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What started with 25 Army officers simply trying to take better care of each other, USAA is now one of the best-regarded financial services in the country. Their credit card products, for example, offer both facility and function with competitive rates and fees.
USAA is dedicated to stabilizing the financial well-being of their members, and they have been for the past 90 years. Building a financial services company addressing the needs of military families is not an easy task, so earning such high regard in not only the eyes of their customers but the entire industry is certainly cause to take notice. However, with simple, comprehensive products like the USAA Rewards World MasterCard available to their customers, it is easy to see how they could receive such ratings.
This rewards-based credit card is easy to use. The program is easy to understand and simple to employ. Unlike other complicated programs that provide large seasonal payouts, this card keeps it basic with a consistent earnings rate on all purchases.
- Earn one point on the dollar with every transaction charged to your MasterCard
- Earn 2,500 bonus points with your first qualifying purchase
- There is no limit to the amount of points you can earn
- There is no redemption fee charged when you choose to trade them in, even when you redeem them from your mobile device.
Speaking of rewards points redemption, you may also want to know what, exactly, your points can earn. Fortunately there is a wide variety of things for which you can redeem them:
- Cash rebates
- Gift cards
- Name brand merchandise
- Travel arrangements
Most importantly, you will be pleased to know that this card has very few restrictions. This is especially important when you consider that many cards with travel rewards also have blackout dates that make it difficult to redeem your points.
Interest Rates And Fees
Of course, you will also be curious to know what kind of interest rates you can expect to pay with any credit card you might consider. Well, the simplicity you will find with the rewards program is consistent across the board when it comes to benefits. This card offers:
- Competitive rates on balance transfers, standard purchases, and cash advances
- Interest free financing
- No minimum interest charges
- No annual fee
Immediately you can see that this card has the potential to save you some money. In terms of interest free financing, for example, all you have to do to avoid paying interest is to pay off new balances in full within 25 days of purchase. Also, you will be pleased to learn that there is no annual fee, a feature that is not necessarily all that common in today's market.
Transaction fees, on the other hand are quite common in today's market and this card is no different. However you will still appreciate the same simplicity offered in the rewards program with very simple transaction fees that are easy to understand. Thus you can expect to pay:
- Up to 3% of the Balance Transfer transaction amount
- Up to 3% of the Cash Advance transaction amount
- Up to 1% of the Foreign Currency transaction amount (fee payable in U.S. dollars)
For balance transfers and cash advances, the maximum assessable fee is $200.
Like other credit cards on the market today, the USAA Rewards World MasterCard also charges penalties fees. Obviously, these can easily be avoided if you simply stay on track with your payments. This includes fees of up to $35 for late payments and returned payments. You should note, however, that this card does not charge any fees for exceeding your credit limit, nor does it charge you an excessive penalty APR. These are very important characteristics, particularly in unstable financial times, and especially during an age of extreme credit card reform in which companies are always trying to maximize their fee structure.
If you are looking for a particularly good credit card with simple benefits that are easy to understand, look no further than USAA. This partnership with World MasterCard offers many of the best benefits that military personnel and their families will appreciate. This includes not only a simple rewards program with excellent rewards but also the worldwide acceptance of MasterCard (and a low corresponding foreign transaction fee).
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