2.5% Cash Back Credit Card

Cash back credit cards are a popular choice among consumers seeking to maximize their spending rewards. These cards offer cash back on purchases made with the card, providing a straightforward and flexible way to earn rewards. One such cash back credit card is offered by Alliant Credit Union, known for its competitive rewards program and additional benefits.

The Alliant Cashback Visa® Signature Credit Card is particularly appealing for travelers due to its lack of foreign transaction fees and its array of travel perks, including emergency card replacement, travel accident coverage, roadside assistance, and auto rental collision damage waiver.

• Annual Fee: $0
• Intro APR: None
• Balance Transfer Fee: 3%
• Regular APR: Variable, 17.49% to 27.49%
• Foreign Transaction Fee: None
• Credit Needed: N/A

Earn 2.5% cash back on your first $10,000 of qualifying purchases

Alliant Cashback Visa® Signature Credit Card:

The Alliant Cashback Visa® Signature Credit Card offers cardholders the choice between two distinct cash-back rates, making it a compelling option for those seeking to maximize their rewards. With no annual fee, the card provides either a competitive 1.5% or an outstanding 2.5% cash back rate, depending on the level of effort the cardholder is willing to invest.

To qualify for the higher cash back rate of 2.5%, cardholders must complete a series of steps, including joining Alliant Credit Union, opening an Alliant High-Rate Checking account, opting in to electronic statements, making a monthly deposit into the account, and maintaining an average daily balance of $1,000 or more. While this may require additional effort, the potential rewards can be significant.

Alliant Cashback Details :

• Card Type: Cash back.
• Annual Fee: $0.
• Sign-up Bonus: None.

2.5% Cash Back: Rewards

• Earn this rate on up to $10,000 of eligible purchases per billing cycle if you maintain an average daily balance of $1,000 or more in an Alliant High-Rate Checking account during the previous month.
• 1.5% Cash Back: Earn this rate on all other purchases that don’t qualify for the elevated cash-back rate.

Eligiblity of Alliant Cash Credit Card:

Eligibility Requirements for the Alliant Cashback Visa® Signature Credit Card

Membership with Alliant Credit Union:

• Individuals must first become members of Alliant Credit Union to be eligible for the card.
• Membership can be obtained by opening an account with Alliant Bank.
• Alternatively, individuals who do not meet eligibility criteria based on location, occupation, or family ties can join Alliant for free by supporting Alliant’s partner charity, Foster Care to Success.
• Alliant covers the $5 membership fee on behalf of the applicant in this case.

Alliant High-Rate Checking Account:

• Applicants must open an Alliant High-Rate Checking account, which does not have a monthly service fee and can be opened for free.
• To qualify, individuals need to become members of Alliant Credit Union.

Opt-In to Electronic Statements:

• Applicants must opt-in to receive electronic statements for their Alliant High-Rate Checking account.

Monthly Deposits:

• Ensure that there is at least one monthly deposit made into the Alliant High-Rate Checking account.
• Eligible deposits include direct deposits, payroll deposits, ATM deposits, mobile check deposits, or transfers from other financial institutions.

Maintain Minimum Balance:

• Maintain an average daily balance of $1,000 or more in the Alliant High-Rate Checking account to qualify for the highest cash back rate.

Redemption:

Rewards can be redeemed for statement credit or deposited into an Alliant checking or savings account. A minimum of $50 in cash-back rewards is required for redemption.

• APR: The ongoing APR is 17.24%-27.24% Variable APR.
• Foreign Transaction Fee: None.
• Balance Transfer Fee: 3%.

Pros and Cons:

Pros:

• No annual fee
• High rewards rate
• Cash rewards
• No foreign transaction fee

Cons:

• No bonus offer
• Must be a member of Alliant Credit Union
• No bonus categories

How to Earn 2.5% Lucrative Cash Back?

If you’re aiming for potentially lucrative rewards, the Alliant Cashback Visa® Signature Credit Card could be your ticket to earning big. With a remarkable cash-back rate of 2.5% on up to $10,000 in spending per billing cycle, you have the opportunity to pocket up to $250 in cash back every month and up to $3,000 annually. This rate surpasses most other flat-rate cards, whether they have an annual fee or not, as they typically max out at 2%.

However, unlocking this impressive rate requires meeting a few prerequisites:

• Open an Alliant High-Rate Checking account, which comes with no monthly service fee and can be opened for free. To qualify, you’ll need to become a member of Alliant Credit Union.

• Opt in to electronic statements for your account.

• Ensure that you have at least one monthly deposit made into the account. Eligible deposits include direct deposits, payroll deposits, ATM deposits, mobile check deposits, or transfers from other financial institutions.

• Maintain an average daily balance of $1,000 or more in your Alliant High-Rate Checking account.

If keeping up with these requirements seems daunting, don’t worry—you’ll still enjoy a respectable 1.5% cash-back rate on all purchases, ensuring that you earn rewards no matter what.

Drawback of Alliant Cashback Visa® Signature Credit Card:

• Membership Requirement: To apply for the card, you must be a member of Alliant Credit Union. However, membership is relatively easy to obtain.

• Complex Requirements for Top Rewards: Achieving the highest cash back rate requires maintaining specific account balances and meeting other criteria.

• No Sign-Up Bonus: Unlike some other cards, this one does not offer a sign-up bonus to new cardholders.

• Rewards Expiration: Cash back rewards expire in December of the fourth calendar year following the year they were earned, which may not suit all cardholders’ preferences.

Bottom Line:

The Alliant Cashback Visa® Signature Credit Card offers a remarkable rewards rate of 2.5%, making it one of the most lucrative options on the market. However, to unlock this exceptional rate, cardholders must fulfill certain requirements. For those unable to meet these criteria, the base rewards rate of 1.5% still presents a decent earning opportunity, though alternative cards may offer more competitive rates.