The Alliant Visa Signature card no longer offers the increased cashback rate of 3% during the first year. The regular earning rate of 2.5% remains unchanged. Card continues to have its $99 annual fee waived the first year.
Here’s what’s showing now (compare this to image in prior post):
Reader M.S. noticed this, and they called in and heard from an Alliant rep who confirmed that the 3% signup rate has been removed from the card. The said further that the change does NOT affect those who are currently in their first year – those people will continue to earn 3% cashback for the full year.
On a related note…
Last week we wrote about how Alliant is adding a cap on cashback earnings as limited to $10,000 per month in spend which can earn cashback. This cap will go into effect on March 14, 2020, and will probably affect existing cardholders, including those who are in their first year.
When looking carefully at how this is presented, they apparently made another subtle change here which will negatively affect people who are currently in their first year: Previously, the terms limited us to earning cashback on $10,000 (see image in previous post); those in their first year would be able to earn $300 in cashback per month while everyone else would be limited to $250 in cashback per month. Now, they present the limit differently, “Maximum cash back earnings will be $250 ($10,000 in qualifying purchases) per billing cycle.” That might mean that even those in their first year will be limited to just $250 cashback per month, not $300 per month.
Update 2/1/20: They’ve sent out a letter confirming the change for existing cardholders as well, see full letter here. HOWEVER, the $10,000 limit is for everyone, so if you are in your first year you’ll still get $10,000 in spend ($300 cashback) as your max.
