Is the Alliant Visa Platinum Rewards Card worth it? | April 2018
Alliant Platinum Rewards credit card

Review: Alliant Visa® Platinum Rewards Card

This no-annual-fee card from Alliant lets you earn 2x points on all purchases to redeem for cash back and more.

  • Get this card if… you want to earn rewards and pay no annual fee.
  • Good to excellent credit score of 680 or higher recommended.

The Alliant Visa Platinum Rewards Card comes with a signup bonus of 5,000 points after spending only $500 in purchases in the first three months. You’ll earn 2x points on all purchases for a variety of rewards.

The basics

If you’re looking for a no-annual-fee rewards card, take a look at the Alliant Visa Platinum Rewards Card. This credit union card comes with a low APR and no annual fee. You’re rewarded 2x points for all purchases, redeemable for cash back, travel rewards, gift cards, charitable contributions and more. Trying to get out of debt? Balance transfers are free and come with a low intro APR for the first year. There is a fee for foreign transactions, so travelers should check out the Alliant Visa Signature Card.

Compare Alliant Visa cards

Alliant Visa Platinum Rewards CardAlliant Visa Signature CardAlliant Visa Platinum Card
Annual fee$0$0 for the first year, $59 thereafter$0
Intro APR0%–5.99% variable for 12 months; 13.99%–23.99% variable thereafterNone0%–5.99% variable for 12 months; 9.99%–21.99% variable thereafter
Balance transfer feeNone, unless associated with a promo offer3% of the transferred amountNone, unless associated with a promo offer
Cashback/Rewards2x points for all purchases, 5,000 bonus points with qualifying spendingUnlimited 3% cashback for the first year; 2.5% thereafterNone
Foreign transaction fee1% of each transaction in US dollarsNone1% of each transaction in US dollars

Finding the best Alliant Credit Union card for you will depend on how much you spend and what you’re willing to pay in fees. While you can find a no-annual-fee card, Alliant credit union also provides cash back and rewards cards.

Annual fee. The Signature Card waives the $59 annual fee the first year, compared to the Platinum and Platinum Rewards cards, which have no annual fee.

  • Verdict. If you want to pay no annual fees for the life of your card, the Platinum or Platinum Rewards card might work well for you. But if you plan on spending more, the cash back offered with the Signature card can help offset that annual fee.

Cashback and rewards. While the Signature Card offers cash back on all purchases, the Platinum Rewards Card lets you redeem points for travel rewards, merchandise, gift cards or cash back. The Platinum Card doesn’t come with cash back or rewards.

  • Verdict. Get the Signature Card if you want cash back, and the Platinum Rewards Card if you’re after a variety of rewards.

Balance transfers. The Platinum and Platinum Rewards cards come with intro APR offers on balance transfers for 12 months, and you won’t pay an annual fee. You’ll pay a fee for balance transfers with the Signature Card.

  • Verdict. If you’re considering transferring an outstanding balance from an existing card, the Platinum and Platinum Rewards cards are best.

The nuts and bolts

Product nameVisa® Platinum Rewards
Issuing bankAlliant Credit Union
Recommended credit score range680–850 (good to excellent)
Annual fee$0
Signup bonus5,000 points if you spend $500 on purchases within the first three billing cycles
Purchase APR13.99%–23.99% variable
Intro purchase APR0%–5.99% variable for 12 months; 13.99%–23.99% variable thereafter
Intro balance transfer APR0%–5.99% variable for 12 months; 11.99%–23.99% variable thereafter
Balance transfer feeNone
Foreign transaction fee1% of each transaction in US dollars
Cash advance rate18.99%–23.99% variable
Cash advance fee$10 or 2% of the transaction, whichever is greater
Penalty APR24.99%
Late payment feeUp to $25
Returned payment feeNone
Overlimit feeNone
Maximum credit limitNone
Minimum interest chargeNone

The perks

  • Earn reward points. You’ll earn 2x points on all purchases.
  • Bonus points. You’ll get 5,000 bonus points if you spend $500 in purchases within the first three months from opening your account.
  • Rewards. Redeem your points for travel rewards, adventures, events, merchandise, gift cards and charitable contributions. You can also redeem your rewards points as cash back into your Platinum Rewards account or your Alliant savings or checking account.
  • Intro APR offer. This rewards card comes with an intro APR offer on purchases and balance transfers for the first 12 billing cycle. The intro APR will vary from 0% to 5.99%, depending on your creditworthiness.

You’ll also like…

  • No annual fees. This card comes with no annual fees for the life of the card.
  • No balance transfer fees. You can transfer balances from other cards at any time without paying balance transfer fees.
  • Safety and security. A $0 liability feature protects you from fraudulent transactions. This chip enabled card offers free roadside assistance and auto rental collision damage waiver.

What to watch out for

  • End of intro APR. Once the 12-month intro period ends, you’ll need to start paying interest on all outstanding balances from purchases and balance transfers.
  • Points expire. After five years your points will expire.
  • Late payments. You’ll pay up to $25 for paying late.

Consider other cards if …

  • You’re a frequent overseas traveler. If you plan to use your new card outside of the US, you’ll be better off finding a card that comes with no foreign transaction fees.
  • You want a better signup bonus. While the Platinum Rewards card comes with 5,000 signup bonus points, you’ll find other rewards cards that are more generous with their signup bonus offers.

What to know before you apply

Apply for the Alliant Visa Platinum Rewards Card if you’re:

  • At least 18 years old.
  • A US citizen or permanent resident.

Always consider your options and your financial situation before you apply for a credit card.

What credit score do I need?

There is a greater possibility of your application’s approval if your credit score is 680 or higher.

How to apply for the card

1. On the Alliant Visa Platinum Rewards Card website, click Apply Now.

Alliant Visa Platinum Rewards Card review Step 1
2. Provide the required personal and financial information.

Alliant Visa Platinum Rewards Card review Step 2 AAlliant Visa Platinum Rewards Card review Step 2 BAlliant Visa Platinum Rewards Card review Step 2 CAlliant Visa Platinum Rewards Card review Step 2 DAlliant Visa Platinum Rewards Card review Step 2 EAlliant Visa Platinum Rewards Card review Step 2 F
3. Confirm that the information is correct and submit your application.

How long will it take to be approved?

Once you submit an online application, you’ll find out about its status almost immediately.

How do you become an Alliant Credit Union member?

To get the Visa Platinum Rewards card, you need to become an Alliant member. You can become one if:

  • You’re an existing or retired employee of a business or organization that partners with Alliant.
  • A domestic partner or an immediate family member is an existing Alliant member.
  • You donate at least $10 to an Alliant charity partner.
  • You live near Alliant’s corporate headquarters in Chicago.

I got the card. Now what?

  • Online banking. Use Alliant’s online banking platform to keep track of your spending, make payments and carry out balance transfers.
  • Automatic payments. Set up automatic payments from your checking account to ensure you make all your payments on time.
  • Avoid fees. You’ll pay up to $25 for late payments.
  • Customer service. Send a secured online message from the Alliant website, connect with Alliant @AlliantCU or call 800-328-1935.

Bottom line

The Alliant Visa Platinum Rewards Card offers plenty of perks, including the intro APR offer, 2x rewards points and no annual fees, but you’ll need good to excellent credit to qualify. Be sure to compare your options before making any decisions.

Common questions about Alliant Visa Platinum Rewards Card

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