Alliant Credit Union

Alliant Credit Union
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#362

This $3 fee is gone from the latest Fees schedule, and this service is now free (as of last fall).


#363

That is good news. Thank you very much for posting.


#364

There is no fool like an old fool. Alliant got me again!:grinning:

Recently opened a couple of new CC accounts and wanted, early, to establish payment conduits for both. I use Alliant bill pay.

As often has happened in the past, Alliant tells me they will be sending a paper check via snail mail. Now of course I know that is a ruse, except when it is not a ruse. A reason for making the trial payments was to discover what Alliant actually would do.

What Alliant did in both instances was to pay my CC accounts electronically. :fireworks:

According to “Argyll’s rule”, CC accounts are best paid in full in advance of the statement cycle (i.e., statement closing) day. This for those of us interested in credit score maintenance. So I needed to know how far in advance I would need to initiate the Alliant bill pay payments. Snail mail takes longer, after all.


#365

Thanks for the credit. It’s not a rule, just an observation. If you want to keep the highest credit score, pay before the statement date. I first did this for a particular situation. Then I got used it as it’s the same as making regular monthly payments except you feel like you’re making the first one early. I do it all the time now.

And, of course, if you miss a payment, you still have another 25 days to pay!

As regards BillPay, I’ve never used it.


#366

Out of curiosity, why do you use alliant bill pay instead of setting up a payment with the credit card company? You can just set the date of payment so you don’t have to worry about how alliant will process it.

Also, (sorry if you’re already aware of this) paying early only affects your credit score for the next month. There’s no (credit report) reason to pay early if you aren’t applying for credit in the coming month. In other words, the fact that your balance on a card reported as 0 three months earlier has no bearing on your score this month.

Finally, I know you’ve mentioned wanting to get higher limits. You may want to leave the balances there so the statement cuts with a balance so the issuer knows you’re using your card (potentially one of the factors in a CLI request). Not sure how all of their algorithms work, but it’s possible the system would see only the $0 balances and determine that you aren’t using the card (it would obviously be a design flaw, but as we all know, those are pretty common).


#367

I like “Argyll’s rule”.

I opened a couple cc’s just recently with a “not so hot” credit allowance . I’m trying to keep the 10% utilization rate by paying off balance early. I’m going to wait for a few months then try to get an upgrade on the credit Allowance.


#369

I have a brother-in-law that has been practicing this philosophy all his life. :wink:


#370

Oh, I dunno. Force of habit, I guess. I generally go with things which have been reliable for me in the past. Alliant bill pay has been very reliable.

This is not to say other approaches are not equally reliable. But I feel at home with Alliant. Alliant is good totem.


#371

I thought reducing it would increase the score?


#372

I think Argyll was not typing what Argyll meant. Let’s be gentle.


#374

For the record, my reference above to Argyll’s Rule was intended to be taken most seriously. If you care about your credit score do what he suggests. Argyll knows this stuff cold. Just sayin’.

Word to the wise.


#376

btw, since the f’ed me with no 3% cash back on gcmall orders, when I had previously received it. I will be closing cc acct in aug before fee. BUT I am using it for new carpets/flooring and painting job on my house. Plus new screens and some windows, have 11k cline. And I have small savings which I xfer $ from outside checking. Then xfr to cc and pay it off. Takes 2 days if done Mon-wed.


#377

Just as a heads up, be on lookout Friday for an Alliant savings interest rate boost. Interest rates on liquid funds are moving up generally. Alliant had better do something, and Friday will be the day.


#378

Just one day remaining until the big reveal . . . a new higher savings rate . . . I hope!

They have to do something. With fingers crossed I’m wishing for 1.75%. Surely hope Alliant does not wimp out on us. :worried:


#379

Unfortunately I’m guessing 1.65% at best. Alliant has not been as competitive as rates have been moving upward. I’m wondering if we’ll see any movement on the 0.65% checking rate - thinking not.


#380

Hopefully I’ll go with shinobi 1.75%. But zzz, 1.65% would still be good.


#381

Agreed. The checking account interest rate appears frozen.

I’m with Alliant regardless what they do. But a higher savings interest rate would surely be a good thing. We will know soon!


#382

Alliant savings rate changed to 1.60%.

When rates change, Alliant has historically moved its savings yield in small increments on a monthly basis.


#383

:cry:


#384

Yup thought we’d be lucky if it went to 1.65 so not surprised with 1.6. They are becoming less and less competitive unfortunately.