The USAA Limitless Card: The Best Cash Back Credit Card On The Market

usaa limitless card

While I generally don’t focus too much on cash back credit cards, they are a great alternative to travel rewards credit cards, as they put actual money back into your account. This can happen in the form of a statement credit, or in form of a check or electronic transfer into your checking account. Either way, for those that want to be rewarded in actual dollar figures, cash back rewards is the way to go. Your rewards points may only be worth a mere 1 cent each, but that’s worth a lot more than unused travel rewards at 2 cents each or more.

Well the cash back world just received a breath of fresh air, in the form of a new player in town: The USAA Limitless Cashback Rewards Visa Signature Card. The main reason I even decided to write an article about this one is the fact that it’s actually a total game changer.


USAA Limitless Card

First things first: This card is still in pilot mode and not yet available in every state. If it is available in your state, however, I’d seriously consider it. Here are the specs:

  • 2.5 percent cash back on all purchases, no caps
  • No annual fee
  • No foreign transaction fee
  • Visa Signature Perks

2.5 percent on all purchases is an industry first. Obviously, there are the typical exclusions, such as cash advances, etc. Truck stop transactions are also strangely excluded. But there is one more major stipulation in order to be eligible for the 2.5 percent: you have to have a USAA checking account with qualifying direct deposit. Qualifying direct deposit is any direct deposit of at least $1,000 every 30 days. You do have initially 90 days to set up direct deposit with USAA after being approved for the USAA Limitless card. Otherwise, your cash back is limited to a mere 1.5 percent.

Unfortunately, membership with USAA is not a given. In order to become a member, you have to be at least affiliated with the US military. Military spouses, as well as children of current or former USAA member are eligible to become members themselves. Not only does the United Services Automobile Association (USAA) offer fantastic insurance products (their renters insurance offers coverage that’s second to none), but they are seemingly trying to seriously step up their credit card game as well.


Bottom Line

If you are a current USAA member, or are eligible to become one, the USAA Limitless card is one you should definitely consider. It may be a few months until USAA rolls it out nation wide, but all good things are worth waiting for. You can check online if the card is available to you, or just call USAA directly and ask. Not only is this card the ideal non-bonus spending card, but it’s also made for travel abroad, thanks to the absence of foreign transaction fees. All that wrapped in a no annual fee package. Perfect, especially given the fact that the only requirement is to sign up for direct deposit with one of the nation’s best checking accounts. Seems like a win-win situation to me. The card is currently not available to Virginia residents, but I’ll be keeping an eye out for it for when it does become available.

Do you have the new USAA Limitless card? What’s your experience with it and what do you mainly use it for?