Ally Platinum Mastercard® review: A chance to build credit, if you can get it

Great for no annual fee

Annual Fee: $0
This content is curated by Intuit Credit Karma’s Editorial team using data from members who were approved for this card or similar cards, or who self-matched this card or similar cards. Intuit Credit Karma receives compensation from third-party advertisers, but that doesn’t affect our editors’ opinions. Our third-party advertisers don’t review, approve or endorse this content. Information about financial products not offered on Credit Karma is collected independently. Our content is accurate to the best of our knowledge when posted.
Here’s the average credit limit of members who matched their Ally Platinum Mastercard® or similar cards.
% of members by credit limit range
The average credit limit for members who have matched with this card or similar cards is $2,282, with $300 being the most common.

Here’s the average credit score of members who matched their Ally Platinum Mastercard® or similar cards.
% of members by credit score range
The average credit score for members who have matched with this card or similar cards is 610, with 572 being the most common. Note this is just one of the deciding factors when it comes to getting approved.

Member stats
Updated daily

52.4%
Average credit utilization (or what percent of the card’s credit limit is being used) of members who matched with this card or similar cards.

44 years
Average age of members who matched this card or similar cards.

$75,979
Average annual income of members who matched this card or similar cards. Note: Income may be estimated for some members by Credit Karma and may differ from members’ actual incomes.
Pros and cons

No security deposit required

No annual fee

No penalty APR

Card offered by invitation only, so you might not be able to apply

High variable APR for both purchases and balance transfers

No rewards program
Ally Platinum Mastercard® review
Updated November 4, 2024
This date may not reflect recent changes in individual terms.
Written by: Ben Luthi
Core features of the Ally Platinum Mastercard®
The Ally Platinum Mastercard® could be an option for people who want to build their credit without having to worry about a security deposit or an annual fee. But there are some things to know before you decide if this card is right for you.
Not everyone can apply
Unlike many credit cards, applications for the Ally Platinum Mastercard® aren’t open to everyone. You need an invitation offer from the issuer to apply for Ally’s credit cards.
If you have an offer, you can respond to it on Ally’s website. But keep in mind that your offer isn’t a guarantee of getting the card — you still need to go through the application process to determine whether you’re approved for the Ally Platinum Mastercard®.
Light on fees …
The Ally Platinum Mastercard® doesn’t charge an annual fee, a foreign transaction fee or fees for going over your credit limit or having a payment returned. Also, Ally doesn’t charge a penalty APR if you miss a payment.
Not having to worry about these fees can bring peace of mind to anyone who’s looking to continue building credit, especially if you’ve struggled with some of these issues in the past.
… But you might get hit with interest
On the other hand, the Ally Platinum Mastercard® has a high variable 29.99% APR for purchases, balance transfers and cash advances (you might see different terms on Credit Karma). If you get the Ally Platinum Mastercard®, it’s a good idea to prioritize paying your statement balance on time and in full every month, and not take out any cash advances, to avoid having to pay that higher standard interest rate.
Keep in mind that there’s a balance transfer fee of 4% (minimum $5) of the transfer amount. If you’re thinking about a balance transfer, consider the many risks of balance transfers, too.
Other card details to know
The Ally Platinum Mastercard® provides eligible consumers with a relatively straightforward way to build or rebuild credit. Here are some other details that could add value, too.
- The card issuer will automatically review your account periodically to see if you qualify for a credit line increase
- Free access to your FICO® credit score
- Zero-liability fraud protection
Who this card is good for
Unfortunately, you can’t apply for the Ally Platinum Mastercard® unless you’ve received an invitation offer from the card issuer. But you can still consider the card’s offerings and whether it could be a good choice for you in case you ever do receive that invitation.
If you’ve received an invitation from Ally, the card could be a good option if you’re looking to continue building credit without the potential distractions of a rewards program or security deposit.
Not sure this card is for you? Consider these alternatives.
The Ally Platinum Mastercard® could be a decent option for people with fair credit looking to establish a solid credit history. But it’s not the only credit card out there that considers people with fair credit histories.
- Capital One QuicksilverOne Cash Rewards Credit Card: This card could be a good option for people who want to earn rewards while building credit and don’t mind paying an annual fee.
- Capital One Platinum Credit Card: This card has similar features to the Ally Platinum Mastercard® but doesn’t require an invitation.
- Petal® 2 Visa® Credit Card: This card may be a solid choice if you want rewards with no fees (apart from any potential interest payments).
Member reviews
Most helpful positive review
January 24, 2024
Perfect rebuilding tool
— Credit Karma Member
It was quite a surprise to be approved for this card with a no interest for 9 months promotional interest rate. With everything seeming to be going up it allowed me to pay down some balances to help me get back into being debt free. Thanks Ally for being a bank I could trust.
Most helpful negative review
April 3, 2023
Very rude customer service!
— Credit Karma Member
Very disappointed with customer service. I deposit money on my account on March 29 and money on my account would be available on April 5.