Great Card If
- You’re a USAA member
- You want to take advantage of the intro reward bonus offer (rates & fees)
- You want to earn no-fuss cash-back
- You don’t want to pay an annual fee (rates & fees)
- You want travel and shopping protections
Don’t Get If
- You’d rather earn points and miles than cash-back
- You sometimes carry a balance on your card
- You want an intro APR on purchases and/or balance transfers
Card Benefits
If you’re looking for a no-fuss cash-back credit card, the USAA Preferred Cash Rewards Visa Signature® Credit Card is a decent option.
It charges no annual fee and earns 1.5% cash-back on purchases. Plus, it offers the following welcome bonus offer:
- Earn a $200 reward bonus when you spend $1,000 on qualifying purchases within 90 days of account opening.
Aside from this, the card has a decent suite of protections for when you’re traveling:
- No foreign transaction fees (rates & fees)
- Baggage delay reimbursement
- Rental car coverage
- Trip cancellation and interruption coverage
- Travel accident insurance
Finally, those who use their card to pay for purchases are entitled to additional protections. This includes cell phone insurance (up to $500), extended warranty coverage, and 90-day purchase protection.
Refer to the credit card benefits guide for the most up-to-date information on all benefits and protections.
Alternative Card Recommendation
If you’re looking for an alternative to the USAA Preferred Cash Rewards Credit Card, you may want to consider the Chase Freedom Unlimited®. Like USAA’s card, the Freedom Unlimited card earns a minimum of 1.5% cash-back on all purchases. However, it also boasts elevated earnings in a few categories:
- 3% back on dining and drugstore purchases
- 5% back on travel booked through the Chase Travel portal
Beyond this, the Freedom Unlimited card doesn’t charge an annual fee. It also sports a 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 19.99% - 28.74%. That’s better than the USAA introductory offer limited to purchases.
Finally, when paired with other credit cards that earn Chase Ultimate Rewards, the cash-back earned by the Freedom Unlimited card can be converted into these highly valuable points. Chase Ultimate Rewards points can then be transferred to any of Chase’s hotel and airline partners.
Should You Get the USAA Preferred Cash Rewards Credit Card?
The USAA Preferred Cash Rewards Credit Card offers strong protections on both travel and purchases while avoiding an annual fee. It also allows you to earn 1.5% cash-back on everything you buy, which can be a nice boon. That said, alternatives such as the Freedom Unlimited card can match or surpass much of what the USAA Preferred Cash Rewards Credit Card offers, so do your homework before applying.
