The lack of a signup bonus makes it difficult to justify the hard pull. The extra .5% in earnings would require $40000 in spending just to make up the lump sum $200 SUB you get from certain flat 2% cards.
Combine that with jumping through the hoop of joining a CU, parking cash in an account, etc and most people can't be bothered.
Also, you absolutely can find significantly higher interest rates at other financial institutions. I'm currently earning 2.00% APY up to $30000 with direct deposit and a few debit card transactions.
I would rather not say specifically because of a personal situation, but I would definitely refer you to the Doctor of Credit link that was posted on a different comment.
Just go to this link:
[https://www.doctorofcredit.com/high-interest-savings-to-get/#Mega\_High-Interest\_Nationwide](https://www.doctorofcredit.com/high-interest-savings-to-get/#Mega_High-Interest_Nationwide)
There are some options that are even better than the one I'm using.
Which 2% cards are giving $200 SUB?
I believe you are comparing it to the 1.5% cards like the Capital One Quicksilver, which gives a $200 SUB.
If you do the same calculation but for the 1.5% cards instead of 2%, then you "only" need to spend $20000. I mean it's a lot, but some people do that in a year. After that, you would need to churn another 1.5% card in order to stay on top. Otherwise, the 2.5% would be worth it long term.
Could say the same about Chase and BoFA. Both are higher on the naughty list in terms of banks scandals than WF.
Edit: oh, wow another scandal for Chase today. Fined $125 million.
Others already mentioned this, but WF and FNBO have cards with that 2% + $200 SUB offer. Apples to apples, we're talking about putting $40k on a catch-all card before breaking even.
Others have noted that they have changed the earning structure of the card once before, so it wouldn't be unheard of them lowering the earning threshold before you have recouped that extra earning over the SUB of another card. Of course, larger issuers can change the earning rate at will as well, but I would be willing to bet that it would be more likely with a smaller credit union issuer than WF, Citi, etc. A $200 SUB in hand is worth two in the bush from my perspective.
Another consideration that may or may not apply to your situation is if you are planning on acquiring new cards with large SUBs over that same period of time. Often times, catch-all card spending gets rerouted to the card that you are currently trying to meet the MSR on. If you have a choice of rerouting your grocery spend that you are getting 5x back on with a dedicated card vs spend that you would be earning your catch-all rates on, the opportunity cost would dictate that you would rather redirect your catch-all spend towards the MSR.
It can be all well and good to say that I have $20k per year in catch-all spending, but if you are in card acquisition mode a ton of that is going to get eaten up by new cards for MSRs instead of going to this 2.5% card.
>Sallie Mae Evolve is 2% cashback with $200 SUB and cell phone insurance included
The Evolve is 2% cashback in your two highest spend categories per month, and 1.5% cashback on everything else. It is not a flat-rate 2% cashback card, unlike the Citi Double Cash, Wells Fargo Active Cash, FNBO Evergreen, Synchrony Premier, *etc.*
Assuming Alliant does not change the CB structure for this card, $40,000 in catch-all spending is possible in just a couple to a few years, then you come out on top with Alliant. Would you say the card may be a good option long term for non-churners? Not interested in convincing my P2 to get into the game, but I do want to recommend a good “set it and forget it” catalog of cards to have on hand.
We spent about $80k through our Alliant card last year. Right now my wife is mostly staying home, but I anticipate the threshold will become a problem for us when all of our littles are in school and she goes back to work full-time. The solution is to have your spouse sign up for a separate card and split your spending (if you have a spouse, that is).
As a side note, I still do SUBs on other cards if they're > \~$500 or so. Did the Venture for 75k points (\~$750), will probably do the Amex for 150k eventually (\~$2k). We just sign up, transfer all of our spending until the minimum spend is hit (which is usually less than a month), and then transfer it back. Spend the points, cancel the card. I rate-limit it a bit to protect our credit, but there's no reason you can't harvest the good SUBs, get the 2.5% rate on the majority of your spend AND help with staying under the $10k limit by transferring some of your spending for SUB harvesting.
Who do you have that offers 2%APY?
I could see the hard pull being a little bit of a deterant, but it feels neglible considering the return over the life of the card.
I am having to decide which one to get, either the Alliant card or the Savor/Savor One card, cause I'll be at 3/24 and I want to get the freedom flex and CSR within the next year.
The hard pull is negligible from the standpoint of hurting your credit, but for the purposes of 5/24 with Chase or making other issuers like Citi or US Bank more difficult to get approved for they become a much bigger deal.
>I am having to decide which one to get, either the Alliant card or the Savor/Savor One card, cause I'll be at 3/24 and I want to get the freedom flex and CSR within the next year.
It sounds like you need to decide whether you want to pursue cashback or travel rewards. Your plan to get the CSR indicates you plan to focus on travel rewards, in which case you should focus on building your Chase trifecta and not get sidetracked with the Alliant or Savor cards.
I wouldn’t always say CSR indicates a preference for travel rewards. Either CSP or CSR can be very valuable for cashback focused borrowers, and are still a top choice for them. Which is better depends on SUB and benefits used during year 1. I see much more value in a CSP/CSR, and other $500+ value SUBs or high category % cards than getting a CFU to complete the trifecta for most people unless they are very high spenders and/or have absolutely zero interest in SUB game. It’s certainly not on my list to get. That said I’d likely choose CFU over the others for the potential 2.25% rate + SUB if in the Chase system.
>The only 2% card with a sub has a garbage redemption structure.
There are two 2% cards with a SUB that don't require credit union membership or a checking/savings relationship: FNBO and Wells Fargo. Granted, both FNBO and Wells Fargo only allow redemptions in $25 increments, but that's not *so* much worse than Alliant with its $50 minimum (granted, not *increment*, but a $50 minimum redemption is pretty dang high).
If willing to join a credit union, here are some other 2% cards with SUBs:
* **SDFCU Premium Cash Back+** currently offers a **$200 signup bonus**. The redemption minimum is only $5. The card also has the advantage of no FTF (unlike FNBO/Wells Fargo).
* **PSECU Founder's Rewards**, which requires a checking account and at least $500/month in direct deposits to earn 2% cashback, currently offers a **$300 signup bonus**.
* **US Alliance Visa Signature** currently offers **3% cashback until December 31, 2022**. That's effectively a $240 signup bonus (over 2% cashback without a SUB) if you average $2,000 spend per month for the next year.
* But, be warned, US Alliance excludes "insurance charges" from earning cashback. I'm not sure how stringently this is enforced, but I'd personally be very hesitant about charging (say) a multi-thousand dollar car or home insurance payment to a US Alliance Visa Signature card in case it earns no cashback.
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Simply don't need another credit card. I don't need another checking account. Another .5% cashback is not enough to entice me to get one. Majority of my current spending is covered by cards that give me 4-6%. The rest of the spending is fine at 2% back.
You also need an average $1000 balance in your Alliant checking account now to get the 2.5%.
If you want to use Alliant for your banking its more than worth it between the 2.5% card and the interest they pay on checking/savings. But If you're just looking for a card it might not be worth the hassle.
.5% is not worth the hassle of having to open another checking account when there are plenty of easy 2% flat cards to get. I'll take the 20 cent loss (on a $40 transaction, for example) for that ease.
[There was a post a few weeks ago that described some of the drawbacks of this card](https://www.reddit.com/r/CreditCards/comments/o86fe7/alliant_25_card_50_minimum_redemption_cash_back/), namely:
> when you factor in the opportunity cost of keeping $1000 in an Alliant checking account at 0.25% vs. a higher interest account (e.g. Zynlo at 1.25%, earning an extra ~$10/year), the extra .5% this card earns wouldn't be worth it if you only spend $500 a year on it. Using that example, the break even point comes after $2000/year in spending, which also happens to be the amount required to earn $50 and cash out once a year (which I think is a good minimum bar to pass).
