There's a cap on rewards
Let's be realistic: The average person probably doesn't put $10,000 on a single credit card every month, so most people won't be affected by the rewards cap on the Alliant Cashback Visa® Signature Credit Card.
But if you’re a big spender, you might conceivably bump up against that ceiling. To maximize your earnings, you could pair it with a card that earns elevated rewards on certain categories. For instance, the $0-annual-fee U.S. Bank Altitude® Go Visa Signature® Card earns 4% back on restaurants, which is a top-notch rate for foodies. You could put all of your dining purchases on the U.S. Bank Altitude® Go Visa Signature® Card and use the Alliant Cashback Visa® Signature Credit Card for everything else.
Credit union membership required
The Alliant Cashback Visa® Signature Credit Card requires an Alliant Credit Union membership, but anyone can qualify. You can become a member if you're a current or retired employee at an organization partnered with the credit union, a relative of a member or a resident living or working in a qualifying Chicago-area community. Or, if you don't meet those requirements, you can join by becoming a member of Foster Care to Success, Alliant's partner charity. If you choose the latter option, Alliant will pay the $5 membership fee to the group on your behalf.
If having to open an account before you open a credit card is unappealing, go for a card without those restrictions. One to look at: The $0-annual-fee Citi Double Cash® Card, which earns 2% back on all purchases — 1% when you make your purchase and another 1% when you pay your bill.
Lots of requirements for elevated rewards
If you want simplicity and the chance to earn a higher rewards rate without all of the requirements that come with the Alliant Cashback Visa® Signature Credit Card, the $0-annual-fee Chase Freedom Unlimited® is one to consider. Like this card, it earns a decent ongoing 1.5% cash back on all purchases. Plus, you can get 5% back on travel purchased through Chase, 3% back at restaurants and 3% back on drugstore purchases. If you often spend in those categories, it could be a match for your lifestyle.
You won't earn a sign-up bonus
As long as you meet all the requirements, the Alliant Cashback Visa® Signature Credit Card has one of the highest rewards rates available on any flat-rate card. But depending on how much you spend, you could be better off choosing a card with a lower rewards rate, as long as it has a sign-up bonus. Take the Wells Fargo Active Cash® Card. You'll earn 2% back on all purchases, and it comes with this welcome offer: Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months.
Depending on how much you spend, it could take several years to earn more cash back with the Alliant Cashback Visa® Signature Credit Card, once you factor in the Wells Fargo Active Cash® Card's welcome offer.
Rewards expire
Unlike the rewards on some cash-back cards, the cash back earned on the Alliant Cashback Visa® Signature Credit Card will expire in December of the fourth calendar year following the year they were earned. So any rewards you earned in 2021 will expire in December 2025.
To see more options, visit our roundup of top credit cards.