USAA Cashback Rewards Plus American Express® Credit Card Review: High Cash Back for USAA Members
Discover if the USAA Cashback Rewards Plus American Express® Credit Card truly delivers high cash back for USAA members. Our in-depth review explores its generous rewards on gas and groceries, a solid sign-up bonus, and key spending caps.
| Annual Fee | $0.00 |
| Sign-up Bonus | $200 reward bonus |
| Rewards Rate | 1%-5% Cash Back |
| Intro APR | Get a 0% Intro APR through your March 2028 billing cycle on balance transfers and convenience checks that post to your account by November 30, 2026. After your March 2028 billing cycle, the variable regular APR of 15.40% to 27.40% will apply to these introductory balances. There is a fee of 5% of the amount of each balance transfer and convenience check from account opening. |
| Regular APR | 15.40% to 27.40% Variable Regular APR |
| Other Fees | Balance Transfer and Cash Advance fee is 5% of each transaction amount. |
Overview
The USAA Cashback Rewards Plus American Express® Credit Card offers impressive earning rates in key spending areas, making it a compelling choice for USAA members. With no annual fee, cardholders can earn an excellent 5% cash back on up to $3,000 in gas station and military base purchases each year, plus 3% cash back on the first $3,000 spent annually on groceries. This is complemented by a solid $200 sign-up bonus and the convenience of no foreign transaction fees, which is a valuable perk for service members stationed or traveling abroad.
While the high reward rates are attractive, they are limited by annual spending caps, after which all purchases earn a standard 1% back. The card also features a 0% introductory APR on balance transfers, but this offer is less appealing when you factor in its high 5% transfer fee and the fact that new purchases will begin accruing interest immediately if you carry a transfer balance. For these reasons, it’s not the best choice for those looking to finance a large purchase or transfer significant debt.
Ultimately, this card is tailor-made for USAA members who pay their balance in full each month and can maximize the rewards on gas, groceries, and on-base spending. If your spending habits align with these specific bonus categories, it serves as a powerful, cost-effective tool for earning cash back on everyday essentials.
Pros & Cons
What's great
- No annual fee
- Intro APR period
- Generous sign-up bonus
- High cashback rewards rate
- Cashback on purchases
- No foreign transaction fees
- Travel and purchase protections
Things to consider
- High regular APR
- Limited bonus rewards categories
- High balance transfer fee
Benefits
Generous Welcome Offer
New cardmembers can earn a solid welcome bonus: a $200 reward after spending just $1,000 on qualifying purchases. This is a highly competitive offer for a card with no annual fee, representing a 20% return on your initial spending. The requirement is straightforward to meet, and USAA provides an exceptionally long time to reach it, making this one of the more accessible sign-up bonuses on the market.
High-Value Everyday Rewards
The card's primary appeal lies in its high cash back rates on common expenses. You'll earn an impressive 5% cash back on your first $3,000 in gas station purchases and 3% back on your first $3,000 in grocery purchases each year. For USAA members, the card is particularly valuable, offering 5% cash back on the first $5,000 spent annually on military base purchases. While these bonus categories are subject to annual spending caps, the earning rates are excellent and can deliver significant value for cardholders whose spending aligns with these areas. All other purchases earn a standard 1% cash back.
Excellent Travel and Purchase Perks
For a card with no annual fee, the Cashback Rewards Plus American Express® Credit Card comes packed with valuable benefits. Most notably, it charges no foreign transaction fees, making it an excellent choice for overseas travel or international online shopping—a key perk for military members stationed abroad. The card also includes a strong suite of travel protections often found on premium cards, such as Auto Rental Coverage, Trip Cancellation and Interruption Coverage, and Baggage Delay Reimbursement. For everyday shopping, cardholders also benefit from extended warranty protection on eligible purchases.
Drawbacks
While the card's headline rewards rates are impressive, its biggest limitation lies in the low annual spending caps. You'll earn 5% back on gas and 3% on groceries, but only on the first $3,000 spent in each category per year. After hitting those caps, the earning rate drops to a meager 1%. This structure means the card is best used for targeted spending rather than as an everyday workhorse, as heavy spenders in these categories will quickly see their rewards diminish. The 5% back on military base purchases is a fantastic perk, but it's only valuable to a specific niche of consumers.
It’s also crucial to look past the attractive 0% introductory APR offer on balance transfers. The offer is hampered by a high 5% balance transfer fee, which can significantly eat into your potential interest savings. More importantly, if you transfer a balance, you will lose the grace period on new purchases and begin accruing interest on them immediately unless you pay your entire statement balance in full each month. Finally, with a regular APR that can climb as high as 27.40% Variable, this card is a poor choice for anyone who anticipates carrying a balance from month to month.
Decision Guidance
This card is an excellent fit for USAA members who spend heavily on gas, groceries, and at military bases and pay their balance in full each month. The high, targeted cash back rates provide exceptional value on everyday spending, especially for service members. However, the annual reward caps mean high spenders might earn more with a flat-rate card, and its balance transfer offer is not competitive enough for those looking to manage debt.
Summary
For USAA members, this card is a top-tier choice for gas and on-base spending, offering a lucrative 5% cash back rate with no annual fee. While the high rewards are limited by annual spending caps and its balance transfer offer is uncompetitive, it's an excellent everyday tool for those who can maximize the bonus categories without carrying a balance.