| Last updated on November 24th, 2023
USAA Secured Visa® Platinum Credit Card
USAA Secured Visa® Platinum Credit Card
- 27.9% variable based on the Prime Rate Regular Purchase APR
- 27.9% variable based on the Prime Rate Balance Transfer APR
- 27.9% variable based on the Prime Rate Cash Advance APR
At a Glance
The USAA Secured Visa Platinum can help you establish a positive credit history with regular payments and responsible use. There are no foreign transactions or annual fees for members.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- No annual fee
- No foreign transaction fees
- Build credit with on time payments and responsible use
- Visa Platinum protections, including Zero Fraud Liability
- Regular Purchase APR: 27.9% variable based on the Prime Rate
- Balance Transfer APR: 27.9% variable based on the Prime Rate
- Balance Transfer Transaction Fee: 3% of the amount of each Balance Transfer.
- Cash Advance APR: 27.9% variable based on 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
- Minimum Deposit Required: $250
- You qualify for USAA membership
- Your credit history is damaged or non-existent
- You do't want to pay an annual fee
USAA Secured Visa® Platinum Credit Card Review
The USAA Secured Visa® Platinum credit card provides the right mix of credit-building tools and no hidden fees to boost your credit. The card is exactly the same card as the USAA Secured American Express® Credit Card – with the only difference being the payment network of the card (Visa vs. American Express).
Pre-Qualify Before You Apply
USAA allows members to pre-qualify before applying. Pre-qualifying for a credit card before applying can save you the headache of a negative credit impact – or “hard inquiry” – even if your application is rejected.
Related Article: How to Pre-Qualify for a Credit Card
Build Credit with No Annual Fee
The feature of USAA’s secured credit cards is the annual fee – namely, no annual fee. Most secured credit cards feature a yearly charge of between $25 and $99. Getting access to a full-fledged Visa credit card and using it to build credit without an annual fee is a great feature not found in many secured cards.
Set Your Credit Limits
Like other secured cards, you’ll need a deposit to open a USAA-secured account. That deposit ranges from $250 at the lower end to $5,000 maximum. That range is very healthy and on par with what you’ll find elsewhere. Generally, secured cards have a minimum deposit of at least $200, so this requirement is standard.
Secured Card Comparison
Here’s how the USAA secured credit cards stack up with the OpenSky credit cards from Capital Bank:
USAA secured credit card
Building Credit Doesn’t Have to Be Hard Work
The USAA secured card is a Visa Platinum credit card. Even better, with no fees on foreign transactions, you can use your card worldwide with no surcharges – another way USAA rewards its members. And, even better, the card enjoys the same no foreign transaction fees benefit of other USAA credit cards.
And it’s by making purchases that the card unveils its true power – that of a credit-building tool. You build credit by using your USAA Visa secured card to make purchases. After paying back those purchases, USAA reports your payments to the three main credit bureaus: Experian, Equifax, and TransUnion. By managing your credit wisely, you could build a healthier credit history and move to a card with a higher credit limit in the future.
But paying on time is only one part of the equation. You also want to keep your credit use low. Your credit use – or credit utilization – is the amount of available credit you use, with less than 30% usage ideal. Your credit use accounts for 30% of your FICO credit score, making it a critical factor to consider.
Online Account Management Tools
Suppose payments are a critical factor in your credit score. In that case, you’ll want a credit card that makes paying your bills and account management easier. Cardholders enjoy access to the USAA mobile app, providing USAA customer service 24/7 online, digital wallet compatibility for fast mobile payments or checkouts, and a selection of security and protection features.
Cardholders also enjoy access to the Visa payment network. This network provides a v variety of protections itself, including the following:
|Car Rental Loss & Damage Insurance
|Zero Fraud Liability
|Trip Delay Insurance
USAA Member Discounts
USAA members also enjoy access to exclusive discounts. These deals are only available to USAA members and fall under the “USAA Perks” banner. Here’s a quick breakdown of some of the things you’ll find:
- Vehicle purchases: USAA members receive exclusive discounts when purchasing new or used cars via the USAA Car Buying Service.
- Car rentals: Up to 25% savings with partners like Avis, Budget, Enterprise, and Hertz.
- Travel: Members receive price matching on cruises, hotels, resorts, and vacation packages booked with USAA.
- Shopping: Exclusive shopping discounts with hundreds of retailers, including savings on shipping, storage, and moving services.
Here is a selection of ratings for USAA and its secured credit cards:
Should You Apply for the USAA Secured Visa® Platinum Card?
The USAA Secured Visa® Platinum Credit Card is an exciting, secured card for eligible USAA members. The card doesn’t offer rewards or the chance to “double your line” like the Merrick Bank Double Your Line® Secured Credit Card. Still, it does feature no foreign transactions or annual fees. Suppose you want rewards or the opportunity o upgrade. In that case, you won’t find that here – but if you want a steady platform to establish a positive credit history without fees, this is a decent option. And if you still need some more suggestions for bad credit, check out our comprehensive guide to the Easiest Credit Cards to Get with Bad Credit.
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