Ally CashBack Credit Card review | finder.com

Ally CashBack Credit Card review

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Ally CashBack Credit Card

It’s not head and shoulders above its competitors, but it offers 2% cash back on gas and groceries.

  • Get this card if you spend heavily on gas and groceries.
  • Pick something else if your spending is more evenly distributed among other categories.
  • Apply with a good to excellent credit score of 670 to 850.
Product NameAlly CashBack Credit Card
Card TypeVisa
Annual Fee$0
Standard Purchase APR15.24%, 20.24% or 25.24% variable
Intro Purchase APR

N/A

Standard Balance Transfer APR15.24%, 20.24% or 25.24% variable
Intro Balance Transfer APR 0% for the first 12 billing cycles (then 15.24%, 20.24% or 25.24% variable)
Balance Transfer Fee$5 or 3% of the transaction, whichever is greater
Cash Advance Rate25.49% variable
Cash Advance Fee$10 or 5% of the cash advance amount, whichever is greater
Foreign Transaction Fee3% of the transaction value
Interest Free PeriodUp to 25 days
Late Payment FeeUp to $35
Minimum Age18 years of age
Rewards2% cash back at gas stations and grocery stores 1% cash back on all other purchases
Base Rewards1% cash back

The basics

The Ally CashBack Credit Card follows the mold of other cashback products, offering no annual fee, a good signup bonus and an intro APR on balance transfers.

It’s somewhat unique for one reason: It offers higher cash back on gas and groceries with no cap on rewards — most cards do. This means you could earn excellent rewards for spending more on gas and groceries.

Another card for everyday cash back

Blue Cash Everyday® Card from American Express

  • Earn a $150 statement credit after you spend $1,000 in purchases on your new card within the first 3 months.
  • 3% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%).
  • 2% cash back at U.S. gas stations and at select U.S. department stores, 1% back on other purchases.
  • Low intro APR: 0% for 15 months on purchases and balance transfers, then a variable rate, currently 15.24% to 26.24%.
  • You spoke, we listened. Over 1.6 million more places in the U.S. started accepting American Express® Cards in 2018.
  • Cash back is received in the form of Reward Dollars that can be easily redeemed for statement credits, gift cards, and merchandise.
  • No annual fee.
  • Terms apply.
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See Rates & Fees
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The perks

  • No annual fee.
    Ally Bank has a reputation for consumer-friendly features, and a $0 annual fee continues the trend.
  • Signup bonus: when you spend $500 on eligible purchases in the first 90 days of your account opening.
    This is a good bonus for a no-annual-fee cashback card. It’s also relatively easy to obtain given the low spending requirement.
  • Rewards: Up to 2% cash back.
    Earn 2% cash back at gas stations and grocery stores. While this may not be as high as other rewards rate, it’s still solid. The advantage here is your gas and grocery rewards aren’t capped. Other cards might give you 3% on gas or groceries but cap your eligible purchases each quarter. Earn 1% cash back on all other purchases — a standard rate among many credit cards.
  • Intro APR: 0% on balance transfers for the first 12 billing cycles following your account opening, and 15.24%, 20.24% or 25.24% variable after that.
    This is a solid intro APR period. If you want a longer one, look for cards with 0% intro APR for 15 to 20 months.

How much cashback rewards can I earn with this card?

Here’s the cash back you might earn based on this hypothetical budget:

  • $10,000 per year on gas and groceries x 2% = $200 cash back
  • $5,000 per year on other purchases x 1% = $50

In total, you’d earn $250 cash back over the year.

If you redeemed that cash back into your eligible Ally Bank account, you’d receive a 10% bonus. That would give you a total deposit of $275.

You’ll also like …

  • 10% Ally Deposit Bonus.
    When you redeem your cash back for a direct deposit into an Ally Bank account — savings, money market account or interest checking — Ally deposits an extra 10% into your account — that means $20 for $200 cash back. It’s a nice bonus that can help you save.

What to watch out for

  • Your normal purchase and balance transfer APR.
    If you’re approved for this card, Ally will assign your account a normal purchase and balance transfer APR. This could be as high as 25.24% variable if you have unstable credit.
  • Standard fees.
    Like most other cards, the Ally CashBack Credit Card charges fees for balance transfers, cash advances, foreign transactions and late payments.
  • Balance transfer terms.
    The minimum transaction for balance transfers is $250 and could take two to four weeks to complete. If your account is 60 days past due, Ally may end your balance transfer intro APR.

