American Express can offer an excellent means of purchasing merchandise on credit or accessing cash advances. Millions of people have used their American Express Credit Card over the years and speak highly of their experiences. Of course, the value of the card will correlate with the policies of the bank issuing it.
For those wondering if the USAA Cash Rewards American Express card will present good terms and an equally good customer service experience, the answer is yes.
The USAA Bank is well established in the financial industry and has long since proven its ability to offer excellent terms and conditions associated with lending. There are quite a number of different credit cards made available by this bank and the USAA Cash Rewards American Express will prove very popular among those interested in making retail or gas purchases and accruing points or cash back.
Applying for an American Express Rewards Credit Card through the USAA Bank is a very simple and streamlined process.
The application can be filled out online and a response will be forthcoming in only a few business days.
Once the card arrives and is activated, all the many benefits associated with it can be taken advantage of. For those looking for cost saving incentives on their purchases, this card does present them.
Be sure to weigh all your options by using the FREE credit card chaser tool above!
Making a Choice for the Rewards
The sheer volume of benefits associated with the card will draw in the attention of quite a number of persons interested in acquiring a good card with fair fees and terms. There are quite a number of impressive benefits, points, and cash back deals allowing this card to stand out from the crowd.
The process starts with actually choosing the preferred rewards program: points or cash.
The Point Rewards Program
One Point Per Purchase. For each and every dollar spent on purchases made, the card will accrue one point towards the reward balance.
- One Point Per Purchase. For each and every dollar spent on purchases made, the cards account accrue one point towards the reward balance.
- Gas and Grocery Purchases Gain Double Rewards Benefits. When you buy fuel or food, you get $2 for every dollar spent. So, if you invest $15 filling up a gas tank and $30 on groceries, your rewards balance will be a generous 90.
- 2,500 Point Bonus. With the very first purchase made with the card, a 2,500 point bonus will be added to the account. No further actions will be required and the points will be good to use.
- Great Variety Exists Among How the Points Can Be Used. The points can be accrued for the purpose of purchasing top of the line merchandise and buying gift cards with major retailers.
- The Points Awarded Will Not Be Capped and There Will be Not Expiration Date Imposed. Those wishing to use the card without any unnecessary restrictions will find these benefits allow them to redeem their rewards in the most flexible manner possible.
- Rewards Points Can Be Redeemed from a Mobile Phone. Anytime a card holder wishes to redeem points on USAA.com via mobile phone, this can be done. No redemption fee applies.
The Cash Rewards Option
Not everyone will be interested in acquiring points to be redeemed for gifts. They would prefer cash.
That is fine as the USAA American Express Rewards Credit Card offers generous cash rebate deals that come with very easy to follow terms.
- That is fine as the USAA American Express Rewards Credit Card offers generous cash rebate deals that come with very easy to follow terms.
- All purchases receive 1.25% cash back. Any and all retail purchases contribute this percentage back on the redeemable cash balance.
- Gas and Grocery Purchases Receive 2.25% back. This generous cash back amount can cover the common high costs associated with these necessary purchases.
- Cash Rebates Increase with Frequency. The more the card is used, then the greater the cash rebate offers become.
- A Strict No Cap Policy is in Place. There will never be any caps put in place on the amount of money earned through the card.
- Annual Awards at the Beginning of the Year. Each and every January, the cash rebate will be issued for the purchases that were made during the previous 12 months of they year.
The Chart for the Cash Back Program
There is a corresponding chart for the cash back earnings based on how much money is spent on purchase per year. Being well aware of how the chart works allows those wishing to maximize the benefits of using the card to actually do so.
- 0 to $5,000: 0.45% of all annual net purchases.
- $5,000 to $10,000: $22.50 plus 0.85% of all annual net purchases over $5,000
- $10,000 to $17,000: $X5 plus 1% of all annual net purchases over $10,000
- $17,000 and above: $135 plus 1.25% of all annual net purchases over $17,000
Travel and Retail Benefits Associated with the Card
Not all holidays and excursions go as planned. Sometimes, very serious problems can emerge in a completely unexpected way. To help those who may be the victim of a travel mishap, USAA offers excellent additional protections through its card.
