The USAA Cash Rewards American Express Card will appeal to consumers with excellent credit looking to maximize their cash back rebate. This credit card gives you the backing of two companies that are known for their superior customer service and excellent financial products.
Cardholders receive the following benefits:
- Concierge service.
- Collision Damage Waiver for rental vehicles.
- Zero liability coverage for lost or stolen cards.
- Emergency travel and roadside assistance.
- Trip cancellation/interruption insurance.
- Travel accident insurance up to $1 million.
Annual Fee: There is no annual fee or minimum finance charge. Payment is due 25 days after the billing cycle closes.
Foreign Transaction Fee: A foreign transaction fee of 1% isn’t bad. While it’s a fair fee, I’d still stick to using this card for stateside transactions if possible.
Rewards Program: Up to 2.25% cash back on gas and grocery purchases, and up to 1.25% for all other purchases. The rewards program on this credit card is tiered and geared towards consumers who dedicate most of their spending on one credit card. Purchases in the gas and grocery categories get an extra 1% rebate each year, which can boost your earnings if you spend a lot in those categories.
While you won’t get the maximum reward amount if you don’t spend at least $17,000 on the card each year, the extra cash bonus makes this rewards program quite interesting. If you spend at least $5,000 on the card each year you will actually be getting a cash back rebate in the range of 1% – 2% (that’s not including an extra 1% on gas and grocery spending).
| If your annual net purchases are: | Your Cash Rewards Rebate will be: |
|---|---|
| $0 to $5,000 | 0.45% of all Annual Net Purchases |
| $5,000 to $10,000 | $22.50 plus 0.85% of all Annual Net Purchases over $5,000 |
| $10,000 to $17,000 | $65 plus 1% of all Annual Net Purchases over $10,000 |
| $17,000 or more | $135 plus 1.25% of all Annual Net Purchases over $17,000 |
The sweet spot to get the highest cash back rebate with this credit card is exactly $17,000 in spending. If you like to pay for everything with one credit card and pay the balance in full every month, you have the opportunity to earn more than 2% cash back each year with the USAA Cash Rewards American Express Card. That makes this card one of the best premium cash back rewards credit cards available for consumers with excellent credit.
Talk to me, Goose.