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Ally Bank offers Ally PlatinumMasterCard®*, Ally Eryady Cash BackMasterCard®*, Ally Unlimited Cash BackMasterCard®*, and three credit cards available only by invitation.
These cards are available to people who may not have the best credit, making them a valuable option for those struggling to get approval for other reward cards. Two cards offer a decent cashback rate, but the card lacks welcome offers, which reduces the value of the upfront payment. If you are eligible and are considering an Ally Bank credit card, here are some things you need to know.
Top Ally Bank Card
Comparison of Ally Bank Credit Cards
| Card name | It’s perfect for | Annual fees | Recommended Credit Score | Highlights |
|---|---|---|---|---|
| Ally PlatinumMasterCard®* | Building Credits | $0 | It’s fair and bad | Increased automatic credit line reviews |
| Ally Everydy Cash BackMasterCard®* | Bonus Categories | 0-39 dollars | It’s good from fair | 3% cashback at gas stations, grocery stores and drug stores. 1% on all other purchases |
| Ally Unlimited Cash Back* | Flat rate cashback | $0 | It’s good from fair | 2% cashback on all purchases |
How to get an Ally Bank Credit Card
Ally Bank cards are only available for invitations.
The only way to apply and get an ally’s bank credit card is with an invitation or a pre-excluded offer. Ally Bank will send these offers by mail and online. You don’t have to be a current Ally customer to receive your invitation. However, to apply for an Ally card, you will need an access code from the offer. If you are eligible, the approval odds are good, but still not guaranteed.
The drawback of Ally’s card invitation-only nature is that the offer is valid only for a particular card. You cannot choose from Ally cards unless you have a different card offer.
Is the Ally Bank card worth it?
The answer to this question depends on your credit situation. If your credits aren’t big, these cards make a lot of sense. Platinum MasterCard can be an easy way to build or rebuild credits through responsible use. Due to daily cashback and unlimited cashback cards, other cards may not qualify. If you need to have a low bar to clear for approval, these are solid options.
If you have good trust or more, they are not worth it. Compare these options with other cards that can be approved. Daily cashback and unlimited cashback cards have a competitive rate of return, but there are no sign-up bonuses or intro APR offers. This is lacking compared to similar cashback cards. Even if you have a card that does not have an annual fee, you can still earn these same fees with additional perks and incentives.
What’s next?
Bankrate resources can help you find a credit card that matches your profile.
Conclusion
Ally Bank invitation-only cards offer access to rewards and an easy way to build credits for people who can’t get cards with other issuers, giving them the opportunity to increase credits while reaping benefits. Competitive return rates and simple credit construction are benchmarks for Ally’s card lineup.
However, if you have good credits and have solid approval odds with the best cashback card, then a better opportunity is available to maximize your reward. Ally matches the competition from a revenue perspective, but these cards are insufficient because they don’t offer welcoming offers or additional benefits that many competitors make. Ultimately, your credit situation will determine whether these cards are valuable to you.
FAQ
*Information on Ally Platinum MasterCard®, Ally Everyday Cash BackMasterCard®, and Ally Unlimited Cash BackMasterCard® was collected independently by Bankrate.com. The publisher did not provide the content and was not responsible for its accuracy.
