USAA 2.5% Cash Back Credit Card [Update]

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manlymatt83
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Re: USAA Dropping Limitless 2.5% Cashback Rewards Card

Post by manlymatt83 »

galawdawg wrote: Mon Mar 07, 2022 7:22 pm From the notice just sent out by USAA
At USAA, our mission is to serve the financial needs of our members. Over time, we change our offerings to reflect members’ evolving needs and to remain competitive. These changes include simplifying our current offerings to make way for NEW products in the near future. Effective April 26, 2022, your USAA Limitless Cashback Rewards Credit Card ending in XXXX will automatically be converted to the Preferred Cash Rewards VisaÒ Credit Card.

What’s Changing?
Your new Preferred Cash Rewards Visa Credit Card will earn unlimited 1.5% cash back on every Qualifying Purchase. We
recognize that this product change reduces the amount of cash back you will earn on purchases. To show our appreciation for your loyalty, you will automatically earn an additional 1% cash back, totaling 2.5%, on Qualifying Purchases through December 31, 2022. Additionally, tax payments will no longer be eligible for cash back.

What’s Not Changing?
There is no change to your card number, or current Annual Percentage Rate. You can continue using your current card for purchases and recurring bill payments as you normally would.

If you have an existing cash back balance, it will transfer to the new card type.

Additionally, you will continue experiencing the following benefits with your card:
· Rewards that never expire and are redeemable anytime
· No annual fees
· No foreign transaction fees
· Travel, shopping, and identity theft benefits
So it appears that the 2.5% cash back will actually end December 31, 2022.
Suggested in another thread, the Alliant 2.5% back card would be a great replacement for this.
manlymatt83
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Re: USAA 2.5% Cash Back Credit Card Renewals

Post by manlymatt83 »

bogatyr wrote: Mon Mar 07, 2022 7:22 pm I just received notification today that the cash reward rate is being lowered to 1.5% after Dec 31, 2022. I am going to have to start shopping cards again. It was nice to just have one go-to card for almost everything.
Check out the Alliant 2.5% card.
exarkun
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Re: USAA 2.5% Cash Back Credit Card

Post by exarkun »

What’s Changing? Your new Preferred Cash Rewards Visa Credit Card will earn unlimited 1.5% cash back on every Qualifying Purchase1. We recognize that this product change reduces the amount of cash back you will earn on purchases. To show our appreciation for your loyalty, you will automatically earn an additional 1% cash back, totaling 2.5%, on Qualifying Purchases through December 31, 2022. Additionally, tax payments will no longer be eligible for cash back.
exarkun
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Re: USAA 2.5% Cash Back Credit Card Renewals

Post by exarkun »

What’s Changing? Your new Preferred Cash Rewards Visa Credit Card will earn unlimited 1.5% cash back on every Qualifying Purchase1. We recognize that this product change reduces the amount of cash back you will earn on purchases. To show our appreciation for your loyalty, you will automatically earn an additional 1% cash back, totaling 2.5%, on Qualifying Purchases through December 31, 2022. Additionally, tax payments will no longer be eligible for cash back.
manlymatt83
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Re: USAA 2.5% Cash Back Credit Card

Post by manlymatt83 »

exarkun wrote: Mon Mar 07, 2022 7:30 pm What’s Changing? Your new Preferred Cash Rewards Visa Credit Card will earn unlimited 1.5% cash back on every Qualifying Purchase1. We recognize that this product change reduces the amount of cash back you will earn on purchases. To show our appreciation for your loyalty, you will automatically earn an additional 1% cash back, totaling 2.5%, on Qualifying Purchases through December 31, 2022. Additionally, tax payments will no longer be eligible for cash back.
It ends on 12/31.
brokendirtdart
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Re: USAA 2.5% Cash Back Credit Card

Post by brokendirtdart »

I was just coming to post this.

That was the only reason I've been using my USAA card. Back to the Fido 2% card in January I guess.
deskjockey
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Re: USAA 2.5% Cash Back Credit Card Renewals

Post by deskjockey »

Yeah, I got the same letter from USAA. In my case, my card is up for renewal next month, so the letter said the changes were effective 26 April, with the 2.5% cash back extended as a "favor" through the end of the year.
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Gort
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Re: USAA 2.5% Cash Back Credit Card

