The offer mentioned below for the Alliant Cashback Visa® Signature Credit Card is no longer available. The Alliant Cashback Visa Signature Credit Card is no longer available for new applicants.
There's a lot to like about the Alliant Cashback Visa® Signature Credit Card. It has no annual fee and earns a solid cash-back rate on all purchases, especially if you also bank with Alliant Credit Union and qualify for the higher rewards rate.
However, it lacks a welcome bonus and other benefits available with similar rewards credit cards. CNBC Select has details on the Alliant Cashback Visa card's benefits and rewards, to help you decide if it's the best cash-back credit card for you.
Alliant Cashback Visa Review
Welcome bonus
The Alliant Cashback Visa® Signature Credit Card does not have a welcome bonus offer. However, new card members receive Tier One Rewards for the first 100 days after being approved for the card.
Benefits and perks
In addition to earning cash back, you'll also have access to a variety of Visa card benefits, such as:
- Travel accident insurance
- Purchase security
- Extended warranty protection
- Rental car collision damage waiver
How to earn and use Alliant cash rewards
The Alliant Cashback Visa uses a two-tiered system for earning rewards. Here are the details.
Earning
Alliant credit union members who qualify for Tier One Rewards earn:
- 2.5% back on the first $10,000 in purchases each billing cycle
- 1.5% back on all other purchases
To qualify for Tier One Rewards after the introductory period, you'll need to have an Alliant High-Rate Checking account and meet the following requirements each month:
- Receive electronic statements
- Have an average daily balance of $1,000 or more
- Make at least one electronic deposit to the account every calendar month
Otherwise, you'll earn the Tier Two Rewards — a flat 1.5% back on all purchases.
Redemption
To redeem your cash-back rewards, you'll need to accumulate at least $50 in cash back. At that point, you can deposit the money into an Alliant credit union checking account or savings account or redeem it for a statement credit.
Rates and fees
The Alliant Cashback Visa card has no annual fee and no foreign transaction fee. The standard APR for purchases and balance transfers is 16.49% to 26.49% (variable). The balance transfer fee is 3% of the amount you transfer. Late payments and returned payments are subject to a fee of up to $27.
Alternatives to the Alliant Cashback Visa card
On the fence about this card? Here's how it stacks up against some of its competition.
Alliant Cashback Visa card vs. Citi Double Cash® Card
What makes the Citi Double Cash® Card special is that it sits near the top of its class in several categories. It is an excellent option if you want flat-rate rewards, a balance transfer intro-APR or no annual fee.
- Balance transfers get a long intro APR
- Generous flat-rate cash-back rewards structure
- Earns transferable rewards
- No annual fee
- It has a foreign transaction fee
- Intro APR only applies to balance transfer
- Points transfer ratios are reduced compared to premium cards
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- 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.
- Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. To earn cash back, pay at least the minimum due on time. Plus, earn 5% total cash back on hotel, car rentals and attractions booked with Citi Travel.
- Balance Transfer Only Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 18.49% - 28.74%, based on your creditworthiness.
- Balance Transfers do not earn cash back. Intro APR does not apply to purchases.
- If you transfer a balance, interest will be charged on your purchases unless you pay your entire balance (including balance transfers) by the due date each month.
- There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).
Balance transfer fee
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.
Foreign transaction fee
3%
The Citi Double Cash® Card earns 2% back on all purchases (1% when you buy and 1% when you pay). This makes it a more valuable card for earning cash back for anyone who doesn't have an Alliant High-Rate Checking account and doesn't qualify for Alliant's Tier One Rewards.
The Citi Double Cash Card also offers more options for redeeming rewards. In addition to providing standard options for redeeming cash back, you can also transfer the rewards to travel partners at reduced rates. However, if you pair it with the the right Citi card, you can unlock improved transfer ratios.
Alliant Cashback Visa card vs. Chase Freedom Unlimited®
The Chase Freedom Unlimited® is a no-annual-fee card that earns generous cash-back on everyday purchases and a lucrative welcome bonus.
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening
- Enjoy 5% cash back on travel purchased through Chase TravelSM, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 1.5% on all other purchases.
- No minimum to redeem for cash back. You can use points to redeem for cash through an account statement credit or an electronic deposit into an eligible Chase account located in the United States!
- Enjoy 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 18.24% - 27.74%.
- No annual fee – You won't have to pay an annual fee for all the great features that come with your Freedom Unlimited® card
- Keep tabs on your credit health, Chase Credit Journey helps you monitor your credit with free access to your latest score, alerts, and more.
- Member FDIC
Balance transfer fee
Intro fee of either $5 or 3% of the amount of each transfer, whichever is greater, in the first 60 days. After that, either $5 or 5% of the amount of each transfer, whichever is greater.
Foreign transaction fee
3% of each transaction in U.S. dollars
The Chase Freedom Unlimited® card is also a no-annual-fee cash-back card (see rates and fees). The Freedom Unlimited also has a welcome bonus: earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening. Enjoy 5% cash back on travel purchases through Chase Travel℠, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1.5% cash back on all other purchases.
The Chase Freedom Unlimited also pairs well with other Chase credit cards. If you have a Chase Sapphire Preferred® Card (see rates and fees), Chase Sapphire Reserve® (see rates and fees) or Ink Business Preferred® Credit Card (see rates and fees), you can pool your rewards. This allows you to transfer the rewards you earn with the Freedom Unlimited to any of Chase's 14 travel partners.
Is the Alliant Cashback Visa right for you?
The Alliant Cashback Visa is a stellar cash-back card — if you have an Alliant High-Rate Checking account and qualify for Tier One Rewards. However, without the Tier One Rewards boost, this card's appeal is diminished. Earning 1.5% cash back on all purchases is an above-average rate for everyday purchases, but it lacks the bonus categories, intro bonus and other benefits that similar cards have. Unless you plan on opening an Alliant bank account, you can get everything this card offers and more from several other no-annual-fee cash-back credit cards.
Bottom line
The Alliant Cashback Visa is an above-average cash-back card with the potential to be much more. This is a nearly perfect option for anyone who wants a lucrative and simple credit card that earns flat-rate cash back and is willing to bank with Alliant Credit Union. But if you prefer more valuable rewards or don't bank with Alliant, then there are several options available that provide additional benefits and can be just as rewarding.
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