topic Re: USAA cashback minimum for redemption in Credit Cards

USAA cashback minimum for redemption

Lantern1036 — Fri, 22 Nov 2024 00:55:13 GMT

Currently in the garden for another few months until some HPs (currently EX 4/12 and TU 2/12, 0/6 on all 3 CRAs) become non-scoreable, but I am planning ahead for a few cards to apply for next year.

I have had USAA rewards visa for several years and am considering cashback rewards plus amex for category multipliers in gas & grocery.

For the USAA card I currently have, there is a minimum points accrual of 10 USD before cashback redemption. Does anyone here have their cashback rewards plus card and can confirm whether the same is true re: CB redemptions on it? Also, I only have the one card with them, so I wonder if the two cards' cashback is combined in their portal or whether each card needs to accrue $10 cashback separately to be available for redemption.

Re: USAA cashback minimum for redemption

Bockrocker — Fri, 22 Nov 2024 01:22:30 GMT

I know their rewards program says $10 minimum but when I just went into the redemption options it seemed like it would let me redeem as cash back at $1...too bad I only have $0.37 . I only use my cards for the $0.99 forgiveness each month so it might be a while.

I can't fully confirm because while I have 2 cards only 1 earns rewards (other is the low rate card). But it seems like rewards would not be pooled.

Personally as I have progressed further into credit cards the USAA cards have gotten less and less competitive. While I kind of like USAA as an institution I think the AMEX is a poor proposition. The grocery earn rate is low. The gas/base exchange spending cap is low. You are able to enroll in Amex offers I think but otherwise I would say Visa is a preferred gas card.

Re: USAA cashback minimum for redemption

KatzNDawgs — Fri, 22 Nov 2024 02:18:20 GMT

I don't know about the under $10 pull for rewards, as I always forget about the rewards building up and only use them about once a year. However, with multiple rewards cards, the total does pool together unlike NFCU. When I go to rewards, regardless of which card I choose I have the total combined amount available to use. I have both the visa and AE rewards cards.

Re: USAA cashback minimum for redemption

Lantern1036 — Fri, 22 Nov 2024 03:57:06 GMT

@Bockrocker: I'm low-income/low-spend right now, so I don't accumulate points on my USAA card too quick either but I've never been able to redeem < $10 CB at a time, so that's interesting to hear. Am only using it for the 2% gas category at the moment as my only other cc is the chase freedom unlimited with 1.5% everywhere.

Fair point on the low USAA amex grocery earn rate. I guess I'd mostly use that card for the 5% gas/base category, and I drive ~5k miles/year so my gas expenses have historically not been the highest, so the low cap isn't too much of a concern for me.

Re: USAA cashback minimum for redemption

Lantern1036 — Fri, 22 Nov 2024 04:01:53 GMT

@KatzNDawgs : I typically cash out points on my chase card once each statement cuts, so I guess I would prefer USAA take off their minimum as I don't have a ton of spend on the card to rack up cashback >$10 more than every 6mo or so. It's just a card I've had for years so it helps my AAoA.

Thanks for the confirmation on the multiple card rewards redemptions.

Re: USAA cashback minimum for redemption

ptatohed — Fri, 22 Nov 2024 16:31:04 GMT

@Bockrocker wrote:
I know their rewards program says $10 minimum but when I just went into the redemption options it seemed like it would let me redeem as cash back at $1...too bad I only have $0.37 . I only use my cards for the $0.99 forgiveness each month so it might be a while.

I can't fully confirm because while I have 2 cards only 1 earns rewards (other is the low rate card). But it seems like rewards would not be pooled.

Personally as I have progressed further into credit cards the USAA cards have gotten less and less competitive. While I kind of like USAA as an institution I think the AMEX is a poor proposition. The grocery earn rate is low. The gas/base exchange spending cap is low. You are able to enroll in Amex offers I think but otherwise I would say Visa is a preferred gas card.

Explain this 99c forgiveness!

Re: USAA cashback minimum for redemption

Kforce — Fri, 22 Nov 2024 17:25:37 GMT

@ptatohed wrote:
Explain this 99c forgiveness!

I believe it is like US-Bank.

If your balance due at statement is < 1 dollar they credit and give you a zero balance.

Free 99c every month if you pay your balance less 99c.

Re: USAA cashback minimum for redemption

Lantern1036 — Fri, 22 Nov 2024 17:16:51 GMT

@Kforce wrote:
@ptatohed wrote:
Explain this 99c forgiveness!

