checking…BOA/WF/TD/Citizen and MTB. All had big bonuses. Savings HM Bradley @3% and 3.5% with their CC that I just received. 6 months in and still 3%, but you need a REAL DD. My SS goes in there. other savings are in vanguard stock funds.
But you cant use those for general comparisons, either. Travel values are so dependant on how you travel, where you travel to, where you travel from, and of course if you travel at all. Cash is the only standard valuation metric that yields an apples to apples discussion.
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Personally the devaluation put me on notice that those points are on a list for cost cutting and that that if a devaluation happens I should expect no notice so my Alliant 2% card went to the stock drawer and I see no reason for it to come out. I will do Citi Double for a while since I have a targeted 0% promo, when that expires I will go on to Fidelity which is more convenient since it is set to auto-redeem.
I can’t pay an annual fee because I try to target the rotating categories for many cards and leave space for signup bonuses and the various targeted deals that come along (which have dried up a little but hope springs eternal). Honestly, I don’t charge enough and should just pay attention to sign up bonuses and not cash back but I have found a place that I am comfortable for now.
On the savings/checking side I am keeping these going at Alliant but I think I am not the only one keeping extra attention to these with the new leadership and this bad decision with the 2% card.
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My theory is that they’ve supplanted these with “Offers” (e.g. Amex Offers, Chase Offers). It has a similar effect of causing consumers to keep cards in their wallet, is more profitable (because in most cases the merchant is backing it and probably paying for the privilege), and isn’t as attractive to folks like us who are going to do the minimum to get the offer and then sockdrawer the card again.
I do okay with Offers, but I also have bunch of sockdrawed cards that I am hoping, mostly in vain, for targeted offers on.
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Just got an email from Alliant:
If you visited the Alliant Visa Platinum Rewards points redemption site between January 4 and February 4, 2021, you might have noticed that the value of the points was lower than it had been previously.
During that period, there was a brief change to the value of the points1, but that change was reversed after receiving member feedback.
We thought it was important to communicate with you in case you’d noticed the change and it prevented you from redeeming your points as planned.
We also wanted to let you know that effective March 1, the Platinum Rewards points redemption site will no longer be supported in Internet Explorer 11 (IE11).
We’re sorry, and we appreciate your feedback.
Thank you,
Jeremy Pinard
Vice President, Consumer Lending
So the points value change was not an error and they backed down based on feedback as I assumed. No change on how I view things but thought I would share.
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Hope this adverse action doesn’t affect anyone here:
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Apparently they removed some members who just used it as a hub account. I can see why they would prefer not to be just an intermediary, but that has to be annoying to get that letter, especially after a decade.
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Unbelievable! I really enjoy using Alliant CU, especially for ACH transfers.
Never used MO or mobile banking. I read some of the response comments on the post, pretty angry folks.
Hopefully all our people got no letter. But, I didn’t pick up my mail today… 
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I am surprised that the people with direct deposits were canned. Might be more to this story…
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The most alarming thing I’ve ever seen about Alliant is their recent alliance with Suze Orman, a noted scam artist.
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Thank you, zzz, for posting. This sort of thing is worrisome . . . at least it is for me.
Remember I posted up thread that Mr. Mooney is no longer our president at Alliant. He retired.
The new guy is throwing his weight around. He is not a credit union guy.
This stuff sucks. It is especially annoying that, apparently, no warning notices were sent. Thus, the recipients of this letter were blindsided.
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No warning, but well over a months advance notice.
The best we can hope for is to not lose accumulated rewards when an account is closed. While this year’s death date (this is year 3 of these letters, it isn’t a new occurance) is on the April statement date - leaving no chance to redeem April rewards - we know before the statement cycle started.
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When I first read zzz notice, it sounded like the only put down referred to MO Deposits.
Now many of you are concerned about Visa Platinum rewards. So the concern is double/triple fold.
Since I have neither, I hope for “no worry”. I simply use Alliant CU as a hub for ACH transfers. I also try to keep a minimum amount in the savings. $300-500.
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A couple of things.
As Glitch points out, according to the Doctor of Credit post, this apparently also took place in 2019 after the annual meeting. So I don’t think this process to expunge members is new; although, it does seem they are culling many legitimate users of Alliant accounts, in addition to those who may be using it for “hub” type activities. That might be the doing of the new CEO.
All that said – I agree with Shin, I don’t like these developments as I value stability above all else when it comes to primary checking/savings.
I only focused on credit card rewards because they are the primary value that is at risk from an account closure. A savings or checking account, or even the credit card itself, being closed mostly just creates a hassle. It really doesnt cost you any money.
You are not immune. Years back I was specifically called out for using Alliant as a transfer hub, and threatened to be kicked out for such activity. Such a call could be the catalyst for being kicked out at a future secret membership meeting.
The reason you dont have to worry is because there is no indication you’ll wake up one morning to find your Alliant accounts closed. You’ll have plenty of advance warning, to adapt before being cut off. You may not realize it, but that’s a courtesy not provided by most financial institutions.
Obviously, it seems like you are still a member. So when you were called out, what did you change?
Sometime back, Alliant had a fair, decent % rate for savings accts. It’s not a bottom rate today, but compared to some of our liquid savings & money mkt rates, why save at Alliant?
I also use their billpay & would hate to lose that…
So, I’m going to stick around until they kick me out. 
…until April 12. 
I sent a note to Alliant asking them if they were going to offer a Suze Orman debit card. No reply so far.
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Thank you for your interest in a Suze Orman debit card. We will take it under consideration at our next meeting.
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So you actually did get expelled?
I’m not particularly worried about expulsion, as I don’t do a whole lot of ACH pushing/pulling from Alliant. The new CEO does worry me and I’m scoping out alternatives, maybe ETFCU with their rewards checking program.
The only thing that concerns me re: the Suze Orman relationship is the cost of it. She ain’t free and those are dollars that could be going to members instead in the form of improved services, higher rates, bonuses, etc.
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