| Low Interest Rating: | 3 / 5 |
| Rates, Fees, Penalties: | 2.9 |
| Rewards: | 0.0 |
| Features: | 3.0 |
| Customer Experience | 5.0 |
In a Nutshell:
The USAA Rate Advantage Visa Platinum card offers a low APR that is hard to beat, but it lacks a zero percent introductory offer, and the card is not available to the general public. This offer is no longer available on our site.
Information about this card has been collected independently by CreditCards.com. The issuer did not provide the content, nor is it responsible for its accuracy.
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Other Notable Features: No foreign transaction fee, car rental insurance, extended warranty, return protection, satisfaction guarantee coverage, worldwide automatic travel accident insurance, baggage-delay insurance, identity theft services, military campaign benefit
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The USAA Rate Advantage Visa Platinum Card has a lot going for it. It offers one of the lowest interest rates in the industry; no annual fee; low foreign transaction fee; no penalty APR; and no over-the-credit-limit fee. It also has some excellent travel benefits, of the type usually reserved for premium cards. However, it’s biggest drawback is the lack of a 0 percent introductory offer for new and transferred balances.
Also, like other USAA cards, the USAA Rate Advantage Visa Platinum Card is only available to eligible armed forces members and honorably discharged veterans – and their families – and some individuals with certain types of military connections.
Low variable APR
The card offers an APR as low as 6.90 percent (variable), which is exceptional even among low interest rate cards. Remember, however, that this low rate is reserved for cardholders with excellent credit. The rate can be as high as 23.90 percent (variable) depending on your credit rating.
Low fees
The fees on this card are very reasonable. There’s no annual fee, penalty APR or over-the-credit-limit fee, and the card doesn’t charge a foreign transaction fee, which makes it a great card for overseas travel. The balance transfer rate is 3 percent, which is better than average, plus the card caps balance transfer fees at $200. Even better, this fee is waived when transferring funds electronically to a USAA deposit account. Note, however, that there is no zero percent or even reduced introductory APR offer, so this is not an ideal card for debt consolidation.
No 0 percent introductory offer
The lack of 0 percent introductory offer is the main reason that we don’t rate the value of this card higher. Though the APR on this card is excellent and the fees are low, cardholders seeking to transfer a balance or carry a balance over a few years could save hundreds of additional dollars with a card that offers a zero percent APR for 12 months or longer.
No rewards
USAA Rate Advantage Platinum doesn’t offer a rewards program, which is a compromise for getting such a low APR. While you can find other low interest rate cards that offer rewards, you are unlikely to find an APR this low.
Why get the USAA Rate Advantage Visa Platinum Card?
- You carry a balance on a permanent or semi-permanent basis and want the lowest APR you can get.
- You are not interested in debt consolidation.
- You don’t care about rewards points or cash back.
- You want to do business with one of the top military-friendly banks.
How to use the USAA Rate Advantage Visa Platinum Card:
- Pay more than just the minimum. Don’t let the low interest rate trick you into paying off less than you can.
- In order to be eligible for travel benefits, such as baggage-delay insurance or accident insurance, you must use the card to buy a ticket.
Is the USAA Rate Advantage Visa Platinum Card worth it?
The USAA Rate Advantage Visa Platinum Card lives up to its name, offering a very low APR to qualifying cardholders and low fees across the board. If you have good credit but almost always carry a balance, this card’s terrific low-end APR makes it a great fit. If you’re looking to consolidate and pay down debt, however, you’d be better off with a card that offers a zero percent introductory APR.
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