USAA® Preferred Cash Rewards Visa Signature® Card

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Natalie Campisi @NatalieMCampisi  in  Cash Back Advertising Disclosure
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Recommended Credit Score

Excellent to Good (670 - 850)

A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

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Annual Fee:
$0
Purchase Intro APR:
N/A
Regular APR:
14.15% - 28.15% Variable
Terms and Restrictions Apply

Bankrate Rating

Commonly used for: Auto Rental Insurance, Cash Back, Concierge Service, EMV, Excellent Credit, Extended Warranty Program, Low Interest, Mobile Pay Ready, No Annual Fee, No Foreign Transaction Fees, Purchase Protection, Rewards, Travel Accident Insurance, Travel Assistance, Unsecured credit card, Visa Signature®, Zero Fraud Liability.

For active duty military service members who carry a balance, the USAA Preferred Cash Rewards Visa Signature could prove a financial life preserver.

Review

Even if you’re not an active duty service member, the USAA Preferred Cash Rewards Visa Signature offers attractive benefits, most notably its 1.5% cash back on all purchases, without limits or restrictions. Most non-rotating cash-back cards offer 1%, so the extra half percentage point definitely is a score in its favor.

Cardholders also will save on some common fees. With this card, there’s no annual fee or penalty APR. You also won’t be charged a foreign transaction fee, which is especially attractive if you’re in the military and stationed overseas.

Another valuable travel benefit includes worldwide rental car insurance when you use your card for the entire rental cost. Coverage consists of physical damage and theft of the vehicle; reasonable loss-of-use charges incurred from the rental car company if the car becomes inoperable; and towing charges to the nearest collision repair facility.

The USAA Visa Signature Card cardholder and those designated in the rental agreement as authorized drivers are covered under this insurance.

Not to be outdone by some of the higher-end travel cards, USAA Cash Rewards Visa Card cardholders get 24/7 concierge service access. This handy perk could be a lifesaver for people with busy schedules as the concierge will handle everything from on-site assistance with everyday household needs (this includes accepting home deliveries when you can’t be there) to pre-trip planning services.

Active duty military service members even get access to help before, during and after deployment.

Who should get this card

With such a wide variety of perks, this card could be a good fit for many types of consumers. Along with service members who are about to be deployed, this could also be a worthwhile choice for other USAA members. They can optimize their cash-back rewards by shopping at the USAA MemberShop which gives members more cash back rewards, in addition to what the card already offers.

Remember, though,  you must qualify for USAA membership in order to grab this credit card.

Advantages
  • There's no limit on the amount you can earn.
  • This card has minimal fees; there’s no annual fee; no penalty APR; and no foreign transaction fee.
  • USAA and Active duty service members get extra benefits.
Disadvantages
  • There is a cash advance fee and a balance transfer fee of 3%.
  • There is no sign-up bonus.
  • You could get more competitive cash back rewards if you choose a card with rotating categories.

Fees and APR

  • There’s no annual fee.
  • You’ll pay no foreign transaction fee when using the card for purchases outside of the U.S.
  • The annual percentage rate is a variable  14.15% – 28.15% based on your creditworthiness.
  • There is a balance transfer fee of 3%.

Extras, perks and using rewards

Cardholders get an assortment of benefits – from rental car insurance to extra rewards points for USAA members.

With the price protection feature of this card, you may be eligible for a refund of the price difference if you find a lower price on a new item you bought with the card within 60 days of your purchase.

This card offers extended warranty protections, which doubles the original manufacturer warranty up to a maximum of twenty-four months on most items you purchase.

Cardholders also receive access to a 24-hour concierge service.

Redeem cash back through the USAA Rewards Service Center in increments of at least $1.