MoneyGeek’s Take

USAA Rate Advantage Visa Platinum Card Review

The USAA Rate Advantage Visa Platinum Card is a low-rate credit card whose benefits include one of the lowest APRs in the market and a 0% intro APR for 15 months on balance transfers. However, you can only take advantage of the USAA Rate Advantage Visa Platinum Card benefits if you have a military background.

Advertising & Editorial DisclosureLast Updated: 5/30/2022
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Last Updated: 5/30/2022

If you have a military background and need a card with low fees, the USAA Rate Advantage Visa Platinum Card is one of the best options available. With no annual fees, no foreign transaction fees and low APR rates, this credit card is ideal if you want a low-rate card. The 0% intro APR for 15 months offer can also help you pay off purchases without incurring any interest charges. However, this is not a card that earns rewards.

MoneyGeek broke down all the card’s features and pros and cons in our USAA Rate Advantage Visa Platinum Card review.

Card Details to Know Up Front
  • Bonus, Fee or Feature
    Has or Not
  • Has Annual Fee
  • Has Balance Transfer Offer
  • Has APR Offer
  • Has Rewarding Welcome Offer
  • Credit Needed
    Excellent
Click to see this card’s rates, fees and how they compare to other cards in our dataset.

USAA Rate Advantage Visa Platinum Card at a Glance

The USAA Rate Advantage Visa Platinum Card is one of few options that offers an APR rate as low as 7.15%, depending on your creditworthiness. This low-interest rate and lack of charges, such as annual and foreign transaction fees, making this one of the most affordable credit cards.


  • USAA® Rate Advantage Visa Platinum® Card

    A good no-annual-fee balance transfer card with added protections


    • ExcellentCredit Needed
    • $0Annual Fee
    • 6.90% - 23.90%APR
    • 15 monthsBalance Transfer Duration

Pros & Cons Explained

Before you submit your USAA Rate Advantage Visa Platinum Card application, be aware of this card’s main pros and cons.

Pros

  • Benefits
    Description
  • Low APR
    The standard APR rate of 7.15% to 24.15% is relatively low compared to other credit cards. If you have a good credit score, you may qualify for an APR as low as 7.15%. But even those who do not have good credit will pay low APR rates compared to other credit cards.
  • Few Fees
    The card has no annual or foreign transaction fees or penalty APR, so it's ideal if you want a low-cost credit card.
  • Decent Travel Perks
    Card benefits include auto rental collision damage waiver, baggage delay reimbursement, trip cancellation and interruption coverage, and travel accident insurance.

Cons

  • Drawbacks
    Description
  • Only available to people with a military background
    USAA Rate Advantage Visa Platinum Card is only available to those in the military, veterans or their families.
  • No rewards
    This card doesn’t have a rewards program.
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INTERESTED IN COMPARING THE BEST CREDIT CARDS OF 2022?

The USAA Rate Advantage Visa Platinum Card is one of the best cards for military members. If you don’t have a military background, you can refer to MoneyGeek’s recommendations for the best credit cards based on different profiles and categories, including best rewards credit cards.

Other Features Explained

The USAA Rate Advantage Visa Platinum Card is a low-interest credit card that doesn’t offer rewards but has some of the lowest rates in the market. It also comes with the following main features:

  • Card Feature
    Description
  • Standard features
    USAA Rate Advantage Visa Platinum Card benefits include rental car insurance, travel accident insurance, concierge services for reservations, event tickets and shopping, trip cancellation and interruption coverage, baggage delay and reimbursement, and extended warranty protection on U.S. manufacturers' warranties.
  • Security Features
    This card comes with zero liability for unauthorized transactions. You can also access your account online or via the mobile app to report a stolen or lost card. Cardholders can set up alerts on their account and get notified in case of suspicious activity.
  • Customer Experience
    The USAA Rate Advantage Visa Platinum Card comes with round-the-clock access to customer support via phone, live chat or mobile app. You can also conveniently manage your account and make payments online. USAA has an excellent customer service record and received the highest score among all issuers in J.D. Power’s 2021 Credit Card Satisfaction Survey.
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MONEYGEEK QUICK TIP

When you sign up for the USAA Rate Advantage Visa Platinum Card, you will enjoy a 0% intro APR for the first 15 months. This means you can use this card to pay off balances and purchases at 0% interest and save on interest charges for 15 months.

Understanding the Fine Print

Apart from interest charges, other rates and fees may apply to your USAA Rate Advantage Visa Platinum Card. Understanding these charges will help you avoid additional penalties, interest and fees that increase your credit card debt.

