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If you're a member of the military, a veteran, or an eligible family member of one, you may know all about USAA Bank already. If not, you should know this financial institution offers financial products and insurance solutions for military members, including various loans, retirement accounts, credit cards, and more.
The USAA Rate Advantage Visa® Platinum Credit Card is one of the card options from USAA that doesn't offer rewards. Instead, this card offers a truly unique 0% intro APR for 15 months on balance transfers and convenience checks that post to your account within 90 days of account opening, then 12.15% - 29.15% variable.
That makes the USAA Rate Advantage Visa® Platinum Credit Card one of the best USAA credit cards if you have high-interest debt to pay down, or if you need to access some cash in the short-term and pay it down without interest for a while. However, you should know upfront that the 0% intro offer does not apply to purchases.
USAA Rate Advantage Visa Platinum Credit Card Review: Is it the Best Card for You?
If you want a credit card that offers rewards for spending, you'll need to look elsewhere. The same is true if you want a credit card with a ton of perks, or one that has 0% APR for purchases for a limited time.
The USAA Rate Advantage Visa® Platinum Credit Card really only has one major benefit, and that's the fact new cardmembers get 0% intro APR for 15 months on balance transfers and convenience checks that post to your account within 90 days of account opening (followed by 12.15% - 29.15% variable). Balance transfers and cash advances also need to be posted to your account before December 31, 2023 for the introductory rates to apply.
Note that a balance transfer fee of 3% applies to your account if you use this card for debt consolidation. A cash advance fee also applies to paper credit card convenience checks, even though you do get the intro APR on funds accessed with these checks for 15 months.
Interestingly, the fine print from USAA says you can get the cash advance fee waived when you transfer cash advance funds electronically to a USAA deposit account.
This is all pretty confusing, and it's worth noting that there are better balance transfers out there without the confusing fees and fine print. As an example, the BankAmericard comes with no annual fee as well as 0% intro APR for the first 21 billing cycles on purchases and balance transfers made within 60 days of account opening (followed by 15.74% - 25.74% Variable).
USAA Rate Advantage Visa Platinum Credit Card Rewards
The USAA Rate Advantage Visa® Platinum Credit Card doesn't offer any rewards, which is another one of its downsides. You'll want to know that some cards with rewards offer better intro APR offers as well.
As an example, the Wells Fargo Active Cash® Card lets cardmembers earn a flat 2% cash back on purchases with no annual fee. Plus, new cardholders can earn a $200 cash rewards bonus after spending $500 in purchases in the first three months from account opening. The card comes with 0% intro APR on purchases and qualifying balance transfers for 15 months from account opening (followed by 20.24%, 25.24%, or 29.99% variable).
USAA Rate Advantage Visa Platinum Credit Card Benefits and Features
The USAA Rate Advantage Visa® Platinum Credit Card is light on benefits, but there are a few perks to be aware of.
0% APR Offer
As we mentioned already, the USAA Rate Advantage Visa® Platinum Credit Card comes with 0% intro APR for 15 months on balance transfers and convenience checks that post to your account within 90 days of account opening (followed by 12.15% - 29.15% variable). Balance transfers and cash advances also need to post to your account before December 31, 2023 for the introductory rates to apply.
This intro APR does not apply to purchases.
Security and Protection
The card comes with some pretty standard security features, including $0 fraud liability, mobile alerts, and the ability to report a lost or stolen card with the USAA app or your online account management page.
Support and Service
This card comes with 24/7 customer support online from USAA, extended warranties on eligible items that come with a manufacturer's warranty and the ability to use your card for payments in a mobile wallet.
Travel Insurance Coverage
A few travel benefits apply when you use this card to pay for travel purchases. However, we wouldn't recommend it since this isn't a travel rewards credit card and it does not offer notable travel benefits (other than insurance coverage).
Either way, the USAA Rate Advantage Visa® Platinum Credit Card comes with auto rental coverage, travel accident insurance, trip cancellation and interruption insurance. and baggage delay coverage and reimbursement.
