"Great Card, Perfect Company"
USAA® Rewards™ American Express® Card Review
Written by: finance globe on 2010-03-06
Overall Satisfaction
Customer Service
Rewards
Account Management
Delivery Time
finance globe's review: 
I applied for this card on-line via a pre-approved offer about 3 years ago. I received a no-preset spending limit and was approved on the spot. My credit scores averaged around 740.
There is no annual fee, and my APR has stayed at a consistent 9% for 3 years!
Rewards are nice. Currently, I get one point per dollar spent. They can be redeemed for merchandise, charity, travel or cash back to your account statement, which in my opinion is the best deal. Merchandise seems to be marked higher than listed on sites like Amazon. So you could get the cash back and then buy it elsewhere for a better price.
Account management is fast and easy, as with all USAA's services. Wonderful product!
I applied for this card on-line via a pre-approved offer about 3 years ago. I received a no-preset spending limit and was approved on the spot. My credit scores averaged around 740.There is no annual fee, and my APR has stayed at a consistent 9% for 3 years!
Rewards are nice. Currently, I get one point per dollar spent. They can be redeemed for merchandise, charity, travel or cash back to your account statement, which in my opinion is the best deal. Merchandise seems to be marked higher than listed on sites like Amazon. So you could get the cash back and then buy it elsewhere for a better price.
Account management is fast and easy, as with all USAA's services. Wonderful product!
9 Comments
Comment 1 by colonative
Re: Great Card, Perfect Company 
on 2010-03-06
They are the best and our servicemen and women deserve the best.
Great card and flexible rewards!
on 2010-03-06 They are the best and our servicemen and women deserve the best.Great card and flexible rewards!
Comment 2 by kdb030609
Re: Great Card, Perfect Company on 2010-03-06
USAA is a great bank ! What was your Credit Limit at the time of approval ? Also has the account grown with you ? Have they initiated any CLI's or did you have to ask ?
on 2010-03-06 USAA is a great bank ! What was your Credit Limit at the time of approval ? Also has the account grown with you ? Have they initiated any CLI's or did you have to ask ?
Comment 3 by thomas1
Re: Great Card, Perfect Company on 2010-03-06
I don't think there's a credit limit on this card. No pre-set means no definite revolving line. Similar to Amex itself, spending limit is based on payment history, credit history, and purchase patterns.
If anything like Amex, there is an actual "ceiling" in which you can purchase up to, depending on your history, etc. Anything over that set amount usually has to be approved prior, or over the phone and due immediately.
This is a card for those with excellent credit scores, and clean bureaus.
Excellent bank, like Colo said, our servicemen and women deserve the best.
on 2010-03-06 I don't think there's a credit limit on this card. No pre-set means no definite revolving line. Similar to Amex itself, spending limit is based on payment history, credit history, and purchase patterns.If anything like Amex, there is an actual "ceiling" in which you can purchase up to, depending on your history, etc. Anything over that set amount usually has to be approved prior, or over the phone and due immediately.
This is a card for those with excellent credit scores, and clean bureaus.
Excellent bank, like Colo said, our servicemen and women deserve the best.
Comment 4 by wanderer
Re: Great Card, Perfect Company on 2010-03-07
The USAA American Express Card is one card you "don't leave home without it"... It is great to know there are still banks that have great products and help our friends in arms. As a member of USAA I am proud to serve. Congratulations on having this card.
on 2010-03-07 The USAA American Express Card is one card you "don't leave home without it"... It is great to know there are still banks that have great products and help our friends in arms. As a member of USAA I am proud to serve. Congratulations on having this card.
Comment 5 by finance globe
Re: Great Card, Perfect Company on 2010-03-07
Thanks for your comments everyone. The no preset cap seems to sit at 25,000 but does adjust to spending habits. I don't come close to that, but from my understanding, if I were to make a large purchase exceeding that, I could make a call beforehand to request an on the spot authorization.
on 2010-03-07 Thanks for your comments everyone. The no preset cap seems to sit at 25,000 but does adjust to spending habits. I don't come close to that, but from my understanding, if I were to make a large purchase exceeding that, I could make a call beforehand to request an on the spot authorization.
Comment 6 by kdb030609
Re: Great Card, Perfect Company on 2010-03-07
The reason I asked about the limit before. Is my girlfriend has a USAA American Express card with a $3500 limit. She has had it just over a year now. USAA seems like a good company to do business with.
on 2010-03-07 The reason I asked about the limit before. Is my girlfriend has a USAA American Express card with a $3500 limit. She has had it just over a year now. USAA seems like a good company to do business with.
Comment 7 by finance globe
Re: Great Card, Perfect Company on 2010-03-08
No problem. Make sure she keeps it! I believe my account was approved with a 25,000 limit, but categorized as a no preset limit.
Update: I just noticed that my APR is now 7.75%, not 9%, and rewards are now 1.25 points per dollar spent.
on 2010-03-08 No problem. Make sure she keeps it! I believe my account was approved with a 25,000 limit, but categorized as a no preset limit.Update: I just noticed that my APR is now 7.75%, not 9%, and rewards are now 1.25 points per dollar spent.
Comment 8 by finance globe
Re: Great Card, Perfect Company on 2020-10-08
An update... After years of use, this March during the economic downturn, USAA cancelled my card due to business transactions. I advertise with Google Ads and similar expense. Have done this for years, then I get this. Very very disappointed with USAA!!!
on 2020-10-08 An update... After years of use, this March during the economic downturn, USAA cancelled my card due to business transactions. I advertise with Google Ads and similar expense. Have done this for years, then I get this. Very very disappointed with USAA!!!
Comment 9 by wanderer
Re: Great Card, Perfect Company on 2020-11-22
Oh, sorry to hear this! Never heard of USAA closing accounts like many other financials. Assume you contacted them about a reinstatement? Suspect business on a personal use?! Must be a factor of the times. Glad you reported this. Know that with another lender I have been very careful to keep the business use separate from personal use as they are not being flexible and may be looking for any reason to close an account?.
on 2020-11-22 Oh, sorry to hear this! Never heard of USAA closing accounts like many other financials. Assume you contacted them about a reinstatement? Suspect business on a personal use?! Must be a factor of the times. Glad you reported this. Know that with another lender I have been very careful to keep the business use separate from personal use as they are not being flexible and may be looking for any reason to close an account?.
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Disclaimer: This content is not provided by USAA Savings Bank. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by USAA Savings Bank. Review content is powered by Finance Globe.
