USAA Preferred Cash Rewards Visa Signature Card Review: Cash Back Made Simple [2020]

If you are in the market for a general cashback card through USAA, the USAA Preferred Cash Rewards Visa Signature Card could suit your financial needs.
Last updated Nov 24, 2019 | By Brett Holzhauer

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The USAA Preferred Cash Rewards Visa Signature Card is a great card for a member of USAA (United Services Automobile Association) who is looking to save money on expenses. With unlimited cashback potential, this card could earn you hundreds of dollars in cash back each year. Since it also comes with rental car protection and no foreign transaction fees, this card is worth considering for a spot in your billfold.

In this USAA Preferred Cash Rewards Visa Signature Card review, you’ll learn more about this card’s earning potential and whether or not you may qualify as a USAA member.

Unlimited Rewards for USAA Members

USAA Preferred Cash Rewards Visa Signature Card

USAA Preferred Cash Rewards Visa Signature Card

USAA Preferred Cash Rewards Visa Signature Card

Benefits

  • Unlimited 1.5% cash back
  • No foreign transaction fees
  • No penalty APR
  • No annual fee


Who should get this card?

If you’re looking for hassle-free cashback earnings as a USAA member, the USAA Preferred Cash Rewards Visa Signature Card could be a great fit for your needs. Additionally, if you’re a current military member looking at active duty in your future, you might also benefit from the extra-low interest rate on any debt you incur prior to going on active duty — even lower than the Servicemembers Civil Relief Act (SCRA) requirement.

This card is worth it for the respectable cashback rate, along with having no foreign transaction fees and no annual fee. However, this card requires the applicant to have good-to-excellent credit, which is typically above 670.

Card basics

Annual Fee $0
Intro Bonus None
Recommended Credit Score Excellent, Good
Foreign Transaction Fee None

Top card benefits

  • Unlimited cash back on every purchase: You’ll earn unlimited 1.5% cash back on every purchase, every day. Not having to track rotating categories or which purchases earn you different interest rates makes this cashback card much less complex than many.
  • SCRA interest rate benefits: The SCRA provides active duty service members a reduced interest rate of 6% on credit card debt incurred prior to active duty. However, USAA offers an even lower rate of 4%. This benefit is just one way military members can save big on credit cards.
  • No foreign transaction fees: When spending abroad, you won’t incur any foreign transaction fees.
  • No annual fee: There’s no annual fee to this card.
  • Rental car protection: With the USAA Preferred Cash Rewards Visa Signature Card, your rental car is protected with complimentary collision damage waiver insurance if you’re in an accident.
  • Extended warranty protection: Your purchases on this card may be eligible for extended warranty protection.

Earning & redeeming

It’s simple to score cash back with the USAA Preferred Cash Rewards Visa Signature Card. You’ll earn an unlimited 1.5% cash back on every purchase, every day. As such, this card is best used as an “everyday” card for purchases that wouldn’t fall into another card’s special rewards category (like a card with a specific rate for groceries or gas).

If you want to maximize your cashback earnings, consider using this card in conjunction with a second card that has specialty categories, like the Capital One® Savor® Cash Rewards Credit Card. If you like going out, this card will be perfect for you as you’ll earn 8% cash back on tickets purchased through Vivid Seats (through January 2022), 4% unlimited cash back on dining and entertainment, 2% at grocery stores, and 1% cash back on all other purchases.

Common questions

How do I redeem USAA cash rewards?

You may redeem the cash back you have earned with your account at any time by accessing the USAA Rewards Service Center at USAA.org or by calling 800-980-8722. You can redeem any particular amount of your cash back, but you must redeem it in increments of $1.00.

Is a USAA credit card good?

USAA credit cards are good cards designed with servicemembers in mind. That said, there are other cards out there that are also great credit cards for military members.

Which USAA credit card is easiest to get?

None of the USAA cards are easier than others to be approved for. All of them require good-to-excellent credit. For the best chance of being approved for the USAA Preferred Cash Rewards Visa Signature Card, you’ll need to have a FICO score of 670 or higher.

Can I get a USAA credit card if I'm not in the military?

You can qualify for a USAA credit card if you are one of the following:

  • Active duty or former service member (discharged honorably) in the U.S. Air Force, Army, Coast Guard, Marines, Navy, National Guard, or Reserves
  • A widow, widower, or un-remarried former spouse of a USAA member who joined USAA prior to or during the marriage
  • An individual whose parents joined USAA
  • A cadet or midshipman at a U.S. service academy in advanced ROTC or on ROTC scholarship
  • An officer candidate within 24 months of commissioning

Other cards to consider

If the USAA Preferred Cash Rewards Visa Signature Card doesn’t sound like it will suit your needs, consider the following credit cards for your spending:

The Capital One® Quicksilver® Cash Rewards Credit Card earns the same rate of cash back but includes more perks than the USAA Preferred Cash Rewards Visa Signature Card. You’ll earn 1.5% cash back rewards on every purchase, every day. Plus, you’ll have the opportunity to earn a $150 cash back bonus after spending $500 in the first 3 months.

The Chase Freedom Unlimited is another great card for cashback earning, especially if you’re planning on large purchases within the first year of holding the card. With the Chase Freedom Unlimited, you’ll earn an unlimited 1.5% cash back on all purchases.

Unlimited Rewards for USAA Members

USAA Preferred Cash Rewards Visa Signature Card

USAA Preferred Cash Rewards Visa Signature Card

USAA Preferred Cash Rewards Visa Signature Card

Special Offer

No liability on unauthorized purchases

See how these cards compare:

Capital One® Quicksilver® Cash Rewards Credit Card
Capital One® Quicksilver® Cash Rewards Credit Card
  • $150 early spend bonus
  • No annual fee
  • 0% intro APR on purchases for 15 months
  • 1.5% cash back on every purchase, every day
Chase Freedom Unlimited
Chase Freedom Unlimited
  • $150 sign-up bonus
  • No annual fee
  • 0% intro APR on purchases and balance transfers
  • 5% cash back on Lyft rides
  • 1.5% cash back on all other purchases