MoneyGeek’s Take

USAA Rewards Visa Signature Card Review

With the no-annual-fee USAA Rewards Visa Signature card, military families may earn one or two points per dollar spent on eligible transactions. You may also take advantage of an offer of 2,500 extra points when you make your first qualifying purchase.

Last Updated: 5/30/2022
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The USAA Rewards Visa Signature Card has no annual fee and can be a great bargain for people who spend frequently in the card's highest-earning categories. It earns two points for every dollar spent on dining out and gas expenses and one point per dollar for each qualifying transaction. You can also earn rewards while traveling outside the U.S. and don’t have to worry about paying foreign transaction fees.

Our MoneyGeek USAA Rewards Visa Signature Card review dives deep into the card's features, pros and cons to help you decide whether the card is the right one for you.

Card Details to Know Up Front
  • Bonus, Fee or Feature
    Has or Not
  • Has Annual Fee
  • Has Balance Transfer Offer
  • Has APR Offer
  • Cash Back Rewards
  • Travel Rewards
Click to see this card’s rates, fees and how they compare to other cards in our dataset.
OUR REVIEW AT A GLANCE

USAA Rewards Visa Signature Card at a Glance

With the USAA Rewards Visa Signature Card, every dollar spent on dining and gas expenses earns you two points, and every other qualified transaction earns you one point. You will also receive 2,500 bonus points after your first eligible purchase. Furthermore, there is no annual fee or foreign transaction fee, and convenience checks and balance transfers have 0% APR for the first 15 months.


  • USAA Rewards Visa Signature Card

    A good balance transfer credit card with rewards and no annual fees

    • Good - ExcellentCredit Needed
    • $0Annual Fee
    • 1-2 pointsRewards Rate
    • 15 monthsBalance Transfer Duration

Pros & Cons Explained

Although the USAA Rewards Visa Signature Card offers numerous perks, you should be aware of some of the card's drawbacks.

Pros

  • Benefits
    Description
  • No Annual Fee
    This card has no annual fee, so you can continue using it wherever possible and maximize your rewards.
  • Bonus Points for First Eligible Purchase
    After making their first qualified transaction, new cardholders receive 2,500 bonus points. There is no upper limit on the rewards points you can earn.
  • Good Rewards Rate Across Categories
    You have the potential to earn between one to two reward points for every dollar spent on qualifying transactions.
  • 0% Intro APR for Balance Transfers
    For the first 15 months of card ownership, you can write convenience checks (or cash advances) and make balance transfers without incurring interest. They must be posted to your account within 90 days of account opening.
  • No Foreign Transaction Fee
    You can earn the same rewards while traveling overseas as you can at home because there are no foreign transaction costs.

Cons

  • Drawbacks
    Description
  • Not Accessible to All
    Only current or former military people, or family members of military personnel, are eligible for the card.
  • High APR
    Based on your creditworthiness, the APR on this card can range from 9.90% to 25.90%. Balance transfers and convenience checks (or cash advances) carry the same APR after the interest-free introductory period of 15 months.
  • 3% Fee for Balance Transfers and Cash Advances
    A 3% fee is applied on all balance transfers and cash advances.
  • Penalty Fee
    There is a fee for late payments or payments that are returned for any reason. A $25 late fee will be levied for the first late payment within six billing periods, and a $35 late fee will be applied on consecutive late payments.
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LOOKING FOR THE BEST CREDIT CARDS OF 2022?

While the USAA Rewards Visa Signature Card may be perfect for you, it did not make our selection of the best rewards credit cards for 2022. If it’s not the card for you, perhaps one of the other cards on our list is a better fit, and you can also consider our picks of the best cash back credit cards.

Bonuses & Rewards Explained

Additional benefits and features, as explained below, are included in the Rewards Visa Signature Card from USAA.

1

New Cardholder Bonus

New cardholders earn 2,500 bonus points on their first qualified purchase.

2

Earning Rewards

At least one reward point is guaranteed for every dollar spent on eligible purchases with this card. Buying gas and dining out earns you two reward points for every dollar spent, while all other expenditures qualify for one point. Those who spend a lot of money on gas and eating out may find this to be a good card for collecting points.

3

Rewards Redemption

You can use your reward points to purchase travel tickets or other products, like merchandise and gift cards.

Other Features Explained

You may be interested in learning about some of the other USAA Rewards Visa Signature Card benefits, such as:

  • Card Feature
    Description
  • 24/7 Customer Service
    The company offers 24-hour online customer service to handle any concerns or questions you may have.
  • Travel Accident Insurance
    Using your USAA card to purchase air, ferry, cruise, train or bus tickets provides coverage for loss of life or limb in the event of an accident.
  • Trip Cancellation and Interruption Coverage
    For non-refundable pre-paid passenger tickets purchased using this card, you will receive reimbursement of up to $1,500 per covered person for canceled trips.
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MONEYGEEK QUICK TIP

Military families who spend a lot on gas purchases and restaurants may find the USAA Rewards Visa Signature Card attractive. Those who travel can make the best use of the card due to its lack of foreign transaction fees, complimentary trip cancellation and interruption coverage, travel accident insurance and auto rental coverage.