Post by Gort »

manlymatt83 wrote: Mon Mar 07, 2022 7:31 pm
exarkun wrote: Mon Mar 07, 2022 7:30 pm What’s Changing? Your new Preferred Cash Rewards Visa Credit Card will earn unlimited 1.5% cash back on every Qualifying Purchase1. We recognize that this product change reduces the amount of cash back you will earn on purchases. To show our appreciation for your loyalty, you will automatically earn an additional 1% cash back, totaling 2.5%, on Qualifying Purchases through December 31, 2022. Additionally, tax payments will no longer be eligible for cash back.
It ends on 12/31.
The additional 1% cash back loyalty appreciation ends on 12/31. The 1.5% cash back continues after that.
Last edited by Gort on Mon Mar 07, 2022 7:54 pm, edited 1 time in total.
Fpdesignco
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Re: USAA 2.5% Cash Back Credit Card

Post by Fpdesignco »

brokendirtdart wrote: Mon Mar 07, 2022 7:41 pm I was just coming to post this.

That was the only reason I've been using my USAA card. Back to the Fido 2% card in January I guess.

I think USAA misunderstands how many customers they will likely loose as soon as that reward is gone. Oh well..
tj
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Re: USAA 2.5% Cash Back Credit Card

Post by tj »

Fpdesignco wrote: Mon Mar 07, 2022 7:48 pm
brokendirtdart wrote: Mon Mar 07, 2022 7:41 pm I was just coming to post this.

That was the only reason I've been using my USAA card. Back to the Fido 2% card in January I guess.

I think USAA misunderstands how many customers they will likely loose as soon as that reward is gone. Oh well..
I doubt they care. This product has been a loss leader for years. That's why nobody new could apply for it.
Silk McCue
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Re: USAA 2.5% Cash Back Credit Card Renewals

Post by Silk McCue »

deskjockey wrote: Mon Mar 07, 2022 7:43 pm Yeah, I got the same letter from USAA. In my case, my card is up for renewal next month, so the letter said the changes were effective 26 April, with the 2.5% cash back extended as a "favor" through the end of the year.
Same here. Ugh.

Cheers
brokendirtdart
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Re: USAA 2.5% Cash Back Credit Card

Post by brokendirtdart »

tj wrote: Mon Mar 07, 2022 7:50 pm
Fpdesignco wrote: Mon Mar 07, 2022 7:48 pm
brokendirtdart wrote: Mon Mar 07, 2022 7:41 pm I was just coming to post this.

That was the only reason I've been using my USAA card. Back to the Fido 2% card in January I guess.

I think USAA misunderstands how many customers they will likely loose as soon as that reward is gone. Oh well..
I doubt they care. This product has been a loss leader for years. That's why nobody new could apply for it.
I don't disagree, but this card and the fact I was moving around all the time was also the only reason I kept my direct deposit with USAA.

Now that I'm retired and only have one more move left(knocks on wood), my desire to shop around some more intensifies.
Last edited by brokendirtdart on Mon Mar 07, 2022 8:58 pm, edited 1 time in total.
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Re: USAA 2.5% Cash Back Credit Card [Update]

Post by LadyGeek »

I merged galawdawg's and OU812?'s threads into the ongoing discussion.

(Thanks to the member who reported the post and provided a link to this thread.)
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et14x
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Re: USAA 2.5% Cash Back Credit Card [Update]

Post by et14x »

I got the same 😢 it was a good run while it lasted.

I did get my tax payment done a few weeks ago while it still qualified. Looks like that is ending too.
Dukethegator
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Re: USAA 2.5% Cash Back Credit Card [Update]

Post by Dukethegator »

USAA's banking tech has fallen behind and without this card I don't really see a reason to keep the banking there. That's mistake on their part.
criticalmass
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Re: USAA 2.5% Cash Back Credit Card

Post by criticalmass »

Fpdesignco wrote: Mon Mar 07, 2022 7:25 pm Just a note,

Just got a letter from USAA stating that the Unlimited 2.5 % card is getting converted to their Preferred Rewards Cashback card on April 26th 2022. Second to that they will keep unlimited 2.5% cashback, however they are removing the ability to pay taxes using the card and get rewards after that switch takes place. They state these terms will last until December 31st 2022, so I am guessing 2.5% unlimited is dead next year.
If tax payments can still get 2.5% cashback through April 26, that is still a win for the current tax season. I'm already preparing to switch general spending to another card for higher cashback in the near future. Although Limitless Cash Rewards was a darn good card, it had several shortcomings, including no contactless card (the entire USAA company can't handle contactless technology, although this is partially mitigated with paying via phone) and no ability to upgrade from Platinum to Signature, despite having credit limits well beyond the Signature level.

