The best Ally Bank credit cards

Ally Bank offers three credit cards, available by invitation only: the Ally Platinum Mastercard®, the Ally Everyday Cash Back Mastercard®, and the Ally Unlimited Cash Back Mastercard®.

These cards are available to people who might not have the best credit, making them a valuable option for people who struggle to get approved for other rewards cards. While two of its cards offer decent cash back rates, the lack of welcome offers on its cards diminishes their upfront value. If you’re eligible and are considering an Ally Bank credit card, here’s what you need to know.

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How to get an Ally Bank credit card

Ally Bank cards are only available by invitation

The only way to apply for and get an Ally Bank credit card is with an invitation or prescreened offer. Ally Bank sends these offers via mail and online, and you don’t have to be a current Ally customer to receive an invitation. But you need the access code from the offer to apply for any of Ally’s cards. If you’re eligible, your approval odds are good, but still not guaranteed.

A drawback of the invitation-only nature of Ally’s cards is that an offer is only valid for a specific card. You can’t choose among Ally’s cards unless you also have an offer for a different card.

Are Ally Bank cards worth it?

The answer to this question depends on your credit situation. If your credit isn’t great, these cards make a lot of sense. The Platinum Mastercard could be a straightforward way to build or rebuild your credit through responsible use. The Everyday Cash Back and Unlimited Cash Back cards would give you access to rewards you may not be eligible for with other cards. If having a lower bar to clear for approval is necessary, then these are solid options.

If you have good credit or better, compare these options to other cards you can get approved for. While the Everyday Cash Back and Unlimited Cash Back cards have competitive earning rates, they don’t come with sign-up bonuses or intro APR offers, which falls short compared to similar cash back cards. You can often get these same rates with additional benefits and incentives, even for cards with no annual fee.

Frequently asked questions

• Is it hard to get an Ally credit card?

  If you get an offer, getting an Ally credit card isn’t difficult. These cards are available to people with bad to good credit. Other approval factors are income, debt, number of open accounts, recent credit inquiries and employment.

• How do you qualify for an Ally Bank card?

  You only qualify for an Ally Bank credit card with an invitation or prescreened offer. While having an invitation to apply increases your approval odds, it doesn’t guarantee approval.

• How do Ally credit cards work?

  While the Platinum card doesn’t earn rewards, it automatically reviews your account periodically for credit line increases, which helps quickly build credit. The Everyday Cash Back card offers 3 percent cash back at gas stations, grocery stores and drugstores and 1 percent on all other purchases. The Unlimited Cash Back card offers a flat cash back rate of 2 percent on all purchases.

What’s next?

Bankrate’s resources can help you find a credit card that matches your profile.

The bottom line

Ally Bank’s invitation-only cards provide access to rewards and simple ways to build credit for people who can’t get cards with other issuers, giving them a chance to grow their credit while reaping the benefits. Competitive earning rates and simple credit building are the benchmarks for Ally’s card lineup.

However, if your credit is good and you have solid approval odds with the best cash back cards, better opportunities to maximize your rewards are available. While Ally matches the competition from an earning standpoint, these cards fall short by not offering welcome offers or additional benefits, which many competitors do. Ultimately, your credit situation will determine whether these cards are worth it for you.