- Travel Accident Insurance: In the unfortunate event that an accident occurs while traveling, the card can offer travel accident insurance of up to $1 million.
- Rental Car Insurance: A collision damage waiver is available to cover the costs of physical damage that befalls the car. Theft will also be covered under this insurance umbrella. However, the car must be one with a manufacturer’s suggested retail price of $50,000 or less at the time the card is used to cover the costs associated with the initiation of the rental agreement.
- Assistance Offered to Those Who Run Into Unexpected Trouble: In the case of a vehicle being disabled, roadside assistance and emergency assistance are provided. Concierge service is also include which can take the burden off of those juggling unexpected responsibilities.
- Zero Liability Coverage is Offered: If the card is unfortunately stolen, the card holder can take advantage of zero liability coverage to free them of any costs incurred if the thief opts to use the card.
The Financial Benefits Associated with The USAA American Express Card
USAA Bank tries very hard to make sure the financial terms associated with the card are agreeable to a large number of potential applicants and card members. Reviewing these terms is well advised before actually signing up for an account.
No Annual Fees
Today, a number of credit cards do come with annual fees and some of those fees can be quite high.
For those wishing to avoid unnecessary costs that do not contribute any additional benefits associated with the card, it would be best to acquire a solid card that will not drain the funds of the person acquiring the card.
The Balance Can Be Paid In Full Without Penalty
Those wishing to pay off the balance of the card can do so and not incur any early payment penalties.
This will aid in cutting down the financial drain of paying interest. Those who do want to pay their card over time can do so as well.
Fair Annual Percentage Rate (APR) Assessments
The amount of money an applicant will pay on the APR will be based solely on credit worthiness and past history. The lowest rate is 9.90% and the highest rate is 25.90%. On the surface, the higher end of the interest rate may not seem very fair.
For those who have very poor credit, being approved for a loan is incredibly difficult.
Access to loan funding, even funding at a very high interest rate, can be deemed a positive thing.
These APRs cover purchases, cash advances, and balance transfer. Different interest rates may be applied to each individual action.
No Minimum Interest Charge
For those interested in cutting down on costs associated with any card they apply for, this elimination of an interest charge will prove very appealing.
No Penalty APR
Consider this yet another helpful cost cutting benefit of using this particular card.
The Common Transfer Fees with the Card
A balance transfer fee runs 3% of the amount of each transfer to a maximum of $200. A cash advance would be presented with the exact same costs although when the funds are deposited into a USAA bank account, all fees will be waived.
Foreign transactions will come with a 1% fee for each transaction.
Penalties Associated with the Card.
Misuse of the card can lead to penalties being affixed.
- A $35 penalty will be affixed to those cardholders who are late with payment or present a returned payment due to insufficient funds. There is no penalty for going over the limit on the card.
Special Considerations in Regards to Transferring Balancing to the USAA American Express Card
Transferring a balance on this card is relatively easy, but there are a few terms and conditions in place that must be adhered to.
- Balance Transfer Requests May Be Canceled: The cancellation request must be done within ten days of the initial action on a balance transfer has been performed. Any request for canceling a balance transfer may take up to three weeks to be completed.
- No Transfer of Disputes: When deputes exist on the balance of the other card and the balance is transferred to a USAA American Express card, the dispute does not transfer to USAA. The transfer could result in a loss of rights with the initial creditor.
- No Grace Period Exists: The 3% (max $200) credit transfer fee cannot be paid off during any initial billing cycle as there is no grace period in effect to cover the fee.
- A Balance Transfer May be Rejected: Commonly, a balance transfer will be rejected because the request is in an amount that exceeds the credit limit on the card assuming the new debt.
- No Accounts are Closed: When a balance transfer is performed, the account where the balance is paid off is not closed. It remains open and active.
Review all terms before transferring a balance.
Deciding if this Card is For You
It can be difficult deciphering the terms of a credit card. With so many options for so many needs, comparing cards is a very smart move.
Now it’s simple to compare several cards at once with the FREE credit card chaser tool above!
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