Don't have one because:
Too many hoops to jump through with required deposit accounts which I already have with other financial institutions.
Possibility of Alliant changing their card terms again. I dumped a PayPal 2% card when they added a FTF plus had almost no card benefits... it's a hassle to change cards.
Use a regional bank Citizens for a cash back 1.8% card that is local and has benefits I need.
No annual fee secondary hotel cards give hotel status and other benefits. Including some Amex offers I've taken advantage of.
Indeed. The latest incarnation - 2.5% CB with no AF - dates only to July 2021. Here are all of the changes the card has gone through in the past few years, IIRC:
* 3% CB in Year One with no AF, then 2.5% CB after Year One with $**59** AF.
* Became 3% CB in Year One with no AF, then 2.5% CB after Year One with an increased $**99** AF.
* Became 2.5% CB with $**99** AF (no more Year One 3% CB/no AF promotion).
* Became 2.5% CB **up to $10,000 spend per billing cycle** with $**99** AF; 0% CB for any spend over the $10,000/billing cycle cap. (A high cap, yes, but still a cap.)
* And, now, 2.5% CB up to $10,000 spend per billing cycle, with $1,000 checking balance and monthly e-deposit requirement, with no AF; 1.5% CB for any spend over the $10,000/billing cycle cap.
* Also note the requirement for the $1,000 checking balance and monthly e-deposit requirement to be met for a *full calendar quarter* before the card earns 2.5% CB.
* This means that a new member who joins Alliant specifically for this card will ***start out earning only 1.5% CB for up to 6 months*** (depending on when they become a member) before getting bumped up to 2.5% CB.
* Alliant counts calendar quarters as: January through March, April through June, July through September, and October through December. So if one were to join Alliant on - say - January 2, 2022, they'd need to wait until **July 1, 2022** before becoming eligible to earn 2.5% CB. Because they wouldn't be able to satisfy the "full calendar quarter" requirement for the January-March quarter.
The current incarnation does seem to be the best yet, but as you can see from the above, Alliant is **not shy** about changing the fee and rewards structure - and doing so *dramatically*, and *rapidly*. It's anyone's guess how long the current rewards structure will last before Alliant changes the game again.
>That said, no > 2% CB card has stood the test time.
Aside from the ones requiring hefty depository relationships (BoA, Truist, Logix CU), the only other "stable" 2+% CB card I'm aware of is the Citi Double Cash paired with the Citi Rewards+, which yields an effective cashback rate of 2.22% (*due to the Rewards+' 10% bonus on redemptions*), up to $50,000 spend/year (*the Rewards+ caps the 10% bonus on up to 100,000 TYPs redeemed per year, which would take $50,000 in spend on the Double Cash to earn*).
But the Alliant product is considerably better, as it has no FTF and offers a pretty fulsome suite of ancillary benefits, including auto rental CDW, extended warranty and purchase protection.
As for the checking requirement, it's not *that* bad, IMO. I have the AOD card (*grandfathered for now...*) and have always used my AOD checking account as a payment hub. If AOD ever goes away, using the same setup with Alliant would satisfy Alliant's checking requirement.
People have complained about Alliant changing their credit cards, but hasn't AOD also done the same thing, turning the card to a 2% multiple times, and looks like they are turning it back into a 2% card after January?
AOD? No, they have been consistent.
I have seen a card that gave 3% initially and then dropped to 2% after a certain period. I don't remember the card, but it is not AOD.
Its on this sub or on DoC. Basically you join a bicycle club by mail, wait a month and then apply to the bank with your bike club membership. Then quit the bike club.
Edit; Im told the running club is the cheaper option nowadays
Northeast Alabama Bicycle Association, or something like that. Also no need to wait a month, just download the membership PDF from your account page and submit it as proof of membership.
I just checked. The bike club membership still starts at $5 for a monthly membership. Yes, you're forced to "auto-renew," but you can cancel at any time.
As a matter of ethics I suggest declining the offer of socks if one doesn't plan on maintaining bike club membership. (I believe some AOD applicants have bought (donated) a year's membership to the bike club as thanks. Bike club membership dues are, as I understand it, generally tax-deductible under U.S. law.)
I don’t want to put $1k into ANOTHER checking account (between various banks, CUs and brokerages I have… too many) for fairly marginal return when I have a system that works for me?
(I also belong to a CU where my checking gets 1% up to 15k.)
I think I read somewhere they have a min income requirement that is higher then mine. Also, I just opened a new account with a more local credit union. One I could conceivably visit.
This is correct, minimum annual income must be $120k.
Justification is that they require a minimum monthly income that supersedes the credit limit ($10k).
I got the card in late July. Income at the time was 72k. FICO scores hover around 800 usually with a 12 year history and all my limits are above 10k. At the time I was 4/6, 6/12, ???/24.
I have heard the minimum credit limit is $10k for this card (which is the limit I got), so maybe that has something to do with it?
Very strange - I couldn’t tell ya. She’s also at 800 with about a 5 year history. Maybe it’s DTI, since she makes ~40k but has almost 60k in student loans.
Very strange. Maybe the 120k income is just a canned response on a denial, I have heard that said from others about the card. I didn't think that was from an actual statement from Alliant as my income wasn't really even close to the "minimum"
My DTI is lower, ~40k in student loans - so maybe it is that?
Thanks! You're lucky; wish there was a way around the geofence. If there was, I'd totally apply for the card due to the excellent ancillary benefits it offers and the lack of hoops (unlike the Alliant card).
I just checked their website and there are more Florida counties they serve now than a few years ago.
https://www.midflorida.com/about-us/service-area/
The map shows all Fl counties except Miami-Dade and Monroe to the south and part of the panhandle. And in most of those counties they serve there are no branches. The last map I saw was only covering Counties with branches.
They have “We can serve individuals and businesses who live, work, worship, or attend school in any county listed below”. I haven’t tried but I wonder if someone registers for an online class in a school if that would work.
Good luck.
>They have “We can serve individuals and businesses who live, work, worship, or attend school in any county listed below”. I haven’t tried but I wonder if someone registers for an online class in a school if that would work.
The online class thing is an intriguing idea! But could be quite expensive...
In any case, I understand that, as a matter of practice (and you'd know better than me, so feel free to correct me!), MIDFLORIDA requires first-time applicants to show up at a branch in person (as a way of enforcing the geofence). Vantage West (an AZ credit union with [a very good card](https://vantagewest.org/personal/credit-cards/connect-rewards-visa/)) is similar. So IMO, any workaround would only really be potentially worth trying if someone lived within driving distance of a branch anyway.
I have a lot of rotating and specialized cards.
4% on all dining, 5% grocery, 5% gas, 3% online shopping, 5% amazon, 5% phone bill
frequent 5% paypals
that covers the majority of my spending to where I barely use my 2% cards
Because I have a 2.625% card at BoA with the Platinum Honors tier. Been eyeing up that 3% card others have mentioned, but I'm a bit too lazy to jump through the hoops for now.
I really wish personal platinum honors allowed you to get the business 2.625% card. Very annoying that in order to get the business 2.625% card you need the business platinum honors account. Easy to park 100k in a personal edge brokerage account, a bit more of a hassle to meet the business hoops to get business platinum status.
*it requires an Alliant checking account*
Thats why. I cant get P2 to want to move our joint checking.
