The USAA Cash Rewards World MasterCard is a credit card that the company USAA released to cater to the military class. USAA is a financial services organization that provides a wealth of services to its specialized personnel. The company offers credit cards, insurance, investment help and advice.
The USAA Cash Rewards World MasterCard is one of USAA’s most popular credit cards. It offers a wide range of features and benefits, including the ability for the cardholder to earn cash back on purchases.
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How People use the USAA Cash Rewards World MasterCard
The USAA Cash Rewards World MasterCard is adorned with a MasterCard logo. Therefore, the people who hold the card can use it in over 22 million various locations all over the world.
The tasks that a person can perform with a credit card that bears the MasterCard logo are endless.
Cardholders can use the card to make every day purchases such as grocery shopping and fuel refilling. They can use the card to reserve hotel rooms, airline tickets and automobile rentals.
People who like to perform online shopping can purchase from thousands of vendors. Additionally, someone who would like to pay for monthly subscriptions can use the card to do that.
Qualifying for the USAA Cash Rewards World MasterCard
A consumer must meet many requirements before qualifying for the USAA Cash Rewards World MasterCard. First, the individual must be 18 years of age or older to legally sign a credit card contract. He or she must also be a resident of the United States of America.
Next, the person applying for the card must have military affiliation, as the card is reserved for members of this elite class. Qualifying applicants either will be currently in the military, previously released from the military, or related to someone in the military by blood or marriage. Those who do not meet the criteria will not be eligible for the USAA Cash Rewards World MasterCard.
A person’s approval for a USAA Cash Rewards World MasterCard is also contingent upon his or her credit score.
The lender requires that the person have excellent credit. Excellent credit consists of a score that is above 750 points. To obtain and maintain a good credit score, a debtor must always pay his or her bills on time.
Sometimes other elements cause a credit score to drop, however. A person who has a poor debt to income ratio will lose points, as will a person who spends too much of his or her balances. One may want to obtain a copy of his or her credit score before applying for this product.
Applying for a USAA Cash Rewards World MasterCard
An interested person can apply for the USAA Cash Rewards World MasterCard by clicking on this link. The system will immediately change to a page on which the applicant can choose his or her rewards type. The individual can choose to earn points to make various purchases, or earn straight cash rewards.
The point system works in such a way that the cardholder will earn 2,500 points with the first purchase. That person will also earn one point for every dollar he or she spends on the card. The individual can earn such points endlessly, and they will never expire. To redeem points, the cardholder can visit MemberShop and make purchases, which will also earn that person more points.
The cash rewards pay out at a rate of 1.25 percent on all purchases. In other words, the card company did not assign earning categories, so the cardholder has more opportunities to earn cash. With the cash rewards program, there is also no limit set on the amount the person can earn. The card company releases the cash rewards every January.
At that time, the cardholder can use the rewards for any purpose he or she would like. Additionally, that person can visit MemberShop and earn extra cash rewards by shopping there. The application gives the consumer the choice of earning either way.
After the person selects the earning method, he or she will hit the “next” button, and the page will change to some qualifying questions. The first question the application will ask is whether the applicant is a USAA member. If the person answers yes, he or she will have to enter member information.
If the person enters no, the page will change to more questions about military affiliation. All applicants must have some affiliation with the military, or the application process will end immediately.
Applicants who claim to have military affiliations must have the personal information and address information of the person who links him or her to the military. Applicants who pass the initial screening will move on to the normal process of completing a credit card application.
The card company will want to know income, housing information, personal information and so forth. At the end of the application, the system will conduct a verification of the person’s identity and credit credentials and determine the person’s eligibility for a credit card. If the card company approves the application, it will process it and ship the new card to the customer.
New credit cards generally arrive at a person’s house in five to seven business days.
Features and Benefits of the USAA Cash Rewards World MasterCard
The USAA Cash Rewards World MasterCard comes equipped with a multitude of features and benefits that consumer’s love. The following are some of the best benefits of the card:
No Annual Fee
While some credit card companies charge an annual fee just for membership into the cardholder’s club, USAA does not.
