The USAA has a pretty deep range of new credit cards available, but how to you know which one is right for you? In our review of the USAA Cashback Rewards Plus American Express, we will look at all the benefits involved in getting your Cashback Rewards Plus American Express and see how it stacks up to the competition.
Cashback Rewards Plus American Express Review
If you’re doing research on the USAA Cashback Rewards Plus American Express, you’ve probably noticed that the huge draw here is the 5% cashback they offer and any gas and military commissary purchases, and if you’re a USAA member, then you already know that most military base commissary stores carry just about every – and have no tax.
If this 5% cash back is the only reason you’re looking in to getting the Cashback Rewards Plus American Express, then you should also know that the maximum amount of cash back you can get is $3,000 each year. That’s still quite a bit, plus you also get 2% cash back on any supermarket purchases and 1% on all other purchases up to an additional $3,000 every year. That’s a grand total of up to $6,000 in potential cashback every year, which is a huge chunk of change for you everyday spending. Cash back is paid out at the end of annual billing cycles.
As if that weren’t enough, the Cashback Rewards Plus American Express has no APR within the first 18 months and no penalty APR for late payments. The interest rate is variable, but starts at a sweet 4% (one of the lowest around) for active members of the military who are deployed. The Cashback Rewards Plus American Express is available to all active, retired, and honorably separated members of the military, however, for those deployed internationally, there is a 1% foreign transaction fee. Additionally, there is a special rate and extended 0% APR period for all SCRA members.
All things considered, the USAA Cashback Rewards Plus American Express is one of the best new rewards credit cards on the market available to USAA members. The Cashback Rewards Plus American Express is also available to widowers of USAA members.