Alliant Visa Signature Credit Card offers 2.5% cashback on the first $10,00o per month in spending. Cashback drops to 1.5% thereafter. But you will need to have an Alliant High-Rate Checking with at least $1,000 in balance to qualify for the 2.5% cashback. Let’s dive in.
Alliant Visa Signature Credit Card Review
The card offers tiers of rewards.
- Tier One rewards – 2.5% cashback on the first $10,000 per cycle, 1.5% thereafter. Requires a $1,000 balance in an Alliant High-Rate Checking account for the full quarter before you can earn the 2.5% cashback
- Tier Two rewards – 1.5% cashback, no limits
Tier One offers 2.5% cashback on the first $10,000 in spending per month. To qualify for Tier One rewards, you must have an Alliant High-Rate Checking with at least 1,000 in daily balance in the preceding quarter. So if you are a new card holder, you will NOT earn the 2.5% cashback after the first quarter. Your cashback during the first quarter will only be 1.5%, which is called Tier Two rewards. You may only earn only 1.5% cashback for 6 months depending on when you apply for the card.
No annual fee
No foreign transaction fee
- Auto Rental Collision Damage Waiver – If you use the Alliant Visa Signature Card, you can get collision damage waiver coverage for rental cars.
- Travel Accident Insurance – The benefit is up to $100,000 and covers accidental dismemberment and death. It doesn’t cover sickness.
- Extended Warranty -Adds up to one year of warranty if the manufacturer’s warranty is three years or less. For warranties less than a year, the warranty is doubled.
- The card offers no sign up bonus
- Alliant has changed the terms on this card multiple times. The card once offered 3% cashback. That was reduced because it wasn’t profitable for the bank. Alliant reduced the cashback to 2.5% and added an annual fee. Then the annual fee was removed but a $1,000 minimum balance in a high-yield checking account was required to get the 2.5% cashback. The bottom line is that Alliant can change the cashback on this card at any time. So I prefer to have a fallback card in case Alliance makes unfavorable changes to this card.
Other cards to consider
Wells Fargo Active Cash Card
The card offers unlimited 2% cashback. If you spend $1,000 in the first three months, you can get a $200 sign-up bonus. In addition, the card offers up to $600 cell phone insurance with a $25 deductible. The card has no annual fee. While the cashback for the Wells Fargo Active Cash Card is lower than the Alliant Visa Signature Credit Card, you get a $200 sign-up bonus and additional perks.
FNBO Evergreen Card
In many ways, the FNBO Evergreen card is similar to the Wells Fargo Active Cash Card. This card also offers unlimited 2% cashback with a $200 sign-up bonus if you spend $1,000 in the first three months. The card has no annual fee.
Citi Double Cash Credit Card
The card offers 2% unlimited cashback but has no sign-up bonus. While the lack of sign-up bonus is disappointing, the card offers ThankYou points which can be redeemed for cash or transferred to participating airline or hotel partners.
Alliant Visa Signature Credit Card offers 2.5% cashback which is compelling in the current cashback landscape. But to get the 2.5% cashback, you will need to maintain a $1,000 deposit at Alliant High-Rate Checking account for a full quarter before earning the rewards. Card with 2.5% cashback are hard to come by, especially without an annual fee. So it’s worthwhile to get this card for the additional 0.5% cashback. Alliant has made several changes to this card before. So there’s always a risk that the cashback will be reduced or the terms modified. It’s handy to have a backup card in case Alliant changes its mind.