USAA Rate Advantage Visa Platinum Credit Card Fees and Costs
The USAA Rate Advantage Visa® Platinum Credit Card doesn't charge an annual fee, nor does it charge any foreign transaction fees. You can also get the cash advance fee waived if you automatically transfer funds accessed this way to a USAA bank account.
That said, there are some other fees to be aware of:
- Balance transfer fee: You'll pay a balance transfer fee if you use this card to consolidate debt from other cards.
- Cash advance fee: A cash advance fee applies if you use this card's paper convenience checks or you access cash at an ATM.
- Late payment fee: A late payment fee can apply if you pay your credit card bill after the payment due date.
- Returned payment fee: A returned payment fee can apply if your payment is returned for non-sufficient funds or any other reason.
USAA Rate Advantage Visa Platinum Credit Card vs. BankAmericard Credit Card
If you want to save as much money as possible on interest while consolidating high interest debt from other cards, you'll want the longest intro APR offer you can find. In the meantime, you might also want an intro offer that applies to purchases in case you want to pay down new spending without interest as well.
Either way, the BankAmericard® Credit Card is worth checking out since it comes with no annual fee and 0% intro APR for the first 21 billing cycles on purchases and balance transfers made within 60 days of account opening (followed by 15.74% - 25.74% Variable). Note a balance transfer fee also applies if you use this card to consolidate debt.
Read our BankAmericard review.
USAA Rate Advantage Visa Platinum Card vs. USAA Preferred Cash Rewards Visa Signature Card
If you want a USAA credit card but you want to earn rewards on spending, you'll have to give up the intro APR offer for balance transfers. If you're okay with that, the USAA Preferred Cash Rewards Visa Signature® Credit Card can be a good option since it offers a flat 1.5% cash back on all spending with no annual fee.
Not only that, but this card comes with 0% intro APR for 15 months on purchases (followed by 17.15% - 31.15% variable). That makes this card a solid choice if you want to earn rewards for spending and then pay down purchases interest-free for a limited time.
Read our USAA Preferred Cash Rewards card review.
USAA Rate Advantage Visa Platinum Credit Card vs. Wells Fargo Active Cash Card
The Wells Fargo Active Cash® Card is also worth checking out if you want an intro APR for balance transfers. After all, new cardholders automatically get 0% intro APR on purchases and qualifying balance transfers for 15 months from account opening (followed by 20.24%, 25.24%, or 29.99% variable).
This card also comes with the benefit of an exceptional rewards rate. In fact, members earn 2% cash rewards on purchases and $200 cash rewards bonus after spending $500 in purchases in the first three months from account opening. There's no annual fee for this card, either.
Read our Wells Fargo Active Cash card review.
USAA Rate Advantage Visa Platinum Card Frequently Asked Questions
The USAA Rate Advantage Visa® Platinum Credit Card does have an intro APR offer for balance transfers, but there are better cards out there. We suggest looking at the best balance transfer credit cards that offer 0% APR for balance transfers (and potentially even purchases) for up to 21 months.
The USAA Rate Advantage Visa® Platinum Credit Card does not charge foreign transaction fees.
The USAA Rate Advantage Visa® Platinum Credit Card does not offer any rewards, so you'll want to look elsewhere if you want to earn cash back or other types of rewards. For example, you can consider cash-back credit cards and general rewards credit cards.
The USAA Rate Advantage Visa® Platinum Credit Card charges a fee for cash advances. However, this fee can be waived if you utilize a cash advance online and have the money automatically transferred to a USAA bank account.
You have to meet certain requirements to join USAA and qualify for its financial products. These include being a member of the military, a veteran, a precommissioned officer, or a spouse or child of someone who qualifies.
Why You Should Trust Us: How We Reviewed the USAA Rate Advantage Visa Platinum Card
When evaluating a credit card, we use our credit card rating methodology to assign it a star rating and compare it to other cards. The main factors we look at are the card's welcome bonus, annual fee, rewards rates, options for using rewards, and other benefits and features. Each of these accounts for 20% of the card's total rating.