USAA Preferred Cash Rewards vs USAA Rewards American Express

Common questions

Which card has the bigger sign-up bonus, USAA Preferred Cash Rewards or USAA Rewards American Express?

The USAA Preferred Cash Rewards has the bigger bonus, $250 cash bonus, worth roughly $250, versus 2,500 USAA Rewards points (~$25) on the USAA Rewards American Express.

Is the USAA Preferred Cash Rewards's $0 annual fee worth it compared to the USAA Rewards American Express?

The USAA Preferred Cash Rewards has no annual fee, so the question is whether the USAA Rewards American Express's $0 fee is justified by its perks. If you'll use enough of the USAA Rewards American Express's benefits to clear $0 in value annually, it's worth it; otherwise stick with the USAA Preferred Cash Rewards.

Can I have both the USAA Preferred Cash Rewards and USAA Rewards American Express?

Yes, though both are issued by USAA so the same issuer-specific application rules apply (Chase 5/24 if applicable, Amex once-per-lifetime bonus, etc.). Many points enthusiasts hold both, they pair well when one earns flexible bank points and the other earns a different currency.

Should I get the USAA Preferred Cash Rewards or the USAA Rewards American Express first?

Get the one whose sign-up bonus you can hit comfortably without overspending. USAA Preferred Cash Rewards: $1,000 spend in 3 months. USAA Rewards American Express: $0 in 0 months. Pick the easier minimum spend if you're new to points; pick the larger bonus if you have planned big purchases coming up.