  • Card Feature
    Amount or Rate
  • APR
    6.90% - 23.90%
  • Annual Fee
    $0
  • Balance Transfer Fee
    3%
  • Balance Transfer APR
    6.90% - 23.90%
  • Late Fees
    $35
  • This is an icon

    Regular APR

    This card has a 0% introductory APR for 15 months, then a variable regular APR of 7.15% to 24.15%. You may qualify for even lower APR rates, if you have an excellent credit score.

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    Annual fee

    You will not pay any annual fees for the USAA Rate Advantage Visa Platinum Card.

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    Cash advance fee

    The cash advance fee for the USAA Rate Advantage Visa Platinum Card is 3% of the amount, but fees are waived if you transfer funds electronically to a USAA deposit account.

  • This is an icon

    Balance transfer fee

    The balance transfer fee for this card is 3% of the amount of each balance transfer.

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    Foreign transaction fees

    You can use the card globally at no extra charge.

  • Penalty Fees

    The penalty fee for late or returned payments is $25 for the first time and $35 for subsequent late or returned payments.

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WHERE TO FIND THIS INFORMATION?

To keep up to date with the features, offers and rates of any credit cards in your wallet, refer to their respective websites, such as the USAA Rate Advantage Visa Platinum Card website. Your monthly billing statement will also contain updates and other information on rates and terms. Depending on the issuer, you may also be able to get useful information from the Consumer Finance Protection Bureau’s credit card agreement database.

Who Should & Shouldn’t Consider USAA Rate Advantage Visa Platinum Card?

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Other Considerations for USAA Rate Advantage Visa Platinum Card

The USAA Rate Advantage Visa Platinum Card is a great primary credit card option because of its low APR. It also offers good value as an additional card in your wallet.

Things to Consider if This Will Be Your First or Only Credit Card

The USAA Rate Advantage Visa Platinum Card credit score requirement is 670 to 850, meaning you need a good to excellent credit score to qualify. The better your credit score, the lower your APR. If this will be your primary credit card, note that you will not earn any rewards. You should consider getting a separate card for rewards if you want to earn cash back or points on your purchases.

Things to Consider if This Will Be an Additional Card in Your Wallet

If you will use the USAA Rate Advantage Visa Platinum Card as a secondary card, you can take advantage of its relatively long 0% intro APR period to pay off balances interest free. You can also use this card for cash advances since you don’t pay any fees if you transfer cash advances electronically to a USAA account. This card will also help you save on interest charges when you transfer large purchases made on other cards.

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WHY TRUST OUR REVIEWS:

MoneyGeek’s methodology and review process helps us determine the best credit cards for different profiles based on card fees, interest rates, rewards, benefits and more. We follow a comprehensive six-step process that involves collecting credit card information, standardizing data point weights, establishing the cards' values and ranks for different categories, and reviewing data and rankings, among other key rating factors.

How USAA Rate Advantage Visa Platinum Card Compares to Other Cards

One of the USAA Rate Advantage Visa Platinum Card benefits is its low standard APR. Compared to others, this credit card offers one of the lowest APRs available, starting at 7.15%. This card is also relatively low on fees, with no annual or foreign transaction fees or penalty APR. However, if you have a military background and you want a low cost card that also offers rewards in different spending categories, you may be better off with the USAA Rewards Visa Signature Credit Card.

Quick Comparison of USAA Rate Advantage Visa Platinum Card

creditCard

USAA Rate Advantage Visa Platinum

  • Annual fee: None
  • Purchase APR: 7.15%–24.15%
  • Foreign transaction fee: None
  • Rewards rate: No rewards
  • Best for: People who want a low-rate credit card and do not need a rewards card
creditCard1

USAA Rewards Visa Signature Credit Card

  • Annual fee: None
  • Purchase APR: 10.15%–26.15% (Variable)
  • Foreign transaction fee: None
  • Rewards rate: 2 points per dollar for gas and dining, 1 point per dollar on all other eligible purchases
  • Best for: People who want a low-cost credit card that also offers rewards in different spending categories

Other Helpful Decision-Making Q&As

We answered common questions asked about the USAA Rate Advantage Visa Platinum Card to help you understand if this is the right credit card for you.

Still not sure about this card? Consider these options.

The USAA Rate Advantage Visa Platinum Card is a solid choice for those with a military background who want a credit card with a low APR and few fees. This card also offers travel benefits and perks rare in no-annual-fee cards. However, if you also want a credit card that earns you rewards for spending, you may consider our recommendations for the best rewards cards.

Learn more about credit cards in general

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*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available.
Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity.
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