USAA Preferred Cash Rewards Visa Signature Card Review [2023]: Cash Back Made Simple

CREDIT CARDS - CASHBACK CREDIT CARDS
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.
Updated Nov. 27, 2023

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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
4.0

USAA Preferred Cash Rewards Visa Signature Card

Current Offer

No liability on unauthorized purchases

Annual Fee

$0

Rewards Rate

unlimited 1.5% cash back on every purchase, every day

Benefits and Drawbacks
Card Details

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

Card type Cash Back
Annual fee $0
Intro bonus None
Intro APR 0% for 15 months on purchases, then 17.15% to 31.15% (variable) APR
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 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 10% cash back on purchases made through Uber & Uber Eats (through 11/14/2024); 8% cash back on Capital One Entertainment; 4% cash back on dining, entertainment, and select streaming services; 3% at grocery stores (excluding superstores such as Walmart® and Target®), 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 credit 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 on every purchase, every day; and 5% cash back on hotels and rental cars booked through Capital One Travel (terms apply). Plus, you’ll have the opportunity to earn a one-time $200 cash bonus after you spend $500 on purchases within 3 months from account opening.

The Chase Freedom Unlimited® is another great cashback card, especially if you’re planning on large purchases within the first year of holding the card. With the Chase Freedom Unlimited, you’ll earn 5% cash back on travel purchased through Chase Ultimate Rewards®, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery services and unlimited 1.5% cash back on all other purchases. Plus, it offers a 0% intro APR on purchases for 15 months (then 20.49% - 29.24% Variable).

Unlimited Rewards for USAA Members

USAA Preferred Cash Rewards Visa Signature Card
4.0

USAA Preferred Cash Rewards Visa Signature Card

Why We Like It

No liability on unauthorized purchases

See how these cards compare:

Capital One Quicksilver Cash Rewards Credit Card
Capital One Quicksilver Cash Rewards Credit Card
  • Earn a one-time $200 cash bonus after you spend $500 on purchases within 3 months from account opening
  • No annual fee
  • 0% intro APR for 15 months on purchases and balance transfers, then 19.99% - 29.99% (variable) APR; 3% fee on the amounts transferred within the first 15 months (or at a promotional APR that Capital One may offer you at any other time; No fee for amounts transferred at the Transfer APR)
  • 1.5% cash back on every purchase, every day
  • Rates and fees
Chase Freedom Unlimited®
Chase Freedom Unlimited®
  • Unlimited matched cash back. Use your card for all your purchases and at the end of your first year, Chase will automatically match all the cash back you earned (there is no limit to how much you can earn; every dollar in cash back rewards you earn is a dollar Chase will match)
  • Bonus rewards on eligible travel, dining, and drugstores
  • No annual fee
  • Intro APR on purchases and balance transfers

Author Details

Brett Holzhauer Brett Holzhauer is a graduate of the Walter Cronkite School of Journalism at Arizona State University. He writes about using points & miles for travel, travel industry news, utilizing credit cards as financial leverage, and investing for the future. He has been featured in publications such as The Points Guy, Million Mile Secrets, The Money Manual, Recruiter, Travel Pulse, and Bald Thoughts. He is a full-time digital nomad with his wife, Kiersten.

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