USAA offers credit cards specifically to members of the armed forces and military, including all branches from Navy to American Legion members. Since 1922, USAA has shown their appreciation for those who serve our country by offering helpful financial products that range from auto and life insurance, to loans and credit cards. USAA has developed a full range of credit cards, with varying options and benefits. Here is a list of some of the most common USAA credit cards that you may consider.
USAA Cash Back Card
USAA is not really known for its great rewards credit cards. But, that does not mean that they don’t have any! They just might not be as great when you compare them with some of the other rewards cards that are out there. At first glance, the USAA Cash Rewards Visa card may look appealing, since they advertise a 1.25% cash back rate.
But, when you dig in and read the fine print, you will notice that there is an earning schedule that is dependent upon your yearly spending, and that 1.25% is reserved for those at the highest spending patterns. So, unless you spend more than $17,000 in a year, expect to get a lower rate of cash back. Oh, and we should mention that you only get the cash back rewards once a year, in January, then your spending begins to track all over again for the next year.
There are definitely better options when it comes to cash back Visa cards, but if you are committed to USAA and can justify the other benefits, then at least you are getting something back. There is no annual fee, which is a nice perk. Any reward is better than no reward!
Apply Now: USAA Cash Rewards® Visa®
USAA Rewards Card
Although this card is technically a rewards card, the rewards offered by the USAA Rewards World MasterCard are not exactly the stuff dreams are made of. But, again, any reward is better than none! So, here it is. You get a 1% cash back, flat rate on your purchases. There is no difference in the rewards earning, like the Visa rewards card. There are also no bonus categories to aim for. You do get a sign on bonus of 2,500 points (equivalent to $25 in rewards), which does help things a bit.
And, unlike the Visa rewards card, you can redeem your rewards any time you like, not just once per year. You also have the option of redeeming for cash, travel, merchandise and more. With no annual fee, you have nothing to lose with this card, but you may be able to do better with other rewards cards, like Discover it.
Apply Now: USAA Rewards™ World MasterCard®
USAA American Express Card
Again, here you have a card with no annual fee, which makes it automatically hit the “attractive” list. With this USAA offer, however, the rewards are a bit more enticing. You can earn 1% on all purchases, with a 2% earning rate for the special categories of gas and groceries—the most common categories for most people. There is no limit or cap on the spending or the rewards that you can earn, other than your own credit limit. Like the MasterCard, the USAA American Express Rewards card offers a 2,500 sign up bonus, which does sweeten the pot a bit.
Apply Now: USAA Rewards™ American Express®
USAA Low APR Credit Card
For those who prefer credit cards with low APRs, mainly those who do not make it a habit to pay off their balance in full each month, the USAA Rate Advantage MasterCard may be a great choice. If you have great credit and can qualify for the lowest rate, you will enjoy a rate of 6.9% on all of your purchases and balance transfers, which is pretty low!
Those with not-so-stellar credit may pay up to 23.99%, so this card quickly becomes unattractive unless you are in the top bracket. No annual fee, but no sign on bonus either. And, no cash back rewards. Just a really low APR, worthy of bragging about.
Apply Now: USAA Rate Advantage MasterCard®
USAA Credit Card for Those With Low Credit Scores
Before you read about the USAA Secured Credit Card, you should know that this offer is reserved for military members and their families.
Helping those with low credit scores make things better is one thing that USAA is good at. If you need a credit boost and you can’t qualify for one of the major credit cards, then this might be a great place for you to start rebuilding. A secured credit card will require a security deposit, and, assuming you make your payments on time and behave like a good customer, you will be able to see your credit score rise in a short period of time.
Once you get your credit high enough, you can close this account, reclaim your security deposit, and apply for a traditional, non-secured credit card and move on. There is a minimum security deposit of $250, which earns interest while they hold your money. You do need to agree to a two-year term, but this is a reasonable amount of time to expect to rebuild your credit anyway. The annual fee for this card is a reasonable $35.
USAA has always been a well-respected and reputable bank, and one that offers solid offers to members of any military branch. They might not be the best offers on the market, but most of them offer special perks during times of deployment and assignment, making financial fitness easier for military members and their families while they serve their country. There are certainly better offers out there, but, depending on what you are looking for, USAA may have some attractive options.