@Kforce wrote:@Aim_High , I do not have the card, use the AOD for all my general spend.
I believe from older post that it is calculated and credited monthly on each statement.
The problem is that the rounding is not talked about and many have received the card not knowing that small spend does not earn rewards.
It takes at least 33+ to reach the threshold, not counting interest loss on the 1k (checking). Error is a fixed money swing between $200 spend's, so as a percentage fluctuates more with low spend than those with high use. 83c/$7,000 = 0.00012 while 83c/$33 = 0.025. They should have some notice that > $33 is required monthly for rewards to be received.
To be completely fair, if you're not spending more than $33 a month on the card, then what's the point to begin with? I can't leave my living room in NYC without spending that much. lol.
@northway wrote:To be completely fair, if you're not spending more than $33 a month on the card, then what's the point to begin with? I can't leave my living room in NYC without spending that much. lol.
I agree 
However posting on this forum for years a great many here collect cards for ;
Adding to overall CL.
It is pretty.
It is metal.
I don't have one from that issuer.
You can never have to many.
Need two from each issuer.
5th back up for rewards just in case the other 4 are nerfed.
Etc, Etc.
This card is not pretty, or metal, or a good sock drawer card.
.
@northway wrote:
@Kforce wrote:
The problem is that the rounding is not talked about and many have received the card not knowing that small spend does not earn rewards ... They should have some notice that > $33 is required monthly for rewards to be received.
To be completely fair, if you're not spending more than $33 a month on the card, then what's the point to begin with? I can't leave my living room in NYC without spending that much. lol.
Yes, @Kforce, there should be some obvious disclosure about the rounding on the card application webpage about that! As with many cards, it *IS* shown >in the Visa Signature Card disclosures< before you submit the application, but even that may not be clear to someone as to how it works or what they are agreeing. First, it says:
II. Rewards Programs, Including the Tiered Rewards Program, Eligible and Ineligible Purchases,
and Transactions for Earning Cash Back
(a) You will earn a cash back reward on purchases of all eligible goods and services (“eligible purchases”) with your Alliant Cashback Visa Signature card. Cash back accumulated will be stored in your account and will be rounded to the nearest dollar.
(b) Earning Cash Back Rewards
Eligible Alliant Cashback Visa Signature accounts that qualify for Tier One Rewards earn 2.5% cash back on the first $10,000 of eligible purchases per billing cycle, and unlimited 1.5% cash back on all other eligible purchases. Accounts that do not qualify for Tier One Rewards will automatically receive Tier Two Rewards (1.5% cash back on all eligible purchases).
Later it discloses:
(c) Cash back is earned on the net retail purchase transaction volume (i.e., purchases less credits, returns and adjustments) purchased on your Alliant Cashback Visa Signature card. Net purchases are rounded to the nearest dollar and are subject to verification. If a transaction is subject to a billing dispute, the cash back value of the transaction in question may be deducted from the cash back total during the dispute period. If the transaction is reinstated, the cashback will also be reinstated
So it promises a baseline of 1.5% in multiple places and never explains that the rounding is accomplished monthly or that rewards are credited monthly after the rounding.
There's a contradiction, though. In the first part, it talks about rounding cash back. In the second part, it talks about rounding the PURCHASES, not the CASH BACK to the nearest dollar, which would make more sense. In the case above with @CL-Addiq, $33.34 in PURCHASES would be rounded to $33 and paid at the 2.5% or 1.5%, and depending on the Tier, credited either $0.49 cents to $0.83 cents. So they aren't rounding down that $0.495 cents to $0.00 from the way this reads. I'd be interested in hearing from other members who have the card if they've gotten rewards at low spend.
If they are really playing games, they could round (Both) the cash back AND the purchases to totally confuse the issue! 