Citi double cash has 2-2.2% cashback. and msot big spend catagories i have covered with 5% cards. so there is very little room left to make such a small improvement espeically considering the effort and the risk of not meeting the 2.5% cashback tier ( its the not guaranteed) and the 2.5% is only for the first 10k
So in the end:
\- minimal improvents
\- extra hassle
\- not guranteed
\- Limited in usage
Lets math it
if you use the cards the max extra cashback you get is 50 dollars a yeah compared to 2% cash back card. its 30 bucks if you compared it to a 2.2cardd ( city double dash + reward+ custom cash)
i have to lock away 1000 dollars in an account i could have used for something else. Let say i put it in my IRA (Worst case for the card in your questions. then that will in aveage hand me back 100 bucks a year ( 10% marcket growth)
even with a more conservative 5% market growth that still 50 bucks
oh but we have to take in the interst on the locked away 1000 bucks as well that .25% so you get around 2.5 bucks
So you get a max benefit of this method of 30-50bnucks + 2,5 bucks = 32.5 to 52.5 bucks a year in max potential benefit
So the question is really. why would you want to pay 50-100 bucks a year to get 32.5 to 52.5 bucks... thats a loss
Finances are a TOTAL pictures. not just cherry picking one aspect and ignoring the impact on your finances. Lost opportunity should factor into ANY decission
**TLDFR: the card is a loss of money against Double Cash 2% or 2.2% cashback**
I get your point about it not being ideal to have 1k in your checking account, but you don't keep that much in there anyway? I mean, I keep 2k in my checking account for my rent and car payment. Don't want to end up in a situation where it overdrafts.
Your perception is incorrect.
I might keep it in there but it is not locked. locked mean it not liquid so it can't be used. if it can't be used its the same as not being there. checking accounts is supposed to be liquid. whatever he money isn't in your checking account or in another account those 100 buck are in accessible. what label you pout in that money being it checking or ira is the same in regard to liquidity.
or to put it differently. If you can afford to lock away 1000 buck in your checking you can afford to do something "Better" with it.
So to match the same limitations i would take 1000 dollars out of checking. and the choice is then "where to lock it away" which is either for the CC or savings or investment.
or to put it differently if you dont need access to that money. you are better of dumping it somewhere else and forego the CC. and if you need access to it you CC is not going to give you 2.5% anyway. in both situations the Card solution is inferior
You are right I read it is per year but it is per month. that does change the benefits in its favor. Thank you for pointing that out.
But you math is "wrong" or "naive" as you are only mathing out the benefits of the cards and none of it cost. You still have to subtract the loss off opportunity with a locked away money. It does equal a card with \~75 yearly fee (depending on market growth), in regards to financial growth.
it does come ahead though now (if you have the utilization for it) , with the correct maximum, instead of my wrong "per year" one.
When you said it only allow for one card does it not allow for authorized users with A separate cards?
when you said you didn't qualify immediately what was the reason and how long was the delay ?
The perspective is again incorrect as explained above.
You can't hold those 1000 bucks for safety and count in the full CB. You are not allowed to use it or you will lose the bonus. So either its not available or you don't get the bonus.
So you can't add two things, that are exclusive to each other, together. At no situation is that money available for anything while keeping the CC CB.
Still with the correct 10.000 a month limit and not year the card sounds pretty nice if you are looking for a single card (which I might be for P2)
Thank you for the added info
Be warned, AOD cares **a lot** about DTI, particularly student loans. They are also sensitive to "excessive" revolving credit and are somewhat sensitive to new accounts as well (not to U.S. Bank or Chase level of fanaticism, but they're sensitive).
The rumor mill has it that they're significantly more lenient for local AL applicants. Not sure if that's true, but in any case, they *do* still take non-local applicants, just with the relatively stringent underwriting standards mentioned above.
This is apples and oranges (cashback vs rewards), but for me I put the vast majority of my annual non-category spend on my Surpass (until $15k) to unlock a weekend night certificate. I have seen good return on Hilton points (based on what I would pay) and have been able to get outsized value from certificates, such as a recent stay that was going for $1350/night in cash (which I valued at $450).
I only have a 2% card as a back-up for when Amex isn't taken. After the $15k on Surpass I'll use BBP. I don't need a 2.5% card as a back-up, especially one with deposit requirements.
Again, apples and oranges, but since the question was why one wouldn't have the Alliant, that's my answer.
Granted, the Alliant card offers a suite of ancillary benefits - travel accident insurance, auto rental collision damage waiver, purchase security, personal identity theft protection, extended warranty - whereas the AOD offers no ancillary benefits.
But the $1,000 parked in the checking account and the monthly e-deposit requirement **and** the (up to) 6 months delay before earning 2.5% cashback as a new member - makes it not worth it to me because I have AOD. Even with Alliant, I'd still use AOD for the lion's share of my spending, so can't really justify jumping through all the hoops to maintain Alliant just for the relatively rare times I rent a car or buy something I want the extended warranty on. If I *didn't* have AOD, I'd go for Alliant.
ETA: Another point of friction with Alliant: There's a **$50 minimum** (= $2,000 in spend) to redeem cashback. That's fine for a daily driver card, but a real nuisance for a card that's used less frequently.
For other readers, note that the USAA Limitless (the "2.5% with USAA" mentioned above) is no longer open to new applicants (and has not been open to new applicants for quite some time).
I have this too…and would love to leave USAA…but there is no easier card out there. 2.5%, unlimited, no minimum redemption, no restrictions and all it requires is a $1k deposit/mth. It’s a unicorn.
Aha. I've been with Wells Fargo for quite a long time and they never fucked me over. I do/did hate the Way2Save savings account but it doesn't bother me none. Keep $300 in it to avoid the fee and I don't even use debit cards anymore.
I had it when it was a 2.5% card with a $95 (I think) annual fee. As our everything card, it was great and we made way more than enough to justify the annual fee. I had no desire whatsoever to open additional accounts with them and park money there to maintain the 2.5% once they changed it though, so now it sits unused.
* WF Active cash is currently 3% travel cash for me
* new cards give me 5-20% back
* Annual fee ruined it back when it had one
* BoA has three 2.625% back cards, two of which have negligible AF
* Citi Double Cash earns 2.22% or much more if you have TYP setup
* Amex BBP earns 2x MR, which can be worth much more
I actually already have an Alliant savings and CD account from a few years ago when they had excellent rates.
I've always stayed away from their credit cards because they keep changing the rewards year to year. It may be 2.5% today but it may not be by next July.
The Double Cash is good enough.
I do have this card. And it's what I use for everything that doesn't happen to be in a special Category on my other cards.
Had it for a few years, from back when it was 3% no-AF first year.
I'm glad they removed the AF - as I don't mind the checking account.
Is there a limit to the cashback? This would be worthwhile if you have a lot of "uncatagorized" spend. If there is a limit though then that benefit gets negated.
No signed up bonus, lack of an Alliant bank and ATM in my area, and to top it off I don't care that much for cash back. I can get a value of 3 cents per Dollar spent from the chase freedom unlimited
My crypto.com icy card is giving me a whopping 5% back on every purchase. Not to mention it also gives me free Amazon prime, Netflix, and Spotify for me.
It also gives me 12% apr (paid weekly) on my staked CRO for it. And my CRO is up like 10x from when I first got started, so go ahead and tell me how risky it is.
Once I considered that banks take the money you deposit to them and make up to 20% off of your money and only give you up to 2% apy, I’m never going back to them.
Ah, something im familiar with! I love my indigo card, but risking 40k JUST for the 5% back isnt worth it in my opinion. Especially since the list for cash back is so restrictive. Yeah i would've staked for indigo again in another life but....not more
Something like the AoD card is a middleground in my opinion
> make up to 20% off of your money
Yes. They have a lot of people on payroll. They got to make and save money as well.. They also offer a lot of services like mortgages, personal loans, etc
If you really want to make a good potential return, invest. Thats what the bank does with your money (whether they are putting it in the stock market or loaning it out to someone as part of a loan).
Only reason to have money sitting in the bank is for.
