topic Re: Alliant Visa Signature increases annual fee to $99 in Credit Cards

Alliant Visa Signature increases annual fee to $99

Blodreina — Sun, 07 Apr 2019 11:34:09 GMT

Unclear what happens to existing cardholders.

Re: Alliant Visa Signature increases annual fee to $99

UpperNwGuy — Sun, 07 Apr 2019 12:30:20 GMT

If this is a trend, then I predict that the NFCU Flagship will soon raise its annual fee from $49 to $95 or $99.

Re: Alliant Visa Signature increases annual fee to $99

AverageJoesCredit — Sun, 07 Apr 2019 13:07:41 GMT

This should please many here

Re: Alliant Visa Signature increases annual fee to $99

hawkins — Sun, 07 Apr 2019 13:50:24 GMT

Not a surprise at all!

Re: Alliant Visa Signature increases annual fee to $99

pizza1 — Sun, 07 Apr 2019 15:19:18 GMT

I think they need to recoup some of their money, so best way is to raise fee's. I would hope that current cardholders are grandfathered in, or at least for a few years, but I think all lenders are looking how to cut corners right now, and we will see this eventually from everyone.

Re: Alliant Visa Signature increases annual fee to $99

digitek — Sun, 07 Apr 2019 16:08:39 GMT

This changes the math so that you now need ~$20k spend per year to make it equal to a normal 2% card with no Annual Fee...

Re: Alliant Visa Signature increases annual fee to $99

UpperNwGuy — Sun, 07 Apr 2019 16:15:28 GMT

@digitek wrote:
This changes the math so that you now need ~$20k spend per year to make it equal to a normal 2% card with no Annual Fee...

The old breakeven point of $12,000 was more than I was willing to commit to this card, putting it at the bottom of my wishlist. The new breakeven point of $20,000 takes it off my wishlist completely. Alliant’s statement that the card is for those who will spend $50,000 a year is finally true.

Re: Alliant Visa Signature increases annual fee to $99

SouthJamaica — Sun, 07 Apr 2019 16:41:24 GMT

@Blodreina wrote:
Unclear what happens to existing cardholders.

Alliant seems bound and determined to lose all its customers.

I've been a non-rewards platinum card holder for around 5 years, and used it primarily for no-fee balance transfers. Now they've added a balance transfer fee and raised their cash advance fee. Their interest rates were already much higher than my other credit union platinum cards. So the card has become worthless to me.

Now it seems they're going after their cash back card with the same idea in mind: losing all their customers. There are so many excellent cash back cards out there with no annual fee, why on earth would anyone pay a $99 annual fee for theirs?

Re: Alliant Visa Signature increases annual fee to $99

Kforce — Sun, 07 Apr 2019 16:43:19 GMT

@UpperNwGuy wrote:
@digitek wrote:
This changes the math so that you now need ~$20k spend per year to make it equal to a normal 2% card with no Annual Fee...
The old breakeven point of $12,000 was more than I was willing to commit to this card, putting it at the bottom of my wishlist. The new breakeven point of $20,000 takes it off my wishlist completely. Alliant’s statement that the card is for those who will spend $50,000 a year is finally true.

It takes over $100,000/yr to hit 2.45%, that would round up to 2.5%

At $25,000 a yeay it is a 2.1% card

A big spender that needs no FTF (maybe), but big spenders that travel have travel cards (No FTF) and points that put 2.1 - 2.4 cashback to shame !

Re: Alliant Visa Signature increases annual fee to $99

wasCB14 — Sun, 07 Apr 2019 19:52:36 GMT

For anyone with the income to spend $50k/year on a credit card, having $100k in retirement/cash/taxable accounts at BofA seems like a pretty low requirement for Platinum Honors on the Travel or Premium Rewards cards (2.625%). Premium Rewards has a $95 AF but a $100 airfare extras credit.

I never had any interest in this card, even at the old $59 AF.

Re: Alliant Visa Signature increases annual fee to $99

pinkandgrey — Sun, 07 Apr 2019 20:38:08 GMT

This is actually good news to me lol. I’ve wanted this one for awhile but I don’t think it would be worth it in the long run. I’ll just stick with my no-AF DC.

Re: Alliant Visa Signature increases annual fee to $99

Anonymous — Sun, 07 Apr 2019 21:42:19 GMT

@pinkandgrey wrote:
This is actually good news to me lol. I’ve wanted this one for awhile but I don’t think it would be worth it in the long run. I’ll just stick with my no-AF DC.

Same, I was gonna try to get it next year after I graduated and found a better job, but now I'll just use my DC and app for a better travel card in the future. Sure makes that USAA Limitless card a one-hit wonder!

Re: Alliant Visa Signature increases annual fee to $99

UncleB — Sun, 07 Apr 2019 21:29:45 GMT

@Anonymous wrote:
@pinkandgrey wrote:
This is actually good news to me lol. I’ve wanted this one for awhile but I don’t think it would be worth it in the long run. I’ll just stick with my no-AF DC.
Same, I was gotta try to get it next year after I graduated and found a better job, but now I'll just use my DC and app for a better travel card in the future. Sure makes that USAA Limitless card a one-hit wonder!

Yep, getting the Limitless as soon as it was available in my state was one of the smarter credit moves I've made.

I considered waiting until my scores were stronger, but something told me not to wait. I did end up getting a high APR, but I would never carry a balance on it anyway so it doesn't really matter.

