Features

Who is Cashback Rewards Plus American Express® Designed For?

Issued by USAA Savings Bank, the Cashback Rewards Plus American Express® is designed for people who are affiliated with the military and are looking for a cash back rewards card with a high rate on everyday purchases and no annual fee. To qualify, members must either be an active (or retired) member of the U.S. military or be related to military members.

What are the Rates for Cashback Rewards Plus American Express®?

The Cashback Rewards Plus American Express® card charges the same rate for purchases, balance transfers, and cash advances. The rates are 12.90% APR to 26.90% APR, depending on creditworthiness, and the rates vary with the market based on the prime rate. There is no introductory rate but all service members receive a 4% APR on all balances for up to 12 months during deployment.

What Are the Fees for Cashback Rewards Plus American Express®?

Cashback Rewards Plus American Express® does not charge an annual fee. The card does have a balance transfer and cash advance fee of 3% but this is capped at a maximum fee of $200 per transaction. The card has no foreign transaction fee. Late payments and returned payments have a $35 fee.

What Is the Cashback Rewards Plus American Express® Card's Rewards Program Like?

Cashback Rewards Plus American Express® has three rewards rates. First, the card gives 5% cash back on the first $3,000 spent on gasoline and military base purchases. Once the $3,000 annual threshold is reached, all other gasoline and military base purchases earn one point for every $1. The card has a 2% rebate on regular supermarket purchases up to $3,000 annually, after which the rate drops to 1%. All other purchases earn a 1% cash back.

What about the Cashback Rewards Plus American Express® Card's Signup Bonus?

There is no signup bonus.

Does Cashback Rewards Plus American Express® Have Any Other Benefits?

Cashback Rewards Plus American Express® comes with the standard American Express® travel, security and retail benefits, such as concierge services, identity theft services, travel accident insurance, extended warranty on purchases and car rental insurance.

The card also provides special benefits to the military, such as a rebate of all finance charges while a member is serving in a qualified military campaign and provides practical assistance during and after the deployment.

How Is Cashback Rewards Plus American Express® Better Than Other Credit Cards?

Cashback Rewards Plus American Express® offers both a $0 annual fee card and a high rate of cash back rewards, not a common combination. The card is restricted to people related to the military, but the requirements are open enough to allow many people to qualify through relatives. The APRs are low, the benefits are significant and the fees charged are competitive.

  • Credit Score Range
    700 - 850
  • Immigration Status Considered
    • U.S. Citizen
    • U.S. Permanent Resident
  • Military Status
    • Active Duty Military
    • Military Dependent
    • Veterans
  • Minimum Age
    18
  • Supported Income Types
    • 1099 Misc. Income
    • Cash / Other
    • Direct Deposit (W2, SSA, SSDI)
    • Payroll Check or Prepaid Card
  • 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%
  • Card Type
    • Cash Back
    • Rewards
  • Card Network
    American Express
  • Customer Type
    Personal
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