Our Verdict
The USAA Rewards™ American Express® Card* offers bonus rewards on everyday spending categories like dining, groceries and gas, but its rewards rates don’t quite measure up to other top everyday credit cards. Its welcome bonus is low, but it does offer a solid balance transfer promotion. The biggest drawback of the card is that it’s only available to eligible USAA members.
Pros
- Earn up to 3 points per dollar on everyday spending
- Introductory 0% APR on balance transfers and convenience checks
- No annual fee
- No foreign transaction fees
Cons
- Low welcome offer
- No introductory 0% APR on purchases
- No transparency about point redemption values
- Requires USAA membership
Highlights
- Earn 3X points per dollar spent on dining
- Earn 2X points per dollar spent on gas and groceries
- Earn 1X points for every dollar spent on all other purchases
- Earn 2,500 bonus points after completing your first purchase
- Redeem points for cash, merchandise, gift cards and more
- No annual fee and no foreign transaction fees
Introduction
The USAA Rewards™ American Express® Card* earns 3 points per dollar spent on dining, 2 points per dollar spent on gas and groceries and 1 point per dollar spent on all other purchases. With no annual fee, that’s a decent set of rewards rates, but depending on how you spend your money, other credit cards may offer more value. The card also offers a welcome bonus, giving you 2,500 bonus points after completing your first purchase — while it’s unclear how much points are worth, the value of the bonus is likely low compared to other rewards credit cards.
New cardholders will enjoy a 0% intro APR on balance transfers for 15 billing cycles from account opening followed by a 15.15% - 31.15% variable APR on purchases and balance transfers, a balance transfer fee of 5% of the amount of each balance transfer applies.
The card also offers some solid travel and shopping protections. But like other USAA products, it’s only available to eligible USAA members, which includes eligible members of the military community and their family members.
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Quick Facts
- Annual fee: $0
- Earn rate: 3 points per dollar spent on dining, 2 points per dollar spent on gas and groceries and 1 point per dollar spent on all other purchases
- Welcome bonus: 2,500 bonus points after completing your first purchase
USAA Rewards™ American Express® Credit Card Rewards
Earning Rewards
As a new cardholder, you’ll earn 2,500 bonus points after completing your first purchase. USAA doesn’t disclose how much points are worth, but with a standard valuation of 1 cent per point, that’s worth just $25. In contrast, many rewards credit cards with no annual fee offer $200 or more in upfront value.
The card also earns 3 points per dollar spent on dining, 2 points per dollar spent on gas and groceries and 1 point per dollar spent on all other purchases. You can accumulate rewards more quickly by spending a lot in the card’s bonus categories. But there are other rewards cards that offer more value on everyday spending.
Also, because it’s likely that the majority of your spending will earn the low base rewards rate, you may also consider a card that offers an elevated flat rewards rate on all of your spending.
Redeeming Rewards
You can redeem points earned with the card in a handful of ways, including:
- Statement credits
- Direct deposit to an eligible USAA account
- Gift cards
- Travel
- Merchandise
- Charitable contributions
While USAA states that the value of your points will depend on the redemption option and which other USAA accounts you have, it doesn’t provide specifics.
Rewards Potential
Forbes Advisor uses data from various government agencies to determine both baseline income and spending averages across various categories. The 70th percentile of wage earners brings in $116,000 annually and has $36,177 in total credit card spending each year.
Using the USAA Rewards™ American Express® Card* as your primary card will result in 53,060 points each year. Here’s how it breaks down:
0% Introductory Rates
The USAA Rewards™ American Express® Card* offers a 0% intro APR on balance transfers for 15 billing cycles from account opening followed by a 15.15% - 31.15% variable APR on purchases and balance transfers, a balance transfer fee of 5% of the amount of each balance transfer applies.
The balance transfer promotion is in line with what you can get with many other rewards cards, but if you need more time to pay off high-interest debt, there are better balance transfer credit cards. Additionally, the card’s balance transfer fee is on the high end of the spectrum—other cards charge as little as 3%.
Unfortunately, the card doesn’t offer an introductory 0% APR on purchases. You may be able to use a convenience check for the same purpose, but each one comes with a fee. A true 0% APR promotion on purchases doesn’t charge an upfront fee.
Other USAA Rewards™ American Express® Credit Card Benefits
- Trip cancellation and interruption insurance. Up to $1,500 per covered person for non-refundable prepaid fares when your trip is canceled or interrupted due to a covered reason.
- Baggage delay reimbursement. Up to $100 per day for up to three days for essentials like clothing and toiletries if your checked baggage is delayed.
- Travel accident insurance. Up to $500,000 in coverage if you experience an accidental death or dismemberment during certain periods of your trip.
- Auto rental collision damage waiver. Up to 31 days of coverage worldwide when you decline the car rental agency’s coverage.
- Cell phone protection. Get up to $500 in coverage against damage or theft when you use your card to pay your phone bill.
- Purchase security. Up to $1,000 in protection against theft or damage of eligible items you purchase for up to 90 days after the purchase date. There’s a maximum of $10,000 in benefits per account.