Re: Alliant Visa Signature increases annual fee to $99

Anonymous — Sun, 07 Apr 2019 21:46:45 GMT

@UncleB wrote:
@Anonymous wrote:
@pinkandgrey wrote:
This is actually good news to me lol. I’ve wanted this one for awhile but I don’t think it would be worth it in the long run. I’ll just stick with my no-AF DC.
Same, I was gotta try to get it next year after I graduated and found a better job, but now I'll just use my DC and app for a better travel card in the future. Sure makes that USAA Limitless card a one-hit wonder!
Yep, getting the Limitless as soon as it was available in my state was one of the smarter credit moves I've made.

I considered waiting until my scores were stronger, but something told me not to wait. I did end up getting a high APR, but I would never carry a balance on it anyway so it doesn't really matter.

Unfortunately, I really wasn't in the CC game at the time (had a few cards with 0% APR balances on them, my scores sucked, and my wife wasn't happy lol). Looking back now I really wished I had my debt under control, my early college years messed me up and made some opportunities unavailable. Here's to hoping it reopens for apps or a equally good card comes along!

Re: Alliant Visa Signature increases annual fee to $99

JamP — Sun, 07 Apr 2019 22:40:14 GMT

I love this card but I am still within the first year.

I haven't seen anything that my annual fee is changing. One of the main reasons to get this card was no annual fee the first year and a lower annual fee after.

If it does, I will try to product change to the other card rewards card at the end of the first year.

I don't think the limitless card was ever offered in my state.

Re: Alliant Visa Signature increases annual fee to $99

Revelate — Sun, 07 Apr 2019 22:58:26 GMT

Well the fact is the overwhelming absurd numbers of consumers don’t know credit card rewards in general.

Even here when that card was released there was a ZOMG response... and I think that was before the introduction of the BOFA relationship rewards.

I think ultimately one has to simply remain flexible with one’s portfolio and credit so when a better opportunity comes along you can pounce... and know that your GODLIKE! card (CSR for me) will change at some point and probably no longer be the best... or like this Alliant card, no longer really in the conversation.

Re: Alliant Visa Signature increases annual fee to $99

Anonymous — Mon, 08 Apr 2019 00:40:17 GMT

@Revelate wrote:
Well the fact is the overwhelming absurd numbers of consumers don’t know credit card rewards in general.

Even here when that card was released there was a ZOMG response... and I think that was before the introduction of the BOFA relationship rewards.

I think ultimately one has to simply remain flexible with one’s portfolio and credit so when a better opportunity comes along you can pounce... and know that your GODLIKE! card (CSR for me) will change at some point and probably no longer be the best... or like this Alliant card, no longer really in the conversation.

Yes, pounce early and be flexible. A lot of my great cards eventually got nerfed, but by being early in the game I was able to get good use out of them (This includes, uncapped BCP, uncapped Cash +, 5x TYP). More recently I was very late to the Paypal Debit thing, and so only got 2-3 months of use. (I encourage those that can use it to look at the Square Cash card!)

A lot of people get stuck on goals, such as the Chase Trifecta, without questioning if that is still the best choice in the face of changing competition (in that case, changes to Amex Gold for example)

Re: Alliant Visa Signature increases annual fee to $99

Anonymous — Mon, 08 Apr 2019 09:12:52 GMT

@SouthJamaica wrote:
@Blodreina wrote:
Unclear what happens to existing cardholders.
Alliant seems bound and determined to lose all its customers.

I've been a non-rewards platinum card holder for around 5 years, and used it primarily for no-fee balance transfers. Now they've added a balance transfer fee and raised their cash advance fee. Their interest rates were already much higher than my other credit union platinum cards. So the card has become worthless to me.

Now it seems they're going after their cash back card with the same idea in mind: losing all their customers. There are so many excellent cash back cards out there with no annual fee, why on earth would anyone pay a $99 annual fee for theirs?

Remember PT Barnum's comment: "there's a sucker born every minute"

Re: Alliant Visa Signature increases annual fee to $99

UpperNwGuy — Mon, 08 Apr 2019 12:40:08 GMT

@Anonymous wrote:
@SouthJamaica wrote:
@Blodreina wrote:
Unclear what happens to existing cardholders.
Alliant seems bound and determined to lose all its customers.

I've been a non-rewards platinum card holder for around 5 years, and used it primarily for no-fee balance transfers. Now they've added a balance transfer fee and raised their cash advance fee. Their interest rates were already much higher than my other credit union platinum cards. So the card has become worthless to me.

Now it seems they're going after their cash back card with the same idea in mind: losing all their customers. There are so many excellent cash back cards out there with no annual fee, why on earth would anyone pay a $99 annual fee for theirs?
Remember PT Barnum's comment: "there's a sucker born every minute"

Very true.... but remember, we are not talking about a bank. We're talking about a credit union that is supposed to protect the interests of its members. There aren't supposed to be suckers in the credit union environment.

Re: Alliant Visa Signature increases annual fee to $99

Anonymous — Mon, 08 Apr 2019 13:14:01 GMT

@UncleB wrote:
@Anonymous wrote:
@pinkandgrey wrote:
This is actually good news to me lol. I’ve wanted this one for awhile but I don’t think it would be worth it in the long run. I’ll just stick with my no-AF DC.
Same, I was gotta try to get it next year after I graduated and found a better job, but now I'll just use my DC and app for a better travel card in the future. Sure makes that USAA Limitless card a one-hit wonder!
Yep, getting the Limitless as soon as it was available in my state was one of the smarter credit moves I've made.

I considered waiting until my scores were stronger, but something told me not to wait. I did end up getting a high APR, but I would never carry a balance on it anyway so it doesn't really matter.

Amend! Sad part is that USAA did not open it up to Veterans in every state (at least once) as that seems the fairest way