The USAA Rewards World MasterCard is a credit card that caters to military personnel and the families of such individuals. Anyone who is currently serving in the military, has honorably served in the military, or is the spouse or child of someone who has served in the military or has insurance with USAA, may apply for this product.
Service in the military includes the National Guard and reserves programs. Any person in this class can enjoy the multitude of benefits that the USAA Rewards World MasterCard has to offer.
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How People can use the USAA Rewards World MasterCard
Someone who gains approval for a USAA Rewards World MasterCard can use it in a wide variety of ways. Naturally, one can purchase goods and services from various merchants such as department stores, jewelry establishments, automobile dealers, gas stations, grocery stores, rental car companies, airlines and the like.
A card owner may also use this flexible product to order online products and services. He or she can use the card to secure monthly memberships or to sign up for auto pay for electric bills, insurance policies and cell phone service.
Additionally, the cardholder can use the USAA Rewards World MasterCard in thousands of locations across the globe. Any merchant that accepts the MasterCard logo will accept this card.
Qualifying for the USAA Rewards World MasterCard
Qualifying for the USAA Rewards World MasterCard is contingent upon several factors. First, the applicant must be at least 18 years of age, as obtaining a credit card requires an electronic contract signature. Minors are not legally eligible to sign contracts. Applicants for this card must also be United States citizens.
Furthermore, someone who would like this particular credit card would need to have military or USAA affiliation. As stated previously, the individual must be a military person, a relative of a USAA member or be somehow affiliated with a veteran.
Approval for the USAA Rewards World MasterCard is also contingent upon the applicant’s credit score.
The average credit score for approved customers is approximately 669. Some applicants have received cards with slightly lower scores. The issuing bank will consider several factors, such as the amount of open credit accounts the person has and his or her debt to income ratio.
A credit score of over 669 is a good score as per the credit bureaus. Anything over that is an excellent score. To maintain a good or excellent credit rating, the consumer must have little to no missed payments and late payments. This person will also have very few credit inquiries and low utilization of the available balance.
Staying under 50 percent of the available balance works to keep the score at an elite level.
Applying for the USAA Rewards World MasterCard
A person who desires to obtain a USAA Rewards World MasterCard may do so by clicking here, or by calling 1-800-531-USAA. The applicant will select the USAA Rewards World MasterCard and transfer to a page that will ask him or her of the qualifying factors. The first question the application will ask is whether the applicant is a USAA member.
The application will proceed to the next step regardless of the answer to this portion of the application.
The next part of the application will ask the applicant about military affiliations. If the person is not himself or herself an active or retired member of the military, he or she must know someone who is. The application will ask for information about the person who is enlisted or is a USAA covered spouse or parent.
The applicant will need to provide personal information such as that person’s name, address and social security number. If the individual passes that stage of the application, he or she will go on to enter information about his or her address, employment, banking situation, social security number and the like. The system will conduct a credit check and personal information verification. In some cases, the applicant may receive instant approval.
An immediate denial is also a possibility. In rare circumstances, the applicant will get a message that the bank needs to conduct some additional verification or processing before it can return an answer. An immediately approved card should arrive within seven to 10 business days.
Features and Benefits of the USAA Rewards World MasterCard
The USAA Rewards World MasterCard has a multitude of features and benefits that approved members will enjoy. The following are the benefits are most outstanding with this product:
No Annual Fee-
Cardholders can enjoy the benefit of not having an annual fee attached to their accounts. This gives each person access to more of their credit limits.
Abundant Reward Earning Potential-
Cardholders can earn 2,500 points just for making their first purchase once they receive the card. Additionally, cardholders can earn one point for every dollar they spend on any purchases. These points have no limits and no expiration date. Therefore, the customers can redeem them at any time.
Points Redeemable from a Mobile Phone-
An individual who has earned points can redeem such points at any time he or she desires. Redemption is easy, and the cardholder can complete the process at here or from a home computer or a mobile phone. Getting prizes has never been easier.