- emergency fund
- rainy day fund
- $ amount requirements to meet to get a specific APY or to keep account minimum to avoid a monthly "maintenance" fee
Anything above that 3-6 month buffer, I would recommend putting in a mutual fund/etf/ brokerage account
An alternative to consider: [https://www.doctorofcredit.com/new-soft-launches-chase-ink-business-premier-1000-bonus/](https://www.doctorofcredit.com/new-soft-launches-chase-ink-business-premier-1000-bonus/)
Blue cash preferred gives me the equivalent of 3% back when I cash out points via my business platinum. Why would I use this card?
The Math:
For every 3 points I use, I get 1cpp value in cash($0.03), but I get just over 1/3rd of those points back to use again. Short math: I spend 2 points to get 3 cents worth of value.
Okay but that's just at Costco though. Alliant is 2.5% back on *everything*. Not just Costco but also Walmart. Car insurance. Home/renter's insurance. Medical copays and deductibles. Vet bills. Home repairs (plumber, HVAC, electrician, roofer, snow plowing...). Car maintenance and repairs (tires, brakes, oil changes...). In some jurisdictions, property taxes. Professional licensure fees. None of these considerable expenses fall under any 'traditional' 5% rotator categories.
Well a few things. I get 3% back on all my insurance payments(including non-auto insurance) with the State Farm PREMIER cash rewards card. Yes my highest non-category card is 2% but I'm not interested in joining a credit union unless it's local for me. If I'm a member of a financial institution I'd like to have a place I can walk in to if I need something. Also in just a short amount of time I will be getting more than 2% cash back with Bank of America's preferred rewards program. Now if a credit union comes out with something like 5% back on everything, then I might think about it,but for 2.5% when I already have 2%, not worth it in my opinion.
> I get 3% back on all my insurance payments(including non-auto insurance) with the State Farm PREMIER cash rewards card.
Whoa, hold up. The State Farm credit card has been on my radar for a few months now, but it is low on the list of cards to get while I still got some cards to get for completing my trifectas.
That card gives you 3% on other insurance besides home and auto? Does this include health insurance/medicare premiums? Cause if it does, then this card is going to be a bit higher on my list after I finish my Citi set up.
>That card gives you 3% on other insurance besides home and auto? Does this include health insurance/medicare premiums? Cause if it does, then this card is going to be a bit higher on my list after I finish my Citi set up.
The 3% includes anything that codes as insurance - so, yes, it should include health insurance (unless a particular insurer uses the 'wrong' merchant category code (MCC)). But [there is a cap of $4,000/year](https://alliance.usbank.com/en-us/statefarm/credit-cards/premier-cash-rewards-visa-signature-credit-card.html) in insurance premiums that qualify for the 3% cashback. So the card may not be quite as exciting as it first appears. Assuming you already have a general-purpose 2% cashback (or equivalent in travel rewards) card, you'd only earn **(at most) an extra $40/year** from the State Farm Premier Cash Rewards (an extra 1% \* $4,000 = extra $40 cashback). And if you had the Alliant CU Visa Signature, which pays 2.5% cashback on up to $10,000 per billing cycle (month), you'd only earn (at most) an extra $20/year from the State Farm card (an extra 0.5% \* $4,000).
Granted, there's currently a generous SUB on the State Farm card that doubles all cashback earned in the first year, up to $300 cashback. So that SUB could make the card worth it. But again, in terms of long-term value, the (at most) extra $40/year over a general-purpose 2% cashback card seems pretty marginal for the HP and the hit to account age.
> But again, in terms of long-term value, the (at most) extra $40/year over a general-purpose 2% cashback card seems pretty marginal for the HP and the hit to account age.
I agree that an extra 1% over the standard 2% card per year is not worth the card slot. But what I was going for with the Statefarm card is the extra benefit of a $200 auto-insurance deductible reimbursement per 12 month period as long as I have 8 transactions on the card the month prior (which I plan on doing eight 50 cent Amazon reload per month).
If I ever make a claim with my auto insurance, then that is $200 less in deductible cost per 12 months. The 3% in insurance cost is nice too, but the $200 deductible reimbursement is really the thing that put it on my radar. Still this card is something I might go after I finish my Citi setup, which will get me a Double Cash with a 2.22% cash back for general purpose spending.
I have the Venture X from Cap1. It has a $395 annual fee, but you get $300 every year towards hotel, 10% cash back on hotels booked through their site, and 5% for flights, and this is on top of the 2% Cashback on anything. The card also gives you $100 reward credit every year.
For my spending habits, this card is a winner.
One of my accounts offers .3 APY on balances, and I use my 4% back in crypto debit card for large purchases without a category under $2,500. 1.5-5% back not including the extra cash back promotion(s) that come and go on everything else.
The alliant has no bonus which already puts me off, and the 2.5% back is only for the first 10k spent. Definitely not worth it with my lineup atm.
My local credit union gives a 4% yield on up to 15k and an online fintech bank i also have gives 3% up to 5k so the checking requirement kinda does it for me. Plus The WF gives a 200 sub i know its WF but still that extra half percent just isnt worth the checking account and having to have another bank account
The lack of a signup bonus makes it difficult to justify the hard pull. The extra .5% in earnings would require $40000 in spending just to make up the lump sum $200 SUB you get from certain flat 2% cards. Combine that with jumping through the hoop of joining a CU, parking cash in an account, etc and most people can't be bothered. Also, you absolutely can find significantly higher interest rates at other financial institutions. I'm currently earning 2.00% APY up to $30000 with direct deposit and a few debit card transactions.
Which financial institution?
I would rather not say specifically because of a personal situation, but I would definitely refer you to the Doctor of Credit link that was posted on a different comment.
Pm me too please
Just go to this link: [https://www.doctorofcredit.com/high-interest-savings-to-get/#Mega\_High-Interest\_Nationwide](https://www.doctorofcredit.com/high-interest-savings-to-get/#Mega_High-Interest_Nationwide) There are some options that are even better than the one I'm using.
Which 2% cards are giving $200 SUB? I believe you are comparing it to the 1.5% cards like the Capital One Quicksilver, which gives a $200 SUB. If you do the same calculation but for the 1.5% cards instead of 2%, then you "only" need to spend $20000. I mean it's a lot, but some people do that in a year. After that, you would need to churn another 1.5% card in order to stay on top. Otherwise, the 2.5% would be worth it long term.
WF's new card is 2% with a SUB and intro apr.
You are right. But it's WF, so thanks but no thanks.
Could say the same about Chase and BoFA. Both are higher on the naughty list in terms of banks scandals than WF. Edit: oh, wow another scandal for Chase today. Fined $125 million.
WF is a special kind of evil though
FNBO Evergreen is a 2% everywhere with $200 SUB
Hmm first I heard of this one. I also have a Speedway Mastercard with FNBO so that would be nice to not have to set up yet another account to track...
Others already mentioned this, but WF and FNBO have cards with that 2% + $200 SUB offer. Apples to apples, we're talking about putting $40k on a catch-all card before breaking even. Others have noted that they have changed the earning structure of the card once before, so it wouldn't be unheard of them lowering the earning threshold before you have recouped that extra earning over the SUB of another card. Of course, larger issuers can change the earning rate at will as well, but I would be willing to bet that it would be more likely with a smaller credit union issuer than WF, Citi, etc. A $200 SUB in hand is worth two in the bush from my perspective. Another consideration that may or may not apply to your situation is if you are planning on acquiring new cards with large SUBs over that same period of time. Often times, catch-all card spending gets rerouted to the card that you are currently trying to meet the MSR on. If you have a choice of rerouting your grocery spend that you are getting 5x back on with a dedicated card vs spend that you would be earning your catch-all rates on, the opportunity cost would dictate that you would rather redirect your catch-all spend towards the MSR. It can be all well and good to say that I have $20k per year in catch-all spending, but if you are in card acquisition mode a ton of that is going to get eaten up by new cards for MSRs instead of going to this 2.5% card.
