Advertiser Disclosure
Advertiser Disclosure: The credit card and banking offers that appear on this site are from credit card companies and banks from which receives compensation. This compensation may impact how and where products appear on this site, including, for example, the order in which they appear on category pages. does not include all banks, credit card companies or all available credit card offers, although best efforts are made to include a comprehensive list of offers regardless of compensation. Advertiser partners include American Express, Chase, U.S. Bank, and Barclaycard, among others.

USAA Preferred Cash Rewards Credit Card: 2024 Review

USAA members have access to an attractive credit card with no categories to manage and a flat cashback rate on purchases.

It offers many benefits, including a low intro Annual Percentage Rate (APR) on purchases.

Here’s a USAA Preferred Cash Rewards Credit Card review to see how it compares to others.

USAA Preferred Cash Rewards Credit Card: Overview

Usaa Preferred Cash Rewards Vis Signature Card Art
  • Annual Fee: $0
  • Intro APR: 0% for 15 months
  • Regular APR (variable): 17.15% – 29.15%
  • Reward Rate: 1.5% cash back on purchases
  • Bonus Offer & Details: n/a
  • Recommended Credit Score: Excellent/Good

USAA Preferred Cash Rewards Credit Card: Features

If you’re looking for a no-fuss rewards credit card with easy-to-manage rewards, the USAA Preferred Cash Rewards Credit Card is a solid choice.

Without categories to manage and an attractive introductory APR, there’s a lot to like about this card.

Flat Rate Cashback

The USAA Preferred Cash Rewards Credit Card pays a flat rate of 1.5% cashback on most purchases. You don’t have to worry about managing categories or activating offers, and there aren’t any category restrictions.

Introductory Offer

Earn a $200 reward bonus when you spend $1,000 on qualifying purchases within 90 days of account opening.

No Annual Fee

Many rewards credit cards charge annual fees, but the USAA Preferred Cash Rewards card doesn’t charge an annual fee.

Zero Liability

Relying on US coverage from USAA means zero liability for unauthorized transactions. This includes transactions reported to USAA as unauthorized by someone other than yourself or anyone you provided implied permission to use your card.

Personalized Alerts

You can set up customized alerts to learn about card usage, balance changes, or upcoming due dates.

Pros and Cons

The USAA Preferred Cash Rewards Credit Card has pros and cons to consider when deciding if it’s the right card for you.


  • Unlimited rewards (no category caps)
  • No annual fee or foreign transaction fee
  • No penalty APR
  • Easy to track rewards


  • No sign-up bonus
  • Other rewards cards offer higher cashback rates in categories like grocery, gas, or travel
  • 5% balance transfer fee

Rates and Fees

Understanding credit card rates and fees can help you determine if it’s the right choice. Comparing the fees to the rewards earned can help you see the big picture.

  • Variable APR: The actual APR received varies by the cardholder. The rate charged depends on your credit score, income, and other factors. On average, the USAA Preferred Cash Rewards Credit Card has an APR range of 17.15% – to 29.15%.
  • Balance Transfer Fee: If you transfer a balance to your USAA Preferred Cash Rewards Credit Card, you’ll pay a 5% fee for the amount transferred, increasing your balance.
  • Foreign Transaction Fee: The USAA Preferred Cash Rewards card doesn’t charge foreign transaction fees. This makes it a good card when traveling to save on unnecessary fees.
  • Rewards Rate: Tracking rewards with the USAA Preferred Cash Rewards Credit Card is simple since you earn a flat 1.5% cash back on purchases. There aren’t different category tiers or offers to activate to be eligible for rewards, making this a simple card.
  • Annual Fee: This credit card doesn’t have an annual fee, making it an easy choice, especially if you’re looking for a straightforward card without categories to track.
  • Credit Score Requirement: The credit needed for this card is Good or Excellent.

Eligibility and How To Apply

To apply for the USAA Preferred Cash Rewards Credit Card, you must first be a USAA member and meet certain requirements.

Membership Requirements for USAA

USAA proudly offers membership to current and former military, as well as their spouses and dependents. As a USAA member you can apply for USAA credit cards and insurance, among other benefits.

Application Process

You can apply for the USAA Preferred Cash Rewards Credit Card online. As with all credit cards, you’ll need to provide some personal information, including your name, address, etc. You must also provide employment and income information.

After you submit your application, USAA will pull your credit and evaluate your income to ensure you qualify for the credit card. Some applicants receive answers immediately, and others must wait for an answer in the mail.

Rewards Value

You earn 1.5% cash back for every $1 spent on your USAA Preferred Cash Rewards Credit Card.

You can redeem your points for any of the following, but the value changes frequently, so check the current rates before redeeming:

  • Travel reward to purChase Travel℠ accommodations
  • Merchandise rewards to redeem for specific items
  • Gift card rewards to purchase gift cards to retailers and restaurants
  • Cash reward as a statement credit or direct deposit to your USAA account
  • A charitable contribution to your favorite charity

How The USAA Preferred Cash Rewards Credit Card Compares To Other Cards

Comparing the USAA Preferred Cash Rewards Credit Card with other rewards credit cards can help determine if it’s right for you.

1. Capital One Quicksilver Cash Rewards Credit Card

Like the USAA Preferred Cash Rewards Visa Signature ® Credit Card, the Capital One Quicksilver credit card pays a flat 1.5% cashback on most purchases with no limits.

Unlike the USAA card, though, you can earn a $200 bonus after spending $1,000 on qualifying purchases in the first three months.

The introductory APR on the Capital One card is also for 15 months on purchases, but it includes balance transfers with a 3% balance transfer fee. The regular APR after the introductory period is 19.99% – 29.99%.

2. Bank of America Customized Rewards

The Bank of America Customized Rewards credit card allows cardholders to customize their highest-tier category. You can choose from dining, gas, online shopping, drug stores, home improvement, or travel, earning 3% cashback in your chosen category.

You can also earn 2% cashback on grocery and wholesale club purchases and 1% on everything else. However, there is a $2,500 spending limit on the 3%/2% categories combined quarterly. You can also change your customized category monthly.

The Bank of America Customized Rewards card offers a 0% APR on purchases within the first 15 months and balance transfers within the first 60 days. The regular APR resumes after the introductory period and is 18.24% to 28.24%.

The Bank of America card has a $200 bonus if you meet certain requirements, including spending $1,000 in the first 90 days. The card also has no annual fee.

Who Is The USAA Preferred Cash Rewards Credit Card Best For?

If you want a no-hassle credit card that you know pays cashback on purchases, the USAA Preferred Cash Rewards Credit Card is a good option.

Grant Sabatier is a co-founder and CEO of MMG Media Group, which owns Grant is also the Creator of Millennial Money and Author of the International Bestseller Financial Freedom (Penguin Random House), which has been translated into fifteen languages. Dubbed the “Millennial Millionaire” by CNBC, Grant went from $2.26 to a millionaire in 5 years, reaching financial independence at the age of 30. Grant has been featured in The New York Times, The Washington Post, NPR, BBC, CNBC, Forbes, Business Insider, Money Magazine, The Wall Street Journal, Marketwatch, the Rachael Ray Show, and many others. He cares passionately about sharing his story to inspire others to build a life they love, reminding everyone that time is more valuable than money, and building cool stuff.
Real Estate

How to Pay Your Mortgage With Your Credit Card

Paying your mortgage with your credit card sounds like a great way to earn rewards and stretch your dollars further. But it’s complicated — and not all it’s cracked up to be. Learn if and when you should pay your mortgage with plastic.

Read Now