Alliant Credit Union Signature VISA

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MikeG62
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Alliant Credit Union Signature VISA

Post by MikeG62 » Fri Jul 21, 2017 3:36 pm

Applied for the Alliant Signature VISA card yesterday. Received a call today that they wanted complete copies of my tax returns for the last two years to verify my income. I told them that I retired in 2016 and therefore have not even filed a full year tax return yet that reflects me as a retired person. The CS rep did not care, still wanted my last two full year tax returns including all schedules. I told him that is not going to happen (not giving anyone copies of my tax returns) and he should just cancel the application.

So the takeaway is if you are retired and want this CC, you should be aware they will apparently ask for copies of your tax returns. If you are like me and won't share this highly confidential information, save yourself the time and bother of applying.

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Voltron
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Re: Alliant Credit Union Signature VISA

Post by Voltron » Tue Aug 08, 2017 2:27 pm

Interesting. I posted an application for same Signature VISA today. The 2.5% cash rewards is what drew me to this card. I am not retired so will see what happens. I'll keep you posted.

Jags4186
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Re: Alliant Credit Union Signature VISA

Post by Jags4186 » Tue Aug 08, 2017 2:33 pm

I don't think I even have $11,800 in unbonused spend a year for it to make sense to pay the $59 annual fee on this card. Not worth it at all IMO.

You could just sign up for 1 new card every year with a cash bonus and likely make out significantly better than you can with this card--and not have to send in your tax returns...

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flamesabers
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Re: Alliant Credit Union Signature VISA

Post by flamesabers » Tue Aug 08, 2017 3:10 pm

Voltron wrote:Interesting. I posted an application for same Signature VISA today. The 2.5% cash rewards is what drew me to this card. I am not retired so will see what happens. I'll keep you posted.
I use USAA's Limitless Visa to get 2.5% cashback rewards. To get the 2.5% rate I have to push $1k every month from my Vanguard MM account to my USAA checking account, but the card doesn't have an annual fee, neither did I have to submit my tax returns to get the card. :P

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Voltron
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Re: Alliant Credit Union Signature VISA

Post by Voltron » Tue Aug 08, 2017 3:29 pm

flamesabers wrote:
Voltron wrote:Interesting. I posted an application for same Signature VISA today. The 2.5% cash rewards is what drew me to this card. I am not retired so will see what happens. I'll keep you posted.
I use USAA's Limitless Visa to get 2.5% cashback rewards. To get the 2.5% rate I have to push $1k every month from my Vanguard MM account to my USAA checking account, but the card doesn't have an annual fee, neither did I have to submit my tax returns to get the card. :P
Too bad I'm not connected with any military to take advantage of that.

rec7
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Re: Alliant Credit Union Signature VISA

Post by rec7 » Tue Aug 08, 2017 3:45 pm

MikeG62 wrote:Applied for the Alliant Signature VISA card yesterday. Received a call today that they wanted complete copies of my tax returns for the last two years to verify my income. I told them that I retired in 2016 and therefore have not even filed a full year tax return yet that reflects me as a retired person. The CS rep did not care, still wanted my last two full year tax returns including all schedules. I told him that is not going to happen (not giving anyone copies of my tax returns) and he should just cancel the application.

So the takeaway is if you are retired and want this CC, you should be aware they will apparently ask for copies of your tax returns. If you are like me and won't share this highly confidential information, save yourself the time and bother of applying.
That is standard at most credit unions and banks if you are retired.
Disclaimer: You might lose money doing anything I say. Although that was not my intent. | Favorite song: Sometimes He Whispers Jay Parrack

MikeG62
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Re: Alliant Credit Union Signature VISA

Post by MikeG62 » Tue Aug 08, 2017 4:46 pm

rec7 wrote:...That is standard at most credit unions and banks if you are retired.
It is not standard practice at banks. Applied for and obtained the Chase Sapphire Reserve card in February of this year (retired in early 2016) and was approved without issue. DW applied for and obtained Chase United Explorer card last month. Again, approved without issue or hoop jumping.

Was approved for new car lease two weeks ago (Audi Financial) and again no issues.

I think some of these small credit unions are just very, very conservative. I would have been a big customer on that card (annual charges on that card >$50K), but I'll use my Fidelity 2% CB card instead.

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jriding
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Re: Alliant Credit Union Signature VISA

Post by jriding » Tue Aug 08, 2017 4:46 pm

I recently received the signature Visa. They requested by last two pay stubs a few days after I submitted my application.
I'm not retired and they didn't ask for any tax returns.

rec7
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Re: Alliant Credit Union Signature VISA

Post by rec7 » Tue Aug 08, 2017 8:20 pm

MikeG62 wrote:
rec7 wrote:...That is standard at most credit unions and banks if you are retired.
It is not standard practice at banks. Applied for and obtained the Chase Sapphire Reserve card in February of this year (retired in early 2016) and was approved without issue. DW applied for and obtained Chase United Explorer card last month. Again, approved without issue or hoop jumping.

