amalone1013
DIS Veteran
- Joined
- Jan 15, 2016
The Ally Bank Visa card offers a 2% rebate on gas and groceries and if you have an Ally bank account (checking, savings or money market), you also earn a 10% bonus if you redeem your cashback into the account.
For example, I have an Ally money market account and I have it set up so that I get $75 every paycheck transferred into it. I received a debit/ATM card so I can access the money any time I need it, but I have it all earmarked for vacation money. I just opened the Ally Visa card too and they offered a $100 bonus after spending $500 in the first three months....not a problem. When I redeemed the cashback, instead of getting a $100 check or statement credit, I opted to have it deposited into my money market account and I received $110 instead. The minimum to redeem is $25 but you don't have to do it in $25 increments. The biggest downside (and when you are saving for a vacation, it's actually a plus) is that the funds often take several days before they become available. They are getting better, but it is still 2-3 days before the money from my paycheck (which is initially DD'd into my B&M bank and transferred electronically to Ally) is actually available for me to use. In reality, I use the credit card to make my vacation-related purchases and then pay it off from the money market account.
That's good info, I have a savings account with them but hadn't paid much attention to their credit cards. Thanks!