Ally CashBack Credit Card Review | Bankrate

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Snapshot

4.4
Bankrate rat

Our writers, editors and industry experts score credit cards based on a variety show of factors including menu features, bonus offers and independent inquiry. Credit card issuers have no say or influence on how we rate cards .

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Ally Bank Image

Ally CashBack Credit Card

Rewards rate
1 % –2 %

2 % cash back at flatulence stations and grocery stores 1 % cash back on all early purchases annual tip
$ 0

Intro put up

Intro offer is not available to this Ally Bank recognition card N/A regular APR
15.24 % 20.24 % 25.24 % Variable based on your creditworthiness

Ally Cashback Credit Card Overview

The Ally CashBack Credit Card offered by the on-line bank of the same mention good doesn ’ t have that wow factor we ’ ve seen in other cash-back cards. Offering a just-OK 2 % rate on groceries and boast and 1 % on all other purchases, Ally CashBack is well bested by respective others that offer greater rewards value and other perks. That being said, this is a perfectly very well credit menu for person who wants no complications, particularly if you own an Ally Bank down payment report .

What are the advantages and disadvantages?

Pros

  • No annual fee to pay.
  • Earn a $100 bonus if you make $500 in eligible purchases within the first three months.
  • Get a 10% bonus if you deposit your earnings to your Ally Bank account.

Cons

  • Must have an Ally Bank deposit account.
  • You earn smaller rewards on gas and groceries compared to other credit cards.
  • A bare bones cash back credit card with limited to no perks.

A deeper look at the current card offer

Although there ’ s a distribute to like about Ally Bank, the Ally CashBack Credit Card could use a little improvement. foremost the good : There ’ s no annual fee, and you can earn a $ 100 bonus if you make $ 500 in eligible purchases within the first three months of opening the score. now the rest : There are several other cards on the grocery store that offer better rewards. flush though this menu comes with a 10 % bonus if you deposit your earnings in an Ally bank account, this still isn ’ thymine a firm enough rewards rate to choose this card over another. Ally pays an unlimited 2 % back on all eligible grocery store and accelerator outgo. If you spend $ 500 one calendar month at the supermarket and $ 500 on other purchases on the Ally CashBack Credit Card, you ’ ll earn $ 15 back in rewards, plus another 15 cents if you deposit it into your Ally report. If you spent that like $ 500 at the supermarket and another $ 500 on early purchases using a tease like the Citi Double Cash, which pays 1 % when you buy and another 1 % when you pay your bill, you ’ d earn a sum of $ 20 cash rear for the like total. There are besides cash back credit cards that pay bigger rewards specifically on groceries or gas, although these typically have spending caps or are separate of a revolve class program and full for only a limited time. still, the Ally CashBack Credit Card could stand to gain some other perks that might make it a better batting order, like an basic 0 % APR offer for example .

Other cardholder benefits

Ally Bank pays a 10 % bonus on all rewards deposited into an Ally bank explanation .

Rates and fees

  • Pay no annual fee.
  • The variable APR for purchases and balance transfers is 14.24% to 24.24% based on creditworthiness.
  • Pay a 3% foreign transaction fee on purchase made outside the U.S.
  • Balance transfer fee is $5 or 3% of the amount transferred, whichever is greater.
  • Late payments won’t affect your APR, but you may be subject to a late fee of up to $35.

To redeem your points, logarithm into your Ally explanation on-line and choose to either deposit the rewards into your account or receive them as a argument citation on your bill. You have to have a minimum of $ 25 worth of rewards in order to redeem. There is no charge to redeem your rewards.

How the Ally Cashback Credit Card compares to other cash back cards

Bankrate’s take: Is the Ally CashBack Credit Card worth it?

This wag might be right for you if you ’ re an Ally Bank customer and you ’ rhenium looking for an uncomplicated rewards credit wag. For rates and fees of the Blue Cash Everyday® Card from American Express, please click here .

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Category : Finance

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