When USAA ended new enrollments in 2017, the 2.5% was on borrowed time and I'm surprised it lasted another 5 years. Last summer's removal of the DD requirement was another signal changes were afoot.

I'm also still surprised that the PenFed Cash Rewards card still pays 5% on fuel paid at the pump--that card has not been open to new applications for nearly a decade but is still chugging along (albeit without the original 1.25% general cashback, which was excellent in the mid 2000s).
brokendirtdart
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Re: USAA 2.5% Cash Back Credit Card

Post by brokendirtdart »

criticalmass wrote: Mon Mar 07, 2022 10:49 pm
Fpdesignco wrote: Mon Mar 07, 2022 7:25 pm Just a note,

Just got a letter from USAA stating that the Unlimited 2.5 % card is getting converted to their Preferred Rewards Cashback card on April 26th 2022. Second to that they will keep unlimited 2.5% cashback, however they are removing the ability to pay taxes using the card and get rewards after that switch takes place. They state these terms will last until December 31st 2022, so I am guessing 2.5% unlimited is dead next year.
If tax payments can still get 2.5% cashback through April 26, that is still a win for the current tax season. I'm already preparing to switch general spending to another card for higher cashback in the near future. Although Limitless Cash Rewards was a darn good card, it had several shortcomings, including no contactless card (the entire USAA company can't handle contactless technology, although this is partially mitigated with paying via phone) and no ability to upgrade from Platinum to Signature, despite having credit limits well beyond the Signature level.
I'm just about 97.5% sure that tax payments have been capped at 1% since the inception. Payments through processing apps such as Paypal fell from 2.5% sometime within the last yearish as well.

Edit to add an ancient conversation where people only received 1% for tax payments. Comments starts around post #30 https://www.flyertalk.com/forum/credit- ... nly-3.html

I've used my Fido 2% card for tax payments and they almost regularly have bonus point offerings come up in tax season. This year it was an addition .4% after an $800 spend.
Fpdesignco
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Re: USAA 2.5% Cash Back Credit Card

Post by Fpdesignco »

brokendirtdart wrote: Tue Mar 08, 2022 6:08 am
criticalmass wrote: Mon Mar 07, 2022 10:49 pm
Fpdesignco wrote: Mon Mar 07, 2022 7:25 pm Just a note,

Just got a letter from USAA stating that the Unlimited 2.5 % card is getting converted to their Preferred Rewards Cashback card on April 26th 2022. Second to that they will keep unlimited 2.5% cashback, however they are removing the ability to pay taxes using the card and get rewards after that switch takes place. They state these terms will last until December 31st 2022, so I am guessing 2.5% unlimited is dead next year.
If tax payments can still get 2.5% cashback through April 26, that is still a win for the current tax season. I'm already preparing to switch general spending to another card for higher cashback in the near future. Although Limitless Cash Rewards was a darn good card, it had several shortcomings, including no contactless card (the entire USAA company can't handle contactless technology, although this is partially mitigated with paying via phone) and no ability to upgrade from Platinum to Signature, despite having credit limits well beyond the Signature level.
I'm just about 97.5% sure that tax payments have been capped at 1% since the inception. Payments through processing apps such as Paypal fell from 2.5% sometime within the last yearish as well.

Edit to add an ancient conversation where people only received 1% for tax payments. Comments starts around post #30 https://www.flyertalk.com/forum/credit- ... nly-3.html

I've used my Fido 2% card for tax payments and they almost regularly have bonus point offerings come up in tax season. This year it was an addition .4% after an $800 spend.
Negative, it was 2.5% for taxes, used it the last 3 years for federal and state. To CriticalMass point, this does not affect the current tax season. I moved to BoA for all my cards and banking this year (that now seems like a even better idea) using preferred rewards. Two cards, one that is getting 2.62% unlimited, which include tax payments, and a variable card I use for gas and grocery's that is 5.25%.
maxq
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Re: USAA 2.5% Cash Back Credit Card [Update]

Post by maxq »

Guess I'll be shifting credit cards also. By my rough math, USAA reduced my SSA distro by about 40% this year, reduced my Senior bonus by 35%, and will be 'devaluing' the 2.5% cash back card by 40% as of the end of this year. In the meantime, they raised my homeowners insurance by 28% this year (68% in the last two years), and auto insurance by 18%. It seems to me that they'd be better off making an effort to retain loyal customers than airing endless TV ads. :-)
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corn18
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Re: USAA 2.5% Cash Back Credit Card [Update]

