The Alliant Visa® Platinum Credit score Card is a primary stability switch card that may assist those that wish to switch debt from one card to a different. Its $0 annual payment and introductory APR interval could make it a great choice for paying down debt with out curiosity.
However past its interest-free window, the cardboard’s lack of rewards implies that it gained’t present a lot long-term worth. A unique 0% intro APR card or stability switch card that gives rewards is likely to be a greater choice.
Listed here are 5 issues to know concerning the Alliant Visa® Platinum Credit score Card.
1. It gives a promotional interval on purchases and stability transfers …
The Alliant Visa® Platinum Credit score Card options the next intro APR provide: As little as 0% APR for 12 months on purchases and stability transfers, after which the continued APR of 10.24% – 22.24%, Variable . The stability switch is $5 or 2% of the quantity transferred — whichever is bigger.
That would make the cardboard a great choice for financing a big buy upfront and for paying down transferred debt from one other card. And the two% stability switch payment is on the low finish of what different playing cards cost.
2. … However the 0% APR is not assured
Be aware, nonetheless, that the cardboard’s intro APR interval is listed as being “as little as” 0% for 12 months. Which means that the precise charge you’ll obtain will possible be primarily based in your creditworthiness.
Candidates sometimes gained’t know in the event that they qualify for the 0% provide till after card approval.
3. It is not the one bank card from Alliant Credit score Union
The Alliant Cashback Visa® Signature Credit score Card earns a profitable 2.5% money again on as much as $10,000 in purchases per billing cycle.
The Alliant Visa® Platinum Rewards Credit score Card earns 2 factors for each $1 spent on qualifying purchases (at a price of a penny per level). It additionally gives an introductory APR interval on purchases and stability transfers.
The principle factor the Alliant Visa® Platinum Credit score Card has in widespread with its sibling playing cards is that you will want to affix Alliant Credit score Union to get your arms on one. In any other case, it differs drastically way of ongoing worth for cardholders.
4. You will not earn any rewards
If you’d like a card that may prevent cash on curiosity however that additionally earns rewards, you’ll wish to look elsewhere.
The $0-annual-fee Alliant Visa® Platinum Rewards Credit score Card, for instance, options the identical introductory charge for on purchases and stability transfers, whereas additionally incomes a superb flat rewards charge, which may make it price having even after its intro APR interval expires.
There are different choices on this class, too, that do not require you to affix a credit score union. Think about the Capital One Quicksilver Money Rewards Credit score Card, as an example, which gives a prolonged 0% intro APR on Purchases for 15 months, after which the continued APR of 15.49% – 25.49% Variable APR. It earns a strong 1.5% money again on all purchases and in addition comes with a bonus for brand spanking new account openers. You want good credit score to get it, although (sometimes FICO scores of 690 or above).
5. The cardboard is on the market to these with truthful credit score
You’ll want at the least truthful credit score to qualify for the Alliant Visa® Platinum Credit score Card. By comparability, different stability switch playing cards sometimes require good to glorious credit score (a rating of 690 or greater).
To this finish, the cardboard generally is a legitimate choice for people with decrease credit score scores who wish to switch debt from one account to a different, and who would possibly worth a decrease APR over having rewards.
Additionally, remember that issuers will sometimes think about extra elements, resembling your earnings and debt, when reviewing your card software.