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Both the USAA® Preferred Cash Rewards Visa Signature® Card and the USAA® Cashback Rewards Plus American Express® Card offer enticing cash back rewards without the burden of annual fees, making them strong contenders for your wallet. But the USAA Preferred Cash Rewards stands out with its straightforward unlimited 1.5% cash back on all purchases, which may tip the scales if you’re seeking simplicity in rewards.
While the USAA Cashback Rewards Plus card's higher cash back rates in specific categories are notable, the versatility of the Preferred Cash Rewards card's flat-rate cash back can be more beneficial overall. Despite this, the Cashback Rewards Plus card's lack of a balance transfer fee and its targeted bonus categories still make it a card worth considering, especially if you frequently spend at gas stations and grocery stores.
USAA® Preferred Cash Rewards Visa Signature® Card
USAA® Cashback Rewards Plus American Express® Card
Regular APR
17.15% – 29.15% variable
17.15% – 29.15% variable
0% APR Offer
-
-
Intro Offer
Earn a $200 reward bonus
Earn a $200 reward bonus after spending $1,000 on qualifying purchases within 90 days of account opening.See note
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Rewards Summary
Earn 1.5% cash back
Earn 1.5% cash back on purchases.
Earn 1% – 5% cash back
Earn 5% cash back on your first $3,000 in combined gas station and military base purchases yearly, 2% cash back on your first $3,000 in grocery purchases yearly and unlimited 1% cash back on other purchases.
Balance Transfer Offer
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0% Intro APR for 15 months
Balance Transfer Fee
5% of the amount of each Balance Transfer.
5% of the amount of each Balance Transfer
Annual Fee
$0
$0
Recommended Credit
670-850 (Good to Excellent)
670-850 (Good to Excellent)
Penalty APR
None
None
Not sure?
Which Card Is Better for You?
You might prefer the USAA Preferred Cash Rewards if you frequently spend at gas stations and grocery stores because you can earn up to 5% cash back on these purchases. And if you're affiliated with the military and shop on base, this card's rewards align well with your spending pattern, maximizing your cash back potential in these categories.
You might prefer the USAA Cashback Rewards Plus if you value simplicity and flexibility in your rewards. With a flat 1.5% cash back on all purchases, you don't need to track spending categories or caps. This card is ideal if you want a straightforward, consistent return on their everyday spending without the fuss.
Head-to-Head Comparison: Card Details and Features
Evaluating features like APRs, fees, credit requirements, rewards and introductory offers will clarify which card is for you. For instance, if you spend frequently at gas stations and military bases, the USAA Cashback Rewards Plus may offer greater benefits, whereas the USAA Preferred Cash Rewards provides consistent cash back on all purchases. Assess these points to pinpoint the card that complements your spending patterns.
Regular APR: Tie
Both the USAA Preferred Cash Rewards and the USAA Cashback Rewards Plus offer a variable APR range of 17.15% to 29.15%.
Annual Fee: Tie
Both the USAA Preferred Cash Rewards and the USAA Cashback Rewards Plus have no annual fee.
Introductory 0% APRs: USAA Cashback Rewards Plus
If you're seeking an introductory 0% APR offer, the USAA Cashback Rewards Plus stands out with its 0% Intro APR for 15 months on balance transfers. The USAA Preferred Cash Rewards does not offer an introductory 0% APR.
Rewards: USAA Preferred Cash Rewards
The USAA Preferred Cash Rewards outperforms with its straightforward approach, offering unlimited 1.5% cash back on all purchases. By contrast, the USAA Cashback Rewards Plus American Express Card provides 5% and 2% cash back in specific categories.
Welcome Offers: USAA Preferred Cash Rewards
The USAA Preferred Cash Rewards is better for welcome offers, offering a $200 reward bonus after $1,000 in qualifying purchases within the first 90 days. The USAA Cashback Rewards Plus American Express Card does not offer a welcome bonus.
Recommended Credit Score: Tie
Both the USAA Preferred Cash Rewards and the USAA Cashback Rewards Plus require a credit score range of 670 to 850, indicating they are suited for people with good to excellent credit.
Penalties and Fees: USAA Preferred Cash Rewards
The USAA Preferred Cash Rewards is slightly better for penalties and fees, offering a unique advantage with its cash advance fee waiver under certain conditions. Both cards impose up to $35 in late fees and have no APR penalties or foreign transaction fees.
