The USAA Preferred Cash Rewards Visa Signature® is a perfect card for military personnel looking for a simple rewards card. It offers unlimited 1.5% cash back on every purchase. The APR is variable in the 12.40% – 26.40% range, and it applies to purchases, balance transfers and cash advances. There is no annual fee, and the same goes for the foreign transaction fee. As that’s the case with all USAA cards, this one also includes an array of military benefits. Here are the details.
- Unlimited 1.5% cash back on every purchase
- 12.40% – 26.40% variable APR on purchases, balance transfers and cash advances
- Military and travel benefits
- No foreign transaction fee
- No annual fee
How It Works?
Cash back: Unlimited 1.5% on every purchase. You can redeem cash rewards anytime using your mobile device or computer.
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.
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.
Travel benefits: Visa Signature travel perks such as concierge services to assist with whatever you need, and collision damage waiver coverage that pays for physical damage and theft to most rental vehicles. Also, there is no foreign transaction fee.
Costs
- 12.40%-26.40% Variable APR
- 3% Balance Transfer Fee ($200 maximum)
- $0 Foreign Transaction Fee
- $0 Annual Fee
Pros
- Easy to grasp rewards – get 1.5% cash back on every purchase. There is no limit to the amount you can earn.
- Military benefits – these typically come included with USAA cards, making them popular among the military personnel.
- Travel benefits – including those that are included with Visa Signature cards. Also there is no foreign transaction fee.
Cons
- Potentially high APR – based on your creditworthiness, you may end up with a rather high APR of up to 26.15%. In that case, and if you still want this card, you are best off paying your balance in full and on time.
Is This The Card For You?
If you are a member of the military and want a simple rewards card, the answer is YES. With USAA’s Preferred Cash Rewards Visa Signature® you’ll get 1.5% cash back on every purchase with no limit to the amount you can earn. The APR is variable ranging from 12.40% to 26.40%. The card has no annual fee and no foreign transaction fee.