Was approved for new car lease two weeks ago (Audi Financial) and again no issues.

I think some of these small credit unions are just very, very conservative. I would have been a big customer on that card (annual charges on that card >$50K), but I'll use my Fidelity 2% CB card instead.
I should have said credit unions.
Disclaimer: You might lose money doing anything I say. Although that was not my intent. | Favorite song: Sometimes He Whispers Jay Parrack

takeshi
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Re: Alliant Credit Union Signature VISA

Post by takeshi » Wed Aug 09, 2017 9:29 am

Some creditors are more conservative than others. Consider that AmEx also uses tax return data (via the 4506-T) for income verification and that's regardless of whether you're retired or not.

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Voltron
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Re: Alliant Credit Union Signature VISA

Post by Voltron » Wed Aug 09, 2017 6:43 pm

Update:

So it gets better (sarcastically). So I upload my tax returns, my K1, last two pay stubs, utilities bill and the application processors are still not happy. They want a utility bill in my name, not wife's. They want W2's. well, I don't get W2's..I get K1's. What is tipping it over the edge is they want copies of social security cards! I sent them a message that social security's website states most organizations do not need a copy of the social security card and can simply verify with them.

Really? Talk about conservative. I have a high credit score but doesn't mean anything.

I am getting more, and more frustrated with this. I want an ultimate cash rewards card with 2% or more payback, and this is not turning to be a simple solution, especially if you have to pay a fee every year.

MikeG62
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Re: Alliant Credit Union Signature VISA

Post by MikeG62 » Wed Aug 09, 2017 6:49 pm

Voltron wrote:Update:

So it gets better (sarcastically). So I upload my tax returns, my K1, last two pay stubs, utilities bill and the application processors are still not happy. They want a utility bill in my name, not wife's. They want W2's. well, I don't get W2's..I get K1's. What is tipping it over the edge is they want copies of social security cards! I sent them a message that social security's website states most organizations do not need a copy of the social security card and can simply verify with them.

Really? Talk about conservative. I have a high credit score but doesn't mean anything.

I am getting more, and more frustrated with this. I want an ultimate cash rewards card with 2% or more payback, and this is not turning to be a simple solution, especially if you have to pay a fee every year.
Alliant is truly ridiculous. How they would expect people to continue to push forward with the application after all these crazy requests is beyond me. I shut it down when they asked for copies of my tax returns.

Just applied and was approved for the Citibank AAdvantage MC last night. Again, no hoop jumping at all. Was approved instantly.

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flamesabers
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Re: Alliant Credit Union Signature VISA

Post by flamesabers » Thu Aug 10, 2017 8:28 am

Voltron wrote:Update:

So it gets better (sarcastically). So I upload my tax returns, my K1, last two pay stubs, utilities bill and the application processors are still not happy. They want a utility bill in my name, not wife's. They want W2's. well, I don't get W2's..I get K1's. What is tipping it over the edge is they want copies of social security cards! I sent them a message that social security's website states most organizations do not need a copy of the social security card and can simply verify with them.

Really? Talk about conservative. I have a high credit score but doesn't mean anything.

I am getting more, and more frustrated with this. I want an ultimate cash rewards card with 2% or more payback, and this is not turning to be a simple solution, especially if you have to pay a fee every year.
I think all of these "requirements" are a definite sign the bank doesn't really want your business.

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Voltron
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Re: Alliant Credit Union Signature VISA

Post by Voltron » Fri Aug 25, 2017 9:44 pm

I protested the inquiry for a social security card. Rationale explained from ss website that not needed. Anyways, approved. Got signature Visa card in mail.

Will see how it goes. I only wanted strictly a cash back card so this seems best fit.

CT-Scott
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Re: Alliant Credit Union Signature VISA

Post by CT-Scott » Fri Jan 26, 2018 6:36 pm

Sorry for bumping an old thread, but I have a question about this card and I'm hoping someone can steer me in the right direction.

I've been an Alliant checking account holder for about 6 months now and had planned to apply for this card. Right now we use our Citi Double Cashback card for every purchase we possibly can, and that's quite a bit. The other day I got an email from them stating that I'm "pre-approved" along with a link to go through the online application process (is it technically an "application" if I'm already pre-approved?).

Oddly, the online screens refer to it as a "loan" and later ask me if I want to add a "co-borrower". I'm chalking this up to them just re-using the same online form for loans and credit cards. So, I do want my wife to have a card to use, but my preference is to just open it up in my name so that it only dings my credit report. But I also want to make sure that it has a high enough limit to be my replacement for the Citi.

