Unlike most of the banks that are presented on our website, Ally Bank offers only one credit card. This article will disclose to you all the benefits and features of the rewards credit card from Ally Bank, which will help you to evaluate whether it is worth applying for it. Also, you will learn how to access this credit card online (if you have already got one) or how to apply for it.
- Ally CashBack Credit Cards: Benefits and Drawbacks
- How to Log In To Ally Credit Card Online
- How to Apply for an Ally Bank Credit Card
- Compare Ally Bank Cash Back Credit Cards
Ally CashBack Credit Cards: Benefits and Drawbacks
Annual fee: $0.
Purchase APR: from 13.24% to 23.24%.
Recommended credit score: not known.
Most suitable for: people who already have an account with Ally Bank and/or customers who spend a lot on grocery and gas.
Credit card features:
- 0% intro APR on balance transfers during the first 12 months.
- You will get a $100 welcome bonus if you manage to spend at least $500 during the first three months.
- 2% cash back on purchases made at groceries and gas stations.
- 1% cash back on all other purchases.
- You will get a 10% deposit bonus with Ally Bank if you deposit your rewards into an eligible bank account.
Unfortunately, Ally Bank does not have many credit cards on offer for its customers. As of the present time, one may only apply for one credit card of this bank: Ally CashBack Credit Card. This is a solid card for everyday purchases, and it would be a great choice for anyone who already has a bank account with Ally Bank.
Among the top features of this credit card, one should definitely mention the 2% cash back rewards on purchases made at groceries and gas stations. Besides, those rewards may be boosted up to 2.2% if they will be deposited into an Ally Bank account.
But regarding purchases made elsewhere, this credit card offers the meager cash back rewards of just 1% – that is far lower than what some other credit cards offer (like Wells Fargo Cash Wise, for example). But overall, cash back rewards of Ally Cash Back Credit Card are quite decent.
There are several other features of the card to be pointed out. This Ally Bankcard offers a welcome bonus worth $100 – you will be eligible for it if you succeed to spend at least $500 during the first 90 days. Even though this bonus is not bad overall, credit cards from other banks (like Chase Freedom) offer more generous welcome bonuses.
Another benefit that this card offers is a 0% intro APR period on balance transfers during the first 12 months. This means that if you have an outstanding debt on another credit card, you can transfer it to this Ally Bank credit card and pay it off much quicker (due to the fact that you will not have to pay the interest rate during these 12 months).
However, you must keep in mind that you will be charged a balance transfer fee of either 3% or $5 (whichever is greater) – yet, it would remain a pretty good deal. After the 0% intro APR period expires, your APR will be somewhere from 13.24% to 23.24%, depending on your credit score.
To sum up, Ally Cash Back Card offers a pretty decent reward rate for purchases made at gas stations and groceries. On the other hand, all the other features and benefits of this credit card seem far bleaker than some credit card options from other banks. Thus, we would recommend you to apply for this credit card if you either need to transfer your outstanding debt from another card or already have an Ally Bank account.
How to Log In To Ally Credit Card Online
Once you have obtained a credit card from Ally Bank, you can manage it without stepping out of your home. This will allow you not only to get your credit card statements, but also make payments, pay your bills, and many other things. As you will notice from this part of the article, there is definitely nothing difficult in accessing your Ally credit card through the web.
This is the way how you can access your credit card from Ally Bank online:
- In the first place, you have to launch a new tab in your browser and access the following webpage: https://www.ally.com/.
- On the main webpage of the Ally Bank website, you will get to see a menu, placed at the top. There, you have to go to Credit Card > Manage Your Ally CashBack Credit Card.
- On the following page, you should select what type of an account you want to access: only your credit card (Credit Card Only) or your credit card along with other accounts (Credit Card and Other Accounts). Then, click on the “Submit” button.
- Right after that, you will get to see a “Log In” button – give it a click.
- In the pop-up window that you have just got to see, you have to click on the “Continue” button.
- On the next page, you should enter your username in the first field and your password in the second field.
- Once you have done that, you can click on the “LOG IN” button and access your credit card with Ally Bank.
- You may also be asked security questions after you do that. So, if you are asked any of those questions, make sure that you provide the correct answers. If you do so, you will access your credit card without any problems.
How to Apply for an Ally Bank Credit Card
One of the really good things about Ally Bank is that you can apply for its cash back credit card online. Indeed, the entire process envisages that you provide all the necessary information about yourself and your financial history, which may take quite a while. But overall, this part of the article demonstrates how to apply for this cash back credit card through the web.
You are able to apply for an Ally Bankcard online in this simple way:
- Start by launching a new tab in your browser and going to the following webpage: https:/www.ally.com/.
