Credit Cards » Credit Card Reviews » USAA Rate Advantage Visa Platinum Card: 2023 Review
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USAA Rate Advantage Visa Platinum Card: 2023 Review

The USAA Rate Advantage Visa Platinum card works great for USAA members and their families who are more interested in low fees and interest rates than rewards.
Author: Baruch Mann (Silvermann)
Baruch Mann (Silvermann)

Writer, Contributor

Experience

Baruch Silvermann is a financial expert, experienced analyst, and founder of The Smart Investor, which helps consumers make better financial decisions.  Silvermann’s areas of expertise include investing, banking, and credit cards. Silvermann has contributed to Yahoo Finance and cited as an authoritative source in financial outlets like Forbes, Business Insider, CNBC Select, CNET, Bankrate, Fox Business, The Street, and more. Aside from being a finance expert, his background includes working as a business and financial analyst. Above all, he is passionate about teaching people how to manage their money and helping millions on their journey to a better financial future.

Review & Fact Check: Baruch Mann (Silvermann)

Baruch Mann (Silvermann)

Financial Expert, The Smart Investor CEO

Experience

Baruch Mann (Silvermann) is a financial expert and founder of The Smart Investor. Above all, he is passionate about teaching people how to manage their money and helping millions on their journey to a better financial future.
Author: Baruch Mann (Silvermann)
Baruch Mann (Silvermann)

Writer, Contributor

Experience

Baruch Silvermann is a financial expert, experienced analyst, and founder of The Smart Investor, which helps consumers make better financial decisions.  Silvermann’s areas of expertise include investing, banking, and credit cards. Silvermann has contributed to Yahoo Finance and cited as an authoritative source in financial outlets like Forbes, Business Insider, CNBC Select, CNET, Bankrate, Fox Business, The Street, and more. Aside from being a finance expert, his background includes working as a business and financial analyst. Above all, he is passionate about teaching people how to manage their money and helping millions on their journey to a better financial future.

Review & Fact Check: Baruch Mann (Silvermann)

Baruch Mann (Silvermann)

Financial Expert, The Smart Investor CEO

Experience

Baruch Mann (Silvermann) is a financial expert and founder of The Smart Investor. Above all, he is passionate about teaching people how to manage their money and helping millions on their journey to a better financial future.

We earn a commission from our partner links on this page. It doesn't affect the integrity of our unbiased, independent editorial staff. Transparency is a core value for us, read our advertiser disclosure and how we make money.

In This Review..

The USAA® Rate Advantage Visa Platinum® Card provides  low interest rates and has no annual fee. Customers with exemplary credit can take advantage of the 11.15% – 28.15% Variable, which is one of the lowest threshold in the marketplace. It’s also important to consider this card as a great way to build credit.

The USAA Rate Advantage Credit Card has one main disadvantage – in spite of it provides great rates and terms – there are no points, cash back or miles rewards. Also, there is no sign up bonus for new cardholders.

USAA® Rate Advantage Visa Platinum® Card

USAA Rate Advantage Visa Platinum Credit Card

Rewards Plan

None

Sign up Bonus

None

0% Intro

None

PROS

CONS

APR

11.15% - 28.15% Variable

Annual Fee

None

Balance Transfer Fee

3%

Credit Requirements

Good – Excellent

The Catch: Not Available To The General Public

United Services Automobile Association (USAA) serves as a credit union for U.S. military veterans and their families. Military families favor USAA over other institutions because it provides excellent customer service, product features, and prices unavailable through banks. The Rate Advantage Visa Platinum Credit Card is another way that USAA says “thank you for your service.”

Any USAA member is immediately eligible to apply, as are their immediate family members. If not already a USAA member, current service members or veterans must open a USAA account before applying. Once the account is open, immediate family members may apply even if the USAA account holder does not.

Students in officer candidate programs like ROTC or OTC are eligible to join USAA and apply for the card. The same applies to adult children of a USAA member who have had an auto or property insurance policy. Widows or widowers of USAA members are also eligible.

Card & Issuer Reputation

  • 3.6/5  on J.D. Power U.S. Credit Card Satisfaction Study 2020

In order to avoid bias based on a small number of reviews, we present only ratings with at least 200 reviews.

Benefits

Let’s take a closer look at the benefits and drawbacks of the USAA Rate Advantage Visa Platinum Card – and whether or not it’s right for your wallet…

The interest rates are tiered according to qualifying factors, allowing customers to get the best available rate for their credit profile. Customers with exemplary credit can take advantage of the 11.15% – 28.15% Variable, which is one of the lowest in the marketplace. It’s also important to consider this card as a great way to build credit.

Those with less than stellar credit scores may not qualify for the lowest rate, but if they qualify for the USAA Rate Advantage Visa Platinum Credit Card, the rate will be far better than most subprime credit cards. 

It can also be a great option for young adults. They can build their credit histories without being burdened with high fees and interest rates.

Traveling can lead to all sorts of hassles. Since USAA members tend to travel, this card comes with travel accident insurance and baggage delay insurance. It’s also a wise move to make major purchases with this card. 

Your items will be covered under the USAA extended warranty program. The card also comes with identity theft support and zero liability for unauthorized purchases, so you know thieves won’t get their hands on your hard-earned money.

This card also utilizes high-tech security features. Customers can opt for logon options that are as secure as they are efficient. These include biometrics, quick logon, cyber code text, and computer recognition.

A no annual fee card is a boon for those with poorer credit histories or who need to establish credit. Annual fees are often $100+ dollars. Those with good credit should avoid annual fees unless it’s a rewards card.

No foreign transaction fees is a great help to service members who travel overseas. Since military members often spend years abroad, this card can provide big savings. It’s also helpful for veterans and their family members who are living or traveling abroad.

Active duty personnel, veterans and their families love to show their pride in the American armed forces. 

Cardholders can choose between many military affiliate designs that show their patriotism and support for the armed forces. Designs are available to show pride for all of the armed services.

Drawbacks

The USAA Rate Advantage Credit Card has one main disadvantage – in spite of it provides great rates and terms – there are no points, cash back or miles rewards. 

In an era where credit card rewards are substantial, customers should have at least one card that provides the rewards that suit their spending habits.

To qualify for the card, you must be an active military member, a veteran who was honorably discharged or an eligible military family member.

The card doesn’t offer a sign-up bonus, a common perk often used to attract customers to a new card. Many cards offer sign-up bonuses as high as $500 once you surpass a certain amount of spending within the first few months. 

Other cards can provide sign-up bonuses in forms other than cash, for example the travel-specific Capital One Venture Rewards Card, which offers a sign-up bonus of 75,000 miles once they spend $4,000 on purchases within 3 months from account opening.

The card also boasts a fair balance transfer fee of 3%.

Is the USAA Visa Platinum Card Right for You?

The USAA Rate Advantage Visa Platinum card works great for USAA members and their families who are more interested in low fees and interest rates than rewards. 

Rewards cards can be helpful, but they require you to spend a certain amount of money in a certain way to fully benefit. If they don’t fit your spending habits, their other fees and interest rates may work against you.

Active duty personnel are very well served with this card, especially since the special interest rate for deployed personnel can save a bundle and make deployment easier. It’s also a great card for overseas use and has the security needed while on deployment. 

With great designs that display military pride, very few fees and one of the lowest interest rates available, the USAA Rate Advantage Visa Platinum is great for USAA members.

Compare The Alternatives

If you're looking for a low interest credit card – the USAA card is definitely a good option, but there are some good alternatives:

Capital-One-Savor-One

chase freedom unlimited card

citi simplicity

Capital One Savor card
Chase Freedom Unlimited® card
Citi Simplicity® Card
Annual Fee
$0
$0
$0
Rewards
1% – 3% earn unlimited 3% cash back on dining, entertainment, popular streaming services and grocery store purchases (excluding superstores like Walmart® and Target®), 1 percent on all other purchases.
1.5% – 5% 5% on travel purchased through Chase Ultimate Rewards, 3% on dining at restaurants, including takeout and eligible delivery services, 3% on drugstore purchases and 1.5% cash back on all purchases
None None
Welcome bonus
$200 $200 cash bonus once you spend $500 on purchases within the first 3 months from account opening
Up to $300 additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year)- worth up to $300 cash back
None None
Foreign Transaction Fee
None
3%
3%
Purchase APR
19.99% – 29.99% variable
20.24%–28.99% variable
19.24% – 29.99% (Variable)

Review No Annual Fees Credit Cards

Baruch Mann (Silvermann)

Baruch Mann (Silvermann)

Baruch Silvermann is a financial expert, experienced analyst, and founder of The Smart Investor, which helps consumers make better financial decisions.  Silvermann's areas of expertise include investing, banking, and credit cards. Silvermann has contributed to Yahoo Finance and cited as an authoritative source in financial outlets like Forbes, Business Insider, CNBC Select, CNET, Bankrate, Fox Business, The Street, and more. Aside from being a finance expert, his background includes working as a business and financial analyst. Above all, he is passionate about teaching people how to manage their money and helping millions on their journey to a better financial future.
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Top Offers From Our Partners

capital-one-venture

Rewards Plan:
2X 2X miles per dollar on every purchase, plus 5X miles on hotels and rental cars booked through Capital One Travel
Welcome Bonus: 75,000 miles 75,000 miles once they spend $4,000 on purchases within 3 months from account opening

Bank of America® travel rewards

Rewards Plan:
1.5X 1.5 points for every $1 you spend on all purchases everywhere, every time and no expiration on points
Welcome Bonus:25,000 points 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening – which can be redeemed for a $250 statement credit toward travel purchases

chase_sapphire_preffered

Rewards Plan:
2X – 5X 5x total points on travel purchased through Chase Ultimate Rewards, 3x points on dining and online grocery purchases and 2x on other travel purchases. Plus, earn 1 point per dollar spent on all other purchases
Welcome Bonus: 60,000 points 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening

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The product offers that appear on this site are from companies from which this website receives compensation. 

Table of Contents

Editorial Note: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.

Credit Card Reviews Methodology

In order to determine the best possible credit cards, we look at things like fees, interest rates and rewards. We do this with companies that are associated with us as partners as well as other offerings. From there, we make a decision about what the best card is related to different categories and needs. We focus on interest rate cost & fees, especially the cost of carrying a balance, rewards – cards accumulate rewards in different currencies—points, miles, cash back—and their values vary widely usability – cards that accept a wide range of credit profiles and offer simple solutions for things like checking your credit score or contacting. We also consider customer reviews.

We look at cards related to good or excellent credit ratings that will then provide a range of different benefits and improvements for someone who has these scores. We also look at low fees when it comes to those who have lower credit scores.