A no-annual-fee card for military families that comes with solid cash back rewards and numerous Visa benefits.
USAA’s products are available only to military families, and they offer many benefits that clear the field. Military service members on deployment will like the USAA Cash Rewards® Visa Signature® Card’s generous interest rates; meanwhile, all cardholders will be pleased with no annual fees, no foreign transaction fees, and solid cash back rewards. The wide-ranging collection of Visa perks — including shopping, concierge, and travel services — round out an attractive card.
| Product Name | USAA Cash Rewards® Visa Signature® Card |
|---|---|
| Intro APR for Balance Transfer | 3% Intro APR (with 3%% balance transfer fee) |
| Balance Transfer Rate (not intro) | 12.90% to 26.90% |
| APR for Purchases ( Purchase Rate ) | 12.90% to 26.90% Variable |
| Annual fee | $0 |
| Cash Advance Rate | 3% of the amount of each cash advance (maximum fee for each convenience check: $200). |
| Card Type | Visa |
| Returned Payment Fee | $35 |
| Foreign Currency Conversion Fee (VISA) Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution. | 0% of transaction value |
| Minimum Interest | $0 |
| Minimum Credit Score | Fair (660-699) |
|---|---|
| Minimum Age | 18 years of age |
| Annual fee | $0 |
|---|---|
| Returned Payment Fee | $35 |
| Over The Credit Line Fee | $0 |
| Late Payment Fee | $35 |
| Cash Advance Fee | 3% of the amount of each cash advance (maximum fee for each convenience check: $200). |
USAA Cash Rewards® Visa Signature® Card
USAA continues its line of credit cards geared toward military service members and their families with the USAA Cash Rewards® Visa Signature® Card. Active military members will benefit from a very low 4% interest rate on all balances for 12 months while on deployment, as well as complete rebates for finance charges while they are on military campaigns. And they and their families will enjoy a card with no annual fees and no foreign transaction fees.
Having the ability to earn up to 1.25% cash back on purchases made with the card is a very attractive feature. So is Visa’s suite of perks, which includes rental car insurance, price protection and extended warranties, concierge services, and travel assistance. These benefits all round out a card that cardholders may be able to acquire at a purchase, balance transfer, and cash advance interest rate as low as 12.9%.
Benefits of the USAA Cash Rewards® Visa Signature® Card
- Possibility for a relatively low 12.9% interest rate. Based on your credit, you may qualify for a purchase, balance transfer, and cash advance APR as low as 12.9%.
- No annual fee. You can use the USAA Cash Rewards® Visa Signature® Card without having to maintain it with an annual fee.
- No foreign transaction fee. You can use your card abroad without incurring foreign transaction fees.
- Cash rewards. You can receive up to 1.25% cash back based on your spending on everyday purchases.
- No cap on cash rewards. You can earn as much cash back as your spending allows. Your cash rewards are also redeemable anytime.
- Special benefits for military service members. Military service members on deployment enjoy additional benefits like a reduced 4% interest rate for up to 12 months on all balances and complete rebates on all finance charges while on military campaigns.
- Rental car insurance. When you pay for a rental vehicle with the USAA Cash Rewards® Visa Signature® Card, you will be covered for any damages to the vehicle.
- Shopping benefits. The USAA Cash Rewards® Visa Signature® Card offers price protection and extended warranties for your purchases.
- Concierge service. Visa’s concierge service can help you find accommodations for dining, hotels, travel, entertainment, and special occasions. It can also provide everyday services like fulfilling household needs and sending reminders for important dates or events.
- Travel services. The USAA Cash Rewards® Visa Signature® Card comes with travel assistance for travel emergencies, medical needs, legal services, baggage delay, and more.
Features of the USAA Cash Rewards® Visa Signature® Card
- No grace period for cash advances or balance transfers. If you take out cash with the card or initiate a balance transfer, you’ll accrue interest immediately.
- Late and returned payment fees. If it’s your first time paying late within the previous six billing periods, you’ll pay a $35 fee; otherwise, you’ll pay $35. The same fee structure applies to returned payments. Neither fee can exceed the minimum payment on your most recent bill.
- Balance transfer limit. You can initiate balance transfers up to 95% of your credit limit.
- Restrictions on balance transfers. Balance transfers from USAA accounts are not allowed.
- Balance transfer and cash advance fees. Balance transfers and cash advances each come with a 3% transaction fee, capped at $200 per transaction. Cash advance fees are waived when you make electronic transfers to USAA accounts.
- Only for members of the military and their family members. To qualify for the card, you need to be an active military member, a veteran who was honorably discharged, or an eligible military family member.
- Sliding APR scale. Depending on your credit, you could qualify for a purchase, cash, and transfer APR as low as 12.9% or as high as 26.9%.
How to apply for the USAA Cash Rewards® Visa Signature® Card
Eligibility criteria
- You are a U.S. citizen or permanent resident of the U.S.
- You are at least 18 years old
- You are a member of the military, a veteran who was honorably discharged, or an eligible family member of military personnel
Required documents & information:
- Your name, residential status, and residential address
- Your Social Security number
- Your email address, phone number, and date of birth
I have three high interest credit cards with balances I’d like to transfer to your Visa Signature card. The total of all the balances = $21,000 and my credit score is 756. I’m a Navy veteran, honorably discharged in 1977. Would I be eligible for this card and would I be able to transfer that much of a balance?
Hi Bob,
Your situation sounds like one where a balance transfer credit card might help. USAA states that the credit limit they might extend to you is dependent upon your application criteria and credit history. If your application is approved and the credit limit you are granted high enough, you can use up to 95% of that credit limit for transferring your balances.
As a Navy vet (thank you for your service!) you are eligible for a USAA membership. You can apply for membership at the same time as you apply for your new card.
I hope this information was helpful.
Cheers,
Adrienne