Alliant Credit Union Visa Signature Review
Updated January 4, 2024.
The Facts
The Math
After the June 2021 revamp, this card has become even better than ever before due to 2.5% cashback with a $10K monthly spending cap and no annual fees. However, to earn Tier One rewards, you now need to have an Alliant High-Rate Checking Account and maintain $1K monthly balance. This obviously requires more relationship with the credit union with an extra account, but the credit card does become stronger for rewards.
Alliant Visa Signature vs. 2% cashback cards: if you earn Tier One rewards, this card easily beats a no-annual-fee 2% cashback card, such as Alliant Visa Platinum Rewards, Citi Double Cash, Fidelity Visa, or Synchrony PayPal MasterCard. For example, if you max out the monthly 10K spending cap, i.e., annual spending of $120K, you will earn an additional $600 over a 2% card.
Alliant Visa Signature vs. BofA Premium Rewards Visa | BofA Travel Rewards Visa: both BofA cards potentially offer a higher cashback rate at 2.625%; however, 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 2021 revamp, as long as you are willing to have an Alliant High-Rate Checking account and maintain a monthly $1K balance, this card has been stronger in rewards than ever before. 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.
© 2011-2024 DrCreditCard.net All rights reserved.
The Facts
- Annual Fee: none
- Signup Bonus: none
- Rewards: (1) Tier One: 2.5% cashback everywhere, for the first $10K in purchase per billing cycle, and unlimited 1.5% cashback after the first $10K. To earn tier one rewards, you need to have a qualifying Alliant High-Rate Checking account (by opting in for eStatements and having at least one monthly electronic deposit which can be set up easily as a recurring automatic transfer) and to maintain an average daily balance of $1,000 in your Alliant High-Rate Checking account in the previous calendar quarter. (2) Tier Two: unlimited 1.5% cashback everywhere, if you don't meet the tier one criteria in the previous calendar quarter. (3) No matter which tier you are in, cashback starts at $50 and may be in form of statement credits or deposit to your Alliant 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 with a $59 annual fee, which quickly became a favorite among cashback lovers. In 2019, the annual fee was increased from $59 to $99. In March 2020, a per billing cycle 10K spending cap was introduced. In June 2021, Alliant removed the $99 annual fee but established two rewards tiers (to earn 2.5% you need to have an Alliant High-Rate Checking account and maintain $1K in it).
- 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. It also seems that Alliant CU now allows you to become a member when you apply for the credit card.
The Math
After the June 2021 revamp, this card has become even better than ever before due to 2.5% cashback with a $10K monthly spending cap and no annual fees. However, to earn Tier One rewards, you now need to have an Alliant High-Rate Checking Account and maintain $1K monthly balance. This obviously requires more relationship with the credit union with an extra account, but the credit card does become stronger for rewards.
Alliant Visa Signature vs. 2% cashback cards: if you earn Tier One rewards, this card easily beats a no-annual-fee 2% cashback card, such as Alliant Visa Platinum Rewards, Citi Double Cash, Fidelity Visa, or Synchrony PayPal MasterCard. For example, if you max out the monthly 10K spending cap, i.e., annual spending of $120K, you will earn an additional $600 over a 2% card.
Alliant Visa Signature vs. BofA Premium Rewards Visa | BofA Travel Rewards Visa: both BofA cards potentially offer a higher cashback rate at 2.625%; however, 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 2021 revamp, as long as you are willing to have an Alliant High-Rate Checking account and maintain a monthly $1K balance, this card has been stronger in rewards than ever before. 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.
© 2011-2024 DrCreditCard.net All rights reserved.