My credit score (through CreditKarma) is about 810. My wife's is about 825. I would want a credit limit of at least $25K, preferably higher. Is there any way for me to know what I'd get approved for without going through the actual application process? Can anyone here share their experience?

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jriding
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Re: Alliant Credit Union Signature VISA

Post by jriding » Fri Jan 26, 2018 6:59 pm

CT-Scott wrote:
Fri Jan 26, 2018 6:36 pm
Is there any way for me to know what I'd get approved for without going through the actual application process? Can anyone here share their experience?
Our credit scores are also in the 800s. I was approved for $20k. I wonder if, after approval, requesting a higher limit would help?

CT-Scott
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Re: Alliant Credit Union Signature VISA

Post by CT-Scott » Fri Jan 26, 2018 8:04 pm

I decided to just go for it without my wife listed as a co-borrower, and I got approved for $25K. A bit less than I was hoping for, but it's enough.

reimann
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Re: Alliant Credit Union Signature VISA

Post by reimann » Tue Jan 30, 2018 9:29 pm

Any update on Alliant Visa Signature cards? I charge about $4-5,000/month. The initial 3% back sounds good with 2.5% after that.

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Voltron
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Re: Alliant Credit Union Signature VISA

Post by Voltron » Tue Jan 30, 2018 10:18 pm

Works for me. Paid 24K in estimated quarterly taxes with it. I spend about same per month. Have had card for less than six months.

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jriding
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Re: Alliant Credit Union Signature VISA

Post by jriding » Fri Feb 16, 2018 10:01 am

reimann wrote:
Tue Jan 30, 2018 9:29 pm
Any update on Alliant Visa Signature cards? I charge about $4-5,000/month. The initial 3% back sounds good with 2.5% after that.
My card has worked out great for the past ~5 months. No complaints and the 3% cash back has created a nice vacation fund.

dustinst22
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Re: Alliant Credit Union Signature VISA

Post by dustinst22 » Tue Apr 24, 2018 11:19 pm

It's a good card. Especially the first year. No complaints.

Funny, my business partner (same income as me) had the same issues as those above. I had no issues.

HEDGEFUNDIE
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Re: Alliant Credit Union Signature VISA

Post by HEDGEFUNDIE » Wed Apr 25, 2018 1:21 am

Has anyone been successful in asking them to waive the annual fee at the one year mark?

Will have spent over $70k on the card by that point, hoping they will offer me some consideration.

jaj2276
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Re: Alliant Credit Union Signature VISA

Post by jaj2276 » Wed Apr 25, 2018 2:23 pm

HEDGEFUNDIE wrote:
Wed Apr 25, 2018 1:21 am
Has anyone been successful in asking them to waive the annual fee at the one year mark?

Will have spent over $70k on the card by that point, hoping they will offer me some consideration.
And they have given you over $2100 for that $70k spend. Assuming you pay your balance in full and haven't made any late payments, I can't imagine how you're a profitable customer for them as I believe the fees they charge the merchants for that $70k spend are less than 3%.

UpperNwGuy
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Re: Alliant Credit Union Signature VISA

Post by UpperNwGuy » Wed Apr 25, 2018 2:39 pm

Credit unions do not usually waive annual fees.

HEDGEFUNDIE
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Re: Alliant Credit Union Signature VISA

Post by HEDGEFUNDIE » Thu Apr 26, 2018 12:04 am

jaj2276 wrote:
Wed Apr 25, 2018 2:23 pm
HEDGEFUNDIE wrote:
Wed Apr 25, 2018 1:21 am
Has anyone been successful in asking them to waive the annual fee at the one year mark?

Will have spent over $70k on the card by that point, hoping they will offer me some consideration.
And they have given you over $2100 for that $70k spend. Assuming you pay your balance in full and haven't made any late payments, I can't imagine how you're a profitable customer for them as I believe the fees they charge the merchants for that $70k spend are less than 3%.
I don’t believe it’s my job to ensure that I am a profitable customer. Clearly they are losing money on me with the credit card, but their strategy is likely to make it up on other services they offer, like deposit accounts, mortgages, etc.

In any case, in year 2 the cash rebate goes down to 2.5%; the next best alternative is the Chase Freedom Ultimate card with a 2.25% cash equivalent rebate when redeemed on travel purchases. The break even spend on the 0.25% rebate difference with $59 annual fee is $23,600.

dustinst22
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Re: Alliant Credit Union Signature VISA

Post by dustinst22 » Sat Apr 28, 2018 10:50 pm

HEDGEFUNDIE wrote:
Thu Apr 26, 2018 12:04 am


I don’t believe it’s my job to ensure that I am a profitable customer. Clearly they are losing money on me with the credit card, but their strategy is likely to make it up on other services they offer, like deposit accounts, mortgages, etc.