USAA shows its appreciation for its consumer base by not charging any additional annual fee.
The cardholder’s entire balance belongs to him or her during every month of the year.
Cardholders with excellent credit can enjoy an annual percentage rate as low as 9.9 percent. With the average APR for credit cards being around 15 percent, an APR of less than 10 percent is amazing. The card company chooses a cardholder’s APR upon completion of the application. The APR the card company issues will vary depending on the cardholder’s credit ranking.
No Penalty APR
Some credit card companies punish their clients for making mistakes such as missing a payment orgoing over the balance. Such companies will sometimes punish those people by increasing their APRs to one that is way above the normal. USAA does not believe in penalizing the customer for an error. Therefore, the USAA Cash Rewards World MasterCard does not have a penalty APR.
USAA Cash Rewards World MasterCard cardholders can earn 1.25 percent cash back on all purchases made with the card. The company will release the cash rewards every January.
Additionally, there is no limit to the amount of money a consumer can earn with the card. The cardholder is not limited to certain categories for earning cash, nor does the company place a cap on the earning amount. With this card, the sky is really the limit.
By having the USAA Cash Rewards World MasterCard, the cardholder is privy to additional travel and retail benefits. The rental insurance covers damages to a person’s rental vehicle if he or she uses the card to secure the rental. The benefit will cover damages of up to $50,000 in certain situations.
Purchase Assurance Coverage
This special coverage protects the purchases of a USAA Cash Rewards World MasterCard client against damage and theft. The company will pay up to $1,000 per claim if the item qualifies for the coverage. The cardholder must have purchased the item within the last 90 days to qualify for the protection.
Identity Theft Resolution
In such a situation that a USAA Cash Rewards World MasterCard cardholder falls victim to identity theft, he or she call 1-800-MC-ASSIST to activate identity theft resolution services.
The company will provide such services as helping the person complete the proper documentation, notifying the credit bureaus of the crime, getting the old card canceled and the new card replaced, and educating the customer on the subject of identity theft. The feature protects the person whose name appears on the front of the card.
Fees and Finance Charges of the USAA Cash Rewards World MasterCard
Every credit card has some type of fees and finance charges associated with it, but the USAA Cash Rewards World MasterCard has fair options. The annual percentage rate for new cardholders is between 9.9 and 25.9 percent.
The lender bases this figure on the person’s credit score and profile. People on the higher end of excellent credit will most likely receive the lowest rates. Persons with lower credit scores will have higher APRs. The card company decides the APR before it sends out the new card.
USAA does charge late fees for late payments. If the cardholder is late for the very first time in six months, the card company will charge that person $25 for the late fee. The late fee is $35 under any other circumstances.
A returned payment will also prompt a fee. As with the late payment, the return payment will cost a customer $25 if it is the first time in six months. The return payment costs the consumer $35 under any other circumstances.
The company does not charge cardholders for going over their credit limits, which is another benefit that most other card companies do not provide.
Balance transfers and cash advance transactions will cost the cardholder 3 percent or of the amount of the transaction. The card company will never charge a person more than $200 for any such transaction. Additionally, if the cardholder transfers cash advance funds to a USAA account, it will waive its fee for the advance.
The company imposes a 1 percent charge for a foreign transaction in US dollars.
Cancelling the USAA Cash Rewards World MasterCard
A cardholder may close his or her USAA Cash Rewards World MasterCard at any time. That person can simply call the number on the back of the card and request account closure. The consumer should be sure to repay all outstanding balances on the USAA Cash Rewards World MasterCard upon closure. Doing such in a prompt fashion will prevent poor reports to the credit bureaus.
Apply now for a Wealth of Benefits
Anyone who is in the military and loves getting the most out of credit card can apply for USAA Cash Rewards World MasterCard. The USAA card is the best way to go for people in the military who like rewards.
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