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Review

Review of the USAA Cashback Rewards Plus American Express® Card and the Preferred Cash Rewards Visa Signature®

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Our rating
Credit range: Excellent
Annual Fee: $0
Regular APR: 13.90%–27.90% Variable
Our rating
Credit range: Good
Annual Fee: $0
Regular APR: 13.90%–27.90% Variable

This is a review of the two top-level cash back cards from USAA: the USAA Cashback Rewards Plus American Express® and the USAA Preferred Cash Rewards Visa Signature®.

These cards are only available to members of the military, active or honorably discharged, as well as certain members of their family. Click here for details on USAA eligibility.

USAA provides many different types of credit cards, and these two are some of the most rewarding. These cards are very similar in most of their terms and benefits (which include special military benefits), but they differ in how they provide cash back.

Read on to learn what they offer and how they can help you save money.

USAA Cashback Rewards Plus American Express® Card

USAA Cashback Rewards Plus American Express® Card

Our rating
Credit rangeExcellent
Details
Annual Fee$0
Regular APR13.90%–27.90% Variable
Apply Now

securely on the issuer's website

USAA Preferred Cash Rewards Visa Signature®

USAA Preferred Cash Rewards Visa Signature®

Our rating
Credit rangeGood
Details
Annual Fee$0
Regular APR13.90%–27.90% Variable
Apply Now

securely on the issuer's website

The Rewards

Cashback Rewards Plus American Express

This card provides:

  • 5% cash back on gasoline and military base purchases, which include commissaries, exchanges, and shops on base (for the first $3,000 in purchases every year; then 1% cash back)
  • 2% cash back on groceries (for the first $3,000 in purchases every year; then 1% cash back)
  • 1% cash back on all other purchases

Preferred Cash Rewards Visa Signature

A little bit different, this card provides:

  • 1.5% cash back on every purchase you make

The Verdict

As you can see, these cards are going to reward you in very different ways.

If you’re going to be spending a lot on gas and on the base, the Amex card is your obvious choice. If you’re not sure what you’ll be buying, or if you already have a credit card for gas, the Visa might be for you because 1.5% cash back on general purchases is almost as good as it gets.

In many cases, the Amex card will probably be more suitable for active members of the military, while the Visa will probably be better for family members.

The Benefits

These cards share the same fairly comprehensive set of benefits. For the most part they are the exact same, but some of the benefits will be serviced by American Express for its card, and Visa for the other. Check your Guide to Benefits to learn the specific details for your card.

Perks

  • Concierge Service

    Call to get personal help with all sorts of tasks, like travel planning, making restaurant reservations, finding hard-to-find items, and finding convenient services nearby, wherever you may happen to be.

Military Benefits

You may or may not qualify for some of these benefits; click here to learn more and see if you qualify.

  • Servicemembers Civil Relief Act (SCRA)

    The SCRA provides help to active-duty service members, and includes benefits like protection for life insurance policies and reduced interest rates on debts incurred before beginning active duty. USAA will provide an interest rate of 4% for pre-existing USAA credit card debt and loans, and a rate of 6% for other debts like credit cards, mortgages, auto loans, and others.

  • Qualifying Campaign Level

    Members who receive a qualifying campaign medal can receive a rebate for all of the interest incurred during their campaign. The qualifying campaign medals include the Global War on Terrorism Expeditionary Medal, the Iraq Campaign Medal, and the Afghanistan Campaign Medal.

Shopping Protections

  • Extended Warranty

    Doubles the manufacturer’s original warranty, up to a maximum of 2 years for most items, up to $15,000.

Travel Protections

  • Travel Assistance Services

    Available when traveling 100 miles or more from home, provides help like information on travel requirements, locating documents or lost items, or arranging emergency money transfers.

  • Worldwide Automatic Travel Accident, Baggage Delay and Trip Cancellation/Interruption Insurance

    Provides insurance in case of a tragic accident, funds to reimburse purchases if your bags are delayed, and reimbursement if your trip is interrupted for eligible reasons.

  • Rental Car Insurance

    Provides coverage against damage and theft of rental vehicles, as long as the rental company’s own insurance is declined.

Security Benefits

  • Identity Theft Resolution Services

    If you become a victim of identity theft, this service provides help with contacting the credit bureaus, getting a new credit card, and going through the proper legal proceedings.

  • Identity Fraud Expense Reimbursement

    You won’t be held liable for unauthorized charges as a result of identity fraud.

The Costs & Fees

Card Annual Fee Regular APR Regular Balance Transfer APR Cash Advance APR
Cashback Rewards Plus Amex $0 13.90%–27.90% Variable 13.90%–27.90% Variable 13.90%–27.90% Variable
Preferred Cash Rewards Visa Signature $0 13.90%–27.90% Variable 13.90%–27.90% Variable 13.90%–27.90% Variable
Card Balance Transfer Fee Cash Advance Fee Foreign Transaction Fee
Cashback Rewards Plus Amex 3% 3% None
Preferred Cash Rewards Visa Signature 3% 3% None
Card Penalty APR Late Fee Returned Payment Fee
Cashback Rewards Plus Amex None Up to $35 Up to $35
Preferred Cash Rewards Visa Signature None Up to $35 Up to $35

The Bottom Line

If you’re eligible, the USAA Cashback Rewards Plus American Express and the USAA Preferred Cash Rewards Visa Signature can provide much better interest rates than you’ll be able to find elsewhere.

So, if you like the cash back deals then one of these cards might be the right one for you, especially if you’re an active member of the military. The 4% interest rate is far lower than anything you could expect to get from a regular credit card, and the fact that USAA will lower your other debts to a 6% rate could save you a whole lot of money.

Just be sure to fully understand the benefits that come with this card so you get the most out of it. You may need to manually enroll or activate some benefits, so don’t assume that they will happen automatically.

Want to apply for or learn more about one of these cards? Just click the card’s name below.

USAA Cashback Rewards Plus American Express® Card

USAA Cashback Rewards Plus American Express® Card

Our rating
Credit rangeExcellent
Details
Annual Fee$0
Regular APR13.90%–27.90% Variable
Apply Now

securely on the issuer's website

USAA Preferred Cash Rewards Visa Signature®

USAA Preferred Cash Rewards Visa Signature®

Our rating
Credit rangeGood
Details
Annual Fee$0
Regular APR13.90%–27.90% Variable
Apply Now

securely on the issuer's website

There are also USAA cards that offer fewer rewards but will probably be easier to get. Check out our review: The USAA Rewards Credit Cards

Looking for other non-military reward credit cards? Click here to check out our picks for the Best Reward Credit Cards.

How do you like your USAA Cash Rewards credit card? Does it ease your financial burden while on duty? Tell us about the American Express card or the Visa Signature card, we’d love to hear from you!

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