Low Interest Credit Card for Military Families: USAA Rate Advantage Platinum Visa

By Christina Majaski. Last updated 30 June 2017. 0 comments

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In the world of credit cards, the rewards cards get most of the attention. But when it comes to those who need to carry a balance, rewards cards with their high interest rates are not a suitable option.

Military personnel and families can benefit from the low interest rates and fees the USAA Rate Advantage Platinum Visa® card offers. This is a solid choice if you regularly carry balances month to month and want to save money in interest. (See also: Best Credit Cards for Military Families)

How This Card Works

This is a simple low interest card available to military members, veterans who have received an honorable discharge, and their eligible family members.

Other Benefits

Extended warranty. Extends manufacturer or U.S. store brand warranties for up to one year.

Military benefits. USAA credit cards include special benefits for military members such as a 4% APR for deployment and PCS, and on preexisting balances for one year after you complete active duty. If you serve in a qualified military campaign, you can also qualify for a rebate of finance charges accrued during your service in the campaign.

Car rental insurance. Get coverage for collision damage for your car rentals.

Costs

  • $0 Annual Fee
  • 7.90%-24.90% Variable APR
  • 3% Balance Transfer Fee ($200 maximum)
  • $0 Foreign Transaction Fee

Pros

Low interest rate card. If you have good credit, you can qualify for one of the lowest APRs available on the market. If you carry your balances from month to month rather than pay them off in full each month, it’s important in order to pay the least amount of interest on your purchases, to choose the credit card with the lowest possible APR.

Military benefits. Equally important are the exclusive military benefits offered such as the opportunity for an even lower APR at 4% and reimbursement of finance charges and fees depending on your situation. USAA is one of the few providers of financial products specifically including benefits designed for military personnel and their family members.

No foreign transaction fee. It's important, especially for those who travel abroad, that you are able to use a credit card for your purchases that doesn't charge a foreign transaction fee. This fee can be as much as 3% with other credit cards, which can add up if you need to make purchases outside of the U.S. 

Cons

No rewards. If you can pay off your balance in full each month, you'll benefit from a credit card that offers rewards on your purchases. 

Who This Card Is Best For

The USAA Rate Advantage Platinum Visa is best for members of the military and their families, who typically carry a balance from month to month. If you generally pay your balances in full each month, you have more room to choose a credit card that might charge a higher APR but also provides valuable rewards or extra perks.

Click here to learn more and apply for the USAA Rate Advantage Platinum Visa® card today!

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Low Interest Credit Card for Military Families: USAA Rate Advantage Visa Platinum

 

 


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