I believe it is like US-Bank.
If your balance due at statement is < 1 dollar they credit and give you a zero balance.
Free 99c every month if you pay your balance too (due less 99c).

Interesting, I never knew this was a thing for USAA. So, I guess if I end up applying for a new card for the gas category (no sooner than April as that's when I'm expecting to have higher income and my last HP will hit 1 year), then this card will really go in the sock drawer. Maybe just to keep the card active at that point, I'll just buy a $2 soda from a vending machine 1x/month, make a $1.01 payment, and... when the statement hits, get a 99c discount for 50% off.

Re: USAA cashback minimum for redemption

Kforce — Fri, 22 Nov 2024 17:23:28 GMT

I don't have USAA, just guessing it works like US-Bank.

Did exactly what you are saying with US-Bank for more than a year.

Re: USAA cashback minimum for redemption

ptatohed — Fri, 22 Nov 2024 17:32:37 GMT

@Kforce wrote:
@ptatohed wrote:
Explain this 99c forgiveness!

I believe it is like US-Bank.
If your balance due at statement is < 1 dollar they credit and give you a zero balance.
Free 99c every month if you pay your balance less 99c.

Hmm, interesting. So, I have a bill of $400 on my USB credit card... I make a payment of $399.01 and USB absorbs the remaining $0.99? Is there a list of banks who do this? I wouldn't mind doing this but I think I'd be too nervous that I'd get charged interest for not PIFing!

Re: USAA cashback minimum for redemption

Kforce — Fri, 22 Nov 2024 17:38:40 GMT

@ptatohed wrote:
@Kforce wrote:
@ptatohed wrote:
Explain this 99c forgiveness!

I believe it is like US-Bank.
If your balance due at statement is < 1 dollar they credit and give you a zero balance.
Free 99c every month if you pay your balance less 99c.

Hmm, interesting. So, I have a bill of $400 on my USB credit card... I make a payment of $399.01 and USB absorbs the remaining $0.99? Is there a list of banks who do this? I wouldn't mind doing this but I think I'd be too nervous that I'd get charged interest for not PIFing!

I am talking full balance not last months due amount.

Current balance less 99c. would yield free money, no danger trying.

Float might be much more if you have larger spend.

For sock drawer cards with very small spend only.

Re: USAA cashback minimum for redemption

Kforce — Fri, 22 Nov 2024 17:57:49 GMT

@Kforce wrote:
@ptatohed wrote:
@Kforce wrote:
@ptatohed wrote:
Explain this 99c forgiveness!

I believe it is like US-Bank.
If your balance due at statement is < 1 dollar they credit and give you a zero balance.
Free 99c every month if you pay your balance less 99c.

Hmm, interesting. So, I have a bill of $400 on my USB credit card... I make a payment of $399.01 and USB absorbs the remaining $0.99? Is there a list of banks who do this? I wouldn't mind doing this but I think I'd be too nervous that I'd get charged interest for not PIFing!
I am talking full balance not last months due amount.
Current balance less 99c. would yield free money, no danger trying.
Float might be much more if you have larger spend.
For sock drawer cards with very small spend only.

With 5% HYS-APR the cross over number is = $240

Less and you make more with the 99c, more you should float.

Re: USAA cashback minimum for redemption

Bockrocker — Fri, 22 Nov 2024 20:12:08 GMT

@ptatohed wrote:
@Kforce wrote:
@ptatohed wrote:
Explain this 99c forgiveness!

I believe it is like US-Bank.
If your balance due at statement is < 1 dollar they credit and give you a zero balance.
Free 99c every month if you pay your balance less 99c.

Hmm, interesting. So, I have a bill of $400 on my USB credit card... I make a payment of $399.01 and USB absorbs the remaining $0.99? Is there a list of banks who do this? I wouldn't mind doing this but I think I'd be too nervous that I'd get charged interest for not PIFing!

Yes as others have mentioned you have to pay your balance down to $0.99 before your statement closes, and they just zero it out (you can leave auto pay on). It's obviously not worth applying to cards just for this but for cards you already have that have become obsolete or no good categories that month etc, it's a nice free bonus.

https://www.doctorofcredit.com/small-balance-waiver-a-k-a-lots-of-free-99-cent-amazon-gcs/

Re: USAA cashback minimum for redemption

Kforce — Sat, 23 Nov 2024 01:00:59 GMT

Longer list than I thought.