Which USAA Card to get?

[Anonymous]

So I've been thinking. Since I keep hearing great things about the USAA credit cards and I have car insurance with them, I would like to go ahead and apply for one of their cards. According to my USAA homepage, I'm eligible for the three below.

What do you all think? It seems the "student card" has a great 0% fixed apr for all purchases and BTs for the balance of each respective charge posted during the first six months. However, the credit limit on this card is fixed at $2500 for at least the first three months and it seems the interest rate might not be as good as the other two, 12.15% vs 8.25%.

As for the other two, they seem similar, except one is co-branded Amex and the other is MC. I've been wanting to get rid of my gold amex due to the yearly fee - it just doesn't really seem worth it to me anymore.

So any thoughts? What do you all think?

Here are the options:

MasterCard Credit Cards
USAA Cash Rewards℠ Platinum MasterCard®for College Students

An exclusive offer for college students:

* Fixed 0% Intro APR on purchases, balance transfers and convenience checks posted within six months of account opening. Keep this low rate until the balances are paid off.
* After six-month period, enjoy a low, variable rate (around 12.15%)
* No annual fee
* Cash rebates up to 1.25% on every purchase1


USAA Cash RewardsSM Platinum MasterCard

Earn cash back on credit card purchases. There's no limit to the amount you can earn each year.

* Variable rates as low as 8.25% APR on purchases
* No annual fee
* Cash rebates up to 1.25% on every purchase1
* Exclusive Platinum and military benefit


USAA American Express Rewards Card

Receive flexible reward options, unlimited points with no expiration date, 2,500 bonus points on your first purchase and more.

* Variable rates as low as 8.25% APR on purchases
* No annual fee
* No redemption fees on a variety of reward options
*
o Discounted travel on most airlines with no blackout dates
o Brand-name merchandise and gift certificates
o Cash rebates and charitable donations
* Exclusive Platinum and military benefit.

Message Edited by pjriverap on 10-10-2007 10:11 PM

[haulingthescoreup]

I think you're beyond needing the student card. Both my daughters have USAA cards, and they both started with the MC. (Newbies don't usually get offered all three!) My older daughter has picked up the USAA AmEx and dropped her true AmEx's, because she doesn't like fees. They award points for any purchase, not just limited areas, and initially they give you more than 1 pt per dollar spent.

I am using my USAA AmEx almost exclusively, because without even realizing it, I racked up a bunch of points. I keep the USAA MC in my wallet in case I wind up in a place that doesn't take AmEx. I just gifted 15,000 points to my older dtr, who is spending lots of $$$ flying to med school interviews, and that wound up getting her from New Orleans to Boston and back for free.

I do get a cashback from the MC in January, which seems to get immediately swallowed up by Christmas expenses! Can't beat USAA, IMO.

[Anonymous]

I don't really see the point the of the USAA Branded Amex, just stick with the mastercard. If you want an AMEX get a real AMEX, like the blue cash.

[haulingthescoreup]

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sasronin wrote:
I don't really see the point the of the USAA Branded Amex, just stick with the mastercard. If you want an AMEX get a real AMEX, like the blue cash.

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I just like having my two main cards from one place, and I appreciate the nice people at USAA, plus if I tried to apply now for an AmEx, someone there would be injured while laughing hysterically, and then ragcajun and fused and the other AmEx hounds would be angry with me.

On the other hand pjriverap's scores will probably do her just fine if she wants the real thing.

[Anonymous]

Thanks for the feedback everyone....hmm....I think I'm leaning towards the Amex now (after seeing the comments), however, I already have a blue cash card. But, the USAA has a lower APR so it might be good for large purchases that I don't play to pay off next month - besides I love the Amex warranty and theft coverages (for large expenses).

However, I'm also interested in the student mastercard. If I do a cash advance into my USAA bank account there is no BT/CA fee and I can then use that 2k or 3k to pay off some student debt "interest-free" for the life of the balance...thoughts?

P.S. LOL - hualingthescoreup, I'm a guy -

Message Edited by pjriverap on 10-11-2007 08:25 PM

[Anonymous]

Its official - I'm an credit addict - now I want both the USAA MC Student card and Amex - I guess I'll get both and phase out the Amex gold (keeping the blue cash) before the next annual fee is due.

I like the USAA student card because of the 0 % fixed apr offer on bts - I wonder once I leave grad school in a few months, if I can then convert to the lower apr "grown-up" mastercard, lol??

[haulingthescoreup]

I'm pretty sure that my 22-year-old has the regular MC, and she got it while still an undergrad--she never fooled with the student MC, if they had it then. She turned in her annual fee AmEx's, too. (sorry, fused and company.) She did get an offer in the mail for a Blue Cash that I need to forward to her, but she'll probably turn it down. She's looking at a lot more school and residency and at least a quarter million dollar student loan debt.

[Anonymous]

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@haulingthescoreup wrote:
I'm pretty sure that my 22-year-old has the regular MC, and she got it while still an undergrad--she never fooled with the student MC, if they had it then. She turned in her annual fee AmEx's, too. (sorry, fused and company.) She did get an offer in the mail for a Blue Cash that I need to forward to her, but she'll probably turn it down. She's looking at a lot more school and residency and at least a quarter million dollar student loan debt.

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$250K in student loan debt - wow! Poor girl -

She should think about taking her degree into the public sector. For public sector employees with 10 years of service (government, public health, non-profit, etc.) all student loans are forgiven after the 10th year, per the new Higher Education Cost Reduction Act.

However, if she is a med student - I'm sure she'll have that debt paid off in no time! Good luck!

P.S. The Blue card is GREAT - my favorite to date-

[haulingthescoreup]

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@pjriverap wrote:
$250K in student loan debt - wow! Poor girl -

She should think about taking her degree into the public sector. For public sector employees with 10 years of service (government, public health, non-profit, etc.) all student loans are forgiven after the 10th year, per the new Higher Education Cost Reduction Act.

However, if she is a med student - I'm sure she'll have that debt paid off in no time! Good luck!

P.S. The Blue card is GREAT - my favorite to date-

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Now that's interesting about the HECR Act, because she wants to do international public health and work for CDC or someone. Since I'm afraid that she would get paid with chickens and yak butter, it's nice to know about the 10 years of service. We knew about the underserved-areas possibility, but they are more primary care-related.

I'll be sure to let her know to look that one up. (And about the Blue!)

[Anonymous]

Glad to help - and yes, tell her to research the "College Cost Reduction Act of 2007" (I mis-typed it earlier)

P.S. CDC is GREAT (tons of opportunities, great benefits, and one-of-kind experiences)! I use to work their before accepting another position in another US Health Agency, in D.C.

Message Edited by pjriverap on 10-13-2007 09:10 PM