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cv91915

Alliant Has Increased AF on the 3% Intro/2.5% Ongoing Card from $59 >> $99

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I got charged $59 late last month and I will keep until next year. Will convert or close next year..

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Check your email and snail mail. They sent the change to annual fee in credit card terms.

This will be in effect for cards renewing from now or new cards.

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1 hour ago, credit_help said:

Check your email and snail mail. They sent the change to annual fee in credit card terms.

This will be in effect for cards renewing from now or new cards.

yah I got that today; the math doesn;'t really change for this card.

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More importantly they keep dropping benefits. It was among the first to stop working for bitcoin. It's now worthless at GCM, Google Pay, etc. It's no longer accepted at Smith's and probably will be banned Kroger-wide soon.

 

I wonder how long before the 3%/2.5% only applies to movies between 3pm and 5pm on Tuesdays. AbUse it while you still can.

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Remember that credit unions serve members with lower fees because they put people first and don't make a profit, unlike those bloodthirsty banks who eat your children when you overdraw your checking account.

 

 

 

Edited by cv91915

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I think this is not worth it with higher AF. Citi DC is better at $0 AF and 2% CB for day to day usage.

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Remember that credit unions serve members with lower fees because they put people first and don't make a profit, unlike those bloodthirsty banks who eat your children when you overdraw your checking account.

I am sorry about your babies. :-(

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Still worth it for me. Might reconsider if they bump it again. That Citi card looks decent, although I still have a completely useless card with them post-Forward.

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for my spend pattern CITI's 2% is not worth it; there are other citi cards that earn me more and anything that is not covered by a rewards system of one of my cards goes on alliant. it only takes a few weeks to justify the AF.

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On ‎4‎/‎19‎/‎2019 at 12:20 AM, cv91915 said:

Remember that credit unions serve members with lower fees because they put people first and don't make a profit, unlike those bloodthirsty banks who eat your children when you overdraw your checking account.

 

 

 

Amen! :good:

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On 4/19/2019 at 3:20 AM, cv91915 said:

Remember that credit unions serve members with lower fees because they put people first and don't make a profit, unlike those bloodthirsty banks who eat your children when you overdraw your checking account.

 

 

 

 

2 hours ago, Rogue said:

Amen! :good:

So it's settled.  Credit unions are perfect for people who can't do math.

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12 hours ago, ftpwatcher said:

FrequentMiler has interesting read about Alliant Cashback Visa.

Here https://frequentmiler.boardingarea.com/is-the-alliant-cashback-visa-still-worth-it/

Personally I'm going to downgrade mine to the boring Visa Platinum Rewards without AF.

Thats a good write up and I made my mind. I will be canceling this after the current anniversary expiration as i was charged $59 few weeks back.

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On ‎4‎/‎19‎/‎2019 at 1:45 AM, Occam said:

More importantly they keep dropping benefits. It was among the first to stop working for bitcoin. It's now worthless at GCM, Google Pay, etc. It's no longer accepted at Smith's and probably will be banned Kroger-wide soon.

 

I wonder how long before the 3%/2.5% only applies to movies between 3pm and 5pm on Tuesdays. AbUse it while you still can.

Just find other angles that it does work for.

 

2 hours ago, cv91915 said:

 

So it's settled.  Credit unions are perfect for people who can't do math.

If you are good at math you would know how to exploit them. Target rich environment.  

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On 4/18/2019 at 8:27 PM, hegemony said:

yah I got that today; the math doesn;'t really change for this card.

Sure it does. Now it requires an extra $8k/year to break even.


Realistically, most people would be better off putting that extra $8k toward 2-4 high value SUBs.

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For a one year period, a new no fee Discover Miles looks good at 3%.   So does a new Chase Freedom Unlimited, also at 3% on $20k in charges.  Of course, if you also have a CSR and redeem for airfare, then you're looking at 4.5%.  (that's where I'm at for the next year)

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On 4/19/2019 at 10:03 AM, Krish said:

I think this is not worth it with higher AF. Citi DC is better at $0 AF and 2% CB for day to day usage.

 

Alliant's no fee card is also a flat 2% card.