As to @northway's question about "whats the point" if not spending $33 a month, I have many of my cards that don't get monthly spend every month. Yes, somewhat an issue of excess utilization padding but also I've kept some accounts open for other features such as age, lender diversity, BT opportunities, etc. But honestly, I could probably downsize to five or less high limit cards and call it a day if I wanted to highly simplify, while still keeping some options open. When not meeting SUBs, even some of my normal spend cards are rotated just to keep them fresh. I don't get too hung up on always optimizing rewards categories and some of my rewards overlap anyway. Then, I've got others that are more sock-drawered and I pull them out and use them for a week or so periodically to keep from closure. I'm curious now, @northway, but out of your 37 cards in signature, how many get monthly spend? I've had my total cards into the low 20's and that seems a lot to me, so I can't imagine juggling 37 active cards monthly, much less the 50 to 100 cards I've seen a few of our other members report!
By the way, a few other less-desirable features in that disclosure:
- Cash Back redemption begins at $50 minimum.
- Cash Back can be redeemed for cash only into an Alliant CU account.
- Cash Back may take up to (5) business days to post to your account.
- Statement Credits may take up to (2) billing cycles to post.
- Cash Back expires in five years, First-In First-Out.
Yes, I recognize that if you're using the card often, these are not necessarily big problems. But when I read disclosures, it sometimes disturbs me how much is tilted towards the financial institution in some cases. I wish all cash back cards had $0 redemption and no expiration dates, like my Capital One Quicksilver. And cash back posts immediately with many lenders.
@30mm_goes_BRRRT wrote:Thanks for everyone's responses! Wow, what a weird little card the Alliant is lol. I would most definitely spend over $33 per month, but nowhere near $10K. Ah well, I'll just have to patiently wait for USAA to re-release its 2.5% card with no gimmicks..... I can dream 😂
@Aim_High 100% agree with the $0 redemption, no expiration and the immediate posting for CB. I was hoping this card was a worthy catch-all for the general spend that falls inbetween the big categories I have covered. However, there's a lot in the fine print that skews this card in an unfavorable light IMO.
I still think this is a great card for the right consumer, @30mm_goes_BRRRT. It is quirky in some ways, but for someone who will use it regularly, doens't have the AOD FCU 3% Visa Signature, and doesn't have $100K assets with BofA/ML to qualify for Preferred Rewards (and 2.625% on everything), this is a great alternative. While some of those things like the minimum redemption are an annoyance, it's still a solid earner and I've heard good things in general about Alliant. Some of our members really like them. As always, just be sure to read the fine print on any new cards so that there aren't unpleasant surprises. Each rewards program and card program may have significant variations.
@Aim_High wrote:
@northway wrote:
@Kforce wrote:
The problem is that the rounding is not talked about and many have received the card not knowing that small spend does not earn rewards ...
As to @northway's question about "whats the point" if not spending $33 a month, I have many of my cards that don't get monthly spend every month. Yes, somewhat an issue of excess utilization padding but also I've kept some accounts open for other features such as age, lender diversity, BT opportunities, etc. But honestly, I could probably downsize to five or less high limit cards and call it a day if I wanted to highly simplify, while still keeping some options open. When not meeting SUBs, even some of my normal spend cards are rotated just to keep them fresh. I don't get too hung up on always optimizing rewards categories and some of my rewards overlap anyway. Then, I've got others that are more sock-drawered and I pull them out and use them for a week or so periodically to keep from closure. I'm curious now, @northway, but out of your 37 cards in signature, how many get monthly spend? I've had my total cards into the low 20's and that seems a lot to me, so I can't imagine juggling 37 active cards monthly, much less the 50 to 100 cards I've seen a few of our other members report!
I'd say 80% of my cards get active monthly usage. I keep track of everything with Mint. Doesn't really bother me and keeps util low.
But my "what's the point" is having the card and bothering to worry about the difference between a no-hoops 2% card and this 2.5% card that requires a $1k balance and monthly DD. If you have active spend, it works and it's beneficial, especially at higher amounts.
Also, the rounding is necessarily in the house's favor. Sure if it rounds down they win, but if it rounds up, you win. It's a 50/50 and I'm not worried about $1 difference every now and then.
