Review of the USAA Rate Advantage Platinum Visa®

Brendan Harkness

Brendan Harkness | Reviews

Feb 15, 2016 | Updated Sep 14, 2016

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The USAA Rate Advantage Platinum Visa can potentially provide a very low interest rate, if your credit is good enough.

USAA 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.

This is a fairly simple card, with no rewards like points or cash back. The real value of this card is the low interest rate you might get, possibly as low as 7.45% (Variable).

If you’re looking for a basic credit card with good terms, read on to learn if this one might be for you.

USAA Rate Advantage Platinum Visa®
Apply Now

USAA Rate Advantage Platinum Visa®

For People with
Excellent Credit

  • Annual Fee: $0
  • Interest Rate: 7.15%-24.15% (Variable)
Quick Card Facts
  • USAA Eligibility Requirement: Today, USAA membership is only open to U.S. military service members, veterans who have received a discharge type of Honorable, and their eligible family members.
  • No annual fee: And avoid fine-print fees - no over-the-limit fees or penalty rates, so you keep more money in your pocket.
  • Variable rates starting at 7.15% on purchases, balance transfers and cash advances. It's the same low rate for all transactions.
  • Free Travel and Retail Benefits: Get benefits like Rental Car Collision Damage Coverage and Extended Warranty coverage on your purchases.
  • Making your busy life simpler: Our online and mobile tools help you manage your account anytime, anywhere.
  • Chip technology has added security when used at a chip-enabled terminal and greater acceptance worldwide.

The Rewards

There are no rewards for using this card, like points or cash back, but it does come with several benefits.

The Benefits

Check your card’s Guide to Benefits to learn the specific benefits your card offers and how to access them.

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.

  • Deployment Discount

    Members of the military who are deployed or deploying can have the interest rate on their USAA card reduced to 4% for current balances, new purchases, and cash advances.

  • Permanent Change of Station (PCS)

    Active-duty members with permanent change of station can have the interest rate on their USAA card reduced to 4% for current balances, new purchases, and cash advances.

  • 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

  • Price Protection

    If you find an item you bought being advertised for a lower price within 120 days of the purchase, you could be reimbursed for the price difference (up to $250 per claim, up to 4 claims per year).

  • Extended Warranty

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

  • Satisfaction Guarantee Coverage

    If you’re not satisfied with an eligible purchase and the retailer won’t take it back, you may be able to be reimbursed for the cost.

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 and Baggage Delay 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

Check the Military Benefits section above for more information on how your interest rates may be adjusted while you’re on duty.

Take not that there’s no Penalty APR to worry about, so your interest rate won’t go up if you make a late or returned payment.

Annual Fee Regular Purchase APR Regular Balance Transfer APR Cash Advance APR
$0 7.15%-24.15% (Variable) See Terms See Terms
Balance Transfer Fee Cash Advance Fee Foreign Transaction Fee
See Terms See Terms See Terms
Penalty APR Late Fee Returned Payment Fee
See Terms See Terms See Terms

The Bottom Line

The USAA Rate Advantage Platinum Visa is a card to consider if you or your family is in the military, but only if you have good credit or plan to use it during a military deployment. If that’s the case, you’ll enjoy a very low interest rate.

If your credit is poor, however, you’ll end up with a very basic card with a higher APR that offers no rewards for spending.

If you’re looking for USAA cards that offer some nice rewards, check out our review of the USAA Cashback Rewards credit cards.

Want to apply for this card or learn more? Just click the card name below.

USAA Rate Advantage Platinum Visa®
Apply Now

USAA Rate Advantage Platinum Visa®

For People with
Excellent Credit

  • Annual Fee: $0
  • Interest Rate: 7.15%-24.15% (Variable)
Quick Card Facts
  • USAA Eligibility Requirement: Today, USAA membership is only open to U.S. military service members, veterans who have received a discharge type of Honorable, and their eligible family members.
  • No annual fee: And avoid fine-print fees - no over-the-limit fees or penalty rates, so you keep more money in your pocket.
  • Variable rates starting at 7.15% on purchases, balance transfers and cash advances. It's the same low rate for all transactions.
  • Free Travel and Retail Benefits: Get benefits like Rental Car Collision Damage Coverage and Extended Warranty coverage on your purchases.
  • Making your busy life simpler: Our online and mobile tools help you manage your account anytime, anywhere.
  • Chip technology has added security when used at a chip-enabled terminal and greater acceptance worldwide.
Not the card for you? Learn more about Reward Credit Cards and see our picks for the best ones!

Do you use the USAA Rate Advantage Platinum Visa? How do you like it? Let us know by giving your own review.

Was this helpful?
  • K R

    My Dad is a Vet from the Vietnam War, and I just signed signed up with USAA this year. From their commercials, I thought they only offered insurance, but I know know they have bank accounts and credit cards. I applied for this card and got approved with a 7.9% rate.

    • Brendan Harkness

      Good to hear, K R. I wish I had a rate like that on any of my cards!

  • cnoyes72

    I just was approved for this card. A really easy application process (of course USAA already has my financial info from an auto loan with them and a savings account). Took about a minute to get approved with a 12.9% rate.

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