USAA Rate Advantage Platinum Card

If you’re like me, you take advantage of as many of USAA’s military-focused products as you can. I opened my first account as a new military enlistee and have maintained a relationship with USAA since, including through military retirement.

You might not associate USAA with credit cards. I didn’t at first, even though I had banking, mortgage, and insurance accounts with the company. But today, as a longtime USAA Rate Advantage Platinum Credit Card holder, I am pleased with the card’s benefits and, as always, USAA’s excellent customer service.

The Rate Advantage Visa Platinum Credit Card from USAA is my go-to card for everyday spending, large purchases, and travel expenses. It has a low interest rate combined with robust purchase and travel protections.

See how we rate credit cards here.

The Interest Savings Math

If you carry a $5,000 balance, USAA’s rate (~12%) compared to a typical rewards card rate (~21%) saves you approximately $450 per year in interest savings. Whether that’s better than rewards depends on your situation: earning that same $450 with a 2% cash-back card requires $22,500 in annual spending. 

But here’s the key difference—you only get that interest savings if you’re carrying a balance, while rewards require spending money. For military families facing unexpected expenses like PCS moves or emergency travel, having the option to carry a balance at a low rate provides financial flexibility that rewards can’t match.

Why It Works for Military Families

USAA’s Rate Advantage Platinum Card supports military families with a low interest rate, including an introductory 0% APR for a generous 15 months, which applies to balance transfers and convenience checks. It also offers automatic insurance and purchase protection on travel, cell phones, and more. After the introductory period, you will have a variable APR of 11.15% to 25.15%. Also, note that there is a 5% fee on balance transfers.

You should note that making a balance transfer under this offer means any new purchases on this card will automatically accrue interest until you pay your balance in full—including the amount of the balance transfer.

The card also offers several valuable travel protection perks, making it an excellent choice for military families who travel frequently, make periodic large purchases or even need to carry a balance in an emergency.

Low Interest Rate

USAA’s Rate Advantage Platinum card offers the lowest interest rate among USAA’s cards. The interest rate will be based on your creditworthiness and vary according to the prime interest rate. You can see the current rates for the USAA Rate Advantage Platinum Card here.

Why this matters for military families: PCS moves, emergency leave travel, unexpected car repairs, or medical expenses can temporarily force you to carry a balance on your credit card. When life throws financial curveballs—and military life throws plenty—having the lowest possible interest rate means more money stays in your pocket when you have to pay interest on these purchases. Even if you typically pay in full, having this safety net matters.

The 0% introductory period advantage: Getting 15 months at 0% interest on balance transfers means you can consolidate high-interest debt from other cards and pay it down without accruing additional interest charges. For a family dealing with PCS debt or emergency expenses, this can save hundreds or even thousands of dollars.

Related: The Best Balance Transfer Cards for Military

Travel Benefits

USAA credit cards offer a range of benefits. All you have to do to take advantage of these is to pay for the relevant service using your USAA Rate Advantage Platinum Card.

• Rental Car Protection: By using your USAA card to book a rental car, you can get up to 31 days of free worldwide rental car coverage, which can save you $40 or more per day. For a typical week-long rental, that’s $280+ in savings you’d otherwise pay to the rental company. You must decline the rental agency’s insurance coverage for this benefit to apply.
• Trip Insurance: Booking travel tickets with your USAA credit card can also save you the cost of trip insurance if you have to cancel due to illness or another covered reason. Unique to USAA credit cards, the trip insurance also kicks in if you have to cancel plans because your military orders change—a benefit specifically designed for the unpredictability of military life.
• Baggage Delay: If your baggage is delayed by more than four hours while traveling, USAA will reimburse you for purchases made to tide you over, including toiletries, clothing, and even chargers for up to $100 per day, up to 3 days.
• Foreign Transaction Fees: The Rate Advantage Platinum Card has no foreign service fees, which is handy if you plan to use the card outside the United States or are stationed OCONUS. With many other credit cards, you incur a cost that usually ranges between 1% and 3%, according to Experian.
• Travel and Emergency Assistance: As a cardholder, you can call USAA’s benefits center day or night for help if you become ill or experience another emergency.
• Travel Accident Insurance: USAA automatically insures you for up to $500,000 in the event of loss of life and limb when you purchase your travel tickets with your Rate Advantage Platinum Card.

