USAA Rate Advantage Platinum Visa Card Review: Rebuild Your Credit with No Annual Fee [2019]

The USAA Rate Advantage Platinum Visa Card is a great card for someone looking to build or rebuild their credit without paying an annual fee.
4 minute read | 9/10/19Sept. 10, 2019

Rebuilding your credit can be a long road, but there are products designed to help you get back on track. If you’re a military member — or the family member of one — you have access to great financial products through USAA (United Services Automobile Association).

The USAA Rate Advantage Platinum Visa Card is for those looking to build or rebuild their credit while benefiting from low interest rates and no annual fee. While the card doesn’t come with any rewards or sign-up bonus, it could be your next go-to credit card because of the benefits it offers.

In this USAA Rate Advantage Platinum Visa Card review, we’ll discuss the details and perks of this card.

Low Interest for Military Members

USAA Rate Advantage Platinum Visa Card

USAA Rate Advantage Platinum Visa Card

USAA Rate Advantage Platinum Visa Card

Benefits

  • Low interest rate
  • Special features for military members
  • No foreign transaction fees
  • No annual fee


Who should get this card?

If you’re a member of USAA looking to dip your toes into using a credit card for the first time or restore your damaged credit score, this card could be a great option. Also, if you’re someone who typically carries a balance on your credit cards or uses cash advances, this card will suit you, as the rates are much lower than other cards offered by USAA and other banks.

In addition, this card is for someone who isn’t set on the amount of credit that will be extended to them. Many credit cards state that upon approval that you’re guaranteed a certain credit line. With the USAA Rate Advantage Platinum Visa Card, the credit line will be based on your income and debt. So be aware that if you’re looking to make a large purchase with this card, you may not be given the credit line you need.

Card basics

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

Top card benefits

  • Low interest: For those looking to build their credit, the USAA Rate Advantage Platinum Visa Card offers interest rates from 9.15% to 26.15% (variable) on purchases, balance transfers, and cash advances. This rate is based on your credit history and market interest rates.
  • No foreign transaction fees and no penalty APR: When spending outside of the United States, you won’t incur any foreign transaction fees. Also, there’s no penalty APR (annual percentage rate) if you fall behind on your payments.
  • Extended warranty protection: When the manufacturer’s warranty runs out on your purchases, your USAA Rate Advantage Platinum Visa Card could extend your policy for up to one extra year.
  • SCRA interest rate benefits: The Servicemembers Civil Relief Act (SCRA) provides active-duty service members a reduced interest rate of 6% on credit card debt incurred prior to active duty. USAA takes that further by offering an even lower rate of 4%.
  • No annual fee: There’s no annual fee for this card.
  • Rental car protection: With the USAA Rate Advantage Platinum Visa Card, your rental car may qualify for collision damage waiver insurance. This insurance is activated when you purchase the car rental using the card.

Common questions

How long does it take to get approved for the USAA Rate Advantage Platinum Visa Card?

If you’re approved for the USAA Rate Advantage Platinum Visa Card, you’ll be notified instantly.

What's the USAA Rate Advantage credit score requirement?

The recommended credit score to be approved for the USAA Rate Advantage Platinum Visa Credit Card is good or excellent.

How do I pay my USAA credit card?

You can pay your USAA credit card bill online with the USAA account portal or over the phone at 800-531-8722.

Which USAA credit card is best?

Each of the USAA credit cards has its own benefits. However, the USAA Rate Advantage Platinum Visa Card is best for those who aren’t prioritizing credit card rewards but are looking to have a credit card with a lower interest rate to carry a balance.

Do I qualify for a USAA credit card?

To qualify for the USAA credit card, you first need to be a USAA member. The following can qualify for membership with USAA:

  • Active duty or former service members (discharged honorably) in the U.S. Air Force, Army, Coast Guard, Marines, Navy, National Guard, or Reserves
  • Widows and un-remarried former spouses of USAA members who joined USAA prior to or during the marriage
  • Individuals whose parents joined USAA
  • Cadets and midshipmen at U.S. service academies in advanced ROTC or on ROTC scholarship
  • Officer candidates within 24 months of commissioning

For the best chance of being approved for the USAA Rate Advantage Platinum Visa Card, you’ll need to have a good-to-excellent FICO score of 670 or higher.

Other cards to consider

As the USAA Rate Advantage Platinum Visa Card doesn’t have any sort of rewards system, you may want to consider a card that earns valuable points or cash back. Also, keep in mind that there are credit cards for military members that may suit your financial needs more than the USAA Rate Advantage Platinum Visa Card.

As an alternative, the USAA Preferred Cash Rewards Visa Signature Credit Card is a great option for a USAA member who has established credit and is looking to earn rewards on their purchases. With this card, you’ll get unlimited 1.5% cash back on every purchase, every day. Along with this, you’ll also enjoy rental car protection, no foreign transaction fees, and no annual fee.

The Capital One Quicksilver Cash Rewards Credit Card has great earning potential as a general everyday spending card with no rewards categories to track. You’ll earn 1.5% cash back rewards on every purchase, every day as well as the potential to earn $150 cash back bonus after spending $500 in the first 3 months. Along with these great earnings, you’ll have 0% APR on all purchases for 15 months.

Low Interest for Military Members

USAA Rate Advantage Platinum Visa Card

USAA Rate Advantage Platinum Visa Card

USAA Rate Advantage Platinum Visa Card

Special Offer

Cardholders enjoy no annual fee, no foreign transaction fees, and no penalty APRs.

See how these cards compare:

USAA Preferred Cash Rewards Visa Signature Card
USAA Preferred Cash Rewards Visa Signature Card
  • Unlimited 1.5% cash back
  • No foreign transaction fees
  • No penalty APR
  • No annual fee
Capital One Quicksilver Cash Rewards Credit Card
Capital One Quicksilver Cash Rewards Credit Card
  • $150 cash bonus welcome offer
  • Unlimited 1.5% cash back on every purchase, every day
  • 0% Intro APR on purchases and transfers for 15 months
  • No foreign transaction fees

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