Who is USAA Secured Cards® American Express® Designed For?

The USAA Secured Card American Express® is for people who either don't qualify for a regular credit card or don't want one. As with all secured cards, the size of the line of credit is dependent on how much is placed as a security deposit. USAA puts the security deposit, which can range from $250 to $5,000 in an interest-yielding (0.54% APY) two-year CD.

USAA is a Fortune 500 company that provides insurance, banking, and investment management to U.S. military service members, veterans with an honorable discharge and their family members.

What are the Rates for the USAA Secured Card American Express®?

There is no introductory rate so, from the beginning, the rate for purchases, balance transfers, and cash advances can be 10.90% APR to 20.90% APR, depending on creditworthiness, and this rate will vary with the market based on the prime rate. There is no penalty APR.  

What Are the Fees for USAA's Secured Card American Express®?

USAA Secured Card American Express® charges a $35 annual fee plus a 3% fee on balance transfers and cash advances. The maximum fee for any one transaction is $200. The fee is waived on cash advances when they are transferred to a USAA deposit account. Foreign transactions have a 0% fee, and there is a $35 fee on late and returned payments. The first late or returned payment for every six billing periods has a reduced fee of $25.

What Is Secured Card American Express®'s Rewards Program Like?

The USAA Secured Card American Express® does not come with a rewards program. However, cardholders who use it responsibly can build their credit and qualify for credit cards that do include a rewards program.

What about USAA Secured Card Platinum Mastercard's Signup Bonus?

The Secured Card American Express® does not have a signup bonus at this time.

Does USAA Secured Card Platinum Mastercard Have Any Other Benefits?

Apart from the 0.54% APY on the security deposit, the card 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 USAA Secured Card Platinum Mastercard Better Than Other Credit Cards?

The USAA Secured Card American Express® is a great tool to build your credit. It doesn't provide any perks or benefits worth mentioning but at least your security deposit is invested in a CD and you can buy yourself a $5,000 credit limit. This card's main attraction is that it has extremely flexible eligibility requirements, so most people eligible to be a USAA member will qualify, as long as they have the cash to put down a security deposit.

  • Card Type
  • Customer Type
  • Card Network
    American Express
  • Credit Score Range
    350 - 700
  • Immigration Status Considered
    • U.S. Citizen
    • U.S. Permanent Resident
  • Military Status
    • Active Duty Military
    • Military Dependent
    • Veterans
  • Minimum Age
  • Supported Income Types
    • 1099 Misc. Income
    • Cash / Other
    • Direct Deposit (W2, SSA, SSDI)
    • Payroll Check or Prepaid Card
  • Annual Fee
  • Grace Period / Deferred Interest
  • Late Payment Penalty
  • Returned Payment Fee
  • No Foreign Transaction Fee
  • Car Rental Insurance
  • Extended Warranty
  • Flight Insurance
  • Fraud Liability
  • Lost Luggage Insurance
  • Travel Insurance
  • Balance Computation
    Average daily balance (including new purchases)
  • Credit Limit
  • Purchases APR
    10.9% - 20.9%
  • Transfer Fee
  • Balance Transfer APR
    10.9% - 20.9%

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