Alliant Making Changes to 2.5% Cash Back Credit Card

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Last updated on April 13th, 2023

The Alliant Cashback Visa Signature Credit Card is one of the most lucrative cash back credit cards on the market today. From Chicago-based credit union, Alliant Credit Union, the card earns 2.5% cash back on the first $10,000 in spending each billing period for an annual fee of $99. Now, Alliant is looking to waive the annual fee but keep the 2.5% cash back intact – here are all the details:

Alliant Introduces New Cash Back Rewards Structure

Most flat-rate cash back cards offer 1.5% back on purchases, with a notable selection offer up to 2% back. Those 2% cash back cards include the Citi® Double Cash Card and the TD Double Up Cards – both of which are among the best cash back credit cards from major banks.

However, perhaps the best cash back credit card comes from a credit union – Alliant, to be precise. The Alliant Cashback Visa Signature Credit Card offers a near-unlimited 2.5% cash back on all purchases for a relatively modest $99 annual fee.

Alliant has no removed the $99 annual fee for the Cashback Visa Signature, while keeping the 2.5% cash back – a huge development for those that want the very best in rewards but don’t want a fee for those rewards. Instead, the credit union is shifting towards a tiered rewards system that provides 2.5% back for the highest spenders and a more modest 1.5% cash back for entry-level cardholders.

Alliant’s New Cash Back Rewards Structure

The new Alliant cash back rewards system consists of two tiers.

Tier One Cash Back Rewards

The first tier, tier one, earns the same 2.5% cash back on the first $10,000 in spending in a billing period as the previous system. Once a cardholder exceeds the $10,000 monthly spending limit, all other purchases will earn an unlimited 1.5% cash back.

Reaching this tier is a fairly simple task. Alliant requires cardholders to have an Alliant high yield checking account and maintain an average daily balance of $1,000 for the quarter prior to the billing statement the rewards are earned. If they meet these requirements, the user earns 2.5% back on the next billing period.

Tier Two Cash Back Rewards

The second tier of the program earns unlimited 1.5% cash back on all purchases and is available to new customers and those who do not meet the checking account requirements in the previous quarter.

Except for existing Alliant Credit Union members, this second tier is the likely starting point for most applicants to the Alliant Cashback Visa Signature. Still, the 1.5% cash back for the first quarter is a solid earning rate for no annual fee.

Alliant High Yield Checking

Alliant’s high yield checking account is also a great deal for potential customers. The account features an Annual Percentage Yield (APY) about 8X higher than the national average (currently set at 0.25% APY, compared to the average of 0.04% APY). The checking account also comes with access to over 80,000 fee-free ATMs throughout the United States, a contactless debit card, and no monthly fees or balance requirements.

Related Article: The Best Credit Union Credit Cards of 2021

Featured photo by Alliant Credit Union

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About: Cory Santos
Cory Santos

Cory is the senior credit card editor at BestCards, specializing in everything credit card-related. He’s worked extensively with credit cards and other personal finance topics, including nearly five years at BestCards. Cory’s extensive knowledge is an essential part of the BestCards experience, helping readers to live their best financial lives with up-to-date insights and comprehensive coverage of all facets of the credit card space, including market trends, rewards guides, credit advice, and comprehensive credit card reviews.

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