I got some cash back from my Ally card. If you would like to read the initial review of the card please click here. I decided to redeem the cash back to my savings account instead of taking it as an account credit.

The redemption options are:

-statement credit

-direct deposit

(If you are not reading this post at www.howisavemoney.net or in your feed reader, it may have been stolen from my site.)

This card gives an additional 10% cash back if you redeem the points towards your savings account. This may not seem like a lot but every cent counts.

You cannot redeem points for gift cards or merchandise like you can with some other cards. This may not appeal to everyone, however it is not a problem for me.

ally cashback card

img from ally.com

In this case, fewer options means that Ally can keep their costs down. This may play into why they can afford to give such a generous bonus for direct deposit when you redeem to your savings account.

What I redeemed this month:


Your redemption summary

Cash Back Rewards redeemed: $40.03
Deposit amount before your 10% Ally Deposit Bonus: $40.03
10% Ally Deposit Bonus amount: $4.00
Total Cash Back deposited into your Ally Bank account: $44.03


So far I really like the card. It is easy to redeem the points and I can get a bonus 10% for depositing it to my account.

How You Earn Points:

  • 2% per dollar at Gas stations
  • 2% per dollar at Grocery stores
  • 1% per dollar for all other purchases

This is similar to other cards, however the bonus upon redeeming is what sets it apart.