The USAA credit card interest rate could be anywhere from 11.15% (V) to 30.15% (V), depending on the card and your overall creditworthiness. Some USAA credit cards also offer an introductory balance transfer APR of 0% for 15 months (subject to a 3% fee).
It is worth noting that USAA credit cards are designed specifically for active and former U.S. military servicemembers and their families. Plus, certain USAA cardholders may receive a 4% APR as part of their SCRA or other military benefits. The 4% APR also applies to any account balance you have when you enter active duty until one year after you’re discharged.
USAA uses the same credit card interest rate range for purchases, balance transfers, and cash advances. But you could be assigned different rates from within those ranges for each type of transaction. There is no penalty APR on a USAA credit card.
It’s also good to know that interest on USAA credit cards compounds daily, which is standard for credit cards. In other words, you owe interest both on your original balance and on any interest you’ve already accrued. But you can avoid this by always paying your credit card bill in full and on time.
A USAA credit card cash advance costs 3% of the amount withdrawn, not including interest. That goes for all USAA credit cards. The 3% cost also doesn’t include any fees charged by either the owner of the ATM, or the bank where you withdrew the funds. Plus, a USAA credit card’s cash advance APR could be as high as 30.15% (V), depending on your creditworthiness. Note that cash advance interest starts accruing immediately.… read full answer
It’s important to familiarize yourself with USAA’s terms and conditions regarding cash advances and how the process itself works. After all, cash advances are expensive and could wind up costing you even more than the original amount withdrawn in some cases.
Here is what you should know about USAA cash advances:
Cash advance fee: USAA’s credit card cash advance fee is 3% of the amount withdrawn.
Cash advance APR: USAA’s credit card cash advance APR could be anywhere from 11.15% (V) to 30.15% (V), depending on the card and your overall creditworthiness. Interest begins accruing immediately and compounds daily. You can expect to be charged a higher rate on cash advances than on your purchases.
When is the fee waived: The cash advance fee is waived when you transfer funds electronically from your USAA credit card to your USAA Bank deposit account.
How to get a cash advance: You can do a cash advance with a USAA credit card by making an ATM withdrawal with your account PIN or by using a convenience check. The cost is the same, unless you also have to pay an ATM-owner surcharge. You can request a PIN or convenience checks from USAA.
Cash advance limit: You will be able to withdraw up to the cash advance limit listed on your statement.
Potential credit risk: Frequent cash advances could make you seem like a credit risk. Issuers tend to view these as a sign of irresponsible spending, which may limit your chances of receiving credit line increases, for example.
Things to consider: If you have cash advance and purchase balances on the same credit card, make sure to pay more than just the minimum amount required when your bill comes due. Only amounts above the minimum are applied to the balance with the highest interest rate, which is likely your cash advance balance.
USAA also charges the 3% cash advance fee for cash equivalent transactions. These include money orders, reloadable gift cards, wire transfers, and traveler's checks.
Don’t forget that to make a cash advance in the first place, you’ll have to call USAA at (800) 531-8722 or log in to your online account and request a PIN. You’ll need the PIN to use your card at ATMs. But try to take out cash advances in case of emergencies only. If you do take one, paying off your cash advance as soon as you can will reduce the overall cost.
USAA does not have any credit cards that offer a 0% introductory APR on new purchases. The lowest possible purchase APR on a USAA credit card is 11.15% (V), which means that USAA credit cards are not good for financing new purchases.
USAA® Rewards™ American Express® Card offers 2,500 points after your first purchase. You can earn 3 points per $1 spent on dining, 2 points per $1 spent on gas and groceries, and 1 point per $1 spent on all other purchases. Requires excellent credit or better.
USAA Rewards Visa offers 2,500 points after your first purchase. You can earn 2 points per $1 spent on gas and dining, and 1 point per $1 spent on all other purchases. It has a balance transfers Intro APR of 0% for 15 months. The regular APR is 14.15% - 30.15% (V). The card has a 3% balance transfer fee. Requires good credit or better.
USAA® Rate Advantage Visa Platinum® Card has a 11.15% - 28.15% (V) regular APR, based on creditworthiness. It offers . Requires excellent credit or better.
It is worth noting that USAA credit cards are designed specifically for active and retired military servicemembers and their families. You’re also eligible to apply for a USAA unsecured credit card if you’re a former spouse (who hasn’t remarried), widow, or widower of a USAA member.
In addition, USAA unsecured credit cards offer a 4% APR for qualified active duty servicemembers. This is instead of the 6% rate required by the Servicemembers Civil Relief Act (SCRA). The 4% APR includes charges made on a USAA credit card prior to active duty. You must be on active duty for 30 days before you request the 4% APR, and submit your request within one year of completing active duty.
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