Apply for the Ally Everyday Cash Back Mastercard

Ally Everyday Cash Back Mastercard® is a credit card that offers simple and accessible cash-back rewards.

With an attractive cashback rate and benefits such as no annual fee and no foreign transaction fees, this card is an excellent choice for those looking to earn money back on everyday purchases.

With a competitive interest rate and the ability to use cashback as a statement credit or transfer it to your bank account, the Ally Everyday Cash Back Mastercard® is an appealing option for both beginners and experienced cardholders.

Is This Card the Best Option for You?

The Ally Everyday Cash Back Mastercard® might be the right choice if you:

1. Seek Cash Back Rewards: The card offers 1% cashback on all purchases, with 3% cashback on gas station and supermarket purchases for the first $500 spent monthly. If you frequently shop in these categories, the Ally Everyday Cash Back Mastercard® can be a great way to maximize your rewards.
2. Want to Avoid Annual Fees: The card charges no annual fee, meaning you can enjoy rewards without worrying about fixed costs.
3. Prefer Simplicity and Transparency: With a straightforward cashback redemption process, the card is hassle-free. You can use your rewards as a statement credit or transfer the amount to your bank account.
4. Need a Card with No Foreign Transaction Fees: The card doesn’t charge foreign transaction fees, making it an excellent benefit for those who travel abroad and want to use their card for international purchases.

Drawbacks to Consider

While the Ally Everyday Cash Back Mastercard® has many benefits, there are some drawbacks to consider before applying:

1. Cashback Limit in Specific Categories: The 3% cashback on gas and supermarket purchases is limited to $500 per month. After reaching this limit, you’ll earn only 1% cashback in these categories, which could be restrictive for those with high spending in these areas.
2. High Interest Rate After Introductory Period: The card offers an attractive introductory APR on purchases and balance transfers, but after the promotional period, the interest rate may rise to a higher variable APR, ranging from 15.24% to 24.24%. Paying the balance in full each month is important to avoid finance charges.
3. No Extra Rewards Benefits: While the card provides cashback across several categories, it lacks additional perks like travel rewards or discounts with specific partners. If you’re looking for a card with extra benefits, this may not be the ideal choice.
4. Credit Requirements: The card may be harder to qualify for if you have limited credit history. Although accessible, a good credit score is generally required to secure better terms.

Requirements to Apply for Your Credit Card

To apply for the Ally Everyday Cash Back Mastercard®, you must meet the following requirements:

1. Minimum Age of 18 Years: You must be at least 18 years old to apply for the card.
2. U.S. Residency: The card is available only to U.S. residents.
3. Good Credit Score: While the card is accessible to individuals with fair credit, having a good to excellent credit score can help you secure faster approval and better terms, such as a higher credit limit.
4. Financial Information: You’ll need to provide personal and financial details, such as income, Social Security number, and address, to complete your application.

The application process is quick and can be completed online through the official Ally Everyday Cash Back Mastercard® website.

Track Your Application

After applying for the Ally Everyday Cash Back Mastercard®, you can track the status of your application directly on the issuer’s website.

The approval process is usually fast, and you can expect to receive a response within a few days.

Associated Costs of the Credit Card

Despite the many benefits offered, the Ally Everyday Cash Back Mastercard® also comes with some costs that you need to consider:

1. Interest Rate (APR): The card has a variable interest rate ranging from 15.24% to 24.24%, depending on your credit history. This can be relatively high if you cannot pay your balance in full each month.
2. Foreign Transaction Fees: The card does not charge foreign transaction fees, a positive point for frequent international travelers.
3. Late Payment Fee: If you miss the payment deadline, a late payment fee of up to $40 will be charged, depending on the issuer’s policy.
4. Cash Advance Fee: If you take a cash advance, a fee of 5% of the amount withdrawn will be charged, in addition to a high-interest rate on the balance.

While these costs are common among credit cards, it’s essential to be mindful of them to avoid additional charges.

Frequently Asked Questions About the Credit Card

1. Does the Ally Everyday Cash Back Mastercard® offer rewards in specific categories?
   Yes, the card provides 3% cashback on gas station and supermarket purchases (up to $500 per month) and 1% cashback on all other purchases.
2. Does the Ally Everyday Cash Back Mastercard® charge an annual fee?
   No, the card has no annual fee, making it a very attractive option for those who want to earn cashback without fixed costs.
3. How can I redeem my cashback?
   You can use your rewards as a statement credit or transfer the balance to your bank account.
4. What are the fees for the Ally Everyday Cash Back Mastercard®?
   The card has a variable APR ranging from 15.24% to 24.24%, a late payment fee of up to $40, and a 5% cash advance fee.
5. Does the Ally Everyday Cash Back Mastercard® offer extra rewards programs?
   No, the card does not provide additional rewards programs, such as travel discounts or points. It offers straightforward cashback rewards.

Issuer Contact Information

If you need assistance or more information about the Ally Everyday Cash Back Mastercard®, you can contact the issuer through the following means:

• Phone: Call 1-877-244-0559 for customer service.
• Website: Visit Ally’s official website at www.ally.com.
• Live Chat: A live chat option is available on the website for quick inquiries about the card.

Conclusion

The Ally Everyday Cash Back Mastercard® is an excellent option for those who want to earn cash-back rewards on daily purchases, particularly in gas stations and supermarkets.

Additionally, the lack of an annual fee and the attractive cashback rate make it a great card for anyone looking to save and earn rewards without fixed costs.

However, the high-interest rate after the introductory period and the cashback limit in specific categories are points to consider.

If you’re seeking a credit card with simple and no-fuss rewards, the Ally Everyday Cash Back Mastercard® might be the right choice for you.