Post by corn18 »

maxq wrote: Tue Mar 08, 2022 10:49 am Guess I'll be shifting credit cards also. By my rough math, USAA reduced my SSA distro by about 40% this year, reduced my Senior bonus by 35%, and will be 'devaluing' the 2.5% cash back card by 40% as of the end of this year. In the meantime, they raised my homeowners insurance by 28% this year (68% in the last two years), and auto insurance by 18%. It seems to me that they'd be better off making an effort to retain loyal customers than airing endless TV ads. :-)
I am seriously considering leaving USAA as well. They used to have all my business. Now we are just down to home and auto insurance. And if I leave that, they pay out the $5,600 I have sitting in my SSA.
Consistently sets low goals and fails to achieve them.
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Re: USAA 2.5% Cash Back Credit Card

Post by Dukethegator »

criticalmass wrote: Mon Mar 07, 2022 10:49 pm I'm also still surprised that the PenFed Cash Rewards card still pays 5% on fuel paid at the pump--that card has not been open to new applications for nearly a decade but is still chugging along (albeit without the original 1.25% general cashback, which was excellent in the mid 2000s).
USAA"s Cashback Rewards Plus amex is 5% at the pump up to $3,000/yr and open to applications.
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Re: USAA 2.5% Cash Back Credit Card [Update]

Post by birdog »

corn18 wrote: Tue Mar 08, 2022 10:53 am I am seriously considering leaving USAA as well. They used to have all my business. Now we are just down to home and auto insurance. And if I leave that, they pay out the $5,600 I have sitting in my SSA.
I am in the same boat as you. The only way I can get the $5K in my SSA is to leave. I always thought that was strange from an incentives perspective.
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Re: USAA 2.5% Cash Back Credit Card

Post by criticalmass »

brokendirtdart wrote: Tue Mar 08, 2022 6:08 am
criticalmass wrote: Mon Mar 07, 2022 10:49 pm
Fpdesignco wrote: Mon Mar 07, 2022 7:25 pm Just a note,

Just got a letter from USAA stating that the Unlimited 2.5 % card is getting converted to their Preferred Rewards Cashback card on April 26th 2022. Second to that they will keep unlimited 2.5% cashback, however they are removing the ability to pay taxes using the card and get rewards after that switch takes place. They state these terms will last until December 31st 2022, so I am guessing 2.5% unlimited is dead next year.
If tax payments can still get 2.5% cashback through April 26, that is still a win for the current tax season. I'm already preparing to switch general spending to another card for higher cashback in the near future. Although Limitless Cash Rewards was a darn good card, it had several shortcomings, including no contactless card (the entire USAA company can't handle contactless technology, although this is partially mitigated with paying via phone) and no ability to upgrade from Platinum to Signature, despite having credit limits well beyond the Signature level.
I'm just about 97.5% sure that tax payments have been capped at 1% since the inception. Payments through processing apps such as Paypal fell from 2.5% sometime within the last yearish as well.
I am 100% sure that my tax payments (federal, local) earned 2.5% cashback since I’ve had the card. I’ve confirmed each time after rewards posted. What year(s) did you only earn 1.5%, and what payment provider did you use?
absolute zero
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Re: USAA 2.5% Cash Back Credit Card [Update]

Post by absolute zero »

Same story from me - I've had the card for years, ever since it became available, but I just got a notice saying that it will be converted to a Preferred Cash Rewards Visa and will drop from 2.5% cashback to 1.5% cashback at the end of this year. Sad.
tj
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Re: USAA 2.5% Cash Back Credit Card [Update]

Post by tj »

absolute zero wrote: Sat Mar 12, 2022 12:53 pm Same story from me - I've had the card for years, ever since it became available, but I just got a notice saying that it will be converted to a Preferred Cash Rewards Visa and will drop from 2.5% cashback to 1.5% cashback at the end of this year. Sad.


Y'all had to know this was coming eventually when they nerfed the card for new signups, right?
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corn18
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Re: USAA 2.5% Cash Back Credit Card [Update]

Post by corn18 »

tj wrote: Sat Mar 12, 2022 1:32 pm
absolute zero wrote: Sat Mar 12, 2022 12:53 pm Same story from me - I've had the card for years, ever since it became available, but I just got a notice saying that it will be converted to a Preferred Cash Rewards Visa and will drop from 2.5% cashback to 1.5% cashback at the end of this year. Sad.