Compare cashback credit cards

Name Product Filter values Rewards Purchase APR Annual Fee
2% at US gas stations and select US department stores, 3% at US supermarkets on up to $6,000 per year, then 1% after that and on all other purchases
0% for the first 15 months (then 15.24% to 26.24% variable)
$0
Earn a $ bonus statement credit after you spend $1,000 on purchases in the first 3 months. Rates & fees
3% cash back on up to $10,000 in the first 12 months, then 1.5% on all purchases
0% for the first 12 months (then 15.24%, 19.24% or 25.24% variable)
$0
Earn 3% cash back on up to $10,000 in the first 12 months, then 1.5% on all purchases. See Rates and Fees.
1.5% cash back on all purchases
0% for the first 15 months (then 15.24% to 26.24% variable)
$0
Earn a $150 statement credit after you spend $1,000 or more in purchases with your new card within the first 3 months of card membership. Rates & fees
1% cash back on all purchases or in categories based on Credit One Bank’s discretion
20.24% to 26.24% variable
$0 to $99
Earn 1% cash back on all purchases or in categories based on Credit One Bank’s discretion.
6% on select US streaming services, 3% on transit and US gas stations, 6% at US supermarkets on up to $6,000 annually, then 1% after that and on all other purchases
0% for the first 12 months (then 15.24% to 26.24% variable)
$95
Earn $250 bonus cash back after you spend $1,000 on purchases in the first 3 months. Rates & fees

Compare up to 4 providers

What should I know before I apply?

You must meet the minimum age requirements to apply for this card:

  • 18 years old in most states.
  • 19 years old if you live in Alabama or Nebraska.
  • 21 years old if you live in Mississippi.

Required information

  • Full name and date of birth.
  • Social Security number.
  • Contact information.
  • Occupation, annual gross income and employment information.
  • Address and residential information.

What credit score do I need?

Consider applying for this card with a good to excellent credit score of 670 to 850. If you have better credit, you’re more likely to be rewarded with a higher credit limit and lower APR.

What do customers say about the Ally CashBack Credit Card?

Some customers say other cards offer better rewards on gas. However, many customers like the Ally CashBack Credit Card‘s 2% cash back on gas and groceries.

Ally Bank has a B- rating from the Better Business Bureau (BBB) and is not accredited by the agency. According to the BBB, it has failed to respond to 148 customer complaints. Some customers say their accounts were shut down unexpectedly; others say the Ally website isn’t as functional as it could be.

How to apply for the Ally CashBack Credit Card

  1. Head over to the Ally website and click Apply now. You’ll be taken to a third-party website.
  2. Complete the application with your personal and financial details.
  3. Review your information and submit your application.

How long will it take to get my Ally CashBack Credit Card?

TD Bank is the managing bank of the Ally CashBack Credit Card, so you might not receive an immediate decision on your application. If that’s the case, expect to hear back via email within two weeks. You can contact Ally to check on your application status.

If you’re approved, you’ll receive your card in the mail within seven to 10 business days.

I got the card. Now what?

  • Register an online account on the Ally website. This lets you easily check your account balance and pay your bill. You can sign up for autopay to avoid missing payments.
  • Avoid interest. If you pay your bill in full each month, you’ll receive an interest grace period on purchases after the close of each billing cycle. This will be at least 25 days long.
    You’ll start accruing interest immediately on balance transfers and cash advances.
  • Avoid fees. Late payments come with fees as high as $35. You’ll also pay fees for balance transfers, cash advances and foreign transactions.
  • Contact customer support. If you need help, contact the number on the back of your card. You can also call 888-916-2559 to reach Ally Bank credit card support.

How do I redeem rewards from this card?

Log in to your Ally account to redeem your rewards once you’ve accumulated at least $25 in cash back. You can redeem for statement credit or an electronic deposit into an eligible Ally account.

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Bottom line

If you spend $10,000 a year or less on gas and groceries, you’ll probably earn better rewards with the Bank of America® Cash Rewards credit card. But if you spend significantly more than that, the Ally CashBack Credit Card could be a fine choice.

Not sure about this card? Compare other cashback credit cards before you make your final decision.

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