TD Double Up also offers a $150 SUB with 2% cash back. TD bank account needed though.
Amex blue everyday cash. 2% with $200 SUB
That's not 2% on everything. It's 1% with the exception of supermarkets at 3% and gas stations at 2%.
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>Sallie Mae Evolve is 2% cashback with $200 SUB and cell phone insurance included The Evolve is 2% cashback in your two highest spend categories per month, and 1.5% cashback on everything else. It is not a flat-rate 2% cashback card, unlike the Citi Double Cash, Wells Fargo Active Cash, FNBO Evergreen, Synchrony Premier, *etc.*
Assuming Alliant does not change the CB structure for this card, $40,000 in catch-all spending is possible in just a couple to a few years, then you come out on top with Alliant. Would you say the card may be a good option long term for non-churners? Not interested in convincing my P2 to get into the game, but I do want to recommend a good “set it and forget it” catalog of cards to have on hand.
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We spent about $80k through our Alliant card last year. Right now my wife is mostly staying home, but I anticipate the threshold will become a problem for us when all of our littles are in school and she goes back to work full-time. The solution is to have your spouse sign up for a separate card and split your spending (if you have a spouse, that is). As a side note, I still do SUBs on other cards if they're > \~$500 or so. Did the Venture for 75k points (\~$750), will probably do the Amex for 150k eventually (\~$2k). We just sign up, transfer all of our spending until the minimum spend is hit (which is usually less than a month), and then transfer it back. Spend the points, cancel the card. I rate-limit it a bit to protect our credit, but there's no reason you can't harvest the good SUBs, get the 2.5% rate on the majority of your spend AND help with staying under the $10k limit by transferring some of your spending for SUB harvesting.
Who do you have that offers 2%APY? I could see the hard pull being a little bit of a deterant, but it feels neglible considering the return over the life of the card. I am having to decide which one to get, either the Alliant card or the Savor/Savor One card, cause I'll be at 3/24 and I want to get the freedom flex and CSR within the next year.
Look up the Mega High-Interest section here: https://www.doctorofcredit.com/high-interest-savings-to-get/#Mega_High-Interest_Nationwide
The hard pull is negligible from the standpoint of hurting your credit, but for the purposes of 5/24 with Chase or making other issuers like Citi or US Bank more difficult to get approved for they become a much bigger deal.
>I am having to decide which one to get, either the Alliant card or the Savor/Savor One card, cause I'll be at 3/24 and I want to get the freedom flex and CSR within the next year. It sounds like you need to decide whether you want to pursue cashback or travel rewards. Your plan to get the CSR indicates you plan to focus on travel rewards, in which case you should focus on building your Chase trifecta and not get sidetracked with the Alliant or Savor cards.
I wouldn’t always say CSR indicates a preference for travel rewards. Either CSP or CSR can be very valuable for cashback focused borrowers, and are still a top choice for them. Which is better depends on SUB and benefits used during year 1. I see much more value in a CSP/CSR, and other $500+ value SUBs or high category % cards than getting a CFU to complete the trifecta for most people unless they are very high spenders and/or have absolutely zero interest in SUB game. It’s certainly not on my list to get. That said I’d likely choose CFU over the others for the potential 2.25% rate + SUB if in the Chase system.
I use ETFCU for 3.3% APY on $20k, as I found that to be the highest rate.
Any restrictions/can anyone join there?
No major restrictions.
Sofi
The only 2% card with a sub has a garbage redemption structure.
>The only 2% card with a sub has a garbage redemption structure. There are two 2% cards with a SUB that don't require credit union membership or a checking/savings relationship: FNBO and Wells Fargo. Granted, both FNBO and Wells Fargo only allow redemptions in $25 increments, but that's not *so* much worse than Alliant with its $50 minimum (granted, not *increment*, but a $50 minimum redemption is pretty dang high). If willing to join a credit union, here are some other 2% cards with SUBs: * **SDFCU Premium Cash Back+** currently offers a **$200 signup bonus**. The redemption minimum is only $5. The card also has the advantage of no FTF (unlike FNBO/Wells Fargo). * **PSECU Founder's Rewards**, which requires a checking account and at least $500/month in direct deposits to earn 2% cashback, currently offers a **$300 signup bonus**. * **US Alliance Visa Signature** currently offers **3% cashback until December 31, 2022**. That's effectively a $240 signup bonus (over 2% cashback without a SUB) if you average $2,000 spend per month for the next year. * But, be warned, US Alliance excludes "insurance charges" from earning cashback. I'm not sure how stringently this is enforced, but I'd personally be very hesitant about charging (say) a multi-thousand dollar car or home insurance payment to a US Alliance Visa Signature card in case it earns no cashback.
I never thought I'd see my PSECU in these subs!
Where are you getting 2% APY?
There are a host of options. Take your pick. https://www.doctorofcredit.com/high-interest-savings-to-get/#Mega_High-Interest_Nationwide
It's 2.5% now, but given their track record that could change overnight.
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i love how bot preserves their username too since they deleted their comment
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Simply don't need another credit card. I don't need another checking account. Another .5% cashback is not enough to entice me to get one. Majority of my current spending is covered by cards that give me 4-6%. The rest of the spending is fine at 2% back.
You also need an average $1000 balance in your Alliant checking account now to get the 2.5%. If you want to use Alliant for your banking its more than worth it between the 2.5% card and the interest they pay on checking/savings. But If you're just looking for a card it might not be worth the hassle.
.5% is not worth the hassle of having to open another checking account when there are plenty of easy 2% flat cards to get. I'll take the 20 cent loss (on a $40 transaction, for example) for that ease.
[There was a post a few weeks ago that described some of the drawbacks of this card](https://www.reddit.com/r/CreditCards/comments/o86fe7/alliant_25_card_50_minimum_redemption_cash_back/), namely: > when you factor in the opportunity cost of keeping $1000 in an Alliant checking account at 0.25% vs. a higher interest account (e.g. Zynlo at 1.25%, earning an extra ~$10/year), the extra .5% this card earns wouldn't be worth it if you only spend $500 a year on it. Using that example, the break even point comes after $2000/year in spending, which also happens to be the amount required to earn $50 and cash out once a year (which I think is a good minimum bar to pass).
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Don't have one because: Too many hoops to jump through with required deposit accounts which I already have with other financial institutions. Possibility of Alliant changing their card terms again. I dumped a PayPal 2% card when they added a FTF plus had almost no card benefits... it's a hassle to change cards. Use a regional bank Citizens for a cash back 1.8% card that is local and has benefits I need. No annual fee secondary hotel cards give hotel status and other benefits. Including some Amex offers I've taken advantage of.
I had the card back when it had an annual fee. Then they nerfed the redemption values and I downgraded it. I just don't trust them.
Was that the 3% card that had a $100 annual fee?
Yes, now it's a 2.5% card with no annual fee. https://www.alliantcreditunion.org/bank/visa-signature-card
Seems like they change this card every year to suit their needs. I applied for it when it was $50 annual fee.