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Here is the problem with this card as I see it.  Ignoring the first year bonus, in order to outpace a flat no-AF 2% card you basically have to spend >$20K/year on the card.  For most people, that level of spend is well above their financial means and it is a losing proposition.  For those who can afford that level of spend, they are likely more affluent and are likely to travel, and would therefore benefit more from earning points and redeeming those for miles/hotels at a better redemption rate.

 

The target is a narrow window of people who have enough money to meet the spending threshold for it to be better than a no-AF 2% and who either don't travel, can't be bothered figuring out how to maximize value, or accept lesser value out of ignorance of for simplicity.

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36 minutes ago, CTSoxFan said:

Here is the problem with this card as I see it.  Ignoring the first year bonus, in order to outpace a flat no-AF 2% card you basically have to spend >$20K/year on the card.  For most people, that level of spend is well above their financial means and it is a losing proposition.  For those who can afford that level of spend, they are likely more affluent and are likely to travel, and would therefore benefit more from earning points and redeeming those for miles/hotels at a better redemption rate.

 

The target is a narrow window of people who have enough money to meet the spending threshold for it to be better than a no-AF 2% and who either don't travel, can't be bothered figuring out how to maximize value, or accept lesser value out of ignorance of for simplicity.

I agree.

 

Their pitch says that the card is targeted for people who spend $50k a year on the card.

 

We spend considerably more than that, but I wouldn't use this as my primary card, let alone my only one.

 

With $100k+ invested with Merrill  (Vanguard ETFs, etc.), my Bank of America Travel Rewards card pays a flat 2.625% back with no annual fee.  

 

I would wager that a large percentage of people with the capacity to charge/PIF $50k a year on a credit card have at least $100k in investable assets. 

 

I use the Travel Rewards Visa for non-category spending, but for most categories of spending I use other cards because the rewards are even better.

 

Vc5oHTV.jpg

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BTW, I had the thread title changed to reflect the fact that this really isn't a 3% card, it literally devalues itself to a 2.5% card in year two at the same time the $59 $99 AF kicks in.

 

A new Discovery IT Fake Milez card would pay the same 3% in year one, although that card is also a bowl winder beginning in year two.  

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13 minutes ago, cv91915 said:

With $100k+ invested with Merrill  (Vanguard ETFs, etc.), my Bank of America Travel Rewards card pays a flat 2.625% back with no annual fee.  

It's interesting you note the available cb rate boost for BA cardholders with savings/investment accounts.  Just this last week the potential boost caught my eye.  There are hikes at $20k/$50k/$100k invested balances.  What I find particularly noteworthy is that retirement account balances are eligible.

 

I'm considering transferring $100k from Vanguard to BA/Merrill (where I can invest in the same ETF's), and score some premium cashback.  We already have a BA Cash Rewards card for the sake of earning 2% on Costco purchases and 3% on online purchases.  The 75% cb boost from a $100k investment account would hike these rates to 3.5% and 5.5% respective (simply awesome for a no-fee card ... particularly on online purchases)!

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11 minutes ago, hdporter said:

It's interesting you note the available cb rate boost for BA cardholders with savings/investment accounts.  Just this last week the potential boost caught my eye.  There are hikes at $20k/$50k/$100k invested balances.  What I find particularly noteworthy is that retirement account balances are eligible.

 

I'm considering transferring $100k from Vanguard to BA/Merrill (where I can invest in the same ETF's), and score some premium cashback.  We already have a BA Cash Rewards card for the sake of earning 2% on Costco purchases and 3% on online purchases.  The 75% cb boost from a $100k investment account would hike these rates to 3.5% and 5.5% respective (simply awesome for a no-fee card ... particularly on online purchases)!

I take care to post more details about now to meet the $100k requirement now, because I used to get a lot of comments like, "What kind of an idiot puts $100k in a Bank of America savings account at 0.01%?"  

 

(Answer: the same kind of idiot who pays a $99 AF for a flat 2.5% credit union rewards card).

 

Thanks for pointing out the lower thresholds that have rewards bonuses as well.

 

There are several other benefits beyond the credit card rewards bonuses, more fully described here:

 

https://www.bankofamerica.com/preferred-rewards/

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