Other Benefits

In addition to being a great travel card, the Rate Advantage Platinum Card includes other great perks:

• No Annual Fee: Benefits like the ones on this card are often reserved for cards that have annual fees—sometimes hundreds of dollars. USAA’s Rate Advantage Platinum Card has no annual fees. Zero. Zilch. Nada.
• Extended Warranty: When making purchases with your USAA Rate Advantage Platinum Card, you can get an extra year of warranty protection beyond what the manufacturer offers, applicable to warranties of three years or less. For major appliances, electronics, or furniture purchases, this protection can be worth hundreds of dollars.
• Cell Phone Protection: Using your USAA Rate Advantage Platinum Card to pay your monthly cell phone bill allows you to receive up to $500 in reimbursement from USAA if your phone is damaged or stolen. This benefit alone is worth $120-$180 annually compared to typical carrier insurance plans, and it’s free just for paying your phone bill with this card.
• Purchase Protection: This benefit reimburses you for purchases that are stolen or damaged within 90 days of purchase, up to $1,000.

Note: Some of these benefits require pre-enrollment with USAA by calling 1-844-288-2141.

Where USAA’s Rate Advantage Platinum Card Really Stands Out

The fact that you can get all of these benefits in one card is great, but the fact that USAA does not charge annual fees for obtaining them is surprising. Cards with comparable interest rates and protections without an annual fee are increasingly rare; some issuers charge $100 or more in annual fees for cards with these perks.

The “no rewards” question answered: Correct, this card doesn’t earn points or cash back. But here’s the reality: If you ever carry a balance—even occasionally—the interest you save with USAA’s low rate may exceed what you’d earn in rewards. A $3,000 balance carried for just three months costs you $150 in interest on a typical rewards card versus $75 on this card. That $75 savings is equivalent to earning 2% back on $3,750 in purchases. The longer you carry a balance, the more the math moves in favor of saving on interest instead of earning rewards.

The math favors low interest when you carry balances: If you frequently carry a balance or need the flexibility to do so, the interest savings from a low-rate card can quickly outweigh rewards earnings. The longer you carry a balance and the larger that balance, the more the math shifts in favor of saving on interest rather than earning rewards. However, if you consistently pay in full every month, a rewards card will deliver more value.

Military Protections & SCRA Benefits

When it comes to the Servicemembers Civil Relief Act (SCRA) and other Congressionally mandated legal protections, USAA goes above and beyond in all its account types to comply with and even exceed the law.

USAA and MLA

The Military Lending Act protects servicemembers from certain predatory lending practices, such as loan interest rates exceeding 36%, requirements mandating arbitration for disputes and more.

USAA will automatically apply any MLA protections to all of your accounts, including credit cards. The MLA does not apply to certain secured loans, such as home mortgages and car loans.

USAA and SCRA

Among other protections, the SCRA caps interest rates at no more than 6% for debts that were incurred by servicemembers prior to entering active duty. USAA takes that a step further by reducing rates on SCRA-qualifying debt down to 4%, which is 2% better than the law requires.

The SCRA-protected debt rate applies for the entire time a military member is on active duty. For National Guard and reservists, these protections kick in when activated on military orders.

SCRA protections apply to auto, personal, and home equity loans, as well as mortgages and all USAA credit card products, including the Rate Advantage Platinum Card.

What this means in practice: If you opened this card before entering active duty and are now carrying a $10,000 balance, SCRA protections would reduce your interest from ~12% to 4%, saving you nearly $800 annually. Unlike MLA protections, you will have to proactively request SCRA benefits. You can do this by calling USAA or by applying at USAA’s SCRA request page here.

You can read more about MLA and SCRA credit card perks in our guide.