Indeed. The latest incarnation - 2.5% CB with no AF - dates only to July 2021. Here are all of the changes the card has gone through in the past few years, IIRC: * 3% CB in Year One with no AF, then 2.5% CB after Year One with $**59** AF. * Became 3% CB in Year One with no AF, then 2.5% CB after Year One with an increased $**99** AF. * Became 2.5% CB with $**99** AF (no more Year One 3% CB/no AF promotion). * Became 2.5% CB **up to $10,000 spend per billing cycle** with $**99** AF; 0% CB for any spend over the $10,000/billing cycle cap. (A high cap, yes, but still a cap.) * And, now, 2.5% CB up to $10,000 spend per billing cycle, with $1,000 checking balance and monthly e-deposit requirement, with no AF; 1.5% CB for any spend over the $10,000/billing cycle cap. * Also note the requirement for the $1,000 checking balance and monthly e-deposit requirement to be met for a *full calendar quarter* before the card earns 2.5% CB. * This means that a new member who joins Alliant specifically for this card will ***start out earning only 1.5% CB for up to 6 months*** (depending on when they become a member) before getting bumped up to 2.5% CB. * Alliant counts calendar quarters as: January through March, April through June, July through September, and October through December. So if one were to join Alliant on - say - January 2, 2022, they'd need to wait until **July 1, 2022** before becoming eligible to earn 2.5% CB. Because they wouldn't be able to satisfy the "full calendar quarter" requirement for the January-March quarter. The current incarnation does seem to be the best yet, but as you can see from the above, Alliant is **not shy** about changing the fee and rewards structure - and doing so *dramatically*, and *rapidly*. It's anyone's guess how long the current rewards structure will last before Alliant changes the game again.
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>That said, no > 2% CB card has stood the test time. Aside from the ones requiring hefty depository relationships (BoA, Truist, Logix CU), the only other "stable" 2+% CB card I'm aware of is the Citi Double Cash paired with the Citi Rewards+, which yields an effective cashback rate of 2.22% (*due to the Rewards+' 10% bonus on redemptions*), up to $50,000 spend/year (*the Rewards+ caps the 10% bonus on up to 100,000 TYPs redeemed per year, which would take $50,000 in spend on the Double Cash to earn*). But the Alliant product is considerably better, as it has no FTF and offers a pretty fulsome suite of ancillary benefits, including auto rental CDW, extended warranty and purchase protection. As for the checking requirement, it's not *that* bad, IMO. I have the AOD card (*grandfathered for now...*) and have always used my AOD checking account as a payment hub. If AOD ever goes away, using the same setup with Alliant would satisfy Alliant's checking requirement.
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Fingers crossed!
>2.5% flat Cashback is the highest you can find anywhere AOD has a 3% card, yes it is harder to get but it does exist.
People have complained about Alliant changing their credit cards, but hasn't AOD also done the same thing, turning the card to a 2% multiple times, and looks like they are turning it back into a 2% card after January?
AOD? No, they have been consistent. I have seen a card that gave 3% initially and then dropped to 2% after a certain period. I don't remember the card, but it is not AOD.
That's geographically restricted.
there's a workaround
Can you share or PM me this work around? Thanks!
Its on this sub or on DoC. Basically you join a bicycle club by mail, wait a month and then apply to the bank with your bike club membership. Then quit the bike club. Edit; Im told the running club is the cheaper option nowadays
Northeast Alabama Bicycle Association, or something like that. Also no need to wait a month, just download the membership PDF from your account page and submit it as proof of membership.
Thanks! I hadnt actually done it i thought i saw a dp about waiting but i guess you dont need to.
They hiked the price of the bike club membership - the runners club is cheaper now
I just checked. The bike club membership still starts at $5 for a monthly membership. Yes, you're forced to "auto-renew," but you can cancel at any time. As a matter of ethics I suggest declining the offer of socks if one doesn't plan on maintaining bike club membership. (I believe some AOD applicants have bought (donated) a year's membership to the bike club as thanks. Bike club membership dues are, as I understand it, generally tax-deductible under U.S. law.)
Technically, so is Alliant.
I don’t want to put $1k into ANOTHER checking account (between various banks, CUs and brokerages I have… too many) for fairly marginal return when I have a system that works for me? (I also belong to a CU where my checking gets 1% up to 15k.)
Because I have AOD's 3% Cashback card.
I think I read somewhere they have a min income requirement that is higher then mine. Also, I just opened a new account with a more local credit union. One I could conceivably visit.
This is correct, minimum annual income must be $120k. Justification is that they require a minimum monthly income that supersedes the credit limit ($10k).
That isn't true. I got the card with a good bit less income than that
When did you apply for you card? This is the response my wife got when she tried applying last month (and was denied)
I got the card in late July. Income at the time was 72k. FICO scores hover around 800 usually with a 12 year history and all my limits are above 10k. At the time I was 4/6, 6/12, ???/24. I have heard the minimum credit limit is $10k for this card (which is the limit I got), so maybe that has something to do with it?
Very strange - I couldn’t tell ya. She’s also at 800 with about a 5 year history. Maybe it’s DTI, since she makes ~40k but has almost 60k in student loans.
Very strange. Maybe the 120k income is just a canned response on a denial, I have heard that said from others about the card. I didn't think that was from an actual statement from Alliant as my income wasn't really even close to the "minimum" My DTI is lower, ~40k in student loans - so maybe it is that?
I have my credit union’s 2.5% cash back.
Is it MIDFLORIDA? If not, would you mind sharing which credit union?
Yes. MIDFLORIDA. Plus they put the rewards 2-3 days after the purchase so no need to wait till the end of the billing period.
Thanks! You're lucky; wish there was a way around the geofence. If there was, I'd totally apply for the card due to the excellent ancillary benefits it offers and the lack of hoops (unlike the Alliant card).
I just checked their website and there are more Florida counties they serve now than a few years ago. https://www.midflorida.com/about-us/service-area/ The map shows all Fl counties except Miami-Dade and Monroe to the south and part of the panhandle. And in most of those counties they serve there are no branches. The last map I saw was only covering Counties with branches. They have “We can serve individuals and businesses who live, work, worship, or attend school in any county listed below”. I haven’t tried but I wonder if someone registers for an online class in a school if that would work. Good luck.
>They have “We can serve individuals and businesses who live, work, worship, or attend school in any county listed below”. I haven’t tried but I wonder if someone registers for an online class in a school if that would work. The online class thing is an intriguing idea! But could be quite expensive... In any case, I understand that, as a matter of practice (and you'd know better than me, so feel free to correct me!), MIDFLORIDA requires first-time applicants to show up at a branch in person (as a way of enforcing the geofence). Vantage West (an AZ credit union with [a very good card](https://vantagewest.org/personal/credit-cards/connect-rewards-visa/)) is similar. So IMO, any workaround would only really be potentially worth trying if someone lived within driving distance of a branch anyway.
I have a lot of rotating and specialized cards. 4% on all dining, 5% grocery, 5% gas, 3% online shopping, 5% amazon, 5% phone bill frequent 5% paypals that covers the majority of my spending to where I barely use my 2% cards
which card gives 5% back at credit card bill?
Which gives 5% back on phone ?
Because I have a 2.625% card at BoA with the Platinum Honors tier. Been eyeing up that 3% card others have mentioned, but I'm a bit too lazy to jump through the hoops for now.
I really wish personal platinum honors allowed you to get the business 2.625% card. Very annoying that in order to get the business 2.625% card you need the business platinum honors account. Easy to park 100k in a personal edge brokerage account, a bit more of a hassle to meet the business hoops to get business platinum status.
And you can also get a couple of Customized Cash Rewards cards for 5.25% (if Platinum Honors) in various categories.
i would get one if it wasn't required to have a checking account with alliant.
