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USAA Cash Rewards® American Express®
USAA continues its line of credit cards geared toward military service members and their families with the USAA Cash Rewards® American Express®. 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 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 13.65%.
Benefits of the USAA Cash Rewards® American Express®
- Possibility for a relatively low 13.65% interest rate. Based on your credit, you may qualify for a purchase, balance transfer, and cash advance APR as low as 13.65% variable.
- No annual fee. You can use the USAA Cash Rewards® American Express® 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 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® American Express®, you will be covered for any damages to the vehicle.
- Shopping benefits. The USAA Cash Rewards® American Express® 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® American Express® comes with travel assistance for travel emergencies, medical needs, legal services, baggage delay, and more.
Features of the USAA Cash Rewards® American Express®
- 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.
- Balance transfer limit. You can initiate balance transfers up to 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 variable APR as low as 13.65% or as high as 27.65%.
How to apply for the USAA Cash Rewards® American Express®
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