Nov 19, 2017, 3:57 pm
New USAA 2.5% Limitless Cashback Rewards Visa (targeted USAA members only)
Oct 3, 2016, 4:00 pm
#1
Original Poster
Join Date: Dec 2015
Location: DCA
Posts: 818
New USAA 2.5% Limitless Cashback Rewards Visa (targeted USAA members only)
Folks on Reddit are reporting being targeted for a 2.5% unlimited cash back Visa card. I'm a USAA member but was not targeted. I called them up and they said it will be open to all members "soon" - I pressed for more specifics - "before the end of the year?" and he said he wasn't quite sure it would be ready that quickly. It's in a pilot with "handpicked members" right now to "work out the kinks." He also asked me if I had heard about it through their commercial - apparently there will be a commercial advertising this product, although it seems silly to do that when only a small percentage of current customers can even apply for it. Here are the relevant details from the Reddit thread:
Anyone able to apply for it?
Seems like it's some sort of pilot you can only get within the app. Anyway, I was just approved for this card last night, and it seems like a great way to earn cash back on the purchases that only earn 1% on most cards (2% if you have citi double). Some other details:
-As long as you maintain a $1000 monthly direct deposit into a USAA checking account, you continue to earn 2.5% cashback
-When you do not maintain the required direct deposit, earn 1.5% cashback (instead of 2.5%) on purchases.
-no annual fee
-no signup bonus
-only USAA members are able to apply for USAA credit cards
-As long as you maintain a $1000 monthly direct deposit into a USAA checking account, you continue to earn 2.5% cashback
-When you do not maintain the required direct deposit, earn 1.5% cashback (instead of 2.5%) on purchases.
-no annual fee
-no signup bonus
-only USAA members are able to apply for USAA credit cards
Oct 3, 2016, 4:32 pm
#2
Moderator: Budget Travel forum & Credit Card Programs, FlyerTalk Evangelist
Join Date: Aug 2002
Location: YYJ/YVR and back on Van Isle ....... for now
Programs: UA lifetime MM / *A Gold
Posts: 14,428
Oct 4, 2016, 8:41 am
#4
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,954
On a per point basis, but not when other cards award multiple points per dollar, and not when we earn a new account bonus. Example: 1.5 American Express Membership Rewards points or 1.5 Chase Ultimate Rewards points per dollar are worth more than $0.025 if redeemed at more than $0.0166.
Oct 4, 2016, 10:23 am
#5
Join Date: Jul 2011
Posts: 1,133
On a per point basis, but not when other cards award multiple points per dollar, and not when we earn a new account bonus. Example: 1.5 American Express Membership Rewards points or 1.5 Chase Ultimate Rewards points per dollar are worth more than $0.025 if redeemed at more than $0.0166.
Oct 4, 2016, 11:21 am
#6
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,954
There is no need to carry multiple cards to earn 1.5 MR or UR on all spending. It's exactly the same as using a single cash back card. I am not opposed to 2.5% cash back, just making the narrow point that comparing the value of "a" point is not enough to make an informed decision. (There are also 1.5 mile cards available for United Airlines and Virgin Atlantic.)
Oct 24, 2016, 9:30 am
#8
Join Date: Jul 2011
Posts: 1,133
Dec 7, 2016, 6:17 pm
#10
Join Date: Jan 2010
Location: DCA/RIC
Programs: HH LTD, AA LTG
Posts: 1,015
This would be my default card for anything going forward if it becomes available in VA - minus 5X bonus categories on some other cards, as the FF miles are devalued quite a bit these days.
Don't see that lasting though as it would be a huge loss leader, and USAA is pretty smart about growing business not losing money.
Don't see that lasting though as it would be a huge loss leader, and USAA is pretty smart about growing business not losing money.
Dec 8, 2016, 1:10 am
#11
Join Date: Jul 2015
Location: SEA
Posts: 138
DP: USAA restricts members to a maximum cumulative credit limit of $50k across all USAA credit cards. If you already have an open card or two with USAA and if those cards have high limits, you may need to call customer service if you want to apply for this product. They'll be able to free up available credit for you.
Dec 8, 2016, 11:59 am
#12
Join Date: Sep 2015
Location: flyover country
Posts: 2,435
Thanks for that info, weaseltown.
I was on the phone with USAA about something else and asked about this new card. After playing dumb for a moment and asking me where I had heard about it and what the features were, the rep said it is definitely targeted and not available by request. The rep also said it was under evaluation and might not ever be offered to the members at large.
I was on the phone with USAA about something else and asked about this new card. After playing dumb for a moment and asking me where I had heard about it and what the features were, the rep said it is definitely targeted and not available by request. The rep also said it was under evaluation and might not ever be offered to the members at large.
Feb 7, 2017, 4:00 pm
#13
Join Date: Jan 2008
Location: Georgia
Programs: DL DM/2MM
Posts: 1,036
USAA is more widely available than many people realize. My father-in-law was military. My wife had him sign up for USAA, which made me, my wife, and my children all eligible for membership.
Feb 7, 2017, 4:38 pm
#14
Join Date: Dec 2006
Location: USA
Posts: 3,945
thanks, but that's not going to help my friend who has no military affiliation what so ever.
Mar 9, 2017, 7:40 am
#15
Join Date: Jan 2005
Posts: 154
I've read that people with a "total credit limit" over $50,000 aren't allowed to be approved for this card. What I haven't read is if that means inside of USAA or if that means "in the wider world," and if the latter, whether it's looking only at personal or at personal+business. Anybody know?