Ally Bank and TD Bank have unveiled the Ally CashBack Credit Card program.
The new card features an additional ten percent bonus if cash back rewards are redeemed into an Ally Bank non-IRA Online Savings, Interest Checking or Money Market Account.
Ally CashBack Credit Card holders will be eligible to earn the following rewards with their new card:
• 2% cash back on eligible gas and grocery purchases
• 1% cash back on other purchases
• Uncapped rewards that never expire for accounts that are open and in good standing
Benefits include 24/7 customer service as well as online and mobile access to their accounts.
Based on a recent survey conducted by Ally Bank, 58% of respondents who have a credit card said they preferred cash back rewards, topping interest in travel rewards, store promotions and introductory interest rates or bonus rewards.
In addition, 80% of consumers with credit cards said they would prefer to have multiple financial products, (such as a bank account, loan or credit card) with the same bank if they earned rewards for doing so.
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