In any case, in year 2 the cash rebate goes down to 2.5%; the next best alternative is the Chase Freedom Ultimate card with a 2.25% cash equivalent rebate when redeemed on travel purchases. The break even spend on the 0.25% rebate difference with $59 annual fee is $23,600.
I'm in the same situation. Have the Alliant (spend about the same as you). Considering closing it out at the 1 year mark when I found out about the below hack.

My next move is to open a Charles Schwab acc, get their Amex Plat which allows you to liquidate Amex MR pts at a 1.25 conversion. Then, I'll get the Amex Blue Biz card which gives 2X with no annual fee, and can liquidate at 2.5% into Schwab and right into index funds. Sure, I'll have to pay the Platinum annual fee, but it comes with 60 K pts after 5 K in spend which can be converted to $750, plus the platinum has a lot of worthwhile benefits. I prefer Amex anyway for their top rate customer service and buyer protection.

HEDGEFUNDIE
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Re: Alliant Credit Union Signature VISA

Post by HEDGEFUNDIE » Sun Apr 29, 2018 12:32 am

dustinst22 wrote:
Sat Apr 28, 2018 10:50 pm
HEDGEFUNDIE wrote:
Thu Apr 26, 2018 12:04 am


I don’t believe it’s my job to ensure that I am a profitable customer. Clearly they are losing money on me with the credit card, but their strategy is likely to make it up on other services they offer, like deposit accounts, mortgages, etc.

In any case, in year 2 the cash rebate goes down to 2.5%; the next best alternative is the Chase Freedom Ultimate card with a 2.25% cash equivalent rebate when redeemed on travel purchases. The break even spend on the 0.25% rebate difference with $59 annual fee is $23,600.
I'm in the same situation. Have the Alliant (spend about the same as you). Considering closing it out at the 1 year mark when I found out about the below hack.

My next move is to open a Charles Schwab acc, get their Amex Plat which allows you to liquidate Amex MR pts at a 1.25 conversion. Then, I'll get the Amex Blue Biz card which gives 2X with no annual fee, and can liquidate at 2.5% into Schwab and right into index funds. Sure, I'll have to pay the Platinum annual fee, but it comes with 60 K pts after 5 K in spend which can be converted to $750, plus the platinum has a lot of worthwhile benefits. I prefer Amex anyway for their top rate customer service and buyer protection.
So I take it you’ll be closing your Alliant? Yup, me too.

SrGrumpy
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Re: Alliant Credit Union Signature VISA

Post by SrGrumpy » Sun Apr 29, 2018 12:41 am

flamesabers wrote:
Thu Aug 10, 2017 8:28 am

I think all of these "requirements" are a definite sign the bank doesn't really want your business.
It's like the destination weddings I've been reading about here: You're invited but we don't really want you to come.

jaj2276
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Re: Alliant Credit Union Signature VISA

Post by jaj2276 » Sun Apr 29, 2018 5:38 am

HEDGEFUNDIE wrote:
Thu Apr 26, 2018 12:04 am
jaj2276 wrote:
Wed Apr 25, 2018 2:23 pm
HEDGEFUNDIE wrote:
Wed Apr 25, 2018 1:21 am
Has anyone been successful in asking them to waive the annual fee at the one year mark?

Will have spent over $70k on the card by that point, hoping they will offer me some consideration.
And they have given you over $2100 for that $70k spend. Assuming you pay your balance in full and haven't made any late payments, I can't imagine how you're a profitable customer for them as I believe the fees they charge the merchants for that $70k spend are less than 3%.
I don’t believe it’s my job to ensure that I am a profitable customer. Clearly they are losing money on me with the credit card, but their strategy is likely to make it up on other services they offer, like deposit accounts, mortgages, etc.

In any case, in year 2 the cash rebate goes down to 2.5%; the next best alternative is the Chase Freedom Ultimate card with a 2.25% cash equivalent rebate when redeemed on travel purchases. The break even spend on the 0.25% rebate difference with $59 annual fee is $23,600.
I didn't say it was your job to ensure you're a profitable customer. I'm simply pointing out that it's a bit silly for you to think they should offer you "some consideration" to waive the $59 when you're clearly losing money for them.

txranger
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Re: Alliant Credit Union Signature VISA

Post by txranger » Sun Apr 29, 2018 6:19 am

Had the card for a year. Best cash back card w no forex fees which is key if u live overseas. The only one that comes close after first is bofa premier rewards if u have >100k w merrill. I m considering switching more towards it but can’t get instant transaction alerts to work w bofa.
Anyone has any experience w that bofa card?

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