USAA Making Changes To Credit Card Benefits On 8/31/19 (Price Protection Being Removed, Extended Warranty Being Increased)

USAA has sent out a letter to credit card holders letting them know that changes to card benefits will be made on August 31st, 2019. These changes are as follows:

  • Auto Rental Collision Damage Waiver – There will no longer be a limit on the value of the car you rent; however, be aware that certain restrictions apply
  • Extended Warranty – The claim maximum has been raised to $15,000 from $10,000
  • Price protection – This benefit is being discontinued due to low usage by cardholders

I’m not sure that I buy price protection being removed due to low usage, especially with so many other card issuers removing the benefit lately.

26
Leave a Reply

avatar
 

  Subscribe  
newest oldest most voted
Notify of
I would use USAA if they had better credit card re
I would use USAA if they had better credit card re

USAA needs better credit cards rewards

Dan
Dan

would be great to have an updated post on what cards still have price protection after the citi, mastercard, and usaa now ending the benefit

Jeremy
Jeremy

It would be an incredibly short post IIRC.

CreditHunter
CreditHunter

They still offer the best car insurance rates in my area, at least for now

Gadget 🕵️

I believe this to be the case for me too… not so sure the distress some people have over USAA insurance rates is by area though. I kind of assume it’s certain age groups or risk groups that could get better rates elsewhere. Older people with clean records get awesome rates w/ USAA.

Binny
Binny

Price protection claims were limited to 4 per year anyway.

-G-
-G-

As long as they don’t mess with my Limitless Visa 2.5% rewards I’m sticking with them.

kcihtred2
kcihtred2

my grandpa won’t be happy to hear about the price protection. oh well

Al
Al

USAA’s entire banking department is a joke. All I have found them good for is renter’s insurance since that is cheap to begin with.

CC offers, trash. Interest rates on loans, trash. Interest on their bank accounts, trash. Insurance rates, nearly double the competition.

Yet I still see military people using them for everything and it baffles me.

Mark
Mark

USAA used to be great for military until about ten years ago when they decided to expand membership to include anyone who ever was in the military. That increased the risk pool and also diluted customer service quality as they hired more people. I am in the Army, and we all just use USAA because everyone we know does. In the last 1-2 years people have been waking up. I myself switched to State Farm for insurance ($2000 cheaper on a homeowners quote!), Merrill Edge for investing (USAA commissions are $8.95 FFS!). They’re pretty good for banking still so I’ve kept that.

YoniPDX
YoniPDX

Had Home & Auto with SF 25 years (still have Home ( and keep a auto policy that I suspend most of year for Multi-line disc) that said Home w/USAA 2X higher but Auto save about $2K on 5 vehicles (with far better coverages .5M/1M/.5M liability and inexpensive GAP +20% on our finaced vehicle’s till we are ahead of depreciation curve on loans, no tickets, teenagers, and one at fault claim about 3 yrs ago). Switched last year, will give it a year to see if rate increase was due to a teaser rate or just general insurance hike.

Though about opening savings for extra 6% multi-line with USAA

J Ro
J Ro

What’s this savings multi line? What’s the minimum?

Max
Max

Merrill Edge? Noo, there’s so many good options…Schwab, Robinhood, M1 Finance…Merrill Edge is super limited and clunky.

Simon
Simon

I personally feel their basic checking account is pretty good. Easy to use compared to a lot of other banks (looking at you, HSBC), always free, and reimbursement for ATM fees, free checks, etc. Plus it seems they are always faster on getting payroll DD in – I’ve set up payroll with other banks and none of them beat USAA in speed. I also have two auto loans with USAA as they gave me the best rates (after their autopay discount of course). For credit cards and high interest savings, we all have better options elsewhere. I do miss the 2.5% cash back card..

KC
KC

A bit of hyperbole here Al. Obviously one should shop around, but the checking is good and my auto loan rate was lowest with them. Some people want all of their stuff with one company for ease of use; not everyone is scouring internet blogs to save money.

tribesman55
tribesman55

For our area they were the cheapest insurance by about 30%. Saving a ton now on Home + Auto + Umbrella.

Snorlax
Snorlax

Same for us. We get more coverage for less premiums.

I shop around.

slowbrake
slowbrake

They let me use USAA initiated inbound transfers and deposited checks immediately, no waiting until next business day (or 3)

Makes an excellent hub account.

Snorlax
Snorlax

Yeah, their 2.5% CB credit card is such trash. 🙄

YoniPDX
YoniPDX

Low useage = a disproportionate small number people used the crap out of the benefit

Hari
Hari

I thought card issuers were stopping Price Protection benefit due to high claim numbers with all those automated services doing a claim for us.

Dum guy
Dum guy

Yeah, they are just lying about the real reason. It’s the norm.

JB
JB

Maybe they meant to say “a low number of cardholders are making an extremely high number of claims due to automated services.”

Hari
Hari

Ha ha. That’s highly likely 😀 I was one of them when Discover and Chase lasted. Golden days.

aubergine
aubergine

“This is why we can’t have nice things”

George
George

I don’t think any of them admitted that. I think they’re being purposely misleading with the “low usage” line, referring to “a low percentage of cardholders” rather than “low amounts.”

There’s also the chance that they pay someone else for the service (like an insurance company), and that other party is asking for more than the issuer thinks is fair (maybe overreacting to higher usage or overestimating the risk from automated systems). That’d be “low usage in relation to our rate.”