Last updated on February 24th, 2023
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USAA® Cashback Rewards Plus American Express® Card
USAA® Cashback Rewards Plus American Express® Card
- 16.9% to 30.9% variable based on creditworthiness and the Prime Rate Regular Purchase APR
- 16.9% to 30.9% variable based on creditworthiness and the Prime Rate Balance Transfer APR
- 16.9% to 30.9% variable based on creditworthiness and the Prime Rate Cash Advance APR
At a Glance
The USAA® Cashback Rewards Plus American Express® Card helps cardholders who spend regularly on gas and groceries earn cash back, and offers special features for military members. They can also enjoy no foreign transaction fees, no annual fee, and no penalty APR.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- No annual fee
- Get free collision damage waiver coverage to pay for physical damage and theft to most vehicle rentals
- Extend your manufacturers warranty at no extra cost
- Earn 5% cash back on your first $3,000 in combined gas station and military base Purchases yearly
- Earn 2% cash back on your first $3,000 in grocery Purchases yearly
- Earn 1% on all your other card purchases
- Regular Purchase APR: 16.9% to 30.9% variable based on creditworthiness and the Prime Rate
- Intro Balance Transfer APR: 0% Introductory APR through your 02/01/2024 billing cycle
- Balance Transfer APR: 16.9% to 30.9% variable based on creditworthiness and the Prime Rate
- Balance Transfer Transaction Fee: 3% of the amount of each transfer
- Cash Advance APR: 16.9% to 30.9% variable based on creditworthiness and the Prime Rate
- Cash Advance Transaction Fee: 3% of the amount of each cash advance. Fee waived when transferring funds electronically to a USAA deposit account
- Late Payment Penalty Fee: Up to $35
- Return Payment Penalty Fee: Up to $35
- You're in the U.S. military or are related to someone in the U.S. military
- You want cash back on regular purchases such as gas and groceries
- You want no annual fee
- You want no foreign transaction fees
USAA® Cashback Rewards Plus American Express® Card Review
The USAA® Cashback Rewards Plus American Express® Card is an excellent cash back rewards credit card for military personnel or their families. The card, from USAA, offers quality savings at gas stations, plus on military bases worldwide.
How to Earn Rewards
The Cashback Rewards Plus Amex Card offers 5% cash back at gas stations, making it one of the better gas stations rewards cards on the market. Few other gas cards even compare to the 5% back with the USAA Card, with only the PenFed Platinum Rewards VISA Signature® Card instantly springing to mind.
Cardholders also earn 5% cash back on military bases worldwide, making the card the perfect companion for military families – no matter where they are stationed. Unfortunately, the gas station and military base spending bonus only applies to the first $3,000 per year.
The USAA® Cashback Rewards Plus American Express® Card also offers 2% cash back on the first $3,000 in spending on groceries, plus 1% back on all other purchases. As with other USAA credit cards, cardholders can redeem their rewards for cash back, gift cards, merchandise, or travel. Cash back never expires, and there is no limit to the number of rewards earnable.
Special Financing for Active Deployment
Members of the military on deployment/PCS get 4% APR on all balances for up to 12 months with the USAA® Cashback Rewards Plus American Express® Card. If they have a balance on their account when entering active military duty, they’ll get 4% APR on that balance until a year after they complete active duty.
This special financing is an excellent addition to the Cashback Rewards Amex. While not exclusive to this card (it’s a feature of all USAA offerings), it adds a sense of security that military personnel and their families need in times of stress and deployment.
Highly Competitive APR
USAA credit cards always feature competitive APR for those with excellent credit – and the USAA® Cashback Rewards Plus American Express® Card is no different. Those with exceptional credit can anticipate interest rates well below the current national averages for rewards cards. In fact, the APR for the very best credit scores is almost 5% below the norm – not bad at all!
Other Card Features
Like other USAA cards, the Cashback Plus features no annual fee, no foreign transaction fees, and no penalty APR. Other Card Features of note include
- Identity theft resolution services
- Auto rental coverage
- Travel accident insurance
- Trip cancellation and trip interruption insurance
- Baggage delay reimbursement
- Extended warranty on U.S. manufacturer’s warranties
Should You Apply for the USAA® Cashback Rewards Plus American Express® Card?
Overall, the USAA® Cashback Rewards Plus American Express® Card is a robust cash reward credit card for the military family. The 5% back on gas station and military base purchases is enticing – as is the 2% back on groceries. While these benefits only apply to the first $3,000 in the 5% and 2$ categories, respectively, they are still an excellent benefit.
The low APR, plus special financing on active deployment personnel, is also enticing. Finally, no annual fees, no foreign transaction fees, and no penalty APR complete the picture of a competent rewards card that offers excellent value every day.
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