Q: I love this site I’m learning so much. One question though- how do I apply for the credit card from Ally Bank? I have a savings account with them and am interested in their card, but can’t find the application online. I know it exists because at work I rang up a customer who paid with an Ally Bank Visa card.
A: Unfortunately, Ally Bank doesn’t issue any credit cards. What you must have seen is someone pay with an Ally Bank debit card, which do exist and come with their checking accounts.
You can get it as a Visa or MasterCard but the bad news is that these debit cards come with no rewards program. Which isn’t that surprising though… because of the crackdown on debit card fees, banks are reluctant to offer rewards on them nowadays.
If you want a debit card then I would highly recommend checking out the this prepaid card. It has no credit check, no activation fee, and no minimum balance. It’s an excellent choice for those who don’t want to use credit.
On the other hand, if you want a credit card, then my guess is that you’re probably not the type of person who carries a balance. Why do I say this? Because those who use high yield online savings accounts usually aren’t the same types of people who have credit card debt. Therefore you probably don’t give a crap about a card’s APR and instead, are looking for maximum rewards. And since there are no plans for an Ally Bank credit card to be created, here are my top 3 recommendations for you: