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Who is USAA Secured Card 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 as of January 2017) 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, purchases, balance transfers, and cash advances APRs 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, there are no additional benefits to having a USAA Secured Card American Express.

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
    Secured
  • Customer Type
    Personal
  • Card Network
    American Express
  • Credit Score Range
    350 - 700
  • Minimum Age
    18
  • Annual Fee
    $35
  • Grace Period / Deferred Interest
    25
  • Late Payment Penalty
    $35
  • Returned Payment Fee
    $35
  • No Foreign Transaction Fee
  • Car Rental Insurance
  • Emergency Support
  • Extended Warranty
  • Fraud Liability
  • Lost Luggage Insurance
  • Transfer Fee
    3%

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