6 USAA Rate Advantage Card Benefits You Didn’t Know About
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Written by
Joseph Hostetler
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Edited by
Emily Gadd
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Reviewed by
Jasmin Baron
If you’re looking to relocate some high-interest debt, you may have stumbled upon the USAA Rate Advantage Credit Card. The card’s crown jewel is its 0% intro APR for 15 months on balance transfers (followed by a 11.15% to 25.15% variable regular APR).
But the card has plenty more to offer. It’s not just one of the best USAA® credit cards; some aspects of this no-annual-fee credit card are more generous than premium cards issued by other banks that charge hundreds of dollars per year.
Here’s everything you need to know about Rate Advantage Card benefits.
1. Purchase Protection
The Rate Advantage Card is great for large expenses thanks to its duo of purchase protections. Use the card for your purchase, and you’ll automatically receive:
- Extended warranty protection: The card will double an item’s manufacturer’s warranty (maximum one year) for warranties of three years or less. The maximum value you can receive from this perk is $15,000 per claim, or $50,000 per account.
- Purchase security: Eligible items are covered up to 90 days from the purchase date against theft or damage, up to $1,000 per claim (max $10,000 per account).
An extended warranty is one of the credit card perks I often forget to use, but it can add a lot of value. I recently submitted an extended warranty claim for my leaking Eight Sleep mattress topper and was reimbursed a whopping $1,400.
2. Cell Phone Coverage
If you currently pay for cell phone coverage, the Rate Advantage Card’s complimentary cell phone coverage is a real money saver. When you pay your monthly cell phone bill with the card, you’ll get up to $500 in coverage toward theft or damage (maximum $1,000 within a 12-month period).
Just note that you’ll pay a $50 deductible. Also, this coverage is secondary — so if you’ve got personal insurance that covers your damaged phone, this insurance will reimburse you for your deductible.
3. Low Variable APR
Again, the Rate Advantage Card touts a generous intro APR on balance transfers. But its ongoing interest rate is potentially far lower than competitors.
The card has a 11.15% to 25.15% variable regular APR. Its lowest possible APR is more than 7% below other balance transfer cards, like our advertising partner, the Citi Simplicity® Card.
You should strive to never carry a balance month-to-month on your credit card. But if you’ve got to do it, the Rate Advantage Card has the potential to charge you one of the lowest interest rates on the market.
4. Travel Insurance
For a no-annual-fee credit card, the Rate Advantage Card comes with a decent collection of travel insurance. These protections activate when you use your Rate Advantage Card to pay for your travel:
- Rental car insurance: Decline the rental agency’s in-house car insurance, and your card will automatically give you secondary coverage within the US toward damage, theft and some loss-of-use and towing expenses.
- Baggage delay insurance: When your checked bag is delayed by at least four hours during your trip, you’ll be covered up to $100 per day (maximum three days) for reasonable expenses such as clothing, toiletries, a phone charger, etc.
- Trip cancellation and interruption insurance: If you need to cancel or cut short your prepaid nonrefundable travel for a covered reason (think a change in military orders, an illness, accidental injury that requires hospitalization, etc.), you may receive up to $1,500 per covered person. This can include expenses like rental cars, flights and accommodations.
- Travel accident insurance: You and eligible family are covered up to $500,000 for tragedies such as loss of life, loss of senses (such as speech or sight) and loss of body parts.
Credit card travel insurance has come in handy multiple times during my travels. I’ve used it to buy hundreds of dollars in new clothes after my checked bag was delayed for more than a week during a trip to Europe. It was a struggle to be without my bag for so long, but the “free” outfits I got out of it made the hassle totally worth it.
5. No Foreign Transaction Fees
Some credit cards charge fees (generally around 3%) when making purchases outside the US. The Rate Advantage Card does not have any foreign transaction fees, making it a good companion for travel overseas.
6. Access to a Concierge
A dedicated concierge is available any day of the year to help you with tasks like booking travel and securing concert tickets. You can also call if you’d simply like some information for your upcoming trip, like visa requirements and exchange rates.
You can likely find any information that a concierge can provide by scouring the internet — but if you’d like someone to talk you through an aspect of your dining, shopping or travel experience, you can give them a call.
Frequently Asked Questions About USAA Rate Advantage Credit Card Benefits
Does the Rate Advantage Card charge foreign transaction fees?
The Rate Advantage Card doesn’t charge foreign transaction fees.
Who is eligible for the USAA Rate Advantage Card?
To open the Rate Advantage Card, you must be a USAA member. This requires you to be either current or former military, officers of the NOAA and USPHS, an employee of specific federal agencies, faculty of the Merchant Marine Academy or an eligible family member.
What credit score do you need for the Rate Advantage Card?
There is no specific credit score necessary to qualify for the Rate Advantage Card. However, you’ll need at least a good credit score to be eligible to apply, and excellent credit to qualify for the best terms, such as low APR and a large credit limit.
Does the Rate Advantage Card have annual fees or penalty rates?
The Rate Advantage Card doesn’t charge an annual fee, foreign transaction fees or a penalty APR.