Applying and Approval Process

USAA members with a good or better credit score (670+) will usually qualify for the USAA Rate Advantage Platinum Card.

USAA Membership

USAA is a financial institution reserved for people who have certain relationships to the U.S. military or a federal government agency, including:

• Active duty, National Guard, or reserve servicemembers
• Veterans with a General Under Honorable Conditions discharge or better
• Current and former employees of certain federal agencies, including the FBI and the State Department
• Contracted Cadets and Midshipmen at military academies
• Officer and Warrant Officer candidates
• Spouses and children of the above (as long as they are USAA members)

If you qualify for USAA membership, this card is a no-brainer. These rates and benefits simply aren’t available to the general public. You can check out more about joining USAA here.

How to Apply

Applying for the USAA Rate Advantage Platinum Card is super easy. You can see current offers and apply online here.

If you are not yet a USAA member, you can apply for membership as you apply for the card. In many cases, approval for the card will be instantaneous; however, you should allow a few days if USAA requires additional information to process your application.

How the Rate Advantage Platinum Card Compares to Others

The USAA Rate Advantage Platinum Card is a well-rounded card with unique benefits and no annual fee. This combination places the card at the head of the pack for military-affiliated credit card holders.

Feature	USAA Rate Advantage Platinum	NFCU Platinum	Chase Freedom Unlimited
Annual Fee	$0	$0	$0
Interest Rate	11.15%-25.15% (variable)	10.99% – 18.00% (variable)	18.74%-28.24% (variable)
Intro APR	0% for 15 months (balance transfers)	0.99% for 12 months (balance transfers made in the first 60 days)	0% for 15 months (purchases & balance transfers)
Balance Transfer Fee	5%	$0	3% or $5, whichever is greater, on transfers made in the first 60 days; $5 or 5%, whichever is greater, after that
Rewards	None	None	5% cash back on purchases made in the Chase Travel portal, 3% back at drugstores and dining (including takeout and eligible delivery services), and 1.5% back on other purchases
Cell Phone Protection	Up to $500	No	No
Rental Car Insurance	Up to 31 days	Up to 15 days	Up to 31 days
Trip Cancellation (Military Orders)	Yes	No	Yes
Foreign Transaction Fees	None	None	3%
Best For	Lowest long-term interest + comprehensive protections	Zero balance transfer fees	Cash back rewards

USAA Rate Advantage Platinum Card vs. NFCU Platinum Credit Card

USAA’s Rate Advantage Card is similar to Navy Federal Credit Union’s Platinum Credit Card since both offer low interest rates with travel protections. Here is a run-down of what we found when we compared the cards:

• NFCU’s Platinum Card had a lower interest rate at both the low end and the maximum rate
• USAA Rate Advantage had a better introductory offer (15 months at 0% interest for balance transfers vs. 12 months at 0.99% for NFCU’s Platinum Card)
• USAA had more comprehensive travel protections, though both included rental car insurance
• NFCU Platinum Card has no balance transfer fees, while USAA charges 5% for balance transfers

Choose USAA if: You value comprehensive travel protections and cell phone insurance and you’re willing to pay the 5% balance transfer fee for a true 0% intro rate.

Choose NFCU if: You’re primarily focused on consolidating debt and want to avoid balance transfer fees, even if it means paying 0.99% interest during the intro period.

You can read more about NFCU’s credit cards in our article in our full guide here.

USAA Rate Advantage vs. Chase Freedom Unlimited

USAA’s Rate Advantage Card is also comparable to the Chase Freedom Unlimited Card. Both cards include travel and purchase protections with no annual fee. Both cards also offer an introductory 0% interest rate for the first 15 months; however, Chase applies this introductory rate to both balance transfers and purchases.

