Are you considering a USAA credit card and wondering just how easy it is to get one? You've come to the right place! Getting a credit card, especially one with the reputable backing of USAA, can be a significant step toward financial stability and rewards. But like any financial product, there are specific criteria to meet. Let's break down the process step-by-step to see if a USAA credit card is within your reach.
How Easy Is It to Get a USAA Credit Card? A Comprehensive Guide
The ease of getting a USAA credit card largely depends on two primary factors: your eligibility for USAA membership and your creditworthiness. If you meet the membership criteria and have a decent credit profile, the process can be quite straightforward. If not, it might be a bit more challenging.
Step 1: Determine Your USAA Membership Eligibility
Before you even think about which credit card to apply for, you must first determine if you're eligible for USAA membership. This is the most crucial initial hurdle, as USAA exclusively serves the military community and their families.
Sub-heading: Who is Eligible for USAA Membership?
USAA's membership is generally open to:
- Current and Former Military Members: This includes all active-duty, retired, and honorably discharged veterans of the U.S. Army, Navy, Air Force, Marines, Coast Guard, National Guard, and Reserves.
- Eligible Family Members: This is a broad category that can include spouses, widows, widowers, and un-remarried former spouses of USAA members who had USAA auto or property insurance while married. It also extends to children whose parents have or had USAA auto or property insurance.
- Cadets and Midshipmen: Those attending U.S. service academies, in advanced ROTC or on ROTC scholarship, and officer candidates within 24 months of commissioning are also eligible.
If you don't fall into one of these categories, unfortunately, a USAA credit card is likely not an option for you. Don't despair, though; many other excellent credit cards are available from other issuers!
Step 2: Assess Your Creditworthiness
Once you've confirmed your USAA membership eligibility, the next step is to evaluate your credit health. Like any other lender, USAA will assess your credit history to determine your reliability as a borrower.
Sub-heading: What Credit Score Do You Need?
While USAA doesn't publicly state a minimum credit score for all their cards, data suggests that applicants with Good to Excellent credit (typically FICO scores of 670-850) have the best approval odds for their unsecured credit cards.
- USAA Preferred Cash Rewards Credit Card: The average credit score for members who matched with this card or similar cards is around 687, with 813 being the most common.
- USAA Rate Advantage Credit Card: The average credit score for members who matched with this card or similar cards is around 696, with 752 being the most common.
It's important to remember that credit score is just one factor. USAA will also look at:
- Payment History: A consistent record of on-time payments is vital.
- Credit Utilization: How much of your available credit you're using. Keeping this low (ideally under 30%) is beneficial.
- Length of Credit History: A longer history generally demonstrates more experience managing credit.
- Credit Mix: Having a variety of credit accounts (e.g., credit card, auto loan, mortgage) can be a positive.
- Income and Debt: Your ability to repay new debt based on your income and existing obligations.
Sub-heading: What if Your Credit Score Isn't Perfect?
Don't lose hope if your credit isn't in the "Excellent" range! USAA does offer options for those looking to build or rebuild credit:
- Secured Credit Cards: These cards require a security deposit, which often acts as your credit limit. They are an excellent way to establish a positive payment history. USAA offers secured credit card options that can help you improve your credit over time.
- Lower APR Cards: While they may not have rewards, some USAA cards like the USAA Rate Advantage Credit Card are designed to minimize interest payments, which can be helpful if you occasionally carry a balance.
Step 3: Choose the Right USAA Credit Card for You
USAA offers a variety of credit cards, each with different features and benefits. Selecting the right one for your financial habits is key.
Sub-heading: Popular USAA Credit Card Options
- USAA Preferred Cash Rewards Visa Signature® Card: A straightforward cash-back card offering unlimited 1.5% cash back on all purchases, no annual fee, and no foreign transaction fees. It also offers Auto Deductible Reimbursement (up to $200).
- USAA Eagle Navigator® Visa Signature® Credit Card: Geared towards travelers, this card offers bonus points on travel purchases and other benefits, though it typically comes with an annual fee.
- USAA Rate Advantage Credit Card: Designed for those who prioritize a low interest rate, with no annual fee and potentially a very competitive APR, especially for active duty military members (as low as 4% under SCRA).
- USAA Cashback Rewards Plus American Express® Card: This card offers higher cash back percentages on specific categories like gas and military base purchases, and groceries, within certain spending caps.
