Update 6/16/21: See updates on this card in the post Alliant Making Changes To 2.5% Back Card (Cashback Visa Signature)
Update 1/20/20: Beginning March 14, 2020, there’s a limit of $10,000 in purchases per billing cycle which earns cash back.
Update 4/2/19: The annual fee has been increased to $99 from $59. This is still waived first year. It’s not clear when this increase took place or what will happen to existing users. I know that the annual fee was still $59 in January (update was still $59 on March 28th, 2019 so change is very recent). Hat tip to reader Dan C
Card Basics
Alliant has a credit card 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 (available if you product change)
- 2.5% cash back on all purchases second year on wards
- Annual fee of $99 is waived first year (available if you product change. Keep in mind they don’t prorate annual fees or refund at all once the annual fee has posted)
- 0% foreign transaction fee (you also do earn 3/2.5% cash back on these purchases)
- No limit on cash back earned
- Minimum redemption of $25
- Minimum credit limit of $10,000
Joining Alliant
To apply for this card, you need to join the Alliant Credit Union. There is no hard pull to join and anybody can join for free. Here is the easiest way to join for free:
- Click Become a Member green button in the top right side of the Alliant web site.
- Click on Another way to qualify gray button twice until the Find Out If You Are Eligible header shows up.
- Select Freelancers Union radio button from the list of qualified organizations
- Click on Continue green button.
- You will see the following message: Congratulations! You are eligible to apply for membership in Alliant Credit Union. You have selected Freelancers Union.
- Finally, click on Continue with application green button to start your Alliant Credit Union application process.
Big thanks to reader Eduardo.
Additional Alliant Benefits
You can improve your credit score if you don’t have any installment loans by using the secured loan technique (discussed in detail here). Alliant is one of the most popular credit unions to do this with.
In addition they are one of the better hub accounts and lots of datapoints of using ACH to meet direct deposit requirements for bank account bonuses.
They also offer an account with a 2.1% APY interest rate, there are accounts with higher savings rates but this is still somewhat competitive.
Our Verdict
Obviously 3%/2.5% cash back is one of the best options out there. Our base line is usually 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 if you have the old $59 annual fee or $19,800 with the new $99 annual fee.
The nice addition is the lack of foreign transaction fees. It’s nice that you also earn 3%/2.5% cash back on these purchases. It’s also great that if you do a product change/upgrade to this card (they offer targeted bonuses of up to $400 for their other cards), that you get the annual fee waived and also the 3% cash back in the first year.
Overall I think this is a great card if you have a lot of credit card spending that is on unbonused categories. Just keep in mind that the best value comes from credit card sign up bonuses, so take into account how much unbonused spend you’ll have after meeting minimum spend requirements.
No annual fee anymore
William Charles
I just received a targeted offer for this, the Alliant Cashback Visa Signature Card.
It currently has:
No annual feeNo foreign transaction fees2.5% cashback on <=10K/month. The 2.5% cashback requires:an Alliant High Rate Checking account, which is their normal checking account anytime you maintain an adb of >$1,000Opt in to receive eStatements, andHave at least one electronic deposit posted each month (any kind).Otherwise it’s 1.5% cashback
While I like my Alliant Visa for the 2.5% and the no foreign transaction fee, my two disappointments with it is the fact you cannot redeem rewards for statement credit or deposit into your Alliant checking or savings accounts until $50 in cash-back rewards have been accumulated. This is also disappointing considering that Citibank and Bank of America have no minimum amount that needs to be accumulated.
I also hate that Alliant does not have their own built-in credit card alerts system like most other banks. You can only get one specific alert, and it’s when a charge occurs, and this alert comes from Visa and not directly from Alliant.
And finally, Alliant has no direct Zelle access, where you can Zelle out from Alliant initiated at Alliant.
I’ve had this card now for 5+ years and I’ve been impressed by how long they’ve kept the 2.5% cash back without taking it away. I can’t tell you how many times I’ve had to cancel a credit card because the company took away the reward that I originally signed up for in the first place. During this time I’ve also been using Alliant as my primary bank, and they’ve been excellent to work with, proving great, speedy customer service and great savings account rates!
@Dan I personally would not consider 3.10% from Alliant a great rate, as you wrote. The 5..25% and higher rates at multiple other banks for a savings account is a rate I would consider great.
Just got an email that Alliant has changed this to 2.5% on the first $10K per bill cycle, then 1.5% for anything over $10K. They have removed the annual fee though. This works out to a better deal for me. I’m not spending over $10K per year on a credit card.
doesn’t look like they offer 3% anymore for first year folks. It looks to be a flat 2.5% now…
Done
I’ve been using this card for a couple years now. No complaints. They have decent interest rates for savings as well.
Just received my annual fee for Alliant Cash Back 2.5% card. 4/4/20 FEE WAS STILL $59.00.
I just went to the website to apply and it had this note:
Visa Signature
2.5% cash back on all purchases (3.0% in the first year)
No foreign transaction fee
$99.00 annual fee (waived in the first year)
Changes Coming – Effective March 14th qualifying purchases up to $10,000 per billing cycle will earn cash back
So looks like starting in March, any purchases over $10,000 in a billing statement would not earn cash back.
So it seems, I sent an inquiry just to be sure, waiting for them to reply.
Their underwriting department is BS. They asked for pictures of social security card, driver license. They further asked you your pay stub and 2 years of tax filing returns.
Anyone able to add their Alliant accounts to Mint? I’ve had errors for months now.
Does this card offer any Travel Benefits such as Trip Cancellation and Interrruption protection?