Getting cash back on every purchase is a huge incentive to sign up for a cash rewards credit card, but how do you know which one to choose? If you’re an active duty member, military or retiree, the USAA Preferred Cash Rewards VISA Signature lets you put money back in your pocket every time you spend. This card pays unlimited 1.5% cash back on every purchase, there’s no cap on how much cash back you can earn, and there’s no annual fee.
We provide full details about the features and benefits of USAA Preferred Cash Rewards VISA subscription.
USAA Preferred Cash Rewards VISA Signature Card Pros & Cons
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Easy Unlimited Cash Back Rewards
With some cash back rewards cards, the cash back amount depends on how much you spend and where you shop. For example, some cards will pay you more for groceries, while others will pay you more for gas.
While these cards can have high reward rates, some of them limit the amount you can earn. Once that threshold is reached, your reward rate on these purchases tends to drop to 1%. Other cards require you to log in quarterly to activate the bonus. If you don’t do this, you will have to get a 1% cash back again.
With the USAA Preferred Cash Rewards VISA Signature, you don’t have to worry about this because the card has an easy rewards program. All items you purchased can obtain a cash back rate of exceeding the basic 1%. So you don’t have to worry about categories or boundaries.
Earn and redeem cash back with your card
Earn 1.5% cash back on every purchase with your card. You’ll earn the same amount of rewards whether you’re fueling up, shopping every week, or booking a flight for your next vacation.
You can collect as much cashback as you want, and your rewards won’t expire as long as your account is open and in good standing. You can redeem your rewards for any amount at any time, such as a statement balance or into a USAA checking or savings account. All in all, this card makes it easy to get cash back and use it wisely without any hurdles.
Military Special Card Benefits
Besides the easy cash back program, there are other reasons to consider getting the USAA Preferred Cash Rewards VISA signature. USAA offers military members several valuable benefits when opening an account, including:
- Special Ops/PCS-APR – You can temporarily suspend the card’s APR while performing a mission or receiving a PCS command to permanently change sites. For the first 12 months of deployment or PCS, USAA will reduce your rate by up to 4%. After that, it reverts to a regular variable rate based on the prime rate.
- Reduced SCRA APR – Active duty military members who are enlisted and have a balance on their card can also have their interest rate reduced for up to one year after separation. Like the provisioning rate, this APR can be as low as 4%.
- Funding Charges Refund – As long as you participate in eligible military activity, USAA will reimburse any funding charges incurred during your absence.
- Interest rebates – USAA also rewards its cardmembers for outstanding service. If you have been awarded the Global War on Terrorism Expedition Medal, the Afghanistan Campaign Medal or the Inherent Resolve Campaign Medal, you can return any interest charges accrued on the card during the campaign period back to your account.
All of these benefits add to the card’s attractiveness, but not automatically. You must provide USAA advance warning to activate all benefits to which you are entitled when starting a deployment, receiving a PCS order, or earning any of the above campaign medals.
Not a card that carries a credit card
As with any credit card, it’s worth reading the fine print about APRs and fees before purchasing. In terms of fees, this card has no annual fee and no overseas transaction fee. This means you won’t have to pay the typical 3% fee for using your credit card abroad (which is especially good if you’re abroad).
There are late fees of up to $35, and balance transfers or cash advances will cost 3% of your transaction amount. You won’t be penalized if you pay late, and APRs for purchases, balance transfers, and cash advances are competitive with those offered by other cards.
Your APR depends on your creditworthiness. The higher your credit rating, the cheaper your interest rate. If you end up with a higher interest rate, paying your balance in full each month is the best way to avoid interest costs altogether.
In general, it’s not wise to have a balance on a rewards credit card, as the cost of interest may outweigh the value of the rewards. If you think you’ll maintain a monthly balance, consider a low APR credit card.
Safety, Travel and Shopping Benefits
USAA takes the security of your personal information very seriously and wants you to feel confident using your card wherever you go. With that in mind, members can use these Visa Signature add-ons for free:
- EMV chip technology
- Identity Theft Resolution Services
- Identity Fraud Compensation
- Moving service
- Emergency Travel Assistance Service
- Worldwide Travel Accident, Baggage Delay and Cancellation Insurance
- Comprehensive car rental insurance
- Purchased Extended Warranty Protection
- price protection
Your cardholder agreement contains full details on how these different features work and when they can be used. If you are filing an insurance claim or just want more information, you can call the USAA Assistance Center for help.