Consider your spending habits, whether you carry a balance, and if you travel frequently when making your choice.
Step 4: Gather Necessary Information for Application
Once you've picked your card, it's time to prepare for the application. Having all your information ready will make the process smooth and quick.
You'll typically need:
- Full Name and Date of Birth
- Social Security Number
- Country of Citizenship
- Contact Information (address, phone, email)
- Employment Status and Annual Income (including nontaxable income)
- Housing Expenses (mortgage or rental payments)
- Bank Account Information
Step 5: Submit Your Application
USAA offers convenient ways to apply for a credit card.
Sub-heading: Online Application Process
The easiest way to apply is generally through the USAA website.
- Log in to your USAA account (or create one if you're a new member).
- Navigate to the Credit Cards section.
- Select the credit card you wish to apply for.
- Click "Apply Now" or a similar prompt.
- Carefully fill out the online application form, providing all requested information accurately.
- Review your application before submitting.
- Submit your application.
Sub-heading: What Happens After Submission?
In many cases, you'll receive an instant decision at the end of the online application process.
- Approval: If approved, you'll see your new credit limit displayed. Your card will then be mailed to you.
- Pending Review: Sometimes, USAA may need more information or time to review your application. You might receive an email or a letter with instructions.
- Denial: If your application is denied, USAA is required to send you a letter explaining the reasons for the denial within 30 days. This letter can be valuable in understanding what areas of your financial profile you might need to improve.
Step 6: Receive and Activate Your Card
If approved, your new USAA credit card will arrive in the mail.
Sub-heading: Activating Your Card
To activate your card:
- Log in to your USAA account on usaa.com or the USAA Mobile App.
- Navigate to your credit card account.
- Look for an option like "Activate Card" or "My Card."
- Follow the on-screen prompts to complete the activation.
Once activated, you can start using your USAA credit card!
Overall Ease of Getting a USAA Credit Card
So, how easy is it? For eligible military members and their families with good to excellent credit, it's generally very easy and straightforward. The application process is streamlined, and online decisions are common.
However, if you're not eligible for membership, it's impossible. If you are eligible but have a limited or poor credit history, it will be more challenging, though USAA does offer secured card options to help you build credit.
The key takeaway is that USAA prioritizes its military community. If you fit that demographic and have responsible credit habits, a USAA credit card is likely well within your reach.
10 Related FAQ Questions
Here are 10 frequently asked questions, all starting with "How to," along with their quick answers:
How to check my USAA credit card application status?
You can typically check your USAA credit card application status by logging into your USAA online account or by calling USAA customer service directly.
How to improve my credit score to qualify for a USAA credit card?
To improve your credit score, focus on paying all your bills on time, keeping your credit utilization low (under 30%), avoiding opening too many new accounts at once, and disputing any errors on your credit report.
How to become a USAA member if I'm not military?
USAA membership is primarily for current and former military members and their eligible family members (spouses, widows/widowers, un-remarried former spouses, and children). If you don't fall into these categories, you cannot become a USAA member.
How to activate my new USAA credit card?
You can activate your USAA credit card online through usaa.com, via the USAA Mobile App, or by calling the activation number provided on the card or in the card's welcome packet.
How to increase my credit limit on a USAA credit card?
You can request a credit limit increase through your USAA online account or by contacting customer service. USAA generally considers factors like your payment history, income, and overall credit profile.
How to avoid foreign transaction fees with a USAA credit card?
Many USAA credit cards, such as the Preferred Cash Rewards Visa Signature® Card, do not charge foreign transaction fees, making them ideal for international travel. Always check the specific card's terms and conditions.
How to use USAA credit card rewards?
USAA credit card rewards can typically be redeemed for cash back, travel, gift cards, or merchandise through your USAA online account or mobile app.
How to report a lost or stolen USAA credit card?
You can report a lost or stolen USAA credit card immediately by logging into your USAA online account or by calling USAA's dedicated lost/stolen card support line.
How to understand the interest rate on my USAA credit card?
Your USAA credit card's interest rate (APR) is usually variable and depends on your creditworthiness. You can find your specific APR on your cardholder agreement, monthly statement, or by logging into your online account.
How to find out if I am pre-approved for a USAA credit card?
USAA may send pre-approval offers to eligible members via email or mail. You can also sometimes check for pre-qualification offers on their website, which typically involves a soft credit pull that won't impact your credit score.
