Alliant Credit Union Visa Signature Review (old review NOT being updated)
Updated September 1, 2019. Please see our updated review here.
The Facts
The Math
Alliant Visa Signature vs. 2% cashback cards: you need to spend roughly $20K a year on this card to beat a no-annual-fee 2% cashback card, such as Alliant Visa Platinum Rewards, Citi Double Cash, Fidelity Visa, or Synchrony PayPal MasterCard, because $19,800 x (2.5 - 2)% = $99. If you have large annual spending, this card is hugely lucrative.
Alliant Visa Signature vs. other potentially more lucrative cashback cards:
The Conclusion
After the 2019 annual fee increase, Alliant Visa Signature will beat Citi Double Cash or similar 2% cards, our benchmark for general spending, when your annual spending exceeds $20K. Due to its huge cashback potential, Alliant Visa Signature is currently rated #4 Best Card for Rewards and also among Top 10 Best Credit Cards.
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The Facts
- Annual Fee: $99, waived for the first year
- Signup Bonus: none
- Rewards: unlimited 2.5% cashback everywhere. Cashback starts at $25 and may be in form of statement credits or deposit to your Alliant Credit Union checking or savings account. Cashback expires in the December statement cycle four years after earned.
- Other Benefits: (1) waived foreign transaction fees with an embedded EMV chip. (2) Visa Signature Luxury Hotel Collection which offers perks including daily complimentary breakfasts for two, room upgrades upon availability, late checkout upon availability, $25 food and beverage credit per stay, free room wi-fi, and VIP amenities, at over 900 luxury hotels and resorts worldwide. You may book a hotel on VisaSignatureHotels.com and the rates are the same as BAR. This benefit is actually available to any U.S. issued Visa Signature card.
- History: In 2017, Alliant Credit Union introduced the 2.5% cashback Visa Signature which quickly became a favorite among cashback lovers. In 2019, the annual fee was increased from $59 to $99.
- Other Facts: To join the Alliant Credit Union, please see this page for eligibility. If you are not an employees & retirees of select organizations, a relatives of existing Alliant members, a member of select organizations, or live or work in a qualifying community, at least you can make a one-time $10 donation to Foster Care to Success to become a member. So technically, anyone in U.S. can apply for this card.
The Math
Alliant Visa Signature vs. 2% cashback cards: you need to spend roughly $20K a year on this card to beat a no-annual-fee 2% cashback card, such as Alliant Visa Platinum Rewards, Citi Double Cash, Fidelity Visa, or Synchrony PayPal MasterCard, because $19,800 x (2.5 - 2)% = $99. If you have large annual spending, this card is hugely lucrative.
Alliant Visa Signature vs. other potentially more lucrative cashback cards:
- For residents of the state of California, Connecticut, Hawaii, Illinois, Nevada, New Jersey, New York, Oregon or Washington, JCB Marukai Premium Card ($15 annual fees, waived for the 1st year) which offers up to 3% cashback is well worth considering. Its cashback structure is a little bit complicated as the following: 1% on the first $1,000 annual purchases; 2% on the next $2,000 annual purchases; 3% on purchases over $3,000 annually; additional $15 bonus when your annual spending exceeds $1,000 or $50 bonus when your annual spending exceeds $5,000. Obviously, JCB Marukai is a better card than Alliant Visa Signature, no matter how much you spend. The more you spend, the more you will get with JBC. The downsides of JCB are the usual small credit line and its smaller coverage compared to Visa/MasterCard (JCB uses Discover network in the U.S.)
- If you qualify for the USAA Limitless Cash Rewards Credit Card and keep monthly direct deposit of at least $1,000 in your USAA checking account, you will earn unlimited 2.5% cashback without an annual fee. However, not everybody is eligible to become a USAA member.
- While BofA Premium Rewards Visa or BofA Travel Rewards Visa potentially offers a higher cashback rate at 2.625%, you will need to park $100K with BofA to reach that level of cashback. To most consumers, Alliant Visa Signature is a much easier card to have.
The Conclusion
After the 2019 annual fee increase, Alliant Visa Signature will beat Citi Double Cash or similar 2% cards, our benchmark for general spending, when your annual spending exceeds $20K. Due to its huge cashback potential, Alliant Visa Signature is currently rated #4 Best Card for Rewards and also among Top 10 Best Credit Cards.
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