Y'all had to know this was coming eventually when they nerfed the card for new signups, right?
5 years was a good run, though. I switched to the FIDO 2% on everything a while back because I left USAA banking and didn't want to maintain a direct deposit to keep the 2.5%.
Consistently sets low goals and fails to achieve them.
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Re: USAA 2.5% Cash Back Credit Card [Update]

Post by Ricola »

maxq wrote: Tue Mar 08, 2022 10:49 am Guess I'll be shifting credit cards also. By my rough math, USAA reduced my SSA distro by about 40% this year, reduced my Senior bonus by 35%, and will be 'devaluing' the 2.5% cash back card by 40% as of the end of this year. In the meantime, they raised my homeowners insurance by 28% this year (68% in the last two years), and auto insurance by 18%. It seems to me that they'd be better off making an effort to retain loyal customers than airing endless TV ads. :-)
They raised my homeowners by 44% this year for no reason, I said goodbye. :annoyed
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Re: USAA 2.5% Cash Back Credit Card [Update]

Post by gwe67 »

birdog wrote: Tue Mar 08, 2022 12:08 pm
corn18 wrote: Tue Mar 08, 2022 10:53 am I am seriously considering leaving USAA as well. They used to have all my business. Now we are just down to home and auto insurance. And if I leave that, they pay out the $5,600 I have sitting in my SSA.
I am in the same boat as you. The only way I can get the $5K in my SSA is to leave. I always thought that was strange from an incentives perspective.
How do you find the balance in the SSA?
VTI 48%, VXUS 12%, BND 40%
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corn18
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Re: USAA 2.5% Cash Back Credit Card [Update]

Post by corn18 »

gwe67 wrote: Sat Mar 12, 2022 1:38 pm
birdog wrote: Tue Mar 08, 2022 12:08 pm
corn18 wrote: Tue Mar 08, 2022 10:53 am I am seriously considering leaving USAA as well. They used to have all my business. Now we are just down to home and auto insurance. And if I leave that, they pay out the $5,600 I have sitting in my SSA.
I am in the same boat as you. The only way I can get the $5K in my SSA is to leave. I always thought that was strange from an incentives perspective.
How do you find the balance in the SSA?
It's in the letter they send out after the SSA distro.
Consistently sets low goals and fails to achieve them.
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gwe67
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Re: USAA 2.5% Cash Back Credit Card [Update]

Post by gwe67 »

corn18 wrote: Sat Mar 12, 2022 1:39 pm
gwe67 wrote: Sat Mar 12, 2022 1:38 pm
birdog wrote: Tue Mar 08, 2022 12:08 pm
corn18 wrote: Tue Mar 08, 2022 10:53 am I am seriously considering leaving USAA as well. They used to have all my business. Now we are just down to home and auto insurance. And if I leave that, they pay out the $5,600 I have sitting in my SSA.
I am in the same boat as you. The only way I can get the $5K in my SSA is to leave. I always thought that was strange from an incentives perspective.
How do you find the balance in the SSA?
It's in the letter they send out after the SSA distro.
That is what USAA said also:

"How can I find out my Subscriber's Account balance?
USAA sends a Subscriber's Account annual statement each February showing your Subscriber's Account balance. An electronic version of this letter is on usaa.com under My Documents."

But I never receive such a letter.
VTI 48%, VXUS 12%, BND 40%
absolute zero
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Re: USAA 2.5% Cash Back Credit Card [Update]

Post by absolute zero »

gwe67 wrote: Sat Mar 12, 2022 1:56 pm
corn18 wrote: Sat Mar 12, 2022 1:39 pm
gwe67 wrote: Sat Mar 12, 2022 1:38 pm
birdog wrote: Tue Mar 08, 2022 12:08 pm
corn18 wrote: Tue Mar 08, 2022 10:53 am I am seriously considering leaving USAA as well. They used to have all my business. Now we are just down to home and auto insurance. And if I leave that, they pay out the $5,600 I have sitting in my SSA.
I am in the same boat as you. The only way I can get the $5K in my SSA is to leave. I always thought that was strange from an incentives perspective.
How do you find the balance in the SSA?
It's in the letter they send out after the SSA distro.
That is what USAA said also:

"How can I find out my Subscriber's Account balance?
USAA sends a Subscriber's Account annual statement each February showing your Subscriber's Account balance. An electronic version of this letter is on usaa.com under My Documents."

