- Green Member
- Posts: 17
- Joined: Fri Sep 23, 2011 11:44 pm
- Location: San Antonio, TX
I don't have a USAA card, but I am a USAA member.
In short, USAA is an inter-insurance exchange that operates wholly-owned subsidiaries for their services -- banking, investing, insurance, etc. Their banking services is a Federal Savings Bank, proper, and other services are mostly (if not all) run through actual (Delaware) corporations. So they're not a credit union, and the bank portion is actually a bank...whereas the umbrella organization isn't a corporation proper (unlike most Fortune companies).
Full membership (and thus full access to their services) is limited to those who meet eligibility criteria. I believe anyone can use their banking services. Their customer service is outstanding, and you'd be hard-pressed to find a company who does that better.
As for the value of their services...I can't say whether their cards are worth it compared to other companies. In my experience, while they're often able to, USAA does not always provide the best rate on their services (insurance, cards, loans). But they really do provide excellent service.
In your case, undecided between the two reward types...a little online research should help you determine the point values, at which time you can guesstimate how much return you can expect based on your spending habits. If the point values don't seem sufficient for how you spend or for what you'd like to redeem them for, then cash-back is probably the best bet for you.