The Ally Unlimited Cash Back Mastercard® offers a stellar 2% rewards rate on every purchase you make, but unlike other top cash-back credit cards, it doesn’t offer a welcome bonus or introductory 0% APR. What’s more, you can’t apply for the card unless you receive an invitation from the card issuer.
Ally Unlimited Cash Back overview
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Annual fee
$0
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Welcome offer
None
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Card type(s)
Cash-back
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Purchase APR
26.99% variable
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Benefits
- No minimum to redeem rewards
- No foreign transaction fees
Read also: What is APR on a credit card?
Rewards rate
How to earn rewards
The Ally Unlimited Cash Back Mastercard gives you a flat 2% cash back on every purchase, with no limit to how much you can earn. If you prefer a simple rewards structure, this card makes it so you don’t have to keep track of different rewards rates and spending categories.
How to redeem rewards
The card allows you to redeem your rewards as a statement credit. Other top cash-back credit cards offer more flexibility, with options like direct deposit, paper checks, gift cards, and more.
Additional benefits
The Ally credit card doesn’t charge foreign transaction fees. However, there aren’t any other major perks.
Who is the Ally Unlimited Cash Back Mastercard best for?
The Ally Unlimited Cash Back Mastercard may be worthwhile if you’ve received an offer in the mail or online, you’re an Ally Bank customer, and you want to keep all of your finances under one proverbial roof.
However, if you’re looking to maximize the value of your credit card, you can get 2% back and other perks like welcome bonuses and introductory 0% APR offers from credit cards like the Wells Fargo Active Cash® Card and the Citi Double Cash® Card.
Ally Unlimited Cash Back Mastercard pros
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High rewards rate: For people who prefer simplicity, the card offers an impressive 2% cash back on every purchase.
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No penalty APR: Many other credit cards charge a higher interest rate if you miss more than one payment in a six-month period. But with the Ally credit card, you don’t have to worry about a penalty APR.
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No annual fee: Unlike some other rewards credit cards, this one doesn’t charge an annual fee.
Ally Unlimited Cash Back Mastercard potential cons
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No welcome bonus: The card’s lack of a welcome bonus makes it less appealing to people who are hoping to instantly maximize their rewards.
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No introductory 0% APR offer: Most of the top cash-back credit cards offer a 0% APR promotion on purchases, balance transfers, or both. With the Ally credit card, however, you won’t get either.
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Requires an invitation to apply: Even if you like what the Ally credit card has to offer, you can’t apply unless you’ve received a targeted offer to do so.
Where can you use Ally Unlimited Cash Back Mastercard?
As a Mastercard credit card, you can use the Ally Unlimited Cash Back Mastercard just about anywhere you’d like, both within the U.S. and internationally. The lack of a foreign transaction fee makes it worthwhile for international travel.
How to make an Ally Unlimited Cash Back Mastercard® payment
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Online: Log in to your account and select “Account Summary,” then “Make a Payment.”
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Phone: Call 888-366-2559 and provide your full credit card number.
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Mail: Send a check with your account number to:
Ally Credit Card
P.O. Box 660371
Dallas, TX 75266-0371
It typically takes one to two days for a payment to reflect in your account balance. If you’re mailing a check, however, it can take up to 10 days.
Ally Unlimited Cash Back Mastercard customer service info
Alternative cards to consider
If you haven’t received an offer to apply to the Ally credit card or you’re not sure it’s the right fit for you, here are some other top cash-back credit cards to compare.
Capital One Quicksilver Cash Rewards Credit Card
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Annual fee
$0
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Welcome offer
Earn a one-time $200 cash bonus after you spend $500 on purchases within 3 months from account opening
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Introductory APR
0% intro APR on purchases and balance transfers for 15 months, then variable 18.49% – 28.49% APR
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Purchase APR
18.49% – 28.49% variable
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Rewards rate
- 5% cash back on hotels, vacation rentals, and rental cars booked through Capital One Travel
- 1.5% cash back on all other purchases
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Benefits
- Generous intro APR on purchases and balance transfers
- No foreign transaction fees
Why we like it: The card offers 5% cash back on hotels and rental cars booked through Capital One Travel and 1.5% back on every purchase you make. While that isn’t as generous as the Ally credit card’s 2% back, the Capital One Quicksilver Cash Rewards Credit Card offers a generous welcome bonus.
Capital One Quicksilver Cash Rewards review: Simplify spending with 1.5% cash back
Blue Cash Everyday® Card from American Express
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Welcome offer
As high as $200 cash back after spending $2,000 within the first 6 months (welcome offers vary and you may not be eligible for an offer; cash back is received as Reward Dollars, redeemable for statement credit or at amazon.com checkout)
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Introductory Purchases APR
0% on purchases for 15 months
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Ongoing Purchases APR
19.49%-28.49% Variable
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Introductory Balance Transfer APR
0% on balance transfers for 15 months
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Ongoing Balance Transfer APR
19.49%-28.49% Variable
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Rewards rate
- 3% cash back at U.S. supermarkets (on up to $6,000 per year in eligible purchases, then 1%)
- 3% cash back on U.S. online retail purchases (on up to $6,000 per year in eligible purchases, then 1%)
- 3% cash back at U.S. gas stations (on up to $6,000 per year in eligible purchases, then 1%)
- 1% cash back on all other purchases
- Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit or on Amazon.com at checkout
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Benefits
- Generous intro APR on purchases and balance transfers
- Get up to a $7 monthly statement credit after using your enrolled Blue Cash Everyday® Card for a subscription purchase, including a bundle subscription purchase, at DisneyPlus.com, Hulu.com, or Stream.ESPN.com U.S. websites (subject to auto-renewal)
Why we like it: If you want to maximize your cash back on certain everyday purchases, the Blue Cash Everyday® Card from American Express could be worth a glance. The card offers 3% cash back on up to $6,000 spent per year at U.S. supermarkets (then 1%), 3% back on up to $6,000 spent per year on U.S. online retail purchases (then 1%), 3% back on up to $6,000 spent per year at U.S. gas stations (then 1%), and 1% back on everything else.
Amex Blue Cash Everyday Card review: Earn 3% back in common spending categories
Capital One Venture Rewards Credit Card
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Annual fee
$95
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Welcome offer
Earn a one-time bonus of 75,000 miles once you spend $4,000 on purchases within 3 months from account opening, equal to $750 in travel
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Purchase APR
19.49% – 28.49% variable
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Rewards rate
- 5x miles on hotels, vacation rentals, and rental cars booked through Capital One Travel
- 2x miles on all other purchases
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Benefits
- Receive up to a $120 statement credit for Global Entry or TSA Precheck® application fees
- Receive a $50 experience credit, room upgrades, and early check-in at eligible hotels
- Access Hertz’s Five Star membership tier, offering free upgrades, a wider selection of vehicles, and more
Why we like it: If you’re looking for travel rewards, the Capital One Venture Rewards credit card should be on your radar. The card offers 5 miles per dollar on hotels and rental cars booked through Capital One Travel and 2 miles per dollar on all other purchases.
You’ll also get an application fee credit toward Global Entry or TSA PreCheck, a wider selection of rental cars with Hertz Five Star status, and access to special events and reservations through Capital One Entertainment and Capital One Dining.
Capital One Venture Rewards Credit Card review: A top travel card with a generous welcome bonus
This article was edited by Alicia Hahn
Editorial Disclosure: The information in this article has not been reviewed or approved by any advertiser. All opinions belong solely to Yahoo Finance and are not those of any other entity. The details on financial products, including card rates and fees, are accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information. This site doesn’t include all currently available offers. Credit score alone does not guarantee or imply approval for any financial product.