But I never receive such a letter.
Yeah me neither, and I’ve been a USAA member for a couple decades now. Not sure if certain criteria must be met for a person to become part of this program.
tj
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Re: USAA 2.5% Cash Back Credit Card [Update]

Post by tj »

absolute zero wrote: Sat Mar 12, 2022 2:05 pm
gwe67 wrote: Sat Mar 12, 2022 1:56 pm
corn18 wrote: Sat Mar 12, 2022 1:39 pm
gwe67 wrote: Sat Mar 12, 2022 1:38 pm
birdog wrote: Tue Mar 08, 2022 12:08 pm

I am in the same boat as you. The only way I can get the $5K in my SSA is to leave. I always thought that was strange from an incentives perspective.
How do you find the balance in the SSA?
It's in the letter they send out after the SSA distro.
That is what USAA said also:

"How can I find out my Subscriber's Account balance?
USAA sends a Subscriber's Account annual statement each February showing your Subscriber's Account balance. An electronic version of this letter is on usaa.com under My Documents."

But I never receive such a letter.
Yeah me neither, and I’ve been a USAA member for a couple decades now. Not sure if certain criteria must be met for a person to become part of this program.
Look at your insurance policies. Is the prefix USAA or something else? Are you insured by USAA or one of it's subsidiaries?
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corn18
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Re: USAA 2.5% Cash Back Credit Card [Update]

Post by corn18 »

This is how mine shows up in My Documents:

Image

Turns out I have $9,629 in there. Time to leave USAA.
Consistently sets low goals and fails to achieve them.
absolute zero
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Re: USAA 2.5% Cash Back Credit Card [Update]

Post by absolute zero »

gwe67 wrote: Sat Mar 12, 2022 1:56 pm
corn18 wrote: Sat Mar 12, 2022 1:39 pm
gwe67 wrote: Sat Mar 12, 2022 1:38 pm
birdog wrote: Tue Mar 08, 2022 12:08 pm
corn18 wrote: Tue Mar 08, 2022 10:53 am I am seriously considering leaving USAA as well. They used to have all my business. Now we are just down to home and auto insurance. And if I leave that, they pay out the $5,600 I have sitting in my SSA.
I am in the same boat as you. The only way I can get the $5K in my SSA is to leave. I always thought that was strange from an incentives perspective.
How do you find the balance in the SSA?
It's in the letter they send out after the SSA distro.
That is what USAA said also:

"How can I find out my Subscriber's Account balance?
USAA sends a Subscriber's Account annual statement each February showing your Subscriber's Account balance. An electronic version of this letter is on usaa.com under My Documents."

But I never receive such a letter.
This post in a different thread seems to answer the quesiton.

viewtopic.php?p=4915204#p4915204
absolute zero
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Re: USAA 2.5% Cash Back Credit Card [Update]

Post by absolute zero »

tj wrote: Sat Mar 12, 2022 2:10 pm
absolute zero wrote: Sat Mar 12, 2022 2:05 pm
gwe67 wrote: Sat Mar 12, 2022 1:56 pm
corn18 wrote: Sat Mar 12, 2022 1:39 pm
gwe67 wrote: Sat Mar 12, 2022 1:38 pm

How do you find the balance in the SSA?
It's in the letter they send out after the SSA distro.
That is what USAA said also:

"How can I find out my Subscriber's Account balance?
USAA sends a Subscriber's Account annual statement each February showing your Subscriber's Account balance. An electronic version of this letter is on usaa.com under My Documents."

But I never receive such a letter.
Yeah me neither, and I’ve been a USAA member for a couple decades now. Not sure if certain criteria must be met for a person to become part of this program.
Look at your insurance policies. Is the prefix USAA or something else? Are you insured by USAA or one of it's subsidiaries?
It's a subsidiary. Apparently in my case, the fact that I'm a relative/descendant of a military officer (and not a military officer myself) is the reason that I'm not eligible for the Subscriber's Account.
Soon2BXProgrammer
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Re: USAA 2.5% Cash Back Credit Card [Update]

Post by Soon2BXProgrammer »

absolute zero wrote: Sat Mar 12, 2022 2:28 pm
tj wrote: Sat Mar 12, 2022 2:10 pm
absolute zero wrote: Sat Mar 12, 2022 2:05 pm
gwe67 wrote: Sat Mar 12, 2022 1:56 pm
corn18 wrote: Sat Mar 12, 2022 1:39 pm

It's in the letter they send out after the SSA distro.
That is what USAA said also:

"How can I find out my Subscriber's Account balance?
USAA sends a Subscriber's Account annual statement each February showing your Subscriber's Account balance. An electronic version of this letter is on usaa.com under My Documents."

