Published on March 14th, 2017 | by William Charles74
Alliant Cashback Visa Signature Credit Card Review – 3% Cash Back First Year, Then 2.5% ($59 AF Waived First Year)
Update: Card will be available nationwide for everybody starting April this year. More information here.
Alliant has a credit card I’ve never seen/noticed before called Alliant Cashback Visa® Signature Credit Card. Let’s take a look at the card basics:
- Card earns at the following rates:
- 3% cash back on all purchases in the first year
- 2.5% cash back on all purchases second year on wards
- Annual fee of $59 is waived first year
- 0% foreign transaction fee
- No limit on cash back earned
- Minimum redemption of $25
- Follow not eligible for cash back (note a lot of card issuers contain similar language that isn’t actually enforced):
- Cash back cannot be earned for finance charges, fees, cash advances, convenience checks, foreign transaction currency charges, Debt Protection charges, PIN-based purchases, payment of existing card balances, balance transfers, ATM transactions, Interlink-processed transactions, fees paid for pre-paid and re-loadable cards such as certain gift cards, or payments made for payment instruments that can readily be converted to cash (for example, travelers’ cheques, money orders, wire transfers, and similar products or services).
- Minimum credit limit of $10,000
When looking at non bonused category spend, we usually compare cards to 2% cash back on all purchases with no annual fee. This card offers 3% cash back the first year with no annual fee (similar to Discover it Miles), so it’s obviously better in that regard. Year two onwards you’d need to spend $11,800 to be better off with this card compared to a regular 2% card. There is also the USAA Limitless card that offers 2.5% cash back with no annual fee, that will be better for most people but it’s not available to everybody.
The nice addition is the lack of foreign transaction fees. I assume you’ll need an Alliant account to apply (soft pull to join), they are one of the better hub accounts and lots of datapoints of using ACH to meet direct deposit requirements for bank account bonuses.
It looks like you can also upgrade to this card if you already have an existing Alliant card (they offer targeted bonuses of up to $400 for their other cards). Please share your experiences with this card in the comments below.