Features

Who is Preferred Cash Rewards Visa Signature® Designed For?

The Preferred Cash Rewards Visa Signature® credit card from USAA is designed for people affiliated with the military with fair to excellent credit who want a credit card with no annual fee and a cash back rewards program. The Preferred Cash Rewards Visa Signature® has a higher APR than the Rewards Visa Signature® card, but the Preferred card also provides a higher cash back rate: 1.5%.

Only active, retired military personnel, and their family can join USAA.

What are the Rates for Preferred Cash Rewards Visa Signature®?

The Preferred Cash Rewards Visa Signature® card charges the same rate for purchases, balance transfers, and cash advances. The rate is 12.90% APR to 26.90% APR, depending on creditworthiness, and the rate will vary with the market based on the prime rate. There is no intro rate on purchases or balance transfers. On the other hand, there is no penalty rate for cardholders who are late on payments either.

What Are the Fees for Preferred Cash Rewards Visa Signature®?

Preferred Cash Rewards Visa Signature® has no annual fee and no over-the-limit fee. On the other hand, the card does have a 3% fee on balance transfers and cash advances, which is capped at $200 per transaction. The cash advance fee is waived when the funds are transferred electronically to a USAA deposit account. There is no fee on foreign transactions.

What Is Preferred Cash Rewards Visa Signature®'s Rewards Program Like?

Preferred Cash Rewards Visa Signature® gives cardholders up to 1.5% in cash rewards on purchases. There is no cap or expiration date on cash back, which can be redeemed automatically to cardholders' account.

What about Preferred Cash Rewards Visa Signature®'s Signup Bonus?

Preferred Cash Rewards Visa Signature® does not have a signup bonus.

Does Preferred Cash Rewards Visa Signature® Have Any Other Benefits?

The Preferred Cash Rewards Visa Signature® from USAA provides cardholders with travel, security, and retail benefits including collision damage waiver coverage, concierge services, identity theft protection and extended warranty (up to one year).

Service members can receive special rates including a reduced rate of 4% APR for up to a year during deployments on all balances. After 12 months the rate will return to the regular APR, which varies based on the prime rate. Service members can also receive a 100% rebate of finance charges accrued during a qualified military campaign.

How Is Preferred Cash Rewards Visa Signature® Better Than Other Credit Cards?

The Preferred Visa has relatively low rates, a straightforward cash back of 1.5%, and no annual fee. The card also provides valuable travel, security and retails benefits as well as special benefits given to military members.

 

  • Card Type
    • Cash Back
    • Rewards
  • Customer Type
    Personal
  • Card Network
    Visa
  • Credit Score Range
    640 - 850
  • Immigration Status Considered
  • Military Status
  • Minimum Age
    18
  • Supported Income Types
  • Grace Period / Deferred Interest
    25
  • Late Payment Penalty
    $35
  • Returned Payment Fee
    $35
  • No Annual Fee
  • No Foreign Transaction Fee
  • Car Rental Insurance
  • Extended Warranty
  • Flight Insurance
  • Fraud Liability
  • Travel Insurance
  • Cashback
  • Balance Computation
    Average daily balance (including new purchases)
  • Purchases APR
    12.9% - 26.9%
  • Transfer Fee
    3%
  • Balance Transfer APR
    12.9% - 26.9%

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