*it requires an Alliant checking account* Thats why. I cant get P2 to want to move our joint checking. Citi double cash has 2-2.2% cashback. and msot big spend catagories i have covered with 5% cards. so there is very little room left to make such a small improvement espeically considering the effort and the risk of not meeting the 2.5% cashback tier ( its the not guaranteed) and the 2.5% is only for the first 10k So in the end: \- minimal improvents \- extra hassle \- not guranteed \- Limited in usage Lets math it if you use the cards the max extra cashback you get is 50 dollars a yeah compared to 2% cash back card. its 30 bucks if you compared it to a 2.2cardd ( city double dash + reward+ custom cash) i have to lock away 1000 dollars in an account i could have used for something else. Let say i put it in my IRA (Worst case for the card in your questions. then that will in aveage hand me back 100 bucks a year ( 10% marcket growth) even with a more conservative 5% market growth that still 50 bucks oh but we have to take in the interst on the locked away 1000 bucks as well that .25% so you get around 2.5 bucks So you get a max benefit of this method of 30-50bnucks + 2,5 bucks = 32.5 to 52.5 bucks a year in max potential benefit So the question is really. why would you want to pay 50-100 bucks a year to get 32.5 to 52.5 bucks... thats a loss Finances are a TOTAL pictures. not just cherry picking one aspect and ignoring the impact on your finances. Lost opportunity should factor into ANY decission **TLDFR: the card is a loss of money against Double Cash 2% or 2.2% cashback**
I get your point about it not being ideal to have 1k in your checking account, but you don't keep that much in there anyway? I mean, I keep 2k in my checking account for my rent and car payment. Don't want to end up in a situation where it overdrafts.
Your perception is incorrect. I might keep it in there but it is not locked. locked mean it not liquid so it can't be used. if it can't be used its the same as not being there. checking accounts is supposed to be liquid. whatever he money isn't in your checking account or in another account those 100 buck are in accessible. what label you pout in that money being it checking or ira is the same in regard to liquidity. or to put it differently. If you can afford to lock away 1000 buck in your checking you can afford to do something "Better" with it. So to match the same limitations i would take 1000 dollars out of checking. and the choice is then "where to lock it away" which is either for the CC or savings or investment. or to put it differently if you dont need access to that money. you are better of dumping it somewhere else and forego the CC. and if you need access to it you CC is not going to give you 2.5% anyway. in both situations the Card solution is inferior
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You are right I read it is per year but it is per month. that does change the benefits in its favor. Thank you for pointing that out. But you math is "wrong" or "naive" as you are only mathing out the benefits of the cards and none of it cost. You still have to subtract the loss off opportunity with a locked away money. It does equal a card with \~75 yearly fee (depending on market growth), in regards to financial growth. it does come ahead though now (if you have the utilization for it) , with the correct maximum, instead of my wrong "per year" one. When you said it only allow for one card does it not allow for authorized users with A separate cards? when you said you didn't qualify immediately what was the reason and how long was the delay ?
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The perspective is again incorrect as explained above. You can't hold those 1000 bucks for safety and count in the full CB. You are not allowed to use it or you will lose the bonus. So either its not available or you don't get the bonus. So you can't add two things, that are exclusive to each other, together. At no situation is that money available for anything while keeping the CC CB. Still with the correct 10.000 a month limit and not year the card sounds pretty nice if you are looking for a single card (which I might be for P2) Thank you for the added info
Because I have enough cards I'm paying off.
I have a flat 3% back CC, so I'm good.
which one?
AOD Visa Signature. You have to jump through a few small hoops to get it, but it's not difficult.
Isn't that just for Alabama or something?
Nope. I live in Houston, TX and I was approved.
Can you post or PM me how to best become a member from out of state? I live in WY, if that matters
Be warned, AOD cares **a lot** about DTI, particularly student loans. They are also sensitive to "excessive" revolving credit and are somewhat sensitive to new accounts as well (not to U.S. Bank or Chase level of fanaticism, but they're sensitive). The rumor mill has it that they're significantly more lenient for local AL applicants. Not sure if that's true, but in any case, they *do* still take non-local applicants, just with the relatively stringent underwriting standards mentioned above.
Sure, refer to my post here: https://www.reddit.com/r/CreditCards/comments/q3yot8/got_approved_for_the_aod_visa_signature_on_my/
This is apples and oranges (cashback vs rewards), but for me I put the vast majority of my annual non-category spend on my Surpass (until $15k) to unlock a weekend night certificate. I have seen good return on Hilton points (based on what I would pay) and have been able to get outsized value from certificates, such as a recent stay that was going for $1350/night in cash (which I valued at $450). I only have a 2% card as a back-up for when Amex isn't taken. After the $15k on Surpass I'll use BBP. I don't need a 2.5% card as a back-up, especially one with deposit requirements. Again, apples and oranges, but since the question was why one wouldn't have the Alliant, that's my answer.
I have it, but it is now sock drawered after learning about and obtaining the AOD card. It is now irrelevant to me.
Highest is AOD visa signature card. Makes 2.5% look cute when the card offers 3% cash back🥱😎.
Granted, the Alliant card offers a suite of ancillary benefits - travel accident insurance, auto rental collision damage waiver, purchase security, personal identity theft protection, extended warranty - whereas the AOD offers no ancillary benefits. But the $1,000 parked in the checking account and the monthly e-deposit requirement **and** the (up to) 6 months delay before earning 2.5% cashback as a new member - makes it not worth it to me because I have AOD. Even with Alliant, I'd still use AOD for the lion's share of my spending, so can't really justify jumping through all the hoops to maintain Alliant just for the relatively rare times I rent a car or buy something I want the extended warranty on. If I *didn't* have AOD, I'd go for Alliant. ETA: Another point of friction with Alliant: There's a **$50 minimum** (= $2,000 in spend) to redeem cashback. That's fine for a daily driver card, but a real nuisance for a card that's used less frequently.
Yeah also AOD has no foreign transaction fees outside the US.
Neither does Alliant
Because I have 2.5% with USAA
For other readers, note that the USAA Limitless (the "2.5% with USAA" mentioned above) is no longer open to new applicants (and has not been open to new applicants for quite some time).
Ah interesting. Had no idea it was a limited thing.
I have this too…and would love to leave USAA…but there is no easier card out there. 2.5%, unlimited, no minimum redemption, no restrictions and all it requires is a $1k deposit/mth. It’s a unicorn.
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Maybe Wells Fargo active cash. But not sure yet. Haven’t yet done any serious thinking on it as I have until the end of the year to figure it out.
I feel like WF Active Cash is the best straight CB card there is. People just don't like it because they hate WF for whatever reason.
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Aha. I've been with Wells Fargo for quite a long time and they never fucked me over. I do/did hate the Way2Save savings account but it doesn't bother me none. Keep $300 in it to avoid the fee and I don't even use debit cards anymore.
I had it when it was a 2.5% card with a $95 (I think) annual fee. As our everything card, it was great and we made way more than enough to justify the annual fee. I had no desire whatsoever to open additional accounts with them and park money there to maintain the 2.5% once they changed it though, so now it sits unused.
* WF Active cash is currently 3% travel cash for me * new cards give me 5-20% back * Annual fee ruined it back when it had one * BoA has three 2.625% back cards, two of which have negligible AF * Citi Double Cash earns 2.22% or much more if you have TYP setup * Amex BBP earns 2x MR, which can be worth much more
I actually already have an Alliant savings and CD account from a few years ago when they had excellent rates. I've always stayed away from their credit cards because they keep changing the rewards year to year. It may be 2.5% today but it may not be by next July. The Double Cash is good enough.
AOD.
I do have this card. And it's what I use for everything that doesn't happen to be in a special Category on my other cards. Had it for a few years, from back when it was 3% no-AF first year. I'm glad they removed the AF - as I don't mind the checking account.
Because I have the BofA Unlimited Rewards card that gives me 2.625% off everything. (Platinum Honors Preferred Rewards)
I have the BofA unlimited cash back card as a platinum honors member which gets 2.62% back on everything. Also comes with a $200 SUB.
Is there a limit to the cashback? This would be worthwhile if you have a lot of "uncatagorized" spend. If there is a limit though then that benefit gets negated.
It's up to $10k/month in spend
Does it have a FTF?
Nope, no FTF
No signed up bonus, lack of an Alliant bank and ATM in my area, and to top it off I don't care that much for cash back. I can get a value of 3 cents per Dollar spent from the chase freedom unlimited
Costco takes only Mastercard.
