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Ally Unlimited Cash Back Mastercard® Review: A Simple Cash Back Solution
What Is the Ally Unlimited Cash Back Mastercard?
The Ally Unlimited Cash Back Mastercard is a rewards credit card offered by Ally Bank, known for its online banking services. This card stands out in the crowded cash back market with its straightforward rewards structure: cardholders earn unlimited 2% cash back on all purchases, without any complicated categories or spending limits.
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Ally Unlimited Cash Back Mastercard Pros & Cons
Pros:
- Unlimited 2% cash back on all purchases
- No annual fee
- No foreign transaction fees
- No minimum redemption requirements
- Cell phone protection up to $800 per claim
Cons:
- No sign-up bonus
- Requires good to excellent credit for approval
- Limited additional perks compared to premium rewards cards
Who Is the Ally Unlimited Cash Back Mastercard For?
The Ally Unlimited Cash Back Mastercard is ideal for:
- Simplicity seekers: Those who prefer a straightforward rewards structure without tracking rotating categories or spending limits.
- Everyday spenders: Individuals who use their credit card for various purchases and want to earn consistent rewards on all transactions.
- Existing Ally Bank customers: People who already have an Ally Bank account and want to consolidate their financial products.
- Frequent travelers: With no foreign transaction fees, this card is suitable for those who often travel internationally.
- Budget-conscious consumers: The card's lack of an annual fee makes it attractive for those looking to maximize rewards without extra costs.
Comparing Ally Unlimited Cash Back Mastercard with Other Credit Cards
When considering the Ally Unlimited Cash Back Mastercard, it's helpful to compare it with other popular options in the cash back credit card category:
- Annual fee: $0
- Sign-up bonus: Cash bonus after meeting spending requirements
- Key rewards: 5% on travel purchased through Chase Travel℠, 3% on dining and drugstores, 1.5% on all other purchases
- Standout feature: Flexible redemption options including cash back, travel, and gift cards
Capital One Savor Cash Rewards Credit Card (rates & fees):
- Annual fee: $0
- Sign-up bonus: Cash bonus after meeting spending requirements
- Key rewards: 3% on dining, entertainment, popular streaming services, and grocery stores
- Standout feature: No foreign transaction fees
Blue Cash Everyday® Card from American Express (rates & fees):
- Annual fee: $0
- Welcome offer: Cash bonus after meeting spending requirements
- Key rewards: 3% at U.S. supermarkets (up to $6,000 per year, then 1%), 2% at U.S. gas stations and select U.S. department stores. Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.com checkout
- Standout feature: This card offers a generous intro of APR on purchases and balance transfers
Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by Amex Assurance Company.
Each card offers unique benefits tailored to different spending habits and preferences. Consider your personal financial goals when choosing the best card for you.
Key Takeaways:
- Ally Unlimited Cash Back Mastercard excels with its straightforward rewards structure: cardholders earn unlimited 2% cash back on all purchases, without any complicated categories or spending limits
- Chase Freedom Unlimited® offers diverse category bonuses
- Capital One Savor Cash Rewards Credit Card rewards dining and entertainment spending
- Blue Cash Everyday® Card from American Express provides strong rewards on everyday purchases
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Consider Using Kudos
While the Ally Unlimited Cash Back Mastercard offers a competitive 2% cash back rate, savvy shoppers might want to consider using Kudos, a free AI-powered browser extension, to maximize their credit card rewards even further. Kudos works with over 15,000 stores and automatically suggests the best credit card to use for each purchase, ensuring you always earn the most rewards possible.
With Kudos, you can:
- Get personalized credit card recommendations for every purchase
- Multiply your rewards up to 5X during exclusive "Flash Boost" events
- Discover new credit cards that align with your spending habits
If you're looking to get more out of your credit cards, Kudos is the best free shopping app to use when you shop online. And, they're currently offering $20 back after your first eligible purchase — just sign-up for free with code "GET20" and make a purchase at a Boost merchant.
Our Expert Takeaway
The Ally Unlimited Cash Back Mastercard is a solid choice for consumers seeking a no-frills cash back credit card. Its 2% unlimited cash back rate on all purchases is competitive and easy to understand, making it an excellent option for everyday spending. The lack of an annual fee and foreign transaction fees adds to its appeal, especially for frequent travelers.
However, the card's simplicity may be a double-edged sword. While it offers a consistent rewards rate, it lacks the sign-up bonuses and additional perks that some competitors provide. This might make it less attractive for those who enjoy maximizing their rewards through various bonus categories or welcome offers.
For Ally Bank customers, this card could be a natural fit, integrating seamlessly with their existing accounts. For others, it's worth comparing with similar cards to ensure it aligns with their spending habits and reward preferences.
Ultimately, the Ally Unlimited Cash Back Mastercard® shines in its simplicity and consistency. It's an excellent choice for those who value straightforward rewards and don't want to juggle multiple cards or track changing bonus categories.
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Ally Unlimited Cash Back Mastercard® FAQ
Is there an annual fee for the Ally Unlimited Cash Back Mastercard®?
No, there is no annual fee for this card.
What is the cash back rate for the Ally Unlimited Cash Back Mastercard®?
The card offers unlimited 2% cash back on all purchases.
Are there any foreign transaction fees with this card?
No, the Ally Unlimited Cash Back Mastercard® does not charge foreign transaction fees.
Is there a minimum redemption requirement for cash back?
No, there is no minimum redemption requirement. You can redeem your cash back at any time, in any amount.
Does the Ally Unlimited Cash Back Mastercard® offer a sign-up bonus?
Currently, this card does not offer a sign-up bonus.
What credit score is needed to qualify for the Ally Unlimited Cash Back Mastercard®?
While Ally doesn't disclose specific credit score requirements, it's generally recommended to have good to excellent credit (typically a FICO score of 670 or higher) to qualify for this card.
Can I use this card for balance transfers?
The Ally Unlimited Cash Back Mastercard® does not currently offer balance transfers.
What additional benefits does the card offer?
The card offers cell phone protection up to $800 per claim when you pay your monthly cell phone bill with the card. It also includes standard Mastercard benefits such as Zero Liability Protection and ID Theft Protection.
By offering a comprehensive review of the Ally Unlimited Cash Back Mastercard®, this article provides valuable information for potential applicants while also highlighting the benefits of using Kudos to maximize credit card rewards.
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Editorial Disclosure: Opinions expressed here are those of Kudos alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
