The USAA® Rewards™ American Express® Card doesn’t charge an annual fee and has great value for those who spend a lot in the categories where it gives the highest rewards. It gives three points for every dollar spent on dining, gas and groceries earn two points per dollar, and other eligible transactions earn one point. Because of its fee-free foreign transactions, you can continue to earn while abroad. MoneyGeek's USAA® Rewards™ American Express® Card review covers the card's perks, drawbacks and other features to help you decide if it's the best fit for you.
MoneyGeek’s Take
USAA® Rewards™ American Express® Card Review
Updated: November 4, 2024
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USAA® Rewards™ American Express® Card
On Issuer's Site
Rewards Rate
Earn 3X points on dining, 2X points on groceries a...Annual Fee
$0Balance Transfer Offer
0% Introductory APR through your February 2026 bil...Recommended Credit
670-850 (Good to Excellent)Moneygeek.com credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application.
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USAA® Rewards™ American Express® Card Overview
The USAA® Rewards™ American Express® Card gives you points for every dollar spent, plus a bonus after your first qualifying purchase. You can earn one point per dollar of a purchase or double or triple the amount in bonus categories. Redeeming awards is easy, and there are many choices, including cash.
Quick Take
- No annual or foreign transaction fees
- 0% APR offer on balance transfers and convenience checks for the first 15 months, then a variable APR of 15.15% – 29.15% after that
- Balance transfers and checks need to post to your account in the first 90 days for the 0% APR offer to apply
- 3% balance transfer fees
- Earn 3x points per dollar on dining
- Earn 2x points per dollar on groceries and gas
- Earn 1x point per dollar on all other purchases
- Earn 2,500 points after making your first qualifying purchase
- Redeem points for cash, airline or cruise tickets, merchandise, to make a charitable contribution or for gift cards
- Complimentary travel accident insurance, auto rental coverage, baggage delay and reimbursement, and trip cancellation and interruption coverage
- Zero liability
- Extended warranty
- Access to a concierge service
Important Card Details
You must understand the benefits, fees, rates and other features associated with any credit card. Plus, know your rights as a credit card user. MoneyGeek covered the fine print details to help you evaluate whether theUSAA® Rewards™ American Express® Card is good for you.
Annual Fee
There is no annual fee with the USAA Rewards American Express credit card.
Foreign Transaction Fee
The card charges no fees for international transactions.
Rewards Rate
Each qualifying purchase made with this card gets you a minimum of one reward point per dollar, up to a maximum of three points, depending on the purchase category.
Regular APR
The APR on purchases, balance transfers and cash advances ranges from 15.15% – 29.15%, based on your creditworthiness. The APR fluctuates in accordance with the market's prime rate.
Introductory APR for Balance Transfers and Convenience Checks
The APR on balance transfers and convenience checks is waived for the first 15 months for new cardholders if you post the transaction to your account within the first 90 days.
Balance Transfer and Cash Advance Fees
There is a 3% balance transfer or cash advance fee of the transaction amount.
Penalty Fee for Late or Returned Payments
You pay a fee of up to $35 for late or returned payments. The first late payment within six billing periods has a $25 late fee, and subsequent late payments get a $35 late fee.
Additional Benefits
There are other benefits of the USAA® Rewards™ American Express® Card that you may be interested in learning about aside from the rewards points.
How the USAA® Rewards™ American Express® Card Compares To Other Cards
Although the USAA® Rewards™ American Express® Card's zero annual fee and significant rewards rates in specific categories did not make it one of the best-reviewed rewards cards, it did compare favorably to the majority of other cards. But you may find a higher reward rate on all purchases with another card.
How the USAA® Rewards™ American Express® Card Compares
USAA® Rewards™ American Express® Card
- Annual fee: None
- Regular APR: 15.15% – 29.15% variable
- Rewards rate: 1–3 points per dollar
- Foreign transaction fee: None
- Best for: Military members looking for a no-annual-fee card with significant rewards in categories they spend money in often
Capital One Quicksilver Cash Rewards Credit Card
- Annual fee: None
- Regular APR: 19.99% – 29.99% variable
- Rewards rate: 1.5%
- International transaction fee: None
- Best for: Minimalist shoppers who want cash back for daily spending
Frequently Asked Questions
What is the average credit score needed to get approved for the USAA® Rewards™ American Express® Card?
The required credit score is not readily available for the USAA® Rewards™ American Express® Card. But, a good or excellent credit score is likely needed to get approved.
Does the USAA® Rewards™ American Express® Card report to all three credit bureaus?
Yes, the USAA® Rewards™ American Express® Card reports to Experian, Equifax and TransUnion.
Is theUSAA® Rewards™ American Express® Card application process lengthy? Can you prequalify?
To be eligible for the USAA® Rewards™ American Express® Card, you must be an active or retired service member or a family member. The USAA® Rewards™ American Express® Card application process also involves being a USAA member and submitting details about your military service, which takes a few minutes to complete.
What information is needed to apply for the USAA® Rewards™ American Express® Card?
Firstly, you need to become a member of USAA and enter details about your military service, plus submit personal details, your Social Security number and income details.
Does the USAA® Rewards™ American Express® Card have a mobile app or the option to pay or manage your account online?
Yes, USAA offers a mobile app for managing the Rewards American Express card account for iOS and Android customers in addition to an online account. Using the app and online portal, you can make payments, block or unblock your card, examine your statements, sign up for alerts and contact USAA customer service.
Does the USAA® Rewards™ American Express® Card raise credit limits automatically or charge for limit increases?
No. You must submit a request for a USAA® Rewards™ American Express® Card credit limit increase via your USAA online account. The company considers account performance, credit bureau information, income before taxes and existing debt or obligations to determine whether to increase a credit limit.
Does the USAA® Rewards™ American Express® Card offer the option to freeze your credit/account or have other security features?
USAA offers the option to freeze or lock your credit card or credit account if you find your card is lost or stolen. You can do this through the online portal or mobile app. The card also has zero liability protection.
Does USAA Savings Bank offer other credit cards besides the USAA® Rewards™ American Express® Card?
USAA offers other credit cards like the Rewards Visa Signature Card, Cashback Rewards Plus American Express, Preferred Cash Rewards Visa Signature and Rate Advantage Visa Platinum card.
About Doug Milnes, CFA
Doug Milnes is a CFA charter holder with over 10 years of experience in corporate finance and the Head of Credit Cards at MoneyGeek. Formerly, he performed valuations for Duff and Phelps and financial planning and analysis for various companies. His analysis has been cited by U.S. News and World Report, The Hill, the Los Angeles Times, The New York Times and many other outlets.
Milnes holds a master’s degree in data science from Northwestern University. He geeks out on helping people feel on top of their credit card use, from managing debt to optimizing rewards.
*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available.
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Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity. Learn more about our editorial policies and expert editorial team.
Advertiser Disclosure: MoneyGeek has partnered with CardRatings.com and CreditCards.com for our coverage of credit card products. MoneyGeek, CardRatings and CreditCards.com may receive a commission from card issuers. To ensure thorough comparisons and reviews, MoneyGeek features products from both paid partners and unaffiliated card issuers that are not paid partners.