But I never receive such a letter.
Yeah me neither, and I’ve been a USAA member for a couple decades now. Not sure if certain criteria must be met for a person to become part of this program.
Look at your insurance policies. Is the prefix USAA or something else? Are you insured by USAA or one of it's subsidiaries?
It's a subsidiary. Apparently in my case, the fact that I'm a relative/descendant of a military officer (and not a military officer myself) is the reason that I'm not eligible for the Subscriber's Account.
The rules are not public as to why certain people go to certain policy writers. I was enlisted (4 years), after i got out and became a veteran at some point they put me in "USAA"

Lots of people throw around "officers go in USAA and enlisted don't" but I think the rules ar emore complex.
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tj
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Re: USAA 2.5% Cash Back Credit Card [Update]

Post by tj »

Soon2BXProgrammer wrote: Sat Mar 12, 2022 5:58 pm
absolute zero wrote: Sat Mar 12, 2022 2:28 pm
tj wrote: Sat Mar 12, 2022 2:10 pm
absolute zero wrote: Sat Mar 12, 2022 2:05 pm
gwe67 wrote: Sat Mar 12, 2022 1:56 pm

That is what USAA said also:

"How can I find out my Subscriber's Account balance?
USAA sends a Subscriber's Account annual statement each February showing your Subscriber's Account balance. An electronic version of this letter is on usaa.com under My Documents."

But I never receive such a letter.
Yeah me neither, and I’ve been a USAA member for a couple decades now. Not sure if certain criteria must be met for a person to become part of this program.
Look at your insurance policies. Is the prefix USAA or something else? Are you insured by USAA or one of it's subsidiaries?
It's a subsidiary. Apparently in my case, the fact that I'm a relative/descendant of a military officer (and not a military officer myself) is the reason that I'm not eligible for the Subscriber's Account.
The rules are not public as to why certain people go to certain policy writers. I was enlisted (4 years), after i got out and became a veteran at some point they put me in "USAA"

Lots of people throw around "officers go in USAA and enlisted don't" but I think the rules ar emore complex.
I haven't heard of any military descendants being placed in actual USAA.
ryanpj
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Re: USAA 2.5% Cash Back Credit Card [Update]

Post by ryanpj »

I still find their insurance to be far less than anyone else for the same coverage, but I am also in a high cost category 20's male. I had this card and its a bummer that it is going away, but I did get a retention offer for the first time on my preferred cash rewards in January, $50 for $500 in spend. So if they up the frequency of offers it is probably worth keeping open.

People have been saying their customer service has gone downhill but I've never had any issues. Had my car totaled in one of the massive Colorado hail storms and was very happy with the service. They even brought their adjusters out in a snow storm to meet Soldiers returning from deployment and process their hail claims on the spot, as well as do things like jump dead batteries. In addition they have been helpful every time I have PCS'd and one of their agents spent 20 minutes helping me strategize about how to structure my registration and insurance as a I PCS twice in 9 months across three different states.

In addition the AMEX 5% Gas and Base card remains compelling as long as you are under $3k a year.
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corn18
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Re: USAA 2.5% Cash Back Credit Card [Update]

Post by corn18 »

Went insurance shopping today. Online quotes are almost useless because they use the lowest limits to show the best rates and if you want high limits for liability or personal property, they don't offer it. So I made some calls. Turns out, USAA is pretty good. Apples to apples, no one could beat them for auto+home+umbrella+personal article floater. Amica was a lot more. State Farm was the same. So I think I am going to switch to State Farm and free up that $9700 sitting in my USAA SSA.
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dratkinson
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Re: USAA 2.5% Cash Back Credit Card [Update]

Post by dratkinson »

corn18 wrote: Mon Mar 14, 2022 3:43 pm Went insurance shopping today. Online quotes are almost useless because they use the lowest limits to show the best rates and if you want high limits for liability or personal property, they don't offer it. So I made some calls. Turns out, USAA is pretty good. Apples to apples, no one could beat them for auto+home+umbrella+personal article floater. Amica was a lot more. State Farm was the same. So I think I am going to switch to State Farm and free up that $9700 sitting in my USAA SSA.
Sidebar. Data point from when I was a younger (and dumber driver with all that implies), so take with a grain of salt as State Farm may have changed for the better since then. Check current State Farm customer reviews.

As a former State Farm client, while they did meet liability requirements (auto), getting them to make me whole after an accident was vexing*. In my experience, "client satisfaction after a claim" is equally important as liability coverage. (* Never did: "You had a used car, expect us to make it run like new? That's a 'betterment', and State Farm doesn't insure to make your car better than it was.")

