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Alliant Visa Platinum Review: A Balanced Choice for Balance Transfers and Low Rates
What Is the Alliant Visa Platinum Credit Card?
The Alliant Visa Platinum is a credit card offered by Alliant Credit Union, designed for consumers seeking a low-interest option with balance transfer benefits. This card stands out for its competitive APR and lack of annual fee, making it an attractive choice for those looking to consolidate debt or make large purchases.
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Alliant Visa Platinum Pros & Cons
Pros:
- No annual fee
- Low variable APR
- Introductory 0% APR on balance transfers
- No balance transfer fee for the first 60 days
- No foreign transaction fees
- EMV chip technology for enhanced security
Cons:
- No rewards program
- Requires Alliant Credit Union membership
- Balance transfer fee after introductory period
- No welcome bonus or sign-up offer
Who Is the Alliant Visa Platinum Credit Card For?
The Alliant Visa Platinum credit card is ideal for:
- Balance transfer seekers: With its introductory 0% APR on balance transfers and no balance transfer fee for the first 60 days, it's perfect for those looking to consolidate debt.
- Low-interest rate shoppers: The card's competitive ongoing variable APR makes it suitable for consumers who occasionally carry a balance.
- Travelers: No foreign transaction fees make this card a good companion for international trips.
- Alliant Credit Union members: Existing members can easily add this card to their financial portfolio.
- Fee-averse consumers: With no annual fee, it's an excellent option for those who want to avoid extra costs.
Comparing the Alliant Visa Platinum With Other Credit Cards
When considering the Alliant Visa Platinum, it's helpful to compare it with other popular options in the credit builder card category:
Chime Credit Builder Secured Visa® Credit Card:
- Annual fee: $0
- Security deposit: Flexible, based on the amount transferred to Credit Builder account
- Key features: No credit check to apply, reports to all three major credit bureaus
- Standout feature: No minimum security deposit required
Capital One Quicksilver Secured Cash Rewards Credit Card (rate & fees):
- Annual fee: $0
- Security deposit: Minimum $200, which becomes your credit limit
- Key features: 1.5% cash back on all purchases, automatic credit line reviews
- Standout feature: Earn rewards while building credit
Current Build Visa® Credit Card:
- Annual fee: $0
- Security deposit: Flexible, based on the amount transferred to Build account
- Key features: No credit check required, reports to all three major credit bureaus
- Standout feature: Linked to Current banking app for easy fund transfers
Each card offers unique benefits tailored to different spending habits and preferences. Consider your personal financial goals when choosing the best card for you.
Key Takeaways:
- Alliant Visa Platinum excels in offering low-interest option with balance transfer benefits
- Chime Credit Builder offers flexibility with no minimum deposit
- Capital One Quicksilver Secured provides cash back rewards
- Current Build integrates with banking app for convenient use
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Consider Using Kudos
While the Alliant Visa Platinum offers solid benefits, especially for balance transfers, it's worth considering how to maximize your overall credit card strategy. This is where Kudos comes in.
Kudos is a free AI-powered browser extension that helps you optimize your credit card usage across various online retailers. It can complement your Alliant Visa Platinum by:
- Suggesting the best card to use for each purchase, ensuring you maximize rewards when shopping with other cards in your wallet.
- Helping you discover new credit cards that align with your spending habits, potentially finding options that offer both low rates and rewards.
- Multiplying your rewards up to 5X during special "Flash Boost" events, adding value to your online shopping experience.
If you're looking to get more out of your credit cards, Kudos is the best free shopping app to use when you shop online. And, they're currently offering $20 back after your first eligible purchase — just sign-up for free with code "GET20" and make a purchase at a Boost merchant.
Our Expert Takeaway
The Alliant Visa Platinum credit card is a solid choice for consumers prioritizing low interest rates and balance transfers. Its lack of annual fee and foreign transaction fees add to its appeal, making it a versatile option for various financial needs.
However, the card's lack of a rewards program may be a drawback for some. Those seeking cash back or travel rewards might want to consider other options or pair this card with a rewards-earning card for a more comprehensive credit strategy.
For Alliant Credit Union members or those willing to join, this card offers significant value, especially if you need to transfer a balance or anticipate carrying a balance occasionally. Remember to take advantage of the introductory balance transfer offer within the first 60 days to maximize your savings.
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Alliant Visa Platinum FAQ
What is the balance transfer fee for the Alliant Visa Platinum?
There's no balance transfer fee for the first 60 days after account opening. After that, a fee of 3% of the transfer amount (minimum $10) applies.
Does the Alliant Visa Platinum have foreign transaction fees?
No, the Alliant Visa Platinum does not charge foreign transaction fees, making it a good option for international travel.
Is there an annual fee for the Alliant Visa Platinum?
No, the Alliant Visa Platinum has no annual fee.
What is the regular APR for the Alliant Visa Platinum?
The regular variable APR for the Alliant Visa Platinum is based on your creditworthiness and the Prime Rate. For the most current rates, check Alliant Credit Union's website or your card agreement.
Do I need to be an Alliant Credit Union member to apply for this card?
Yes, you need to be a member of Alliant Credit Union to apply for the Alliant Visa Platinum. However, joining is relatively easy and open to many people through various eligibility criteria.
Does the Alliant Visa Platinum offer rewards?
No, the Alliant Visa Platinum does not offer a rewards program. It's primarily designed for low interest rates and balance transfers.
What credit score do I need for the Alliant Visa Platinum?
While Alliant doesn't disclose a minimum credit score, this card typically requires good to excellent credit (generally 670 or higher) for approval.
By understanding these key aspects of the Alliant Visa Platinum credit card, you can make an informed decision about whether it's the right fit for your financial needs. Remember to consider your spending habits, credit goals, and overall financial strategy when choosing a credit card.
Supercharge Your Credit Cards
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Editorial Disclosure: Opinions expressed here are those of Kudos alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
