topic Re: USAA bonus cash offer in Credit Cards

USAA bonus cash offer

Bman70 — Tue, 08 Sep 2015 19:09:44 GMT

Anybody apply for this? I don't see anything else attractive about the card - 1.5% on everything, but rewards given annually instead of realtime. But only 6 purchases is pretty easy. I was thinking of applying and then PCing to the USAA Amex, which is their only card I remotely want.. but I don't think USAA does PCs.

Re: USAA bonus cash offer

UncleB — Tue, 08 Sep 2015 19:23:16 GMT

The $200 offer is strong, but the rewards are 'meh'. Also, there are several versions of each flavor of USAA rewards cards - the card in the picture is the Mastercard version of the Visa card I have, and I believe the rewards are only 1%. The card you're thinking of is the "Preferred Cash Rewards" Mastercard (they look similar, but are slightly different) and that one does indeed offer 1.5% cash back, redeemable once a year.

The 'USAA Rewards' cards only offer 1% cash back, but you can redeem any amount any time using the app, and starting in a few weeks (?) you'll be able to redeem via the website as well.

All this being said, I've been happy with my Rewards Visa, although it's not my 'go to' card for everyday purchases. I took advantage of a 0% APR for the first year (which has come in very handy) and I use it occasionally to keep it active.

Also, as far as I know you're also correct in that USAA won't do a PC from one card brand to another. I haven't seen any threads, though, on if they'll change a "USAA Rewards" card to a "Preferred Cash Rewards" card... that seems like it would be less of a stretch to me than say going from a MC to an Amex.

Let us know what you decide!

Re: USAA bonus cash offer

Bman70 — Tue, 08 Sep 2015 20:39:41 GMT

You're right, the offer is for the 1% points card. Hmm, even less desirable. No 0% offer either. Still, it's almost worth a throwaway card for the $200 + 2500 points (essentially ~$220). I'll call about the PC and post results here.

Re: USAA bonus cash offer

UncleB — Tue, 08 Sep 2015 21:20:38 GMT

@Bman70 wrote:

You're right, the offer is for the 1% points card. Hmm, even less desirable. No 0% offer either. Still, it's almost worth a throwaway card for the $200 + 2500 points (essentially ~$220). I'll call about the PC and post results here.

In this case, I'm sorry I'm right.

If you do give them a call, please let us know what they say about PC/changing rewards type. Also, it might not hurt to see if their policy has changed regarding moving credit lines from one account to another ("reallocation"). I know a while back it was said to not be possible, but they've changed/updated a lot lately, so maybe this has changed as well (and would possibly give you more reason to app for this card, to later on move the credit line to the card you really want).

FYI, if you do get the card, use the app (not computer) to cash in the 'points' and you'll get a true 1% for your 2500 points, equal to $25. For some reason, the offer using the web is less, although they're supposed to be updating that in the next few weeks (the date was the end of August, now says September...)

Good luck!

Re: USAA bonus cash offer

Bman70 — Wed, 09 Sep 2015 02:11:01 GMT

Well I called, no PC between networks (MC to Amex etc.).. but there's an option to "put in a request" to change from points to cash rewards. She said although she doesn't know the criteria used, sometimes that gets approved and sometimes not.

To add to the pros, one of the better features about the USAA cards is the cash advance-to-checking option. If you cash advance to your USAA bank account, there's no fee and it's charged your normal purchase rate. So essentially you can buy using the CC, or buy using cash from the CC, at the same rate.

Thanks for the feedback UncleB.

Re: USAA bonus cash offer

UncleB — Wed, 09 Sep 2015 02:36:42 GMT

@Bman70 wrote:

Well I called, no PC between networks (MC to Amex etc.).. but there's an option to "put in a request" to change from points to cash rewards. She said although she doesn't know the criteria used, sometimes that gets approved and sometimes not.

To add to the pros, one of the better features about the USAA cards is the cash advance-to-checking option. If you cash advance to your USAA bank account, there's no fee and it's charged your normal purchase rate. So essentially you can buy using the CC, or buy using cash from the CC, at the same rate.

Thanks for the feedback UncleB.

You're very welcome!

Thanks for letting us know it might be possible to change from a 'points' to cash rewards... that alone is more than other issuers (Amex) are known to do, and is a great data point to add to the collection.

The cash advance to checking at the same APR is a fantastic feature - I also like having my card linked to checking for overdraft protection, knowing if something crazy were to happen it would be covered, also with no advance fees.

