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Alliant Cashback Visa® Signature Credit Card Review

Alliant Cashback Visa® Signature Credit Card Review

Rewards rate
Earn up to 2.5% cash back on your first $10,000 of qualifying eligible purchases (1.5% for purchases over $10,000)
Annual fee
$0
Foreign transaction fee
$0
Edited by
Julie Sherrier
Reviewed by
Glen Luke Flanagan
Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

Who is the Alliant Cashback Visa® Signature Credit Card best for?

It’s not unusual for a flat-rate cashback credit card to offer 1.5% back, or even 2% back, for every $1 spent. But 2.5% cash back? That’s an exceptional rewards rate — and if that appeals to you, you might want to consider the Alliant Cashback Visa® Signature Credit Card. However, the card is not without its drawbacks.

Read on and we’ll explain the details of the cashback program, how to qualify for membership with Alliant Credit Union and consider another cashback card that might work better for some consumers.

Alliant Cashback Visa® Signature Credit Card overview

    • Up to 2.5% cash back on your first $10,000 of qualifying eligible purchases (1.5% for purchases over $10,000)
    • $0 annual fee
    • No foreign transaction fee
    • 12.24% - 22.24% variable APR
  • Auto rental collision damage waiver
  • Roadside dispatch
  • Purchase security
  • Extended warranty protection
  • Personal Identity Theft protection
  • ID Navigator Powered by NortonLifeLock™
  • Travel accident insurance

Intro Purchase APR

N/A

Regular Purchase APR

13.74% to 23.74%

Intro BT APR

N/A

Regular BT APR

13.74% to 23.74%

Annual Fee

$0

Cash Advance Fee

Either $10 or 3% of the amount of each cash advance, whichever is greater

Foreign Transaction Fee

None

Balance Transfer Fee

3% of the amount of each transfer.

Pros and cons

Pros

  • Chance to earn up to 2.5% cash back
  • $0 annual fee
  • Foreign transaction fee: None

Cons

  • Restrictions on 2.5% cashback rate
  • No sign-up bonus
  • Must join a credit union
  • No introductory APR

What we like about the Alliant Cashback Visa® Signature Credit Card

  • Exceptional cashback rate

    With the Alliant Cashback Visa® Signature Credit Card, you can earn up to 2.5% cash back on your first $10,000 of qualifying eligible purchases (1.5% for purchases over $10,000).

    Even with the spending cap, this is a generous rewards program. The $10,000 spending cap applies per billing cycle — if you max it out, that’s $250 in cash back before your earning rate drops.

  • Doesn't charge an annual fee

    Thanks to its $0 annual fee, all the cash back you earn with the Alliant Cashback Visa® Signature Credit Card is a net gain (assuming you don’t incur other fees or interest charges).

  • No foreign transaction fee

    You can take the Alliant Cashback Visa® Signature Credit Card abroad without worrying about a foreign transaction fee being tacked on each time you use the card — there is none.

What to watch out for with the Alliant Cashback Visa® Signature Credit Card

  • 2.5% cash back comes with a catch

    Just because you have the Alliant Cashback Visa® Signature Credit Card doesn’t mean you’ll automatically earn 2.5% cash back on your first $10,000 in purchases each billing cycle.

    Some cardholders will qualify for what the credit union calls “Tier One” rewards, meaning the 2.5% rate, while others will only qualify for “Tier Two” rewards, meaning 1.5% cash back per $1 spent.

    To qualify for the higher rate, you must meet the requirements for Alliant High-Rate Checking. Note that eligibility is determined on a quarterly basis, and to qualify, you must meet the requirements for each month of the preceding calendar quarter.

    Requirements are as follows:

    • Open an Alliant checking account.
    • Sign up for eStatements and have one monthly electronic deposit.
    • Maintain an average daily balance in your checking account of $1,000 or more each month.
  • You won't earn a sign-up bonus

    It’s fairly common for cashback credit cards to offer a sign-up bonus if you meet a certain spending target in your first few months with the card. This can be particularly helpful if you’ve got a big purchase planned and would like to take advantage of such a bonus to offset the cost of the purchase. However, the Alliant Cashback Visa® Signature Credit Card doesn’t offer a sign-up bonus.

  • Credit union membership required

    If you want the Alliant Cashback Visa® Signature Credit Card, you’ll have to join Alliant Credit Union, which has its corporate headquarters in Chicago. It’s possible to qualify for membership if you work for or are retired from an Alliant partner; you’re a domestic partner or immediate family of an Alliant member; or you live or work in one of Alliant’s eligible communities.

    If you’re not eligible through those options, you can join Foster Care to Success (FC2S) and Alliant will pay the $5 membership fee on your behalf; this will qualify you for membership with the credit union. This essentially opens up membership to anyone — but if you don’t want to deal with extra steps when applying for a new card, joining the credit union could be considered an inconvenience.

  • Lack of a 0% intro APR period

    If you’re looking for a credit card that offers a 0% intro APR on purchases or balance transfers — which would allow you a window of time where no interest accrues — this isn’t the card you want. There’s no intro APR, so you’ll start out immediately at the regular 13.74% to 23.74% APR.