So if you think you can get a one-time ~$10K payday (your SSA) by switching from USAA to State Farm, then be aware that you may transfer more than that to State Farm if you have an unsatisfactory claim experience.


Been with USAA since ~1986 (no longer as young/dumb) and recall only 2 claims (hail damage one car, cracked windshield another) and USAA paid for both with no drama. Luckily have had no other claims as I chose high deductibles (home, auto) with the intention of paying for smaller stuff out of pocket; so far, so good. (Knock wood.)

So only move from USAA to a new insurance carrier... whose clients report good claims experiences.
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WolfgangPauli
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USAA Kills the 2.5% CC

Post by WolfgangPauli »

[Thread merged into here --admin LadyGeek]

Just received a letter saying they are killing the 2.5% and moving it to 1.5% but as a "thank you" they will let me keep the 2.5% for the remainder of the year. Did anyone else get this letter? Fascinating to me that all during the "uber low rate" environment they gave me 2.5%. Now rates are going up and they are removing it.

Another reason USAA has really abandoned the military. Would love to know if others received this.
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WolfgangPauli
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Re: USAA 2.5% Cash Back Credit Card [Update]

Post by WolfgangPauli »

USAA has killed it apparently and therefore I will move on from USAA. Absolutely no reason to be there.
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Re: USAA 2.5% Cash Back Credit Card [Update]

Post by LadyGeek »

I merged WolfgangPauli's thread into the ongoing discussion.

(Thanks to the member who reported the post and provided a link to this thread.)
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Tanker
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Re: USAA 2.5% Cash Back Credit Card [Update]

Post by Tanker »

I got the same letter too. They offered me 2.5% when it first came out and it was a good run while it lasted. I've been with USAA for 35 years since commissioning to 2LT and have $10K in my SSA account.

Their bundled insurance rates are still competitive, but the compelling edge they had in banking (among the first to offer mobile phone check deposits, etc.) has waned.
criticalmass
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Re: USAA 2.5% Cash Back Credit Card [Update]

Post by criticalmass »

Can anyone confirm that they received the full 2.5% cash back on IRS Tax Payments (Pay1040, PayUSA, etc.) this month after receiving the letter?

If I understand the letter correctly, the changes begin (e.g. no tax cashback) on April 26, 2022, but would love to hear experiences from payments made this month.
daebt376
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Re: USAA 2.5% Cash Back Credit Card [Update]

Post by daebt376 »

I can confirm. Due to the size of our required payment (from Roth conversions) we actually made two payments after receiving the USAA notice and received cash rewards for both.
Soon2BXProgrammer
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Re: USAA 2.5% Cash Back Credit Card [Update]

Post by Soon2BXProgrammer »

Receiving a promo... $50 back on $500 spend on the card... i assume they are trying to keep people using the card.
Earned 43 (and counting) credit hours of financial planning related education from a regionally accredited university, but I am not your advisor.
Silk McCue
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Re: USAA 2.5% Cash Back Credit Card [Update]

Post by Silk McCue »

Soon2BXProgrammer wrote: Mon May 09, 2022 7:24 pm Receiving a promo... $50 back on $500 spend on the card... i assume they are trying to keep people using the card.
Received the same. Pretty easy since we charge thousands every month to get the cash back.

Cheers
Soon2BXProgrammer
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Re: USAA 2.5% Cash Back Credit Card [Update]

Post by Soon2BXProgrammer »

Silk McCue wrote: Mon May 09, 2022 7:28 pm
Soon2BXProgrammer wrote: Mon May 09, 2022 7:24 pm Receiving a promo... $50 back on $500 spend on the card... i assume they are trying to keep people using the card.
Received the same. Pretty easy since we charge thousands every month to get the cash back.

Cheers
Agreed, I haven't figured out my plan yet, so this is still my primary card.
Earned 43 (and counting) credit hours of financial planning related education from a regionally accredited university, but I am not your advisor.
Silk McCue
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Re: USAA 2.5% Cash Back Credit Card [Update]

Post by Silk McCue »

Soon2BXProgrammer wrote: Mon May 09, 2022 7:33 pm
Silk McCue wrote: Mon May 09, 2022 7:28 pm
Soon2BXProgrammer wrote: Mon May 09, 2022 7:24 pm Receiving a promo... $50 back on $500 spend on the card... i assume they are trying to keep people using the card.
Received the same. Pretty easy since we charge thousands every month to get the cash back.

Cheers
Agreed, I haven't figured out my plan yet, so this is still my primary card.
We will likely go with Alliant Credit Union for their 2.5% Visa card before the end of this year.

Cheers
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