USAA branded AMeX benefits vs the real AMeX benefits?

[unlucky_hove]

I have compared some (but not all) of the benefits of the USAA AMeX vs the general benefits AMeX(green, gold, blue, etc.) offers. For starters USAA's purchase protection covers $2500 per occurence ($75000 a year), where as AMeX offers $1000 per occurance ($50000 a year). USAA will cover new items for 150 days from the date of purchase, AMeX is 90 days form the date of purchase. USAA also gives personal concerige services with their AMeX branded CC, I believe the platinum AMeX is the only one to offer this. I havent compared them word for word, but just from the above USAA is somewhat the better option. I know that it depends on how the individual uses the card, so one maybe able to maximize a particular AMeX card with there lifestyle. But it would seem that for the casual user, USAA would be the way to go...........am i thinking about this totally wrong or what? Thoughts?

[ficonightmare]

Very interesting, thanks for posting the info.

I have a Zync card and a BOA Amex. Going to compare them now.

[Gray]

I've been using credit cards for 20 years and never used anything other than the standard protections that purchasing via credit cards provides.  The reward cards I have used have been GM Card and uPromise (and we have earned probably $5000 to $7000).

What I don't understand is why someone who doesn't travel much at all (doesn't use the extra frills--concierge, etc.) would want/need an Amex card. I've never had a problem disputing a charge with Citi, USAA, or BoA.

For USAA Amex: "Your due date is at least 25 days after the close of each billing cycle. We will begin charging interest on purchases, cash advances, and balance transfers on the transaction date until they are paid. However, we will not charge you interest on purchases if you pay your entire balance by the due date each month."

Why would anyone want to do that?  I'd only want to pay interest on the portion I did *not* pay off.  The way this reads, they own you if you don't pay your balance in full.

[poum]

I'll have to look into this. I never looked hard into the benefits of the USAA Amex.

Good post.

[p-]

And with USAA there's no annual fee.  Nice.

From my USAA statement:  "Paying Interest and Your Grace Period: We will not charge you any further interest on your Purchase Balance on this Statement if you pay your entire New Balance by your Payment Due Date of"

Seems to me if I pay all new charges each month I won't pay interest.

[TangMeister]

I really like USAA and have their MC, checking and savings, but the issue I have with their Amex is not the benefits, but rather that the rewards are very low.  It's not even 1% return on each $1 spent.  BoA's Accelerated Cash Back Amex is 1.25%, along with 3% bonus categories that pop up from time to time. Even Fidelity offers a 2% cash back return on their no annual fee Amex.  So, USAA's Amex is at the bottom of the rewards barrel. 

As far as American Express Centurion Bank offerings, it seems most are focused here on their fee-based cards when comparing, and that's not really a good comparison.  Their new Blue Cash Everyday card is one of the best no annual fee rewards cards out there, with unlimited 3% cash back on groceries, 2% on gas and dept stores, and 1% on everything else.  

When USAA Amex can at least up their cash back to 1% then yeah, it's an ok alternative to the rest.  Otherwise, it's really just a niche player for those who just love USAA, or can't get the other Amex card offerings out there.   

[lakerfan2011]

who does the dilliards amex compare through ge money i have one but never noticed the differnces

[daylove]

---

@unlucky_hove wrote:

I have compared some (but not all) of the benefits of the USAA AMeX vs the general benefits AMeX(green, gold, blue, etc.) offers. For starters USAA's purchase protection covers $2500 per occurence ($75000 a year), where as AMeX offers $1000 per occurance ($50000 a year). USAA will cover new items for 150 days from the date of purchase, AMeX is 90 days form the date of purchase. USAA also gives personal concerige services with their AMeX branded CC, I believe the platinum AMeX is the only one to offer this. I havent compared them word for word, but just from the above USAA is somewhat the better option. I know that it depends on how the individual uses the card, so one maybe able to maximize a particular AMeX card with there lifestyle. But it would seem that for the casual user, USAA would be the way to go...........am i thinking about this totally wrong or what? Thoughts?

---

The Amex Platinum is $10,000 per occurrance.

[unlucky_hove]

---

@daylove wrote:

---

@unlucky_hove wrote:

I have compared some (but not all) of the benefits of the USAA AMeX vs the general benefits AMeX(green, gold, blue, etc.) offers. For starters USAA's purchase protection covers $2500 per occurrence ($75000 a year), where as AMeX offers $1000 per occurrence ($50000 a year). USAA will cover new items for 150 days from the date of purchase, AMeX is 90 days form the date of purchase. USAA also gives personal concierge services with their AMeX branded CC, I believe the platinum AMeX is the only one to offer this. I havent compared them word for word, but just from the above USAA is somewhat the better option. I know that it depends on how the individual uses the card, so one maybe able to maximize a particular AMeX card with there lifestyle. But it would seem that for the casual user, USAA would be the way to go...........am i thinking about this totally wrong or what? Thoughts?

---

The Amex Platinum is $10,000 per occurrence.

---

No, as pointed out to me earlier its $1000. What you are referring to is the Buyers protection plan which is like an extended warranty plan

[unlucky_hove]

---

@TangMeister wrote:

I really like USAA and have their MC, checking and savings, but the issue I have with their Amex is not the benefits, but rather that the rewards are very low.  It's not even 1% return on each $1 spent.  BoA's Accelerated Cash Back Amex is 1.25%, along with 3% bonus categories that pop up from time to time. Even Fidelity offers a 2% cash back return on their no annual fee Amex.  So, USAA's Amex is at the bottom of the rewards barrel. 

As far as American Express Centurion Bank offerings, it seems most are focused here on their fee-based cards when comparing, and that's not really a good comparison.  Their new Blue Cash Everyday card is one of the best no annual fee rewards cards out there, with unlimited 3% cash back on groceries, 2% on gas and dept stores, and 1% on everything else.  

When USAA Amex can at least up their cash back to 1% then yeah, it's an ok alternative to the rest.  Otherwise, it's really just a niche player for those who just love USAA, or can't get the other Amex card offerings out there.   

---

Kind of harsh ehh? i mean if one can quailfy for a USAA credit product im pretty sure they will qualify for a American Express Centurion Bank product. USAA doesnt let just anyone in the door.

It seems you are focusing purely one the reward aspect, which is fine but you have some old school people out here who really dont care for rewards. I was focusing purely on the casual CC user, not someone who charges any and everything just to maximize rewards. I agree that it is not a fair comparison with the fee based cards as i was just focusing purely on the benefits of each card the each company offers (the fine print most of us dont read).

There are always going to be trade offs depending on which product you use, its all about what fits you best.  It seems that USAA absorbs alot of the cost for the benefits they afford on to its users, that alone makes up for the lack of rewards. When you buy that shiny new computer and it gets broken within the first 90 days of its purchase, you can get the $1000 from American Express Centurion Bank to replace it, I guess youll have to use your rewards to make up the remaining cost.  USAA users with get full purchase price (or close to it) 150 days form the date of purchase and they can keep their feable reward balance. (You never know what might happen)