days after purchase.
• Extended warranty: adding up to an additional year to eligible warranties of three years or less.

Pros and Cons

Pros of Alliant Credit Card

• Cashback rewards: Alliant offers a competitive cashback rewards program on their Cashback Visa® Signature Credit Card. Cardholders can earn cashback when they reach the minimum of $50 cashback through eligible purchases¹.
• Balance transfer offer: The Alliant Visa® Platinum Credit Card provides an attractive balance transfer offer. This can be beneficial for those looking to consolidate debt and minimize interest costs.².
• Generous credit limits: Of the various Alliant credit cards, some offer generous credit limits, catering to individuals with good credit scores.
• No annual fee: The Alliant Visa® Platinum and Platinum Rewards Credit Cards do not have an annual fee²³.

Cons of Alliant Credit Card

• Limited availability: To be eligible for these credit cards, you must be an Alliant Credit Union member. The membership application process may require some additional steps compared to other banks.
• Minimum redemption requirement: Alliant’s cashback credit card specifically requires a minimum redemption threshold for cashback. Cardholders need to accumulate $50 in cashback before they can redeem it¹.
• Limited rewards flexibility: While the cashback rewards may be appealing, there are limited options when it comes to redeeming the rewards. This could be a downside for someone who prefers to have more flexibility with reward options.
• Foreign transaction fees: Some Alliant Credit Cards charge foreign transaction fees², making it less suitable for those who travel or make purchases from international vendors frequently.

Comparing with Other Credit Cards

Chase Freedom Unlimited

The Chase Freedom Unlimited provides excellent rewards with its cashback program. It offers:

• No annual fee
• A 1.5% cashback rate on all purchases, with no cap
• Additional cash back in specific categories, such as 5% on travel through the Chase Ultimate Rewards portal and 3% on dining and drugstore purchases

Compared to the Alliant Cashback Visa Signature Credit Card’s 2.5% cashback rate (up to $10,000 monthly limit), the Chase Freedom Unlimited may be more appealing if you do not have a large spending volume. On lower spendings, the lack of categories and monthly cap makes for a simpler rewards structure.

Wells Fargo Active Cash Card

The Wells Fargo Active Cash Card is another competitive option in the credit card market. Its key features include:

• No annual fee
• A flat 2% cashback rate on all purchases, with no spending limit
• 0% introductory APR on purchases and balance transfers for the first 15 months

While the Alliant Cashback Visa Signature Credit Card has a slightly higher cashback rate at 2.5%, the Wells Fargo Active Cash Card offers a consistent 2% cashback without any monthly limits. The 0% introductory APR period can also be an advantage for cardholders looking to make large purchases or transfer balances.

When comparing these credit cards with the Alliant Cashback Visa Signature Credit Card and Alliant Visa Platinum Credit Card, both the Chase Freedom Unlimited and Wells Fargo Active Cash Card offer competitive cashback rates with no annual fee. It is crucial to consider your spending habits and preferences before deciding which card is the best fit for you.

Reward Redemption Options

Cash Rewards

The Alliant Cashback Visa Signature Credit Card offers an impressive 2.5% cash back rate on up to $10,000 in monthly purchases for eligible accounts, and then a 1.5% rate after that, without any foreign transaction fees. Cardholders can redeem their cash rewards in the form of a statement credit or deposited directly into an Alliant savings account. This makes the card particularly appealing for those who prefer a straightforward cashback rewards system.

Travel Rewards

Although the Alliant Cashback Visa Signature Credit Card does not specifically focus on travel rewards, the absence of foreign transaction fees makes it an excellent choice for international travel. Furthermore, the cashback rewards can be utilized towards travel expenses, providing additional flexibility for cardholders who prefer to use their rewards for travel purposes.

Gift Cards

Like many other credit cards, the Alliant credit cards allow cardholders to redeem their rewards for gift cards. With a variety of options available, cardholders can easily choose from popular retailers and brands, providing an added layer of versatility when it comes to redeeming their rewards.

To summarize, the Alliant Cashback Visa Signature Credit Card offers a high cash rewards rate, various redemption options such as statement credits, savings account deposits, and gift cards, while also being a practical option for international travel due to no foreign transaction fees.

Additional Information

Membership Eligibility

To apply for an Alliant credit card, you must be a member of Alliant Credit Union. If you’re not a member, you can qualify for membership if you meet one of the following criteria:

• Be employed by an eligible organization.
• Be a member of an eligible organization.
• Have an immediate family member who is an Alliant Credit Union member.
• Make a one-time $5 donation to Foster Care to Success, their partner charity.

Credit Score Requirements

To be considered for the Alliant Cashback Visa Signature Credit Card, you must have excellent credit. Typically, excellent credit is defined as a credit score of 720 or higher.

Here are some key details about the card:

• Cashback: This card offers a 2.5% cash back rate on up to $10,000 in monthly eligible purchases.
• Monthly Eligible Purchases: The 2.5% cashback applies up to $10,000 in purchases per month. After that, the cashback rate drops to 1.5%.
• Foreign Transaction Fees: The card has no foreign transaction fees, making it suitable for international use.
• Checking account: While it’s not a requirement, having an Alliant checking account might improve your chances of being approved for their credit card. It also helps to manage your card, transactions, and rewards in one place.

Please remember to always pay your credit card bills on time and maintain a low credit utilization rate to maintain or improve your credit score.**

Frequently Asked Questions

What credit score is needed?

The Alliant Cashback Visa Signature Credit Card typically requires a good to excellent credit score, which means a range of 670 and above. However, various factors could affect approval, including your payment history and credit utilization.

How long for approval?

The approval process for this card may take a few days to a week, as it depends on the provided information’s accuracy and the credit bureau’s response time. Upon approval, the card should arrive within 7-10 business days.

Which credit agency is used?

Alliant Credit Union may use any of the three major credit-reporting agencies – Equifax, Experian, or TransUnion – to review your application. The specific agency used might vary depending on the applicant’s location and other factors.

Starting credit limit?

The starting credit limit for the Alliant Cashback Visa Signature Credit Card varies depending on an applicant’s creditworthiness and financial history. It is essential to maintain a good credit score and responsible credit card usage to increase the likelihood of a higher credit limit.

Information for application?

To apply for the Alliant Cashback Visa Signature Credit Card, you’ll need to provide personal information such as your name, contact information, Social Security number, employment details, and income. Additionally, you need to be a member of the Alliant Credit Union and maintain an average daily balance of at least $1,000 in your account.

Average credit score required?

Although there isn’t a specific average credit score required for approval, having a good to excellent credit score (670 and above) increases your chances of being approved. Besides your credit score, your credit history, payment habits, and debt-to-income ratio also play a crucial role in determining your eligibility.