Is there an Ally Bank credit card?

Posted by CreditCardGuru

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 as of 2013, 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.

Ally Bank debit cardYou 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:

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2 comments... read them below or add your own

  1. LT January 21, 2014 at 5:20PM

    Not necessarily having a credit card means you don;t carry a balance. It is actually beneficial in an account management point of view, because you can concentrate your payments on one day and it gives you time to make money (although already having the product in hand) before having to pay for it. If you are to sell the product you just bought, for example, you will be getting the profit and after having made profit you pay for the cost. Big companies do it with big amounts and big purchases all the time. It is good for the cash inflow records

  2. Jake May 8, 2013 at 5:54PM

    For some reason, Ally issues their debit cards for their checking accounts as Mastercard, just like the one pictured above. However, the cards for their money market savings accounts are Visa-branded. Basically the same card, but with a Visa logo, not a Mastercard one. Unfortunately, Ally has yet to issue credit cards.

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