Alliant Visa® Platinum Credit Card review
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Alliant Visa® Platinum Credit Card Overview
The Alliant Visa® Platinum Credit Card is a great balance transfer credit card option for borrowers looking to transfer a balance from high-interest cards. With an introductory APR as low as 0 percent for the first 12 months (10.24 percent to 22.24 percent variable APR after), this card can help you save money on interest while working toward becoming debt-free. The card doesn’t feature any points or cash back rewards, so it’s not the best fit for borrowers looking to earn rewards while they spend. But for those looking to pay down debt, it’s well worth taking advantage of the introductory APR.
What are the pros and cons?
- No rewards or cash back
- Balance transfer fee
- Foreign transaction fee
A deeper look into the current card offer
- Rewards rate: N/A
- Welcome offer: N/A
- Annual fee: $0
- Purchase intro APR: As low as 0% APR for 12 months
- Balance transfer intro APR: As low as 0% APR for 12 months
- Regular APR: 10.24% to 22.24% variable APR
Current welcome offer
The Alliant Visa Platinum currently features an as low as 0 percent introductory APR on both purchases and balance transfers (10.24 percent to 22.24 percent variable APR after) as a welcome offer. This offer makes the card an attractive choice for borrowers looking to pay down high-interest credit card debt. It’s also a good pick for those looking to finance a larger purchase that they’ll need extra time to pay off the balance for.
The card charges a balance transfer fee of 2 percent of the amount transferred, with a $5 minimum, which can add up if you plan on transferring a larger balance. That said, the fee usually pays for itself when it comes to the money you’ll save on interest in the first year.
Key cardholder perks
This card’s main benefit is the generous as low as 0 percent introductory APR for the first 12 months on both purchases and balance transfers (after that, the APR increases to a variable 10.24 percent to 22.24 percent). The Alliant Visa Platinum also features a $0 annual fee, generous credit lines and a $0 fraud liability guarantee, among other benefits.
The card’s low introductory APR offer is perfect for consolidating and paying down high-interest credit card debt. It’s also a great choice if you’re looking to finance a major purchase and need a little extra time to pay it off.
No annual fee
Unlike some other credit cards, the Alliant Visa Platinum doesn’t charge an annual fee. This makes it an affordable option for borrowers on a budget looking to limit fees and extra charges.
Generous credit lines
While the exact size of the credit line you’ll qualify for will depend on your individual situation, Alliant emphasizes the generous credit lines associated with this card. When combined with the low introductory APR, a generous credit line is great for paying down debt, financing purchases and managing cash flow. It can also help you to decrease your credit utilization ratio and boost your credit score.
Fraud liability guarantee
The Alliant Visa Platinum features a $0 liability guarantee, which can come in handy if anyone attempts to make a fraudulent purchase using your card. The guarantee is part of Visa’s zero liability policy when it comes to credit card fraud and applies to any item purchased with your physical card or card number, including purchases made through the Internet.
The card automatically comes with an EMV chip, increasing card security and preventing fraudulent charges. Short for Europay, Mastercard and Visa, EMV technology is becoming an increasingly common feature among major credit card providers. The card still retains a magnetic stripe for card processors that haven’t yet made the switch to chip technology.
Compatible with Google Pay, Apple Pay and Samsung Pay
If you use Google Pay, Apple Pay or Samsung Pay, you can easily add this card to your digital wallet. This helps to facilitate contactless payment and seamless online purchases from your phone or computer.
This is another Visa credit card benefit that can come in handy in a pinch, especially if you don’t already have roadside coverage through another service. As a cardholder, you have 24/7 access to Visa’s Roadside Dispatch service, which is a pay-per-use service that helps connect you with automotive service technicians for towing, tire changes, jump starts, lockouts and more.
Auto rental collision damage waiver
Another Visa benefit, the auto damage collision waiver, allows you to skip the collision damage waiver or any similar alternative offered (and sometimes even required) by rental car companies. The benefit only applies if you complete the entire rental car transaction using your Visa card.
24/7 customer service
If you have any questions or concerns regarding your card, Alliant features helpful round-the-clock customer service. Whether you’re having technical issues or just have a question about your card or balance, you can call Alliant at any time for assistance.
Alliant allows you to set up automatic payments for your card, which can help ensure that you pay your bill on time each month and avoid late fees and other penalties. You can set up automatic payments when you apply for the card and can change your payment method whenever you need to.
You can view your balance, make payments, review your card history and more on Alliant’s website or mobile app. While online and mobile banking is a common feature now offered by most banks, it’s still a nice extra perk for those who want to manage their money on the go.
Rates and fees
After the initial low introductory APR period, the Alliant Visa® Platinum credit card charges a variable APR of 10.24 percent to 22.24 percent variable APR. These rates are in line with industry standards and may present a better deal for borrowers currently stuck with high-interest credit card debt.
While the Alliant Visa Platinum doesn’t charge an annual fee, several other fees are associated with the card. There’s a balance transfer fee of $5 or 2 percent of the amount of each transfer, whichever is greater. There’s also a foreign transaction fee of 2 percent of each transaction, which means this card may not be a good fit for frequent international travelers. Finally, there are late payment and return payment fees of up to $27.
How the Alliant Visa Platinum Credit Card compares to other balance transfer cards
While the Alliant Visa Platinum is an attractive option for borrowers looking to transfer a balance from another card, there are several other balance transfer and rewards credit cards worth considering.
The Alliant Visa® Platinum Rewards Credit Card is a good option if you’re interested in a card from Alliant but want to earn rewards on purchases. The card earns 2X points per $1 spent and has the same term length for the low-interest introductory APR. The APR after the balance transfer is slightly higher (13.24% to 23.24% variable APR) than the Alliant Visa Platinum, so it might not be the best option for borrowers who plan on carrying a balance on the card after the first 12 months.
The U.S. Bank Visa® Platinum Card is another solid option for borrowers looking for a balance transfer credit card. The main perk of this card is the 20-billing cycle 0 percent introductory APR period on purchases and balance transfers (16.74 percent to 26.74 percent variable APR after), giving borrowers plenty of time to pay down high-interest credit card debt or major purchases. Again, the APR after the introductory period is slightly higher, making it a less ideal fit for borrowers who plan on carrying a balance on the card after the initial low-interest APR period is over.
Best cards to pair the Alliant Visa Platinum Credit Card with
Since the Alliant Visa Platinum doesn’t feature any rewards or cash back, it’s a natural fit to pair it with another rewards credit card. This is an especially good idea if you plan to use the Alliant card primarily for paying down balance transfers while putting everyday expenses on another card.
If you have a lot of expenses in a particular category, like dining or travel, a rewards credit card with bonuses in these categories could help you to earn more while you spend. Alternatively, if you’re just looking for a simple, straightforward rewards credit card, a cash back credit card with no annual fee may be a good fit.
Bankrate’s Take—Is the Alliant Visa Platinum Credit Card worth it?
The Alliant Visa Platinum is a great deal for borrowers interested in paying down high-interest credit card debt. The low-interest introductory offer on balance transfers and purchases can help cardholders pay down debt more quickly. The card also has a $0 annual fee, making it a good option for borrowers on a budget.
Aside from the low introductory APR, the card is light on other perks. It doesn’t come with a rewards program, making it a less than ideal fit for borrowers looking for a robust rewards credit card. But for those looking to transfer a balance and take advantage of the yearlong introductory rate, it’s a good option that could save them a significant chunk of change in interest payments.
The information about the Alliant Visa® Platinum Credit Card has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.