My own USAA card doesn't get a lot of action, but it definitely has a place in my wallet.

Re: USAA bonus cash offer

Anonymous — Wed, 09 Sep 2015 17:50:41 GMT

Incorrect, they waive the fee for direct to checking, but you pay interest daily at the cash advance rate which may or may not be the same as your purchase rate..there's no free grace period and don't think there is.

Re: USAA bonus cash offer

UncleB — Wed, 09 Sep 2015 19:31:05 GMT

@Anonymous wrote:
Incorrect, they waive the fee for direct to checking, but you pay interest daily at the cash advance rate which may or may not be the same as your purchase rate..there's no free grace period and don't think there is.

Not incorrect navyitaly... the OP and myself were discussing the fees involved in taking a cash advance from a USAA card... while it is certainly a consideration, we said nothing about the daily interest accruing, which you are right in that it does (for direct to checking and traditional cash advances).

Also, with USAA, there is no separate cash advance rate; the rate (APR) for cash advances is always the same as the purchase rate. I know they have quite a few offerings now, so if you are aware of an offering where the rates do differ, please let me know - possibly I missed one. Also, as far as I know, all USAA cards allow the entire credit line to be used for cash advances (this is for accounts that allow cash advances at all... I know some rebuilder accounts don't). Again, if I overlooked a product please let me know.

https://www.usaa.com/inet/pages/banking_credit_cards_main?akredirect=true

Finally, from time-to-time USAA will offer promotions (I'm on one now) where no interest accrues on either purchases or cash advances taken by access checks (not even daily interest). It's a sweet deal.

Re: USAA bonus cash offer

Anonymous — Wed, 09 Sep 2015 21:49:09 GMT

Is this a targeted offer? I don't see it on their site.

Re: USAA bonus cash offer

UncleB — Wed, 09 Sep 2015 21:53:38 GMT

@Anonymous wrote:
Is this a targeted offer? I don't see it on their site.

Yeah, OPs offer was targeted, my offer was targeted as well. I got an email that there was an offer on the 'Offers' tab of my account home page. My grandfather gets the same offer from time-to-time, but usually for the Amex (his account has my e-mail, so I see his email offers, too).

They tend to come out in the fall... possibly due to the holidays?

Re: USAA bonus cash offer

Anonymous — Wed, 09 Sep 2015 22:17:48 GMT

Damn, I wanted some free money!

Re: USAA bonus cash offer

Bman70 — Wed, 09 Mar 2016 04:13:10 GMT

Update: Not too impressed with USAA. I applied for the card and was approved in October 2015. Put the six purchases on the card within a month. Still no $200 bonus. Called several times, to general confusion. One woman said, "It already posted to your account," and I had to point out that was incorrect.

Then last week I was told that it was forwarded to the correct department, and March 8 would be the latest I would see the credit applied. And to call back if I didn't see it by then. Which I just did. The CSR apologized, and after a 25 minute hold said that these things will take a minimum of 20 days to be sorted out. And to expect the credit around April 1. He really sounded lost, like he didn't know who to ask about it.

Wow, never had such a poorly managed sign up bonus on a credit card. Doesn't help that I have around $200 balance on the card, which is being charged interest and which the credit should have erased by now.

Re: USAA bonus cash offer

UncleB — Wed, 09 Mar 2016 04:23:19 GMT

@Bman70 wrote:

Update: Not too impressed with USAA. I applied for the card and was approved in October 2015. Put the six purchases on the card within a month. Still no $200 bonus. Called several times, to general confusion. One woman said, "It already posted to your account," and I had to point out that was incorrect.

Then last week I was told that it was forwarded to the correct department, and March 8 would be the latest I would see the credit applied. And to call back if I didn't see it by then. Which I just did. The CSR apologized, and after a 25 minute hold said that these things will take a minimum of 20 days to be sorted out. And to expect the credit around April 1. He really sounded lost, like he didn't know who to ask about it.

Wow, never had such a poorly managed sign up bonus on a credit card. Doesn't help that I have around $200 balance on the card, which is being charged interest and which the credit should have erased by now.

Wow... this is completely opposite from the level of service I've experienced with USAA.

Clearly something has gone wrong. Rather than languish on hold for extended periods of time, I would ask for an escalation to a supervisor (and get a name and extension). I suspect once you reach the right person, they will be able to quickly correct the problem.

If you have problems getting an escalation via CSR, I would reach out to them on social media; that should quickly get you to the correct folks.

Thanks for the data point, and please keep us updated on your situation.