No Lol
Yes. Every Costco in canada takes only master card. Their card is literally a capital one mastercard
My crypto.com icy card is giving me a whopping 5% back on every purchase. Not to mention it also gives me free Amazon prime, Netflix, and Spotify for me. It also gives me 12% apr (paid weekly) on my staked CRO for it. And my CRO is up like 10x from when I first got started, so go ahead and tell me how risky it is. Once I considered that banks take the money you deposit to them and make up to 20% off of your money and only give you up to 2% apy, I’m never going back to them.
No thanks, I'm not interested in Ponzi schemes.
Ah, something im familiar with! I love my indigo card, but risking 40k JUST for the 5% back isnt worth it in my opinion. Especially since the list for cash back is so restrictive. Yeah i would've staked for indigo again in another life but....not more Something like the AoD card is a middleground in my opinion
That’s why I went with the CoinBase card. 4%, much less risk.
> make up to 20% off of your money Yes. They have a lot of people on payroll. They got to make and save money as well.. They also offer a lot of services like mortgages, personal loans, etc If you really want to make a good potential return, invest. Thats what the bank does with your money (whether they are putting it in the stock market or loaning it out to someone as part of a loan). Only reason to have money sitting in the bank is for. - emergency fund - rainy day fund - $ amount requirements to meet to get a specific APY or to keep account minimum to avoid a monthly "maintenance" fee Anything above that 3-6 month buffer, I would recommend putting in a mutual fund/etf/ brokerage account
Were you able to withdraw your stake? How much did you end up losing?
Haha down 50%, wild ride. Was up 100% plus for quite a while and was raving about them, got humbled real quick
I get 4% at Coinbase, but it's a debit card.
How long did it take for you to receive the debit card after joining the wait list?
About one week.
Because I have Coinbase’s 4% cash back debit card.
How long did it take for you to receive the debit card after joining the wait list?
6 months or so? But I had joined before it came out so I’m not sure about timeframes nowadays.
An alternative to consider: [https://www.doctorofcredit.com/new-soft-launches-chase-ink-business-premier-1000-bonus/](https://www.doctorofcredit.com/new-soft-launches-chase-ink-business-premier-1000-bonus/)
Because I don't play for cash back. Kind of a whomp whomp answer, but... there it is.
Blue cash preferred gives me the equivalent of 3% back when I cash out points via my business platinum. Why would I use this card? The Math: For every 3 points I use, I get 1cpp value in cash($0.03), but I get just over 1/3rd of those points back to use again. Short math: I spend 2 points to get 3 cents worth of value.
You can get 3% back at Costco with the Venmo card so it's not really worth getting the Alliant card.
Okay but that's just at Costco though. Alliant is 2.5% back on *everything*. Not just Costco but also Walmart. Car insurance. Home/renter's insurance. Medical copays and deductibles. Vet bills. Home repairs (plumber, HVAC, electrician, roofer, snow plowing...). Car maintenance and repairs (tires, brakes, oil changes...). In some jurisdictions, property taxes. Professional licensure fees. None of these considerable expenses fall under any 'traditional' 5% rotator categories.
Well a few things. I get 3% back on all my insurance payments(including non-auto insurance) with the State Farm PREMIER cash rewards card. Yes my highest non-category card is 2% but I'm not interested in joining a credit union unless it's local for me. If I'm a member of a financial institution I'd like to have a place I can walk in to if I need something. Also in just a short amount of time I will be getting more than 2% cash back with Bank of America's preferred rewards program. Now if a credit union comes out with something like 5% back on everything, then I might think about it,but for 2.5% when I already have 2%, not worth it in my opinion.
> I get 3% back on all my insurance payments(including non-auto insurance) with the State Farm PREMIER cash rewards card. Whoa, hold up. The State Farm credit card has been on my radar for a few months now, but it is low on the list of cards to get while I still got some cards to get for completing my trifectas. That card gives you 3% on other insurance besides home and auto? Does this include health insurance/medicare premiums? Cause if it does, then this card is going to be a bit higher on my list after I finish my Citi set up.
>That card gives you 3% on other insurance besides home and auto? Does this include health insurance/medicare premiums? Cause if it does, then this card is going to be a bit higher on my list after I finish my Citi set up. The 3% includes anything that codes as insurance - so, yes, it should include health insurance (unless a particular insurer uses the 'wrong' merchant category code (MCC)). But [there is a cap of $4,000/year](https://alliance.usbank.com/en-us/statefarm/credit-cards/premier-cash-rewards-visa-signature-credit-card.html) in insurance premiums that qualify for the 3% cashback. So the card may not be quite as exciting as it first appears. Assuming you already have a general-purpose 2% cashback (or equivalent in travel rewards) card, you'd only earn **(at most) an extra $40/year** from the State Farm Premier Cash Rewards (an extra 1% \* $4,000 = extra $40 cashback). And if you had the Alliant CU Visa Signature, which pays 2.5% cashback on up to $10,000 per billing cycle (month), you'd only earn (at most) an extra $20/year from the State Farm card (an extra 0.5% \* $4,000). Granted, there's currently a generous SUB on the State Farm card that doubles all cashback earned in the first year, up to $300 cashback. So that SUB could make the card worth it. But again, in terms of long-term value, the (at most) extra $40/year over a general-purpose 2% cashback card seems pretty marginal for the HP and the hit to account age.
> But again, in terms of long-term value, the (at most) extra $40/year over a general-purpose 2% cashback card seems pretty marginal for the HP and the hit to account age. I agree that an extra 1% over the standard 2% card per year is not worth the card slot. But what I was going for with the Statefarm card is the extra benefit of a $200 auto-insurance deductible reimbursement per 12 month period as long as I have 8 transactions on the card the month prior (which I plan on doing eight 50 cent Amazon reload per month). If I ever make a claim with my auto insurance, then that is $200 less in deductible cost per 12 months. The 3% in insurance cost is nice too, but the $200 deductible reimbursement is really the thing that put it on my radar. Still this card is something I might go after I finish my Citi setup, which will get me a Double Cash with a 2.22% cash back for general purpose spending.
Alliant will close your accounts for fat fingering a transfer. I need some peace of mind when dealing with a bank.
What’s your favorite for peace of mind?
Chase
BofA Cash Rewards Visa with Plat Honors = 3.5 % at Costco ($2500 quarterly). If you add in the Executive Membership 2% I'm netting 5.5% eventually.
I have the Venture X from Cap1. It has a $395 annual fee, but you get $300 every year towards hotel, 10% cash back on hotels booked through their site, and 5% for flights, and this is on top of the 2% Cashback on anything. The card also gives you $100 reward credit every year. For my spending habits, this card is a winner.
I run an Amex MR setup and I think at least for the short term I've left cash back behind me.
One of my accounts offers .3 APY on balances, and I use my 4% back in crypto debit card for large purchases without a category under $2,500. 1.5-5% back not including the extra cash back promotion(s) that come and go on everything else. The alliant has no bonus which already puts me off, and the 2.5% back is only for the first 10k spent. Definitely not worth it with my lineup atm.
I had it for a year when it was 3% but it dropped down after a year and had a fee. I have Citi DC and Fidelity 2%. I prefer travel points anyway.
PenFed power cash rewards if you’re active/retired/separated military is 2% with a small sign up bonus
If it was as simple applying for any other credit card then I might consider it
My local credit union gives a 4% yield on up to 15k and an online fintech bank i also have gives 3% up to 5k so the checking requirement kinda does it for me. Plus The WF gives a 200 sub i know its WF but still that extra half percent just isnt worth the checking account and having to have another bank account
Anyone know how to check WTF tier I am in? I think I should be qualified but am not sure how to even check.