Charles H. Miller
The USAA Rate Advantage Visa Platinum® is a simple credit card that doesn’t offer any rewards — no cash back and no points. Instead, it has the lowest APR we’ve seen, starting at just 7.40%. Also included are a number of military benefits (typical with the USAA cards), some shopping and travel perks, and more. There is no annual fee and the same goes for the foreign transaction fee. Here are the details…
Highlights
- 7.40% – 24.40% APR on purchases, balance transfers and cash advances
- Military, shopping and travel benefits
- No foreign transaction fee
- No annual fee
How It Works?
APR: Variable which starts at just 7.40% and goes up to 24.40% for purchases and balance transfers, based on your creditworthiness. There are no over-the-limit fees or penalty rates for late payments.
USAA MemberShop: From where cardmembers can shop with popular retailers such as Macy’s and The Home Depot, and earn additional rewards and savings.
Extended warranty: Up to one year of additional warranty on the manufacturer or U.S. store brand warranty for purchases made with the card.
Car rental insurance: Includes coverage for collision damage for your car rentals.
Military benefits: Including a low APR of 4% on balances for up to 12 months during deployment or PCS, and on existing balances at the time you enter active military duty until one year after you complete active duty. In addition, cardmembers can qualify for a rebate on finance charges accrued during service in a qualified military campaign.
Costs
- 7.40%-24.40% Variable APR
- 3% Balance Transfer Fee ($200 maximum)
- $0 Foreign Transaction Fee
- $0 Annual Fee
Pros
- Low interest – it is the main point of this card, with APR that starts at 7.40% variable. This makes it the lowest APR card on the market.
- Military benefits – these typically come included with USAA cards, making them popular among the military personnel.
- No foreign transaction fee – there are no fees involved when using this card in foreign countries.
Cons
- It’s only good if you are going to get a low APR. And that means if you don’t have a good credit rating, you’ll get a mediocre card that doesn’t offer any rewards. In that case you are better off getting some other card that offers points or cash back on card use.
Is This The Card For You?
Members of the military and their families who are looking for a simple card with a low APR should go for the USAA Rate Advantage Visa Platinum®. It doesn’t offer any rewards (as in cash back or points), but you will get a low APR starting at just 7.40%, instead. Also included are a number of military benefits, and there are no annual and foreign transaction fees. Check it out.