Issuer Satisfaction: Tie
Because both cards are from USAA, they share the same issuer satisfaction score of 4.8.
Other Features & Perks: Tie
Both cards offer unique perks that cater to different needs. The USAA Cashback Rewards Plus provides specific benefits like complimentary auto rental coverage, travel insurance, and identity theft services, making it ideal for travelers and those seeking extra security.
The USAA Preferred Cash Rewards offers simplicity and flexibility with unlimited cash back on all purchases and robust security features. Depending on individual preferences for travel benefits versus everyday earning potential, either card could be the better choice.
Rewards Comparison
Both the USAA Preferred Cash Rewards and the USAA Cashback Rewards Plus offer cash back rewards, but they cater to different spending patterns. The USAA Preferred Cash Rewards is straightforward, offering a flat 1.5% cash back on all purchases. This simplicity is appealing if you prefer a one-size-fits-all approach to earning rewards.
On the other hand, the USAA Cashback Rewards Plus has tiered rewards, with 5% cash back on the first $3,000 in combined gas station and military base purchases yearly, and 2% cash back on the first $3,000 in grocery purchases yearly. If you frequently spend in these categories, the potential rewards can surpass those of the USAA Preferred Cash Rewards. But outside of these specific categories, the card only offers 1% cash back.
If your spending is varied and you value simplicity, the USAA Preferred Cash Rewards may be the better choice. If you spend heavily on gas and groceries, the USAA Cashback Rewards Plus could offer more value. Below is a table of bonus categories to help you compare the rewards programs at a glance.
Category | USAA Cashback Rewards Plus | USAA Preferred Cash Rewards |
|---|---|---|
Gas Stations | 5% for the first $3,000 annually/1% thereafter | 1.5% |
Military Bases | 5% for the first $3,000 annually/1% thereafter | 1.5% |
Grocery Stores | 2% for the first $3,000 annually/1% thereafter | 1.5% |
All Other Purchases | 1% | 1.5% |
Redeeming Rewards
With the USAA Cashback Rewards Plus, you can redeem your cash back in any amount over $1, which offers a high degree of flexibility. Similarly, the USAA Preferred Cash Rewards allows for easy cash back redemption without any category restrictions. Both cards ensure your rewards remain valuable over time, as there is no expiration date for the cash back you earn.
Methodology
MoneyGeek's ranking process assigns multiple scores to each credit card, reflecting their performance in various use cases. This approach ensures that the score reflects the card's performance in the scenario where it provides the most value.
For cash back cards, the primary factors we consider are the effective reward rate and the return on investment for offers. These elements — along with annual fees, introductory purchase rates and issuer satisfaction — contribute to a card's overall score. For a detailed understanding of our process, you can review our ranking methodology.
FAQ: USAA Preferred Cash Rewards vs. USAA Cashback Rewards Plus Card
What are the cash back rewards for each card?
The USAA Cashback Rewards Plus offers up to 5% on gas and military bases, 2% on groceries, and 1% on other purchases. The USAA Preferred Cash Rewards provides unlimited 1.5% on all purchases.
Do either of the USAA cards have an annual fee?
No, both the USAA Preferred Cash Rewards and the USAA Cashback Rewards Plus are cards with no annual fee, making them cost-effective options.
Can I save on interest with a balance transfer between these USAA cards?
Yes, the USAA Cashback Rewards Plus offers a 0% Intro APR for 15 months on balance transfers.
Are there foreign transaction fees with these USAA cards?
Both the USAA Preferred Cash Rewards and the USAA Cashback Rewards Plus are cards with no foreign transaction fees for international use.
What is the introductory offer for the USAA Preferred Cash Rewards Visa Signature Card?
The USAA Preferred Cash Rewards Visa Signature Card offers a $200 reward bonus as an introductory offer.
About Doug Milnes, CFA
Doug Milnes is a CFA charter holder with over 10 years of experience in corporate finance and the Head of Credit Cards at MoneyGeek. Formerly, he performed valuations for Duff and Phelps and financial planning and analysis for various companies. His analysis has been cited by U.S. News and World Report, The Hill, the Los Angeles Times, The New York Times and many other outlets.
Milnes holds a master’s degree in data science from Northwestern University. He geeks out on helping people feel on top of their credit card use, from managing debt to optimizing rewards.
*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available.
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