A low-APR credit card for military personnel and their families.
30-seconds take
- Get this card if you’re affiliated with the military and you want to pay low APR on your balances.
- Pick something else if you want cash back or an intro APR period.
- Apply with a good to excellent credit score of 680 or higher.
| Product Name | USAA® Rate Advantage Visa Platinum® Card |
|---|---|
| Card Type | Visa |
| Annual Fee | $0 |
| APR (Annual Percentage Rate) for Purchases | 8.90% to 25.90% variable |
| Introductory Purchase APR | N/A |
| Balance Transfer APR | 8.90% to 25.90% variable |
| Introductory Balance Transfer APR | N/A |
| Balance Transfer Fee | 3% |
| Cash Advance Rate | 8.9% to 25.9% variable |
| Foreign Transaction Fee | None |
| Cash Advance Fee | 3% of the cash advance amount |
| Cash Advance Fee Description | maximum fee: $200 |
| Interest Free Period | Up to 25 days |
| Late Payment Fee | Up to $35 |
| Returned Payment Fee | Up to $35 |
| Additional Cardholder Fee | $0 |
| Minimum Age | 18 years of age |
|---|
The basics
Military service members and their family can enjoy this low-APR credit card. Military members can get even lower APR on all balances for a certain period of time during deployment or permanent change of station.
In addition, all cardholders can take advantage of shopping, insurance and identity-protection benefits.
The perks
Special benefits for military service members.
Military service members enjoy a 4% interest rate for up to 12 months on all balances during deployment or permanent change of station. Also, if you have a balance when you enter active duty, your rate drops to 4% on that balance until one year after your active duty ends.
Relatively low APR.
Depending on your creditworthiness, you’ll get an APR of 8.90% to 25.90% variable. This rate applies to purchases, balance transfers and cash advances.
No annual fee.
There’s no annual fee to keep this card.
No foreign transaction fee.
You can use your card outside of the US without accruing any additional fees.
You’ll also like …
No penalty APR.
Your APR won’t be raised because a payment fails or you’re late.
Mobile wallet.
Add your card to your smartphone and simplify your payments using Apple Pay, Google Pay or Samsung Pay.
Rental car insurance.
If you rent a vehicle with your card for 15 or fewer consecutive days you can receive rental vehicle insurance covering physical damage and theft.
Shopping benefits with your card.
This card includes price protection and extended warranties on products you purchase. You also get Satisfaction Guarantee Coverage, which allows you to refund payment for products up to $250.
What to watch out for
No grace period for balance transfers and cash advances.
Take note that you’ll accrue interest immediately if you take out a cash advance or initiate a balance transfer.
No intro APR period.
The card doesn’t come with an intro APR period on purchases or balance transfers. But some card members report they received offers for an intro APR period that lasts up to 18 months.
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.
What should I know before I apply?
To apply for the card, you must be a member of the military, a veteran who was honorably discharged or an eligible family member of military personnel. You must also be:
- A US citizen or permanent resident
- At least 18 years old
In your application form, you must provide your:
- Full name and residential address
- Marital status and birthdate
- Contact information
- Proof of employment and income
Bottom line
If you or your family are affiliated with the military and you’re looking for a low-APR credit card without an annual fee, the USAA® Rate Advantage Visa Platinum® Card could be a good choice.
But if you think there could be a better card for you, check out other low interest rate credit cards and compare your options.
