Credit Card Review & Application
- 10.40% to 26.40% based on your creditworthiness and other factors. This APRAnnual Percentage Rate will vary with the market based on the Prime Rate.
- No annual fee.
- Earn 2X points per dollar spent on gas and groceries with no caps.
- Earn one point for every dollar spent on your everyday purchases.
- Get 2,500 bonus points with your first purchase.
- There's no expiration date or caps on any points earned.
- Redeem your points for cash, merchandise, gift cards or travel or donate to your favorite military affiliate group.
- Enjoy no foreign transaction fees when you travel outside of the United States.
- Membership eligibility and product restrictions apply and are subject to change.
|APR on Purchases:||10.40% to 26.40% (variable)*|
|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
USAA and American Express have come together to bring consumers a simple, convenient, and very beneficial credit card with, quaintly put, the USAA Rewards American Express credit card. This card is best for members who want twice as many points as the standard card on things like gas and groceries as well as a low, competitive interest rate, and a flexible payment schedule and fees. This is the latest financial product from a company upon which American military personnel have relied since 1922.
First of all, the USAA Rewards American Express credit card lets you earn more points than the average card and gives you more flexible ways to use them. For example, you will earn two times the points on gas and groceries with no seasonal limitations. You will also be able to take advantage of 2,500 bonus points after your first qualifying purchase. With no caps or limits on the amount of points you can earn (and with gas prices still at record highs) it should be easy to earn as many points as you need to redeem them towards the rewards you desire.
Speaking of rewards, you can use your purchase points towards a wide variety of USAA Rewards. This includes cash rebates, gift cards, specific name brand merchandise, and travel incentives. Furthermore, you can take advantage of your travel rewards with freedom from blackout dates, something you will not find with every card on the market today. Finally, you can redeem your points at any time through usaa.com or even your mobile device with no redemption processing fee. Keep in mind that the value of your points depends on how you choose to redeem them.
Another benefit of the USAA Rewards American Express credit card is the low interest rate. Since there is no annual fee, you could find this card saves you a bit of money over other cards you may be considering. Of course, you can avoid interest altogether by simply paying your balance in full and on time within 25 days after the close of your billing cycle. Basically, you need to pay off new charges every month and you can avoid interest entirely.
Like any other credit card, this particular USAA product carries a few standard fees. Thus you can expect to pay from 1%-3% on all foreign transactions, balance transfers, and cash advances. These processing fees are in addition to the individual interest rates for each type of balance you could carry. Also, you can expect to pay penalty fees for late payments and having a payment returned, which are standard for most credit cards today.
The review prepared by CreditCardsCo™. Opinions expressed therein are solely those of the reviewer.
|Reward Types:||- Gas Reward Cards|
- Other Rewards Cards
- Universal Reward Cards
|Rewards:||- 2,500 Bonus Points after your first purchase|
- 2 points on gas and grocery purchases all the time
- 1 point on every other dollar spent
|Other Benefits:||- Collision damage waiver|
- Identity theft resolutions services
- Extended warranty
- Chip card technology
Special Military Benefits:
- Deployment/PCS rate
- Special 4% SCRA rate
- Military Campaign Benefits
- Help during deployment
*See Terms and Condition for more benefits
|Comments:||* - Credit Needed: Good 700-739 & Excellent 740+|
** - 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|
|APR on Purchases:||10.40% to 26.40% (variable)*|
|Grace Period:||25 days*|
|Late Payment Fee:||$35.00*|
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† The information provided for USAA Rewards™ American Express® credit card is believed to be accurate at the time of evaluation (Dec 29, 2016). We strongly advise visitors to review the terms and conditions to verify accuracy of the information posted prior to applying for the product.