USAA Cashback Rewards Plus American Express®

USAA Cashback Rewards Plus American Express® Review

This is a cashback credit card issued by USAA. If you're wondering whether USAA Cashback Rewards Plus American Express® is the right card for you, read on.

Key Takeaways

• Generous reward rate. You can get a maximum cashback rewards rate of up to 5x.
• 0% APR balance transfer intro rate. Offers an introductory 0% APR rate on balance transfers.
• Competitive APRs. USAA Cashback Rewards Plus American Express® has a variable purchase APR that ranges from 13.40% up to 27.40%.
• No annual fee*. This is a great option for people looking for a low-maintenance cashback card. It gives you cashback on your eligible purchases, but you don't have to pay an annual fee for the privilege.
• 3% Balance transfer fee. USAA Cashback Rewards Plus American Express® charges a fee of 3% on balance transfers. For example, a balance of $1,000 could cost $30 in transfer fees.
• No foreign transaction fee. This card does not charge a fee when you make a purchase that passes through a foreign bank, or is in a currency other than the U.S. dollar (USD), which makes it a great credit card to carry when traveling abroad.
• Gas rewards. 5% cashback on eligible gas purchases.
• Multiple credit card benefits. Includes generous credit card perks, such as rental insurance, emergency support, extended warranty protection on purchases, identity theft protection, price protection, travel accident insurance, travel assistance, trip cancellation insurance, and fraud protection.
• Fair or better credit required. You will have good approval odds if your credit score is above 650.

Pros & Cons of USAA Cashback Rewards Plus American Express®

The Good

The Bad

Potentially lower than average purchase APRs. 0% APR balance transfer intro rate on balance transfers . No annual fee. Multiple credit card perks. Offers auto rental collision damage waiver. Extended warranty and price protection on purchases. Free access to your credit score. Identity Theft Protection. Travel accident and travel assistance insurance. Trip cancellation insurance. No foreign transaction fee. USAA Cashback Rewards Plus American Express® reports to multiple credit bureaus.

Does not offer a signup bonus. Charges a 3% balance transfer fee.

USAA Cashback Rewards Plus American Express® FAQ

Does USAA Cashback Rewards Plus American Express® have a cash back or rewards program?

No, it does not offer a rewards program. This is a cashback card. This means you earn a percentage of your purchases as cash back rewards. You will receive 1% cash back on travel, dining, groceries, drugstore purchases, or any other purchase. For example, if you buy a $1,000 laptop, you will receive $10 back in cash. However, you can earn up to 5% for purchases in a bonus category.

What are the USAA Cashback Rewards Plus American Express® benefits?

It provides the following benefits:

• Free Credit Score
• Auto Rental Collision Damage Waiver
• Emergency Support
• Extended Warranty Protection
• Trip Cancellation Insurance
• Zero fraud liability
• Price Protection
• Travel Accident Insurance
• Travel Assistance
• Reports to major credit bureaus

What are the relevant APRs for USAA Cashback Rewards Plus American Express®?

According to the Federal Reserve Board, the average regular APR is 15% for all credit cards and 17% for accounts that carry a balance. This card has lower than average regular APRs.

USAA Cashback Rewards Plus American Express® has a variable purchase APR that ranges from 13.40% up to 27.40%. The card has a variable balance transfer APR that ranges from 13.40% up to 27.40%. It also has a variable cash advance APR that ranges from 13.40% up to 27.40%.

The good news is this card does not charge a penalty APR if you are late on a payment.

What are the fees for USAA Cashback Rewards Plus American Express®?

The following fees apply:

• There is no overlimit fee

USAA Cashback Rewards Plus American Express® Fees

Fees	Amount
Annual Fee	$0
Overlimit Fee	$0
Foreign Transaction Fee	0%
Returned Payment Fee	$35
Late Payment Fee	$35

This card does not charge an annual fee, which makes it a smart choice for consumers looking for a low-cost cashback card.

Does USAA Cashback Rewards Plus American Express® report your account activity to credit bureaus?

Yes, USAA Cashback Rewards Plus American Express® reports your account activity to the following credit reporting agencies:

• Equifax
• Experian
• Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

How to apply for USAA Cashback Rewards Plus American Express®

• Visit the USAA Cashback Rewards Plus American Express® website.
• Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, and annual income.
• Check the information is accurate and submit your application.

If your credit score is preventing you from qualifying for this credit card, check out our guide for the best credit cards for bad credit.