Understanding the Fine Print

You should be aware of your credit card user rights to evaluate the pros and cons, fees, rates and other aspects of credit cards. The rates, fees and rewards rates for the USAA Rewards Visa Signature Card are shown in the table below.

  • Card Feature
    Amount or Rate
  • APR
    9.90% - 25.90%
  • Annual Fee
    $0
  • Cash Back Rewards
  • Rewards Rate
    1-2 points
  • Airline Benefits

Using MoneyGeek's credit card glossary, you can learn about some of the credit card terms that you're unfamiliar with.

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    Annual Fee

    The card doesn’t have a yearly fee.

  • This is an icon

    Foreign Transaction Fee

    There is no fee involved for the transactions and purchases you make abroad.

  • This is an icon

    Rewards Rate

    Each eligible purchase you make with this card gets you one or two points per dollar based on the purchase category.

  • This is an icon

    Regular APR

    Based on how creditworthy you are, your purchases, balance transfers and cash advances will have an APR of between 9.90% and 25.90%.

  • This is an icon

    Introductory APR for Balance Transfers and Convenience Checks

    For new cards, the APR on balance transfers and convenience checks is waived for the first 15 months. Note that this is only applicable if the balance transfer or convenience check (cash advance) is made within 90 days of account opening.

  • This is an icon

    Balance Transfer and Cash Advance Fee

    All balance transfers and cash advances are subject to a 3% fee per transaction.

  • Penalty Fee

    A fee of up to $35 will be levied if you pay late or if your payment is returned for any reason. A $25 late fee will be levied for the first late payment within six billing periods, and a $35 late fee will be assessed for consecutive late payments.

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WHERE TO FIND THIS INFORMATION?

Your credit card comparison must include the annual fee, APR, rewards, penalties, bonuses and other features of each card you're evaluating. If you currently have another card and wish to compare it to the USAA Rewards Visa Signature Card, you can get additional details by visiting the card issuer's website, online account or mobile app.

Likewise, the Consumer Financial Protection Bureau's database of credit card agreements may provide pertinent information about your current credit card issuer.

Who Should & Shouldn’t Consider USAA Rewards Visa Signature Card?

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Other Considerations for USAA Rewards Visa Signature Card

Take the following factors into consideration when applying for a USAA Rewards Visa Signature Card, regardless of whether it will be your sole card or one of several add-on cards you are considering:

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

The fact that this card doesn't charge an annual fee is a big plus if this is your first or only credit card. There are no foreign transaction fees, so this will work as a good card for your expenses while abroad.

If it's your only card or first card, try to maximize its use across the categories that reward you the most, like gas purchases and dining out. This way, you can get the most out of the card. For those who make regular purchases that do not fall into one of the reward categories given by the card, you may be able to find another card with a lower APR and reward categories that are more beneficial to you.

Bear in mind that the card has a high annual percentage rate, which means that if you do not pay your bills on time or carry a balance, the APR will kick in along with any related penalty. Even if you're just starting to build your credit, paying late reflects negatively on your credit record.

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

Since the USAA Rewards Visa Signature Card doesn’t have an annual fee, you may wish to consider adding it to your credit card portfolio. It charges a high APR, so you may want to use it with a credit card that charges a lower APR. The card's 15-month interest-free period can be beneficial if you make balance transfers or write convenience checks (cash advances) within 90 days of your account opening.

The best thing to do is use this card for purchasing gas and eating out if your other cards don't reward you for spending in those areas. Foreign transactions are also free, so you may want to keep it for international travel if your other cards charge foreign transaction fees. Reward points can be used to buy gift cards, airline tickets and other items, or transferred to your credit card.

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WHY TRUST OUR REVIEWS:

MoneyGeek uses a comprehensive grading methodology to research credit cards and card companies. According to this method, we gather data from the Consumer Financial Protection Bureau's database, standardize data points for comparison, estimate expenditure profiles, factor in annual or initial bonuses for each card and calculate a three-year value of using the card. Our methodology also includes regular and semi-annual updates and monthly re-rankings.

How USAA Rewards Visa Signature Card Compares to Other Cards

While the USAA Rewards Visa Signature Card's no-annual-fee structure and competitive reward rates did not make it one of the best rewards cards, it did fare well in comparison to other cards. Before comparing the card to its competitors, consider the most important qualities to you in a credit card.

Quick Comparison of USAA Rewards Visa Signature Card
creditCard

USAA Rewards Visa Signature Card

  • Annual fee: None
  • Regular APR: 9.90%–25.90%
  • Rewards rate: 1–3 points per dollar
  • Foreign transaction fee: None
  • Best for: Military members looking for a good balance transfer credit card with rewards and no annual fees
creditCard1

Chase Freedom Unlimited

  • Annual fee: None
  • Regular APR: 14.99%–23.74%
  • Rewards rate: 1.5%–5%
  • Foreign transaction fee: 3%
  • Best for: Minimalist deal-seeking shoppers looking for a no-annual-fee card

Other Helpful Decision-Making Q&As

If you have more questions about the USAA Rewards Visa Signature Card, we’ve answered the most frequently asked ones below:

Still not sure about this card? Consider these options.

If you're still not sure about getting the USAA Rewards Visa Signature Card, look into some of the other rewards cards on the market. Based on what you primarily use your card for, a cash back card with no annual fee and unlimited rewards earning potential across all categories might be a good alternative.

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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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