Membership is limited to military affiliation
USAA Preferred Cash Rewards VISA Signature is only available to USAA members. USAA membership is open to:
- Active duty, retired and honorably discharged officers and U.S. military personnel
- Officer Candidates in Commissioning Programs (Academy, ROTC, OCS/OTS)
- Adult children of USAA members who have or have had a USAA auto or property insurance policy
- Widows and widows of USAA members who have or have had a USAA auto or property insurance policy
If you do not meet any of these conditions, you cannot apply for this card.
Compared to other USAA cash back credit cards
USAA Preferred Cash Rewards VISA Signature is just one of several rewards cards offered by USAA. If you’re looking for a different type of rewards program, we’ve also covered three other USAA cards that might be worth considering.
SEE ALSO!
- American Express Centurion Black Card Review
- X1 Credit Card – Check how to apply.
- Destiny Credit Card – How to order online.
- Delta Skymiles® Reserve American Express Card Review – See more.
- American Express focuses on customer experience with new checking account and redesigned application
USAA Cash Reward Visa Signature
Map Features:
- Get Unlimited 1.25% Cash Back on Every Purchase
- No annual fee
- including military benefits
- Benefits of Visa Signature
Although the names appear to be nearly identical, the USAA Cash Rewards Visa Signature differs from the USAA Preferred Cash Rewards VISA Signature in one very important aspect: the cash back program. Instead of earning 1.5% cash back, this card gives you 1.25% back on every purchase.
On top of that, you get the same military benefits, including reduced deployment APR and Visa Signature benefits. So why choose this card over the USAA Preferred Cash Rewards VISA Signature Card? This card offers a lower starting APR. So it might be better if you have good credit and plan to strike a balance.
American Cash Rewards American Express
Map Features:
- Earn up to 2.25% cash back on gas and groceries
- Earn up to 1.25% cash back on daily purchases
- No foreign transaction fees
- No annual fee
If you spend a lot of money on gas each month or at the grocery store to feed your growing kids, you might like USAA Cash Rewards American Express. This card gives you up to 2.25% cash back at grocery stores and gas stations, and up to 1.25% back on everything else.
However, this card isn’t a good choice if it’s just an occasional spend. To maximize your cash back rewards, you must spend at least $17,000 per year. Otherwise, you will get a lower cash bonus rate. The good thing is that there is no annual fee, so there are no additional charges that drain your premium each year.
USAA Cash Back Rewards Plus American Express
Map Features:
- 5% cash back on the first $3,000 spent annually on combined purchases of gasoline and military bases
- Earn 2% annually on the first $2,000 you spend at the supermarket
- Earn unlimited 1% cash back on everything else
- No foreign transaction fees
- No annual fee
American Express USAA Cashback Rewards Plus is designed for military members who pay most of their daily expenses at the gas station, grocery store or grocery store. You’ll get $190 in cash back when you hit the 5% and 2% annual bonus payout limits. After that, you’ll get unlimited 1% back on those purchases, no matter where you use the card.
One possible problem with this card is that American Express is not as widely used as Visa. If you’re not sure whether this card makes more sense than other options, you can estimate how much you typically spend each year on gas, groceries, and consignment purchases, and which one works best.
USAA Preferred Cash Rewards VISA Signature is a great choice when you want hassle-free cash back rewards with no annual fee. The added benefits for military personnel also make it the top choice for traditional rewards credit cards. Remember, if you have a balance, interest can seriously affect the value of the cashback you earn.
If you want a simple rewards program with plenty of military benefits — and no monthly balance — this card is for you.
SEE ALSO!
- American Express Centurion Black Card Review
- X1 Credit Card – Check how to apply.
- Destiny Credit Card – How to order online.
- Delta Skymiles® Reserve American Express Card Review – See more.
- American Express focuses on customer experience with new checking account and redesigned application
