USAA - Cash Rewards World MasterCard Review

I got a phone call from my USAA Cash Rewards World MasterCard fraud prevention department the other day. Apparently, some questionable attempted charges were appearing on my account, and they had placed a hold on my account and called me to see if I had made the purchases. I had not.

As I began to ask questions, I learned a lot about fraud and also about how quickly USAA caught this activity. I asked when the first fraudulent charge appeared and realized they had notified me less than two hours after the first fraudulent attempt. She called out various suspicious charges, and I verified that I had or had not made the purchase. USAA had to close my account and issue me another card, but this was far better than the horror stories I've heard from some who have had to try to correct fraudulent charges or identify theft. The representative was very apologetic that they would have to close the account and re-issue a card and reminded me that if I had auto bill-pay accounts that I would need to change them to the new number. That part was easy to me--if my employers want to pay me through direct deposit, I love it. If I owe something, I want to do that part manually.

The USAA representative also mentioned that they have a website where I can set parameters for when and how I wish to be notified to check on possible fraudulent activity. I had not ever gone to the website because I thought I'd have to put my credit card number in there, but she assured me that I could use my USAA member number.

In addition to excellent fraud protection, I am definitely pleased with other free perks of the USAA Cash Rewards World MasterCard, including:

• no annual fee
• good interest rate
• up to 1.25% cash back on purchases (I pay off my balance each month, so they pay me to use this card--there's no limit to the cash back)
• price protection (if you find a lower price on an item within 60 days of purchase, the difference will be refunded back to you, up to $250, excludes certain items and internet purchases)
• trip cancellation (protects against forfeited, nonrefundable, unused payments and deposits up to $1500 if a trip is interrupted or discontinued for covered reasons)
• baggage delay insurance (if baggage is delayed for more than 4 hours, reimbursed for emergency purchase of essential items up to $300)

I don't travel very much, but I can see where these last two would certainly help people who frequently travel, even though this card does not offer frequent flyer miles. 

My dad encouraged me to sign up for USAA car insurance years ago. Since he was in the Navy, he and our family qualified for USAA services. He was always very careful in his spending habits, and I think he would have been quite proud of me in finding a way to let a credit card pay me to use it!

My Viewpoint:

Military personnel and their families may wish to check out this USAA Cash Rewards World MasterCard. I've had this credit card for years, and I have been most pleased with it.