Fine Print
Interest Rates
- Regular APR: 15.15% - 31.15% Variable
- Purchase intro APR: N/A
- Balance transfer intro APR: 0% intro APR for 15 billing cycles
Fees
- Annual fee: $0
- Balance transfer fee: 5% of the amount of each transfer
- Foreign purchase transaction fee: None
How the USAA Rewards™ American Express® Credit Card Stacks Up
USAA Rewards™ American Express® Card* vs. Blue Cash Everyday® Card from American Express
The Blue Cash Everyday® Card from American Express (terms apply, see rates & fees) is a solid option for popular spending categories. It earns 3% cash back at U.S. supermarkets, U.S. gas stations, and online retail purchases in the U.S. (on up to $6,000 in each category per year in purchases, then 1%), and 1% cash back on other purchases. Cash back is received in the form of Reward Dollars that can be easily redeemed for statement credits or at Amazon.com checkout.
You’ll also earn a $200 statement credit after spending $2,000 on purchases within the first 6 months.
Despite not charging an annual fee, the card offers up to $84 in statement credits each year — or up to $7 per month — when you use your card to subscribe to the Disney+ Bundle. You’ll also get up to $15 per month ($180 annually) toward an auto-renewing HomeChef subscription.
USAA Rewards™ American Express® Card* vs. Capital One SavorOne Cash Rewards Credit Card
Another excellent choice for everyday spending categories is the Capital One SavorOne Cash Rewards Credit Card. The card earns 3% cash back on dining, entertainment, popular streaming services and grocery stores (excluding superstores like Walmart® and Target®), 5% cash back on hotels and rental cars booked through Capital One Travel, 8% cash back on Capital One Entertainment purchases, and 1% on all other purchases (rates & fees).
It also offers a $200 cash bonus after spending $500 on purchases within the first 3 months from account opening. New cardholders can enjoy a 0% intro APR on purchases and balance transfers for 15 months; 19.99% - 29.99% variable APR after that; 3% balance transfer fee for the first 15 months, 4% at a promotional APR that Capital One may offer you.
If you sign up for Uber One, you’ll get your membership fee covered through Nov. 14, 2024, and you’ll also earn 10% back on Uber and Uber Eats purchases during that time. The card has no annual fee.
USAA Rewards™ American Express® Card* vs. Wells Fargo Active Cash® Card
If you prefer the idea of a rewards card that offers a high rewards rate on all of your purchases, consider the Wells Fargo Active Cash® Card. It earns a flat 2% cash rewards on purchases, plus offers a $200 cash rewards bonus after spending $500 in purchases in the first 3 months.
You’ll also get a 0% intro APR for 15 months from account opening on purchases and qualifying balance transfers, then a 20.24%, 25.24%, or 29.99% variable APR applies. Balance transfers made within 120 days qualify for the intro rate and fee of 3% then a fee of up to 5%, with a minimum of $5 applies.
Is the USAA Rewards™ American Express® Credit Card for You?
The USAA Rewards™ American Express® Card* offers decent bonus rewards on popular spending categories. But depending on where you spend most of your money, you may be able to get a better rewards haul with a different card.
You may also want to consider a different card if you want a longer 0% intro APR balance transfer period, a lower balance transfer fee or a 0% intro APR on new purchases.
Finally, the card is only available to USAA members. If you aren’t a member of the military community or don’t have an immediate family member who’s a USAA member, you may not be able to apply at all.
Find the Best Credit Cards for 2024
No single credit card is the best option for every family, every purchase or every budget. We've picked the best credit cards in a way designed to be the most helpful to the widest variety of readers.
Methodology
Forbes Advisor considers a variety of criteria when assigning credit cards a rating. Cards are graded based on numerous factors, including:
- Annual fees
- Welcome bonus offers
- Ongoing earning rates
- Value of individual points or miles
- Included travel or merchant credits
- Additional cardholder benefits
Card features we expect cardholders to use the most often are weighted more heavily in our ratings. Altogether, the factors came together to provide a star rating for each individual card.
Read more: How Forbes Advisor Rates Credit Cards
To view rates and fees for Blue Cash Everyday® Card from American Express please visit this page.
Frequently Asked Questions (FAQs)
Is the USAA Rewards American Express card good?
The card offers some decent benefits, but unless you’re a USAA member who wants to keep all of your financial products and services under the USAA umbrella, you may be able to get more value with a different card.
What credit score is needed for USAA American Express?
USAA doesn’t disclose a minimum credit score requirement for its credit cards. But based on other cards offered by the financial institution, you may be able to get approved with fair, good or excellent credit.
Which USAA card has the highest limit?
According to online reports, the maximum credit limit across all of USAA’s unsecured credit cards is $50,000. Keep in mind, though, that your credit limit will be determined based on your credit history, income, debts and other factors.
*The information for the following card(s) has been collected independently by Forbes Advisor: USAA Rewards™ American Express® Card. The card details on this page have not been reviewed or provided by the card issuer.
