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 to 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. APRs vary based on members' creditworthiness. 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. It does charge a balance transfer and cash advance fee of 3% but this is capped at a maximum fee of $200. 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, it 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. It 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 travel benefits, such as concierge services, identity theft services, travel accident insurance, extended warranty on purchases and car rental insurance.

It also gives 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 it charges are competitive.

  • Card Type
    • Cash Back
    • Rewards
  • Customer Type
    Personal
  • Card Network
    American Express
  • Credit Score Range
    700 - 850
  • Minimum Age
    18
  • 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
  • Lost Luggage Insurance
  • Travel Insurance
  • Cashback
  • Transfer Fee
    3%

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0 votes

No introductory rate for this one except for the fact that service members get 4% rate for the first year, which I took advantage of, since my wife is serving. I transferred a big balance from another card and was able to get it paid off in a good amount of time.


0 votes

Great card, providing you stay away from being late and know that there are foreign transaction fees. The latter is important to note, because if you're like me, you end up overseas a lot when you're in the service. At least it is 1%, though, because my last card was the standard 3% foreign transaction fee and that was just way to much on my salary.


0 votes

Before I married into the military, I didn't really use credit cards and didn't think that people who used them for everyday expenses or even big purchases were all that bright. Well, once I tried to live on a military salary as a young family, I found that pulling out plastic is sometimes the only way to get things paid. So that means that having a low interest rate is important. The introductory 4% rate for active military is really helping us get by.


0 votes

In love with this card!! I am active military, so I got the first introductory rate of 4% for a year. Totally awesome, as it saved me a bundle considering the card I had before I switched to this one was a crummy 20% interest rate. There is a transfer fee, but it's only 3% and maxes at $200. I also love that there is no annual fee. And perhaps best of all is the APR that I got once the year was over--their lowest, which is 9.90%. I don't ... think I've ever had such a low interest rate. Only at USAA!! More Less


0 votes

I'm an enormous USAA fan. They have all of my insurance business, as well as my banking business and now my credit card, which I absolutely adore. Getting lots of cash back is so fun for me. What I use the cash back for is gifts for my kids and husband. It saves my budget and allows me to get them some really nice gifts.


0 votes

Amazing card for someone who wants to travel. There are a lot of perks, such as travel accident insurance and collision damage waiver coverage. And then the cash back of 2.25% on gas really ties it all together. We did a driving tour of upper New York after flying there from the west coast and rented a car and used all of these perks. We came back with a good amount of cash back for all of that gas we used!


0 votes

I was hoping I was going to love his card, as my best friend who told me about it does, but I have to say that I am a little disappointed. For one thing, I'm really upset about the fact that my interest rate for the card is really high. I thought that since I'd had another USAA card and always paid on time that I'd get better than 23.9%, but that's the crummy interest rate I got. :(


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