A Visa card with travel, identity protection, and shopping perks — as well as benefits for military service members.
USAA offers another solid card with the Rate Advantage Platinum Visa®, combining travel, identity protection, and shopping benefits with appealing finance add-ons for military service members. The card’s purchase, balance transfer, and cash advance rate can be as low as 7.40% - 24.40% Variable depending on creditworthiness, so it’s highly recommended to apply with an excellent credit score.
|Product Name||USAA Rate Advantage Platinum Visa®|
|Balance Transfer Rate (not intro)||3% of the amount of each transfer (maximum fee per transfer $200).|
|APR for Purchases ( Purchase Rate )||7.40% - 24.40% Variable|
|Cash Advance Rate||Same as purchase APR|
|Interest Free Period|
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
|Up to 25 days|
|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 Credit Score||Poor (Below 660)|
|Minimum Age||18 years of age|
|Returned Payment Fee||$35|
|Over The Credit Line Fee||$0|
|Late Payment Fee||$35|
|Cash Advance Fee||3% of the transaction amount (maximum fee is $200)|
USAA Rate Advantage Platinum Visa® review
The Rate Advantage Visa Platinum continues USAA’s line of solid cards for military service members and their family members. Military service members on deployment get a special 4% interest rate on all balances, as well as rebates on all finance charges while on military campaigns. Furthermore, all cardholders will benefit from no annual fees or foreign transaction fees for the card. Finally, the USAA Rate Advantage Platinum Visa® comes with additional perks like rental car insurance, identity protection services, shopping benefits, and travel insurance.
The card’s purchase, balance transfer, and cash advance APR can sit as low as 7.40% - 24.40% Variable, depending on your creditworthiness. You should aim to carry an excellent credit score when applying for the USAA Rate Advantage Visa Platinum.
Benefits of the USAA Rate Advantage Platinum Visa®
- No annual fee. There’s no annual fee to use theUSAA Rate Advantage Platinum Visa® card.
- No foreign transaction fee. You can use your card outside of the United States without accruing any fees.
- 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.
- Identity theft and fraud resolution services. You’ll be covered by your card’s identity theft and fraud services, which include reporting to credit bureaus, Internet monitoring, and reimbursement for unauthorized expenses.
- Shopping benefits with your card. TheUSAA Rate Advantage Platinum Visa® 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.
- Travel insurance. You’ll be covered for baggage delays and any accidents sustained while traveling.
- Special benefits for military service members. Military service members on deployment enjoy additional benefits like a 4% interest rate for up to 12 months on all balances and complete rebates on all finance charges while on military campaigns.
Features of the USAA Rate Advantage Platinum Visa®
- 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.
- Late and returned payment fees. If you’re paying late for the first time within six billing periods, you’ll be charged a $25 fee; otherwise, you’ll be charged $35. The same structure applies to returned payment fees.
- Cap on balance transfers. There is a limit to balance transfers, which is 95% of your credit limit.
- Balance transfer restrictions. Balance transfers from other USAA accounts is not allowed.
- Balance transfer and cash advance fees. There is a fee of 3% of the transaction amount (maximum fee is $200) when initiating balance transfers and cash advances. For cash advances, however, the fee is 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. Based on your credit, you could qualify for a purchase, cash, and transfer APR as low as 7.40% - 24.40% Variable.
How to apply for the USAA Rate Advantage Platinum Visa®
- 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