- On the main webpage of Ally Bank, you should click on the “Credit Card” menu option, which can be found on the main menu at the top.
- Then, you should click on the “Ally CashBack Credit Card” option and proceed further.
- Eventually, you will end up seeing the page of this credit card from Ally Bank, describing all its features and benefits. At that point, you should tap on the “Apply Now” button and proceed further.
- Following it, you will get to see a pop-up window, in which you should click on the “Continue” button and move on.
- Now, you have just got to see the application form for this cash back credit card. At this point, you have to fill out all the fields and provide all the required personal information.
- Then, you can add the info about the credit cards that you already have and proceed further.
- Following it, you can opt to transfer a balance of the specified credit card to the new Ally Bank card that you will receive.
- Eventually, you should agree with all the terms and conditions and complete the application process.
- It is likely that you will get the result of your application (getting approved or rejected) within a few minutes or, at maximum, hours.
Compare Ally Bank Cash Back Credit Cards
As you could understand from this article, Ally Bank credit card can offer only very moderate rewards. This section will help you compare this credit card against other cards, reviewed on this website.
Ally Cash Back Card vs Chase Freedom Card
When it comes to comparing Ally Bank credit card against Chase Freedom, the credit card from Ally loses virtually in every aspect. For instance, the welcome bonus that Chase Freedom offers is worth $150 (compared to $100 from Ally Bank), and you receive it if you manage to spend $500 within the first three months (same as for Ally credit card).
With a Chase card, you get a 0% intro APR period on both purchases and balance transfers during the first 15 months – that’s far more generous than the 12-month long 0% intro APR period only on balance transfers from Ally.
Apart from that, it is worth to mention that the Chase Freedom credit card also makes you eligible to join the Ultimate Rewards program from Chase Bank. Regarding the rewards, they are more generous with Chase Freedom Card, too. You will get as much as 5% cash back on rotating categories, which change every quarter – that’s more than 2% cash back at groceries and gas stations, offered by Ally.
If you don’t match the rotating categories, you will enjoy the moderate 1% cash back with this credit card from Chase. But the same stands for Ally Bank: its cash back card grants you only 1% cash back on purchases made elsewhere than gas stations and groceries.
If your credit score allows you, we highly recommend you to apply for the Chase Freedom card. You should pursue the cash back credit card from Ally Bank only if you have an account with this bank, frequently store at gas stations or groceries (but there are far better cards for this purpose), or you aren’t eligible for anything better.
Ally Cash Back Card vs Chase Freedom Unlimited Card
Chase Freedom Unlimited is another decent competitor from Chase Bank, which completely beats the cash back credit card from Ally Bank. Unlike Ally’s card, it comes with a welcome bonus of $150 if you succeed to spend $500 within the first three months.
Same as Chase Freedom, it offers a 0% intro APR period on purchases and balance transfers, which is far better than what the Ally credit card offers.
A really great thing about Chase Freedom Unlimited is that it offers 1.5% cash back rewards on all purchases. Additionally, that reward rate may be boosted up to 1.875%, which is slightly lower than what Ally Cash Back credit card offers at gas stations and groceries. But the difference is that you will enjoy that cash back rewards rate anywhere you decide to shop! Considering that as long as your Chase Bank account remains open, your rewards don’t expire, that’s a pretty lucrative deal.
Unfortunately, Ally credit card heavily loses to the top credit card from Chase Bank.
If your credit score matches the requirements, we highly recommend you to rather consider applying for a credit card from Chase.
Ally Cash Back Card vs Wells Fargo Cash Wise Visa
Cash Wise Visa Card from Wells Fargo is one of those credit cards that may easily compete with the credit card from Ally Bank. Even though it offers a welcome bonus of $200 (twice as high as what Ally card offers), you need to spend a total of $1,000 within the first three months to be eligible for that bonus (also twice as high).
Same as the card from Ally, the Wells Fargo card comes with a 3% foreign transaction fee.
The card from Wells Fargo offers you a 1.5% cash back rewards rate on all purchases, which is higher than what Ally Bank offers – save purchases made at groceries and gas stations.
But if you don’t frequently shop at gas stations and groceries, the card from Wells Fargo would be far lucrative for you. Additionally, you will get the 8 % rewards rate on all purchases made in mobile wallets that have been qualified by Wells Fargo.
On top of that, the Wells Fargo card comes with a bunch of features (such as the cell phone protection), which aren’t decisive but which simply offer a far more pleasant experience. If you tend to spend a lot and planning to spend at least $1,000 within the next three months, you should definitely favor Wells Fargo Cash Wise Visa Card.