Alternate cashback card

Compare it to the Wells Fargo Active Cash® Card

| Disclosures
Wells Fargo Active Cash® Card
Wells Fargo Active Cash® Card
on Wells Fargo's secure site
0% intro APR for 15 months from account opening
17.99%, 22.99%, or 27.99% variable APR
$0
Earn unlimited 2% cash rewards on purchases
  • Earn a $200 cash rewards bonus after spending $1,000 in purchases in the first 3 months
  • Earn unlimited 2% cash rewards on purchases
  • 0% intro APR for 15 months from account opening on purchases and qualifying balance transfers, then a 17.99%, 22.99%, or 27.99% variable APR; balance transfers made within 120 days qualify for the intro rate and fee of 3% then a BT fee of up to 5%, min: $5
  • $0 annual fee
  • No categories to track or remember and cash rewards don't expire as long as your account remains open
  • Enjoy a premium collection of benefits at a selection of the world's most intriguing and prestigious hotel properties with Visa Signature Concierge
  • Get up to $600 of cell phone protection against damage or theft when you pay your monthly cell phone bill with your eligible Wells Fargo card. (subject to a $25 deductible).
  • Select “Apply Now” to learn more about the product features, terms and conditions
660 850

How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appears on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

 

If meeting the requirements to earn 2.5% cash back with the Alliant Cashback Visa® Signature Credit Card seems challenging, a better cashback credit card to consider might be the Wells Fargo Active Cash® Card. With the latter card, you’ll earn unlimited 2% cash rewards on purchases, no strings attached.

Plus, the Wells Fargo Active Cash® Card comes with a sign-up bonus and 0% intro APR periods on both purchases and balance transfers, which the Alliant Cashback Visa® Signature Credit Card lacks.

For the bonus, earn a $200 cash rewards bonus after spending $1,000 in purchases in the first 3 months.

On new purchases, enjoy a 0% intro APR for 15 months from account opening, after which a 17.99%, 22.99%, or 27.99% variable apr APR applies. There’s also a 0% intro APR for 15 months from account opening on qualifying balance transfers; after, a 17.99%, 22.99%, or 27.99% variable apr APR applies.

The Wells Fargo Active Cash® Card charges a $0 annual fee, but there is a 3% foreign transaction fee — so pick a different card with no foreign transaction fees if traveling outside the United States.

Compare the Alliant Cashback Visa® Signature Credit Card to similar cards

Comparison of four different credit cards
Alliant Cashback Visa® Signature Credit Card Wells Fargo Active Cash<sup>®</sup> Card Citi<sup>®</sup> Double Cash Card – 18 month BT offer Citi Custom Cash℠ Card
Alliant Cashback Visa® Signature Credit Card Wells Fargo Active Cash® Card Citi® Double Cash Card – 18 month BT offer Citi Custom Cash℠ Card
Review Coming Soon Apply Now
on Wells Fargo's secure site
Apply Now
on Citibank's secure site
Apply Now
on Citibank's secure site
Annual Fee
$0 $0 $0 $0
Welcome Offer
N/A Earn a $200 cash rewards bonus after spending $1,000 in purchases in the first 3 months For a limited time, earn $200 cash back after spending $1,500 on purchases in the first 6 months of account opening. Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.
Rewards Rate
Up to 2.5% cash back on your first $10,000 of qualifying eligible purchases (1.5% for purchases over $10,000) Earn unlimited 2% cash rewards on purchases Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. Earn 5% cash back on purchases in your top eligible spend category each billing cycle, up to the first $500 spent, 1% cash back thereafter. Also, earn unlimited 1% cash back on all other purchases.
Intro Purchase APR
N/A 0% intro APR for 15 months from account opening N/A 0% intro APR for 15 months on purchases
Regular APR
13.74% to 23.74% 17.99%, 22.99%, or 27.99% variable APR 16.99% - 26.99% (Variable) 16.99% - 26.99% (Variable)
Intro Balance Transfer APR
N/A 0% intro APR for 15 months from account opening on qualifying balance transfers 0% for 18 months on Balance Transfers 0% intro APR for 15 months on balance transfers
Regular Balance Transfer APR
13.74% to 23.74% 17.99%, 22.99%, or 27.99% variable APR 16.99% - 26.99% (Variable) 16.99% - 26.99% (Variable)
Balance Transfer Fee
3% of the amount of each transfer. 3% intro for 120 days from account opening, then up to 5%; min: $5 There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. A balance transfer fee of 5% of each transfer ($5 minimum) applies if completed after 4 months of account opening. 5% of each balance transfer; $5 minimum.
Card Details
Additional card details unavailable Wells Fargo Active Cash® Card Citi® Double Cash Card Citi Custom Cash℠ Card

Is the Alliant Cashback Visa® Signature Credit Card right for you?

If you plan to do your banking with Alliant — and if keeping an average daily balance of $1,000 or more in your checking account works for your budget — the Alliant Cashback Visa® Signature Credit Card offers an exceptional flat cashback rate. If, however, you don’t want strings attached to how much you earn, or you’d like a sign-up bonus or an intro APR, consider a card like the Wells Fargo Active Cash® Card instead.

The information related to the Alliant Cashback Visa® Signature Credit Card has been independently collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication.