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usaa rate advantage platinum review

USAA Rate Advantage Platinum Review: Low Rates for Military Families

Being able to find a credit card with a reasonable APR is something that can really benefit you. If you have a card that keeps the interest fairly low, then it makes it that much easier to pay down your debt. Getting access to a low APR can definitely make a difference for your finances, so it makes sense to seek one out if you are in need. The USAA Rate Advantage Platinum Visa Card is one that has a very low APR for a credit card in this class.

 

That being said, this is a USAA card that is only available to those who are members of the military, former members of the military who were honorably discharged, and adult children of USAA members. You have to meet the qualifications for this credit card in order to be able to take advantage of its benefits. If you do meet the criteria, then this might be a very good option to consider. The low APR can certainly be an advantageous thing, but is it really worth your time?

 

Join us as we take a deep look into this credit card to see what it has to offer you. You will learn the little details about the card that will help you to figure out if this is a worthwhile card to put in your wallet or if it is better off left alone. Being able to come to your own conclusions is important, so take the time to read everything that you can about this card.

 

USAA Rate Advantage Platinum

Introductory Offer:

No intro offer

Rewards:

No rewards are earned

Benefits:

USAA's lowest rate card.
Special deployment APR.
No foreign transaction fees.
No penalty APR.

Annual Fee:

No annual fee.

Our Thoughts:

If you have to keep a balance this card has good rates. It also has benefits for military personnel who get deployed.
LEARN MORE >>

 

USAA Rate Advantage Platinum Credit Card Fees

One of the first things that most people want to know about when looking into a credit card is the fees. You will not need to worry about paying any type of an annual fee when you sign up for this credit card. This allows you to feel a little better about applying for the card, as you know that it won't come with a big price attached to it. This credit card manages to keep fees pretty low elsewhere, as well.

 

The balance transfer fee on this credit card is set at 3% with a maximum of $200.00. The cash advance fee is also set at 3% with a $200.00 maximum, and this is pretty typical. These fees are pretty standard, and they definitely won't get in the way. You may want to transfer a balance to this card, too, to take advantage of its low APR.

 

You will not have to worry about foreign transaction fees when using this credit card, either. Many military families and military members, in general, have to travel outside of the country often. Some are even stationed on bases that are placed in different countries. Not having to worry about pesky foreign transaction fees is certainly a good thing, and it will save you money if you travel abroad often.

 

Many cards like this offer some type of introductory APR rate, but this one actually does not. It may be a bit disappointing that you will not receive an extra special APR rate at the beginning of signing up. Even though this may be a bit of a downer, the normal APR rate is pretty excellent. This is the lowest APR credit card that is offered by USAA, and it is something that you can certainly take advantage of.

 

The only other fees that you will have to worry about are late payment or returned payment fees. These fees are both set at $35.00. This is not too high of a fee and should be seen as very reasonable overall. You will not have to deal with a penalty APR either, so late payment won't be as devastating as it could be with many other credit cards.

 

Features of the USAA Rate Advantage Platinum

Honestly, the biggest feature of this credit card is the fact that it has a low APR. That is the main draw to this card, and it will be the determining factor of whether or not you want to sign up. There are some other features and benefits that will help to accentuate the usefulness of this card, but the APR is the main feature. Knowing this, you will want to consider this card if you need a low APR credit card option.

 

You should expect a very good overall customer service experience when you sign up for this card. It has a robust customer service setup that makes dealing with any problems very simple. You will be able to contact customer service over the phone as normal whenever you are having problems. You can also reach out to customer service through the use of an online chat, and customer service will be available 24/7.

 

The security benefits of the card are very good overall, too. As you might expect, this card is going to come with the built-in chip technology. Chip credit cards have become more and more prevalent over time. The card that you will receive from USAA is completely chip-enabled, which allows you to stay more secure when you use your credit card.

 

Also, this credit card does have a nice zero liability feature when it comes to identity fraud. If your card is stolen and used without your permission, then you will not be held accountable for those purchases. It will be easy for you to feel more protected knowing this. Lost credit cards will not be quite as worrying when you know that things will be okay if the card does manage to get used by someone unscrupulous.

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Benefits of the USAA Rate Advantage Platinum

You can expect several benefits when signing up for this credit card. One of the more useful benefits that people will use consistently is the car rental insurance. Your credit card is going to be capable of providing you with secondary car rental coverage that can come in handy. It makes your travel experience around the world that much simpler.

 

It also comes with automatic travel accident insurance. So long as you use your credit card to book your travel, you will be able to take advantage of this convenient insurance. You will receive insurance on your baggage, as well, which will help you in the event of a baggage delay or lost luggage. This is a good card to have for people who travel and need some extra protection.

 

Another neat benefit that you will like is the warranty extension perk. Many items that you buy using this credit card will have the warranty extended by one year. This is an easy perk to take advantage of, and it will certainly benefit you to have items under warranty for a longer period of time. It makes it advantageous to buy items using the credit card.

 

The huge benefit that you will want to know about is the special APR that is given out when military members are on active duty. You can expect an even lower APR when you are sent out on active duty. The APR of this card is already low, but being able to have it creep even lower can be quite helpful. Remember that this handy feature is there to help you when you are being deployed.

 

Rewards Program Info

One of the biggest letdowns when it comes to this credit card is that it does not offer any type of rewards. This is simply a credit card with a low APR that you can take advantage of. If you like being able to earn rewards for your purchases, then you will probably walk away from this card feeling a bit disappointed. You cannot earn any type of rewards points or bonus miles by using this card regularly.

 

Even without the rewards program, this card does have a good amount of appeal. If you want a credit card that keeps the interest low while being easy to use, then this is it. If you require more lucrative rewards from your credit card experience, then you should turn elsewhere. It just comes down to understanding that this is not that type of credit card.

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The Pros

  • Low standard APR
  • Special active duty APR
  • Helpful benefits
  • Low fees

 

The low standard APR of this credit card is going to be the main reason that people will sign up. Having a credit card that allows you to keep the interest low is going to be very handy. You want to be able to pay down your debt as fast as possible, and this credit card makes it simpler. It is most definitely the primary benefit of signing up for this card.

 

Being able to take advantage of the active duty special APR is going to be great, too. If you are going into active duty, then you can expect an even lower APR than normal. It can make it very simple to pay things down quickly and will really help out military families. It is a good benefit that you will definitely love if you can make use of it.

 

The helpful benefits of this card are going to really appeal to a lot of people, too. Being able to enjoy special travel insurance and car rental coverage is a useful benefit. Combine this with warranty extension and various other small perks to get a very positive experience overall. This card proves itself to be pretty useful in the benefits department.

 

Lastly, low fees are certainly a great thing. You will not have to pay out an annual fee when you make use of this credit card. Foreign transaction fees are also something that you will not have to worry about. Other fees, such as balance transfer and cash advance fees, are kept fairly low. This is a cost-effective credit card to make use of, and it will prove to be practical for most military members.

 

The Cons

  • No introductory APR
  • No signup bonus
  • It does not earn rewards

 

There are some people who will feel that this credit card does not quite offer enough. If you are used to signing up for credit cards with an introductory APR period, then you should know that you will not be getting that here. This has no special introductory APR of any kind. The standard APR is quite low for cards of this type, though.

 

You will also need to note that there is no sign-up bonus to speak of. Some credit cards offer small rewards for people who sign up for the card. You will not be receiving any gift cards or any type of opportunity to earn cash back rewards. This is more of a no-frills credit card experience that is not focused on things like that.

 

In fact, this credit card has no rewards to speak of whatsoever. You will not be able to use this as a rewards card in any way. You cannot earn points or miles with this credit card, and that may wind up being a disappointment to some. If you wish to earn rewards points for using your credit card, then you will want to look into one of the many rewards card options on the market instead.

 

This credit card is simply about practicality, and that may harm its appeal when it comes to some people. It does not offer as many extras as some people may like. You need to use this card as a low APR card that can help you to keep your credit card debt low. Otherwise, you are likely to be disappointed about the lack of special rewards options or other bells and whistles.

usaa rate advantage platinum card

 

Credit Score Needed for Approval

You will need to have a pretty good credit score to get approved for this card. Most credit scores that are toward the higher 600's will gain approval. Other factors such as your income will be considered as well, of course. In order to ensure that things go well, it might be a good idea to check your credit score ahead of time to make sure that your score is in the right range.

 

Who Does the USAA Rate Advantage Platinum Card Appeal To Most?

This is a credit card that is going to appeal to people who want to have a low interest rate. If you are looking to keep your debt down and avoid paying on things for too long due to interest, then this card will work out well. The biggest thing that this card can offer you is the stellar APR that will be agreeable to anybody. It has some nice benefits, too, but the APR is what draws people toward this card.

 

Of course, the military connection of this card is going to make it so that it appeals to military families. If you are a military officer, an honorably discharged veteran, of the adult child of a USAA member, then you will be able to take advantage of this card very nicely. It will be a good card to help you to pay down debt, which makes it an option that many people should seriously look into. If you want to cut down credit card debt, then a low APR card like this has many practical uses.

 

An Alternative Card to Consider

One excellent credit card to consider as an alternative is the Wells Fargo Platinum Visa Credit Card. This is a credit card that has a pretty low APR overall. Depending on how good your credit score is, this credit card can actually have an APR that is comparable to the USAA Rate Advantage Platinum Visa Card, or it may even be slightly lower. It depends on various factors, but it can certainly match up quite well.

Travel Freedom Card Art Size

See our full review of the Wells Fargo Platinum.

 

Aside from this, you do not need to worry about having a military connection to get the Wells Fargo Platinum Visa Credit Card. This makes it a more practical option that will appeal to a wider group of people. If you do have the military connection, then the USAA card may be better in certain ways. Just keep in mind that this card from Wells Fargo has an introductory APR that will allow you to avoid interest on purchases and balance transfers for an 18-month period. It may be a better choice, even if simply due to the introductory APR being present.

Learn more about how to apply.

 

Decision Time: Do You Need the USAA Rate Advantage Platinum Card?

The USAA Rate Advantage Platinum Visa card is a good option for certain people. Some are not going to find it to be a perfect fit due to its lack of rewards options. If you care about earning rewards and other similar extra features, then this card may not be for you. This card will be the perfect fit if you simply wish to find a card that offers you a low standard APR.

 

If you have the right military connections and are able to sign up for this credit card, then you will likely be able to make good use of this card. The low APR makes it easy to pay off items on this card without paying out more than you have to. If you need to carry a balance on this card, it makes it easier to pay things down over time. Keep this in mind as an option if you need a solid card with one of the lowest possible APRs of any credit card.

 

USAA Rate Advantage Platinum

Introductory Offer:

No intro offer

Rewards:

No rewards are earned

Benefits:

USAA's lowest rate card.
Special deployment APR.
No foreign transaction fees.
No penalty APR.

Annual Fee:

No annual fee.

Our Thoughts:

If you have to keep a balance this card has good rates. It also has benefits for military personnel who get deployed.
LEARN MORE >>

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