Ally CashBack Credit Card review

The perks

• No annual fee. Ally Bank has a reputation for consumer-friendly features, and a $0 annual fee continues the trend.
• Signup bonus: $100 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.

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.

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.

Ally CashBack Credit Card reviews and complaints

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.

As of October 2020, 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.

• See screenshots of the application form

  
  
  

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.

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Compare cashback credit cards

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Name	Product	Filter values	Rewards	Purchase APR	Annual fee
Blue Cash Preferred® Card from American Express			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 (redeem as statement credit)	0% intro for the first 12 months (then 13.99% to 23.99% variable)	$0 intro annual fee for the first year ($95 thereafter)	Apply now View details	Perfect for families: Earn up to 6% cashback as statement credit on everyday purchases and a big welcome offer for a cashback card. This heavy-hitter rewards card has uncontested value. Terms apply, see rates & fees	Compare	loading Fetching your data...
Blue Cash Everyday® Card from American Express			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 (redeem as statement credit)	0% intro for the first 15 months (then 13.99% to 23.99% variable)	$0	Apply now View details	This everyday cashback card offers a higher than average welcome offer for no annual fee, letting you earn 20% back on Amazon.com purchases in the first 6 months for up to $150 back, plus $100 after you spend $2,000 in the first 6 months. Terms apply, see rates & fees	Compare	loading Fetching your data...
Chase Freedom Unlimited®			5% cash back on travel purchased through Chase, 5% on Lyft, 3% on dining and drugstores and 1.5% on all other purchases	0% intro for the first 15 months (then 14.99% to 23.74% variable)	$0	Apply now View details	This solid 1.5% cashback card gets even better with the addition of up to 5% back in categories like travel, drug stores and dining.	Compare	loading Fetching your data...

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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.

Frequently asked questions

• If I qualify for the signup bonus, when will I receive it?

  You’ll see the signup bonus in your account within six to eight weeks after you qualify for it.

• Does my cash back ever expire?

  It won’t expire as long as your account stays open and in good standing.

• Do I still need to make payments on my balance transfer during the intro-APR period?

  Yes. You need to make at least the minimum payment each month to avoid default.