As of July 2021, Alliant will change its award structure to the Alliant Cashback Visa® Signature Credit Card. Alliant will offer cardholders a tiered rewards program that will impose new requirements in order to achieve that solid 2.5% cash back rate on purchases.
Here’s what’s changing.
New reward requirements
The new tiered rewards program will eliminate the current $ 99 annual fee for the card. Following the changes in July 2021, the card will be charged an annual fee of $ 0.
Cardholders can get two different cashback tariffs:
2.5% cashback: Earn this plan for up to $ 10,000 in eligible purchases per billing cycle when you have an average daily balance of $ 1,000 or more in an Alliant High Rate Checking account for at least two months during the third and fourth quarters of 2021, and for each quarter of the year 2022. Conditions apply.
1.5% cashback: This rate applies to all other purchases that are not eligible for the increased cash back rate.
Previously, no checking account was required to receive 2.5% cashback. Cardholders can open the current account online. The high-rate current account is free and there are no monthly maintenance fees. Plus, it deserves a decent price.
In addition to the current account, you must opt for the electronic account statement and make at least one monthly deposit into the account. Eligible deposits include direct deposits, payrolls, ATM deposits, mobile check deposits, or wire transfers from other financial institutions.
Is It Still Good Business?
The latest changes may offer a better deal for those who can afford to keep $ 1,000 in Alliant’s high-rate checking account. You may have to take a few extra steps to get the 2.5% back, but you don’t have to pay an annual fee.
Cardholders will also be out of luck if they hit the spending limit for the card’s billing cycle. Once you have reached the cap, you will not receive any rewards beforehand. Now you earn a decent cash back rate of 1.5% – that’s the gold standard among credit cards.
In addition to meeting the above requirements, membership is also required in order to apply for the Alliant Cashback Visa® Signature Credit Card. Joining is easy if you cannot qualify through your job or an eligible family member. You can become a member of Foster Care to Success and Alliant will pay a $ 5 membership fee to that organization on your behalf.
What if I already have this? Alliant Cashback Visa® Signature Credit Card Map?
Current cardholders will automatically be included in the 2.5% premium level for the billing cycles July, August and September 2021. You will continue to receive 2.5% cashback rewards on eligible purchases up to $ 10,000 per billing cycle.
To receive 2.5% rewards for Fourth Quarter 2021 Billing Cycles, in addition to the new requirements to open and maintain an average daily balance of $ 1,000 or more in an Alliant High Rate checking account, you must have one qualifying deposit per month.