USAA Rewards™ American Express® Card Review | finder.com

Review: USAA Rewards™ American Express® Card – April 2018

If you’re in the military and looking for a card with benefits, this may be the card for you.

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USAA Bank has been helping military members and their families since 1922. The USAA Rewards™ American Express® Card lets you earn rewards points to use spend on merchandise, travel, gift cards, cash or military affiliate group donations. You get 1x points for every dollar you spend, and gas and grocery purchases earn you 2x points.

Product NameUSAA Rewards™ American Express® Card
Balance Transfer Rate (not intro)11.15% to 27.15% variable
APR for Purchases ( Purchase Rate )11.15% to 27.15% variable
Annual fee$0
Cash Advance Rate11.15% to 27.15% variable
Card TypeAmerican Express
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 (AMEX)
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 ScoreFair (660-699)
Minimum Age18 years of age
Annual fee$0
Returned Payment Fee$35
Over The Credit Line Fee$0
Late Payment Fee$35
Cash Advance Fee3% of the amount of each cash advance (maximum fee for each convenience check: $200)
Rewards ProgramAmerican Express Rewards
Bonus Points on Sign-up2,500
Rewards Points per $ spent (VISA/MC)2
Points ExpiryNever

The basics

With the USAA Rewards™ American Express® Card, pay back balances over time and earn rewards points as you spend. If you’re a USAA member with good to excellent credit and are affiliated with the military, the online application makes it quick and easy to be approved.

The APR is variable, and ranges from 11.15% to 27.15% variable. The card includes a variety of security, travel and retail benefits. With no annual fees and online access to your account, this card is a good choice if you want rewards.

The perks

  • No annual fee. You won’t pay an annual fees for the life of the card.
  • Benefits. Security, travel and retail benefits are included with the card, with access to concierge services for traveling.
  • Collision damage waiver coverage. Pays for physical damage and theft when you rent a car.
  • Rewards. Earn points on everyday purchases with the card, with 3X points per dollar on dining, 2X points per dollar on gas and groceries with no limit on how much you can earn, and 1x point for every dollar spent on all other purchases. For your first purchase, you’ll get 2,500 bonus points. Points never expire, and can be redeemed on a variety of items, like gift cards, merchandise, travel, donations to the military affiliate group or even cash.
  • Identity theft resolution services. Provides assistance, should you become the victim of identity theft.

You’ll also like

  • Special 4% SCRA rate. You’ll get 4% APR on your existing balance when you enter active duty.
  • Deployment/PCS Rate. Get 4% APR on all balances for up to 12 months during deployment or PCS. After 12 months, the regular APR, currently between 11.15% to 27.15% variable, will apply. This rate will vary with the market, based on the prime rate.
  • Military Campaign Benefit. You’ll get a rebate on all finance charges accrued while you served in a qualified military campaign.

What should I know before I apply?

Eligibility criteria

In order to apply for the USAA Rewards American Express Card, you must be a member of the military, a veteran who was honorably discharged or an eligible family member of military personnel. You also must be:

  • A US citizen or permanent resident
  • At least 18 years old

Always consider your options and your financial situation before you apply for a credit card.

Required documents & information

  • Full name and address
  • Marital status
  • Birthdate
  • Contact information
  • Proof of employment and income

Bottom line

If you’re affiliated with the military and looking for a credit card that earns rewards points, the USAA Rewards™ American Express® Card could be a helpful solution. Before choosing this card, be sure to compare it with other credit card options.

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