Ally Credit Card : Still the Best Cash Back Credit Card to Apply [ $100 Bonus ]

Ally Credit Card is a Visa card-issuing by the Ally Financial Bank. The card is also popular as the Ally CashBack Credit Card.

Moreover, Ally Financial Bank is the 18th largest bank in the United States. Initially, they started their businesses in 1919 as the General Motors Acceptance Corporation.

Besides, Ally is a public company. Their Headquarters located in Michigan. The Current chairman is Franklin W. Hobbs. In addition to that, they are providing various services.

They are Car Finance, Online Banking, Mortgage Loans, and Stock Brokerage. As of 2019, 8,700 employees are working inside the company. Not to mention, the Revenue of Ally Financial in 2019 was the US $ 6.394 billion. Currently, they have more than 6 million customer base.

Ally Credit Card Rates and Fees 

  • Annual Fee for Ally Credit Card is zero.
  • They have a variable Annual Percentage Rate for purchases. Applicable rates are 15.24%, 20.24% or 25.24%.
  • Introductory Balance transfer Annual Percentage Rate is 0% for the first billing cycles. After that, the applicable rates are 15.24%, 20.24%, or 25,24%.
  • The balance transfer fee is $5 or 3% of the transfer amount, whatever is more.
  • The cash advance rate is 25.49%. This can be changed due to market conditions.
  • Cash Advance Fee is $10 or 5% of the cash advance amount, whichever is more.
  • 3% of the transaction amount is taking as the foreign transaction fee.
  • There is an interest-free period of 25 days.
  • The penalty fee is applicable up to $35.

Requirements

  • Your credit score should be 670-850.
  • No need for Security Deposit.
  • The minimum age is 18 years.

Advantages

  • Special cashback options are available on everyday spending. 
  • In gas stations and supermarkets, 2% cashback option is available with no limits.
  •  1% cashback on all other spendings through your credit card. 
  • If you redeem your cashback into another Ally account,10% bonus.
  • No need to waste money on Annual Fee.
  • Travel Accident Insurance is another benefit because of the Visa signature.
  • Extended warranties and purchase protection is also included in the card.
  • Availability of 0% Introductory Annual Percentage Rate.
  • As the sign-up bonus, you are eligible for $100 cashback. 

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Deprivations

  • After the intro period, the Annual Percentage Rate goes high.
  • Negative impact on Foreign Transactions because of the 3% fee.
  • Most of the rewards are limited to gas and groceries.
  • Fewer benefits are available to travelers.

How to Apply for the Ally Credit Card?

Ally Credit Card does not accept new applications until further notice. But the existing cardholders can enjoy the benefits and rewards without a change. There was an online portal to apply for new credit cards.

Customer Service

1-888-925-2559 is the customer service number for Ally Credit Cards. the card owner can contact a customer service agent for assistance with credit cards. There is an Auto Help Center. You can solve your issues by using the help of the center.

How to Cancel?

You can give a call to the bank and cancel your credit card. You should know all the bank policies related to canceling the credit card. The closing fees, the information should be submitted, etc.

Anyway, canceling a credit card will cause you a decrease in credit score. You should settle the outstanding amounts of your credit card before canceling it. 

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