Multiple Point Redemption Opportunities-
Cardholders can use their points to purchase airplane tickets, merchandise, gift certificates, and cash, or to donate to charities. The company does not restrict the airplane ticket purchases by assigning blackout dates, so the cardholder can reserve a flight for any time of the year.
Cash Rewards Option-
Cardholders may choose the cash rewards option. With this option, the customer can earn a 1.25 percent cash rebate on all of his or her purchases. No limit is placed on the cash rewards earning potential, and the cardholder will receive the funds every January. Furthermore, by shopping through the Membership medium, the client can earn additional cash rewards from this card.
Ultra Low Annual Percentage Rate-
USAA Rewards World MasterCard cardholders can enjoy some of the lowest APRs in the market. Some members can enjoy having an annual percentage rate of 9.90 percent for purchases, cash advances, and balance transfers. The issuing bank will determine the card holder’s APR at the time of approval.
The bank assigns the APR according to the card holder’s credit score and the market prime rate at the time of approval.
The initial APR can be as high as 25.90 percent.
No Penalty APR-
The USAA Rewards World MasterCard does not have a penalty APR. Most credit card companies punish a person who has made a late payment or gone over his or her limit. This company does not believe in punishing debtors for simple mistakes. All cardholders are exempt from penalty APRs.
Exceptional Customer Service-
Any person who owns a credit card with USAA is guaranteed some of the best customer service in the nation. USAA was ranked high amongst credit card providers for providing the most satisfying overall customer experience. Customer service representatives are always available to help with any problems, questions or concerns. The customer can reach them in various ways, and the response time is excellent.
Fees Associated with the USAA Rewards World MasterCard
Because of the great benefits and features that a USAA Rewards World MasterCard cardholder receives, some fees are attached to certain transactions. Each balance transfer will have a 3 percent fee attached to it, with a total fee of no more than $200. Each cash advance transaction will also have a 3 percent fee with the same $200 limit on the total fee. Additionally, the bank will charge a 1 percent fee for foreign transactions.
The bank will issue a late payment fee of up to $35 at its discretion. It may assess a $25 late charge to a first time late payment that the customer submits after the first six billing cycles. Otherwise, the fee is $35.
Any payments that the customer makes the bank returns will accumulate a $35 dollar charge. The bank encourages cardholders to make sure that the funds for the credit card payments are accessible in their accounts.
The bank will not issue an over-the-limit fee for customers that over extend the balances on their credit cards. There is also no annual fee assessed to the account. USAA attempts to make the USAA Rewards World MasterCard an enjoyable card for all who have it.
Online Account Management
Cardholders can manage their accounts by registering and creating a username and password through “My Account”.
From there, the person will be able to activate his or her credit card, monitor transactions and balances, keep track of awards, change personal information and more. Users may also register for mobile access from a cell phone or iPad.
Disputes, Lost Cards, and Customer Service
The customer service team is always available to help a cardholder with any problem that may arise. Any person who loses his or her card can contact someone by dialing 1-800-531-USAA or 210-282-8879 collect from overseas. The individual may also find a resolution at www.usaa.com. A representative will deactivate the current card and issue another card as quickly as possible.
Those who have disputes about fraudulent or unapproved transactions may discuss the matter by calling the same number. USAA will investigate the transaction to see if the merchant can validate it. If it finds that the charge was indeed fraudulent, it will issue a credit to the cardholder. The company will not hold the client liable for any fraudulent activity.
A cardholder can also use the toll free number to change address information on the card, request a credit line increase, or ask general questions about the bill or services. The individual may also request to have his or her card canceled. USAA will make every effort to cancel the card. The consumer should stop using the card upon notice of desired closure.
Additionally, that person should be sure to pay the balances due on the card within 90 days of account closure. This will ensure that the customer’s credit standings reaming positive will all three credit bureaus.
USAA Rewards World MasterCard
Anyone who is in the military or associated with the military and has a good credit score can apply for this card and enjoy the benefits. With no annual fee, a low annual percentage rate, and an extremely generous credit line, a person can achieve just about anything with the USAA Rewards World MasterCard.
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