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The Alliant Visa® Platinum Credit Card is a basic balance transfer card that can help those looking to transfer debt from one card to another. A $0 annual fee and an initial annual interest rate can be a good option for paying off interest-free debt.
Alliant Visa Platinum Rewards Card
But outside of the interest-free window, the card’s lack of rewards means it won’t provide long-term value. A better choice might be another introductory card with a 0% APR or a balance transfer card that offers rewards.
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The Alliant Visa® Platinum Credit Card has this introductory annual offer: 0% BPL on purchases and balance transfers for 12 months, then 10.49% to 22.49%, variable. Balance transfer is $5 or 2% of the amount transferred, whichever is greater.
Therefore, the card can be a good option for pre-financing a large purchase and paying off transferred debt from another card. The 2% balance transfer fee is lower than other cards.
However, you may find other options that don’t charge balance transfer fees or offer a longer 0% APR period (or both), which can give you more time to pay off big expenses without paying interest.
However, be aware that the card’s initial APR period is listed as 0% for 12 months. This means that the actual interest rate you will receive will likely depend on your creditworthiness.
Things To Know About The Alliant Visa Platinum Credit Card
Alliant also offers the Alliant Cashback Visa® Signature Credit Card, which allows you to earn a lucrative 2.5% cash back on purchases of up to $10,000 per billing cycle.
The main thing the Alliant Visa® Platinum Credit Card has in common with its sibling is that you need to join an Alliant credit union to purchase it. Otherwise, it is significantly different in terms of current value to cardholders.
If you want a card that can save you money on interest but also earn you rewards, you’ll want to look elsewhere, and there are other options in this category that don’t require you to join a credit union. Consider, for example, the Capital One Quicksilver Cash Rewards Credit Card, which offers a long 0% introductory 15 months on purchases and balance transfers, followed by a variable APR from 19.24% to 29.24%; The commission is 3% of the amount transferred during the first 15 months. He gets a solid cashback of 1.5% on all purchases, plus an additional bonus for opening new accounts. But you need good credit to get one (usually a FICO score of 690 or higher). If this card isn’t right for you, check out our list of the best credit cards to learn more.
To qualify for the Alliant Visa® Platinum Credit Card, you’ll need at least good credit. In comparison, other balance transfer cards generally require good or excellent credit (a score of 690 or higher).
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To that end, the card can be a good choice for individuals with lower credit scores who want to transfer debt from one account to another and who may appreciate a lower annual interest rate rather than a reward.
Also keep in mind that when considering your card application, issuers usually consider additional factors such as your income and debt.
About the author: Funto Omojola is the author of car loans. Her work has been featured in MarketWatch, Yahoo Finance, and Nasdaq. read on
Whether you want to pay less interest or earn more rewards, there’s a card for you. Just answer a few questions and we’ll narrow down your search.
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Sign up and we’ll send you money articles on the topics that matter most to you and other ways to help you get more for your money. The choice of credit cards in your wallet will be related to the benefits and bonuses of the category. we focus on the majority. What credit card do you use for everyday spending? If you’re not careful, you’ll miss out on tons of rewards when you use credit cards for everyday purchases. I recently applied for the Alliant Cashback Visa Signature Card, and I think it might be the best option for me at no extra cost.
While you may not have heard of this cash back credit card, here are five reasons why you should apply:
Your brain is busy thinking about many things, the last thing you want to keep track of is the next set of bonuses in the category. With the Alliant Cashback Visa Signature Card, you don’t have to worry. During the first year, every purchase will earn 3% cash back.
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Some credit cards that offer higher cash back rates, such as Chase Freedom or Discover it, limit the amount of cash back you can earn each year.
The Alliant Cashback Card allows you to earn an unlimited amount of 3% in the first year after approval. Then you’ll continue to earn unlimited 2.50% cash back for as long as you have the credit card.
When applying for a new credit card, I’m not afraid to pay the annual fee if I get great benefits. The main benefit of the Alliant Cashback credit card is 3% cash back in the first year and 2.5% in the future.
There are many great credit cards out there, but these cards are concentrated in a limited number of banks. As you know, it’s a good idea to diversify your applications from the big banks to avoid their restrictions, such as Chase 5/24, Amex’s one-time bonus, and Citi’s 24-month rules.
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Some credit cards in your wallet may already offer these benefits, so you may think it’s not worth it.
As great as this credit card is, it has some drawbacks that you should be aware of. There’s no sign-up bonus, and the annual fee cancels out the 2.5% cash back for low spenders.
In our world, we love getting sign-up bonuses when we apply for a new credit card. Unfortunately, the Alliant Cashback Visa Signature Card does not have a sign-up bonus.
Instead, the extra 0.50% cashback is 20% less than the standard cashback rates you’ll earn in the second year and beyond. With multiple sign-up bonuses of at least $500, you’d need to spend $100,000 to earn that much extra cash on the Alliant Cashback card.
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Even big spenders can struggle to spend $100,000 on non-core purchases with a single credit card. That’s just over $8,300 a month for the first year.
There are some great credit cards that offer 2% cash back with no annual fee. One of my favorite Citi DoubleCash cards I’ve had for years.
There is no annual fee for the first year, so you have a year to figure out your costs. After the first year with a $95 annual fee, cardholders need to spend at least $19,000 (or nearly $1,600 per month) to break even on the annual fee compared to a no-fee credit card with 2% cash back.
The Alliant Cashback Visa Signature Card is a great credit card for everyday spending. In some cases, you’ll earn more rewards with the Alliant card than you spend on some reward categories of other cards. In the first year, this credit card is absolutely useless. After the first year, you’ll need to carefully analyze your spending to see if the volume of your purchases offsets the annual fee compared to the 2% free rewards card.
Alliant Credit Union
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