Credit Card Review & Application

USAA Cash Rewards American Express Credit Card

4.0

out of 5

- 10.40% to 26.40% APR (Same Rate on Purchases, Cash and Transfers) based on your creditworthiness and other factors. This APRAnnual Percentage Rate will vary with the market based on the Prime Rate.
- No annual fee and no minimum finance charge.
- Earn up to 2.25% cash back on gas and grocery purchases.
- Earn rebates up to 1.25% on your everyday purchases.
- There's no limit to the amount you can earn.
- Enjoy no foreign transaction fees when you travel outside of the United States.



Introductory APR: N/A*
Introductory Period: N/A
APR on Purchases: 10.40% to 26.40% (variable)*
Annual Fee: $0*
Card Issuer: USAA Bank
Card Network: American Express®
Card Category: Consumer (Regular)
Card Type: - Co-Branded Card
- Instant Decision Card
- Low Interest Credit Card
- Military Credit Card
- No Foreign Transaction Fee Credit Card
- Reward Card
Credit Needed: Good*

Providing much needed financial support for military personnel and their families since 1922, USAA is consistently recognized as one of the best financial services companies in the country.

Considering that they are, perhaps, one of the few that is not publicly traded, their ability to meet or exceed customer satisfaction is definitely worthy of great praise. One look at their product line, though, and it is easy to see how they have been able to keep their 8 million customers for so long.

Take a look at the USAA Cash Rewards American Express credit card, for example. This card, obviously, brings together the simple and convenient benefits provided by USAA as well as the world-renown benefits of the credit powerhouse that is American Express. What makes this card especially great, though, is that you are able earn as much as 2.25% cash back on all gas and grocery purchases (and up to 1.25% cash back on everything else), plain and simple.

In addition to cash rebates, something that everyone can enjoy, this credit card has no annual fee and carries no minimum finance charges. This could easily save you several hundred dollars a year, depending on your spending habits. With competitive interest rates on standard purchases, balance transfers, and cash advances, though, this card will definitely come in handy. Keep in mind, however, that your particular interest rate will depend on the market Prime Rate and your personal credit score at the time of application.

What is, perhaps, most interesting about this card is that you can save money simply because of the fact that the fees are low, if not absent. For example, you will find that this card carries no penalty APR; that's the much-higher interest rate that you usually have to pay if you miss a payment. This card does not have one of those. Similarly, you will find that the processing charges for common transactions are low or even with competing cards.

Basically, you can expect to pay no more than 3% on most transactions that issue fees. This includes things like balance transfers, cash advances, and foreign currency exchange transactions. Finally, if saving money is important to you, you will also appreciate that you can avoid paying interest at all just by paying off your balance in full within 25-days of purchase.


The review prepared by . Opinions expressed therein are solely those of the reviewer.

Reward Types: - Cash Back Reward Cards
- Gas Reward Cards
- Universal Reward Cards
Reward Unit: Cash
Rewards: - 2.25% cash back on gas and grocery purchases
- 1.25% cash back on your everyday purchases
- No caps on amount earned
Expiration: None*
Yearly Limit: None
Other Benefits: - Emergency assistance
- Roadside assistance
- Concierge service
- Collision damage waiver coverage
- Zero liability coverage if your card is lost or stolen
- Travel accident insurance
- Deployment/PCS rate
- Special 4% SCRA rate
- Military Campaign Benefits
- Help during deployment
*See Card Terms and Condition for other benefits
Comments: * - Credit Needed: Excellent 740+ & Good 700-739
** - There is a transaction fee of 3% on balance transfers and cash advances ($200 maximum on each balance transfer and each convenience check). Cash Advance Fee is waived when you transfer funds electronically from your USAA credit card to your USAA Bank deposit account. The APR will vary with the market based on the Prime Rate.
Online Account Access: Yes
Introductory APR: N/A*
Introductory Period: N/A*
APR on Purchases: 10.40% to 26.40% (variable)*
Annual Fee: $0*
Grace Period: 25 days*
Late Payment Fee: $35.00*
Balance Transfer: Yes
We do not offer online application for this card at the moment.


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† The information provided for USAA Cash Rewards® American Express® Credit Card is believed to be accurate at the time of evaluation (Apr 30, 2017). We strongly advise visitors to review the terms and conditions to verify accuracy of the information posted prior to applying for the product.




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