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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.
There are no rewards for using this card, like points or cash back, but it does come with several benefits.
Check your card’s Guide to Benefits to learn the specific benefits your card offers and how to access them.
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.
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.
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).
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 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.
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||8.90%–25.90% Variable||8.90%–25.90% Variable||8.90%–25.90% Variable|
|Balance Transfer Fee||Cash Advance Fee||Foreign Transaction Fee|
|3%, $200 maximum||3%, $200 maximum||0%|
|Penalty APR||Late Fee||Returned Payment Fee|
|None||Up to $35||Up to $35|
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.
Do you use the USAA Rate Advantage Platinum Visa? How do you like it? Let us know by giving your own review.
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