Alliant 2.5% Credit Card to Rollout Nationwide in April

Alliant recently lauched a credit card that offers 2.5% flat cash back on all purchases and no foreign transaction fees. There is a $59 annual fee, waived the first year. The first year  also gets a bonus cash back rate of 3% on all purchases instead of 2.5%.

Currently, the card is only available via phone application or by upgrading an existing card. And it’s only available to Alliant members.

Starting in April it will become available for all, as heard by Milestomemories from a bank representative.

The card currently is in a “soft launch” for select Alliant members, but it will be available to all starting in April (just a couple weeks away!).

The truth is that it’s easy to become a member by making a $10 donation. That said, to save the $10 cost, non-members can simply wait a few weeks and apply when it goes public. I imagine many people are considering this card; I certainly am.

It seems likely that once it rolls out fully there will be an online application link as well, but that’s just speculation on my part.

It’s really amazing how the market keeps pushing up the stakes. Only a few short years ago, getting 2% was difficult; now the bar is getting pushed up to 2.5% with the Allliant card and the USAA card.

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Chris
Chris (@guest_377740)
March 27, 2017 14:15

Made a $10 donation to be able to enroll now and hopefully beat the rush when it launches. Had to cough up my last two paystubs. Didn’t get the credit limit I wanted but they said in 6 months I can request an increase or if they see my overall utilization is low they’ll bump it up automatically.

5150
5150 (@guest_375528)
March 23, 2017 12:59

Got the card. Love the 3% on everything.

Jay
Jay (@guest_375338)
March 23, 2017 02:32

After talking with a representative, I was told that it requires not only a minimum of $10,000, but also that there have been no approvals for those under a 680 Fico score. Looks like they pull Transunion mainly.

5150
5150 (@guest_375054)
March 22, 2017 16:16

Getting an approval from these guys is like applying for a mortgage.
You go through the “Lending” department who review and document all aspects of your identity, credit, and income.
Need to provide pay stubs and ID documents regardless of credit score and other cards you may have.
These are Newbies in this field and they rely on their Mortgage model.
BUT, great card and cash back…..

NewHere
NewHere (@guest_374264)
March 21, 2017 13:46

Applied over the phone and got denied due to high number of recent inquiries/new cards (applied for two AmEx this month), so it may worth waiting if you opened any CC in a relatively short time. Hard pull in TU ;(

jf
jf (@guest_374121)
March 21, 2017 09:47

min 10k starting limit, right? and doesn’t look like they are asking for POI???

Charles
Charles (@guest_374027)
March 21, 2017 05:41

Had an email awhile back expired end of Feb for 35k after 3k spend for Alliant Visa® Platinum Rewards Credit Card. Wonder if you can get that when targeted. Meet requirements then PC to this new card. Sexy card when not working on minimums. Especially the no FTF.

MM
MM (@guest_373706)
March 20, 2017 18:15

This is attractive stuff, particularly for, say, a spouse that has little interest in keeping up on which card they should be using for a given purchase;) That said, unless you’ve either a) exhausted most of the cards with decent signup bonuses and/or b) are a dedicated MSer, the opportunity cost of forgoing other cards with good signup bonuses for this is high. Still, I think this is a great card for the person who doesn’t wanna get deep into the churning game but does want to make their spending work for them. Interesting developments for sure.

Jake
Jake (@guest_373658)
March 20, 2017 17:02

I’d rather keep my Citi Double Cash Card and not worry about hitting the $12,000 minimum every year. Also, to make the hard pull worth it for the 3%, you would need to wrack up $20,000 in spending in the first year ($200 cash back). Lot of work for a $200 bonus…

Greg
Greg (@guest_373594)
March 20, 2017 15:49

“It’s really amazing how the market keeps pushing up the stakes. Only a few short years ago, getting 2% was difficult; now the bar is getting pushed up to 2.5% with the Allliant card and the USAA card.”

The competition is necessary but not sufficient for this – the other half of this is that interest rates are finally rising, so while the big banks will hold on to as much of the spread as they can for as long as they can, but smaller banks hungry for additional volume will be the first ones to pass on the margin to the consumers.

Bob
Bob (@guest_373599)
March 20, 2017 15:55

Could you explain that further? I’m not sure I see the connection between interest rates, which are generally speaking applied to bank deposits, and credit card cash back. If Visa or other payment networks started charging higher rates for the interchange fees, then I’d understand the increase in cc cashback rates.

Greg
Greg (@guest_373628)
March 20, 2017 16:40

In the primary case, it’s through additional margin on revolving balances. Almost every card now on the market has a floating APR, which means that as the prime rate increases, so does the APR. Which leads to additional profits for the bank. The bank could choose to pocket the whole profit, or it could decide to use some or all of it to attempt to increase signups through lower APRs or through additional perks.