MoneyGeek’s Take

USAA® Rewards™ American Express® Card Review

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ByDoug Milnes, CFA
Reviewed byAlene Laney
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ByDoug Milnes, CFA
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Reviewed byAlene Laney
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Updated: June 12, 2024

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USAA® Rewards™ American Express® Card

Rewards RateEarn 3X points on dining, 2X points on groceries a...
Annual Fee$0
Balance Transfer Offer0% Introductory APR through your February 2026 bil...
Recommended CreditExcellent
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MoneyGeek conducts in-depth research on credit cards and card issuers using a comprehensive ranking system. The approach includes gathering data from the Consumer Financial Protection Bureau database, standardizing data points for card comparison, estimating average expenditure profiles, factoring in annual and initial bonuses for each card and calculating the three-year value of maintaining the card. Additionally, the methodology includes monthly re-ranking of the cards.

The USAA® Rewards™ American Express® Card doesn’t charge an annual fee and has great value for those who spend a lot in the categories where it gives the highest rewards. It gives three points for every dollar spent on dining, gas and groceries earn two points per dollar, and other eligible transactions earn one point. Because of its fee-free foreign transactions, you can continue to earn while abroad. MoneyGeek's USAA® Rewards™ American Express® Card review covers the card's perks, drawbacks and other features to help you decide if it's the best fit for you.

USAA® Rewards™ American Express® Card Overview

The USAA® Rewards™ American Express® Card gives you points for every dollar spent, plus a bonus after your first qualifying purchase. You can earn one point per dollar of a purchase or double or triple the amount in bonus categories. Redeeming awards is easy, and there are many choices, including cash.

Quick Take

  • No annual or foreign transaction fees
  • 0% APR offer on balance transfers and convenience checks for the first 15 months, then a variable APR of 14.90% – 30.90% after that
  • Balance transfers and checks need to post to your account in the first 90 days for the 0% APR offer to apply
  • 3% balance transfer fees
  • Earn 3x points per dollar on dining
  • Earn 2x points per dollar on groceries and gas
  • Earn 1x point per dollar on all other purchases
  • Earn 2,500 points after making your first qualifying purchase
  • Redeem points for cash, airline or cruise tickets, merchandise, to make a charitable contribution or for gift cards
  • Complimentary travel accident insurance, auto rental coverage, baggage delay and reimbursement, and trip cancellation and interruption coverage
  • Zero liability
  • Extended warranty
  • Access to a concierge service

Important Card Details

You must understand the benefits, fees, rates and other features associated with any credit card. Plus, know your rights as a credit card user. MoneyGeek covered the fine print details to help you evaluate whether theUSAA® Rewards™ American Express® Card is good for you.

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    Annual Fee

    There is no annual fee with the USAA Rewards American Express credit card.

    Foreign Transaction Fee

    The card charges no fees for international transactions.

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    Rewards Rate

    Each qualifying purchase made with this card gets you a minimum of one reward point per dollar, up to a maximum of three points, depending on the purchase category.

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    Regular APR

    The APR on purchases, balance transfers and cash advances ranges from 14.90% – 30.90%, based on your creditworthiness. The APR fluctuates in accordance with the market's prime rate.

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    Introductory APR for Balance Transfers and Convenience Checks

    The APR on balance transfers and convenience checks is waived for the first 15 months for new cardholders if you post the transaction to your account within the first 90 days.

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    Balance Transfer and Cash Advance Fees

    There is a 3% balance transfer or cash advance fee of the transaction amount.

    Penalty Fee for Late or Returned Payments

    You pay a fee of up to $35 for late or returned payments. The first late payment within six billing periods has a $25 late fee, and subsequent late payments get a $35 late fee.

Additional Benefits

There are other benefits of the USAA® Rewards™ American Express® Card that you may be interested in learning about aside from the rewards points.

How the USAA® Rewards™ American Express® Card Compares To Other Cards

Although the USAA® Rewards™ American Express® Card's zero annual fee and significant rewards rates in specific categories did not make it one of the best-reviewed rewards cards, it did compare favorably to the majority of other cards. But you may find a higher reward rate on all purchases with another card.

How the USAA® Rewards™ American Express® Card Compares

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USAA® Rewards™ American Express® Card

  • Annual fee: None
  • Regular APR: 14.90% – 30.90% variable
  • Rewards rate: 1–3 points per dollar
  • Foreign transaction fee: None
  • Best for: Military members looking for a no-annual-fee card with significant rewards in categories they spend money in often
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Capital One Quicksilver Cash Rewards Credit Card

  • Annual fee: None
  • Regular APR: 19.99% – 29.99% variable
  • Rewards rate: 1.5%
  • International transaction fee: None
  • Best for: Minimalist shoppers who want cash back for daily spending

Frequently Asked Questions

What is the average credit score needed to get approved for the USAA® Rewards™ American Express® Card?
Does the USAA® Rewards™ American Express® Card report to all three credit bureaus?
Is theUSAA® Rewards™ American Express® Card application process lengthy? Can you prequalify?
What information is needed to apply for the USAA® Rewards™ American Express® Card?
Does the USAA® Rewards™ American Express® Card have good customer service or satisfaction?
Does the USAA® Rewards™ American Express® Card have a mobile app or the option to pay or manage your account online?
Does the USAA® Rewards™ American Express® Card raise credit limits automatically or charge for limit increases?
Does the USAA® Rewards™ American Express® Card offer the option to freeze your credit/account or have other security features?
Does USAA Savings Bank offer other credit cards besides the USAA® Rewards™ American Express® Card?

About Doug Milnes, CFA


Doug Milnes, CFA headshot

Doug Milnes is a CFA charter holder with over 10 years of experience in corporate finance and the Head of Credit Cards at MoneyGeek. Formerly, he performed valuations for Duff and Phelps and financial planning and analysis for various companies. His analysis has been cited by U.S. News and World Report, The Hill, the Los Angeles Times, The New York Times and many other outlets.

Milnes holds a master’s degree in data science from Northwestern University. He geeks out on helping people feel on top of their credit card use, from managing debt to optimizing rewards.


*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.
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