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Who is USAA Secured Card Platinum Visa Designed For?

The USAA Secured Platinum Visa is designed for people with poor or bad credit who want the convenience of a credit card and to repair their credit. This is a secured card, which means the size of the line of credit is based on how much you put down as a security deposit. In the case of the USAA Secured Platinum Visa, the security deposit is an interesting-earning CD. The CD has a two-year term and a 0.54% APY, which will vary throughout the two-year term. The minimum security deposit is $250, and the maximum is $5,000.

USAA is a members-only financial services company that is open to U.S. military service members, veterans with an honorable discharge and their family members.

What are the Rates for USAA Secured Card Platinum Visa?

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 Secured Card Platinum Visa?

USAA Secured Platinum Visa has a $35 annual fee and a 3% fee on balance transfers and cash advances (maximum of $200). However, the cash advance fee is waived when used to transfer funds electronically to a USAA deposit account. There are no foreign transaction fees. There is a $35 fee on late and returned payments, which is reduced to $25 for the first returned or late payment within six billing periods.

What Is USAA Secured Card Platinum Visa's Rewards Program Like?

The USAA Secured Platinum Visa doesn't have a rewards program. If payments are made on time, and the credit limit is not exceeded, this card can help build your credit so you can qualify for credit cards with a rewards program.

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

The USAA Secured Card Platinum Visa does not offer a signup bonus.

Does USAA Secured Card Platinum Visa Have Any Other Benefits?

The USAA Secured Card Platinum Visa comes with retail and travel benefits such as identity theft resolution services, extended warranty and collision damage waiver coverage. Another benefit is that your security deposit is placed in an interest-earning CD, which is more than most secured credit cards offer.

How Is USAA Secured Card Platinum Visa Better Than Other Credit Cards?

USAA Secured Card Platinum Visa has extremely flexible eligibility requirements, which makes it a useful tool for service members who want to repair their credit. The security deposit has a low minimum of $250 but allows cardholders to get a credit line of up to $5,000. The annual fee is reasonable and the rates are competitive. Although this card doesn't have a signup bonus or a rewards program, it's a real credit card that can, over time, help people to improve their credit and qualify for other credit cards with better reward programs.

  • Card Type
    Secured
  • Customer Type
    Personal
  • Card Network
    Visa
  • Credit Score Range
    300 - 700
  • 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
  • Annual Fee
    $35
  • Grace Period / Deferred Interest
    25
  • Late Payment Penalty
    $35
  • Returned Payment Fee
    $35
  • No Foreign Transaction Fee
  • Car Rental Insurance
  • Extended Warranty
  • Flight Insurance
  • Fraud Liability
  • Travel Insurance
  • Balance Computation
    Average daily balance (including new purchases)
  • Credit Limit
    5000
  • Purchases APR
    10.9% - 20.9%
  • Transfer Fee
    3%
  • Balance Transfer APR
    10.9% - 20.9%

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