Preferred Cash Rewards Visa Signature® Credit Card

The USAA Preferred Cash Rewards Visa Signature® Credit Card receives an overall rating of 3.4, placing it firmly in the 'Good' category. This card presents a compelling package of benefits for its target audience, particularly USAA members who prioritize simplicity and value, but it is significantly hampered by its high APR. On the positive side, the card truly excels in its fees, rewards, and reputation. The absence of an annual fee and foreign transaction fees (rated 4.0 and 4.1 respectively) makes it a very cost-effective card for everyday use and international travel. The rewards program (rated 4.1) is strong, offering a generous $250 sign-up bonus for a reasonable spend, coupled with a solid 1.5% flat cash back on all purchases. The simplicity of earning and redeeming rewards, alongside additional travel and purchase protections, adds considerable value. USAA's reputation for excellent customer service and reliability (rated 4.1) further enhances the card's appeal, providing peace of mind for members. However, the card's most significant drawback is its APR (rated 1.5). The regular variable APR range of 15.40% to 27.40% is notably high, especially at the upper end, for a card targeting individuals with 'Good' credit. This high APR means that carrying a balance can quickly negate any cash back earned, making the card very expensive for cardholders who do not pay their statement in full each month. Additionally, the 5% balance transfer and cash advance fees are also on the higher side. In summary, this card is an excellent choice for USAA members who consistently pay their balance in full and value a straightforward rewards program without annual or foreign transaction fees. For those who may carry a balance, the high APR becomes a critical factor that severely diminishes the card's overall value, making it less competitive than other options in the market. The strong positive attributes outweigh the poor APR for many, but the APR is a significant enough concern to prevent a higher overall rating. It's a reliable, user-friendly card that requires disciplined financial management to maximize its benefits.