Alliant Visa Signature Card Limits 2.5% Cashback to $10K Monthly Spend
Alliant Credit Union offers the Alliant Visa Signature credit card that earns 3% cashback on all purchases for the first year and 2.5% after that. That earning rate puts this card well above other options for non bonused spending. There are many cards out there that offer at least 2%, but an extra 0.5% or 1% makes a huge difference for big spenders.
Now Alliant is making some negative changes. It is adding a limit to the cashback that you can earn with this card. Starting March 14th, only qualified purchases up to $10,000 per billing cycle will earn cashback.
For people that are spending way above that threshold, this is a big hit. The card comes with a $99 annual fee after the first year, but with enough spending it is still well worth it. Even with this new limitation it still makes sense to use this card for non bonused spend, over a 2% card. If you are spending exactly $10,000 a month for example, you would be earning $50 more than using a 2% card. Over a year that is an extra $600 and even after subtracting the annual fee, you get $501 more.
Bad news, but the card is still valuable. There’s no question about the value for the first year, but even beyond that it makes sense to keep the card for those who were taking advantage of the cashback rate.
Do you have the card? How does this affect you? Let me know in the comments.