There are also some key differences in the cards:

• USAA’s Rate Advantage Card has a much better interest rate (APR), saving you money if you’re carrying a balance and paying off purchases over time.
• Chase Freedom Unlimited offers 1.5% unlimited cash back on purchases and up to 5% back in some spending categories, while the USAA Rate Advantage Platinum does not have a rewards program
• USAA’s Rate Advantage Platinum protects your cell phone from damage and theft, while Chase Freedom does not have a comparable program, though many of the other travel and purchase protections are virtually identical

Choose USAA if: You occasionally carry balances, value cell phone protection, or want the security of the lowest possible interest rate in case of financial emergencies.

Choose Chase if: You never carry a balance and want to maximize cash-back rewards on everyday spending. The 1.5%-5% cash back is valuable, but make sure to calculate this against any balances you might be carrying, as those eat into your rewards.s.

Check out our full review of the Chase Freedom Unlimited to learn more.

Who Should Consider This Card vs. Alternatives

The USAA Rate Advantage Card is best for customers who:

• Qualify for USAA membership
• Prioritize low interest rates over reward points and cash back programs
• Carry credit card balances, even occasionally
• Want comprehensive protection on large purchases and travel without paying annual fees
• Value having a financial safety net for unexpected expenses
• Are building or rebuilding credit and want to minimize interest costs

You may want to consider another card if you:

• Pay off your balance in full every month and want to maximize rewards (consider Capital One Venture or Chase Sapphire Preferred for travel rewards)
• Prefer cash back rewards and never carry balances (Chase Freedom Unlimited offers 1.5%-5% cash back, depending on spending categories)
• Don’t have access to a USAA membership
• Are looking for premium travel perks like lounge access (cards like the Platinum Card® from American Express or Chase Sapphire Reserve® may be better fits)

Choosing the right credit card should be based on your personal preferences and individual situation. If credit cards are part of your spending pattern and you need to consolidate debt or finance large purchases over time, USAA’s Rate Advantage Platinum Card can help fulfill your financial objectives.

Maximizing Your Benefits

When you have more than one credit card, choosing when to use a card is key. You can maximize the benefits you receive from this card by using it for the following expenses:

• Large Purchases: USAA’s Rate Advantage Credit Card is ideal for making large purchases, due to its purchase protection and extended warranty options. Make sure you register these purchases with USAA for maximum protection. Whether it’s furniture, appliances, or electronics, the extended warranty alone can save you hundreds in potential repair costs.
• Travel Expenses: You might not think about travel protections and insurance, but when you need them, you really need them. To maximize your benefits from the USAA Rate Advantage Platinum, use it to book travel expenses, including tickets and rental cars. The trip cancellation coverage for military order changes alone makes this worthwhile.
• When You Need to Carry a Balance: Life happens, and that means we may occasionally need to carry a credit card balance even when we don’t want to. When this happens, use your USAA Rate Advantage Platinum Card. Chances are that it will be the card with the lowest interest rate in your portfolio. Of course, if you pay off your balance in full every month, you won’t pay interest at all.
• Cell Phone Charges: Make sure you pay your monthly cell phone bill with this card. If you’re as clumsy as I am, the built-in $500 protection against theft and damage will come in handy—and it’s worth $120-180 per year compared to carrier insurance plans.
• Strategic card pairing: Consider using this card alongside a rewards card. Use a rewards card (like Capital One Venture or Chase Freedom Unlimited) for everyday purchases you’ll pay off immediately, and use the Rate Advantage Platinum for large purchases, travel bookings, and anything you might need to carry a balance on. This strategy gives you the best of both worlds: rewards when you can pay immediately, low interest when you can’t.

Bottom Line

USAA’s Rate Advantage Platinum Card is an everyday workhorse card with low interest rates and great protections. That makes it an excellent choice for most people who use credit cards.

The hardest part of getting this card is qualifying for USAA membership, but if you have a nexus to the military, you’ve got that covered.

While the card doesn’t have any rewards, its low interest rates and robust travel and purchase protections make it an ideal card for many consumers—especially military families who face financial unpredictability and need a reliable, low-cost safety net. The combination of no annual fee, comprehensive protections, and interest rates that can save you hundreds or thousands of dollars annually is genuinely hard to beat.

Fact-checked by Ryan Smith.

About Post Author