Credit card review: The USAA Rate Advantage Visa Platinum card

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USAA Rate Advantage Platinum Visa Credit Card
Image Credit: USAA
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Credit cards can be tough to manage for some military families. Between deployments, moves to a new base, and other common military challenges, credit cards might slip to back of mind quickly. With the USAA Rate Advantage Visa Platinum® card, you won’t have much to worry about.

This card charges no annual fee, no foreign transaction fee, no penalty APR, and offers the lowest rates USAA has available for any credit card. As a Visa Platinum® card, you get plenty of value in return. And as a military member or military family, you know USAA has your best interests in mind. If you are in the military or a veteran, you should seriously consider this low-cost card.

An overview of the USAA Rate Advantage Visa Platinum® card

This credit card is a great low-cost card designed primarily for military and veteran families. The USAA Rate Advantage Visa Platinum® card offers the lowest interest rates you can get from a USAA credit card with no annual fee and no foreign transaction fees.

The card is filled with useful benefits, including a free credit score, leading account security features, and special lower Deployment/PCS interest rates and SCRA interest rates exclusively designed for the military. You’ll pay just 4% APR on all balances for up to 12-months during PCS and 4% on existing balances when you go into active duty and quality for SCRA.

With no foreign transaction fees and a security chip, you know you can use the card wherever your service takes you, and your family can swipe and dip the card with ease on or off base.

There is no miles, points, or cash back benefit reward program for this card. It is all about keeping costs and fees low for military members and veterans like you.

USAA Rate Advantage Platinum Visa® Benefits

As long as you keep the card paid off in full every month and avoid balance transfers, cash advances, and late or missed payments, you can use this card for free while it builds your credit score. But the benefits don’t stop at the low costs.

This card gives you access to the USAA mobile app with leading technologies like alerts, account management, and support for Apple Pay, Google Pay, Samsung Pay, and similar mobile wallets. That is all on top of the free credit score you can access in the app.

Visa Platinum® cards come with additional valuable benefits, and this card is included. Benefits include rental car insurance, travel accident and baggage delay insurance, and other help if needed when traveling. For purchases, this card gives you an automatic extended warranty, price protection, and return protection.

These are valuable benefits that should not be underrated. Rental car insurance may cost you $20 per day alone! On a week-long trip, this credit card could save you $140 on rental car coverage. When you add in purchase protection and other travel benefits, the full value of this card comes into focus.

USAA Rate Advantage Platinum Visa® Costs and Fees

While you can get some very valuable rewards from a card with an annual fee, if you want to avoid fees and keep interest rates low, this card lets you do it. In fact, USAA guarantees this card charges the lowest rate for purchases, balance transfers, and cash advances among any of its cards.

The card has no annual fee, no foreign transaction fee, and no penalty APR. Balance transfers and cash advances cost up to 3% of the transaction total.

The card charges variable rate interest of 8.65% to 25.65% APR, which can change at any time with market interest rates. This rate is based on your credit history, and those with the best credit qualify for the best rates.

Late and returned payments cost up to $35 per occurrence. If you avoid these and the other charges listed above, you can use the card indefinitely with no cost as long as you pay it off in full every month by the due date.

Is this the right card for you?

While there are some more exciting cards out there for cash back and other rewards, if you are in the military and primarily want to keep your fees and costs low, this is a great option. The 4% discounted military interest rate while deployed or on active duty brings even more value to the low-cost USAA credit card.

If you want to get a little more from each swipe, consider the USAA Preferred Cash Rewards Visa Signature® or USAA Rewards Visa Signature®. For applicants with lower credit scores, the USAA Secured Card® Platinum Visa® may be what you’re looking for. But If you are in the military and want a simple card to keep your costs low, this is a great card for your unique needs.

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