USAA has sent out an e-mail to Limitless cardholders (2.5% cash back on all purchases) stating that April 26, 2022 it will be converted to the Preferred Cash Rewards card (1.5% cash back on all purchases). Thankfully you’ll earn an additional 1% cash back until December 31, 2022 (meaning 2.5% cash back total)
Effective April 26, 2022, your USAA Limitless Cashback Rewards will automatically be converted to the Preferred Cash Rewards Visa Credit Card. Your new Preferred Cash Rewards Visa Credit Card will earn unlimited 1.5% cash back on every Qualifying Purchase1. We recognize that this product change reduces the amount of cash back you will earn on purchases. To show our appreciation for your loyalty, you will automatically earn an additional 1% cash back, totaling 2.5%, on Qualifying Purchases through December 31, 2022. Additionally, tax payments will no longer be eligible for cash back.
This card was launched in September 2017 and then it was available in less states in October 2017 before being discontinued for new sign ups in January 2018.
Down to the last month. I’ll maximize spend by year’s end, but still debating what I make my new “everything else” card in ’23 after not having to think about it for some time. Any last minute tips?
I strongly prefer flat-rate cash back instead of category-based cash back, so I was planning to switch to the Wells Fargo Active Cash credit card (2% cash back). But now that WF has had yet another consumer abuse scandal, I’m hesitating.
Alternatively, there’s the Alliant Cashback Visa Signature credit card (2.5%). Although for this card, you have to do a monthly DD and it has tiered cash back: 2.5% on the first $10,000 you spend in a month, then 1.5% for everything $10,001+ in that month.
And there’s the Citi Double Cash credit card (2%).
Any thoughts?
Also the PenFed Power Cash Rewards Visa – 2%, with no FTF; you just have to be military or veteran, or have a PenFed checking account with either a minimum daily balance of $500 or a monthly direct deposit of $500 or more.
Actually, I might do the Alliant 2.5% card. Higher cash back with requirements similar to those of USAA for the outgoing Limitless card. And whereas WF’s and Citi’s cash back cards charge FTF, Alliant does not.
@anonymous – Thoughts on the Alliant card? https://www.bankrate.com/finance/credit-cards/reviews/alliant-cashback-visa-signature-credit-card/
I had this 2.5% cash back for almost 10 years due to being one of the first people given the special offer in Florida. It earned me an insane amount of money, which I’m surprised they didn’t stop sooner. It’s unfortunate people abused it, because I don’t think there is anything better.
I’d been waiting for this – was good while it lasted – 5 years right? Guess I’m getting an Apple Card and switching checking accounts somewhere else (maybe Fidelity or Chase?) come January 2023. I’ll be glad to get rid of USAA as their customer service has gotten much worse over the years.
~10 years for me… got in FL in early 2010s as a limited rollout special offer. Sad to see it go.
No…! are there any 2% cashback cards with no annual fees? I already have US Bank Altitude Reserve for mobile payment.
Citibank Double Cash, PenFed Power Cash Rewards, Wells Fargo Active Cash, State Department FCU and FNBO Evergreen are all 2% cards with no annual fee. For PenFed, you need military background or to have a checking account to get the full 2%.
Bro, there are 20+ cards now with 2% on everything. Alliant, AODFCU, Carolinas Telco, Citi, Coinbase, Dover FCU, Fidelity, FNBO, Paypal, Penfed, PSECU, SDFCU, SoFi, Status Money, Synchrony, TD Bank, USAlliance, Wells Fargo… take your pick. On top of that, there’s added value tricks for Bank of America and Chase.
If you want something different…
https://www.ctelco.org/credit-cards/
Join from anywhere through NCCC
If your are active duty military, consider the U.S. Bank Altitude Reserve. 3x back in mobile payments such as Apple Pay and Google Pay. Those points can be redeemed for cash back at 1 cpp or 1.5 cpp if redeemed in their travel portal. The $400 annual fee is waived and you net $325 in annual credits that covers travel and dining charges.
USAA always called Limitless a “Pilot.” After five years though, I thought maybe they would just allow those of us grandfathered in.
I am not shocked (it was too good to last) but also a little shocked (after 5 years I thought it was safe). Every time my USAA app on my phone had an exclamation mark indicating a document was ready to be viewed and it was not a typical period for a checking/savings/Limitless statement, my stomach would drop. I always worried that it was for a notification that the Limitless card was ending. Last night, that came to be.
It was great while it lasted and I have until the end of the year to figure out an alternative.
I’ll be ticked if they come out with a new 2% card available to every USAA member and, because they do not allow PCs, we would have to apply for the new 2% card after being downgraded to the blue 1.5% card. But with the way things are going at USAA, I do not think they would come up with a 2% card. They keep getting worse.
Maybe they needed to discontinue Limitless so that they can pay for the new checking account, in limited states, that offers $0.10 debit card rewards….and $200 sign up bonuses on credit cards……
AOD credit union VISA card then, 3% flat rate.
Anyone can join with one time 5$ donation.
I don’t see where you can become a member with just a $5 donation. Appears like you have to be a member of certain groups.
Yes, join NEABA bike club for one month, apply and get AOD membership, then cancel NEABA
Side note, some people say this doesn’t work anymore (depending on state). But there are other associations too. YMMV.
Alright best credit card for Square/Toast payments?
Just get a Fidelity Visa card take the 2%.
FTF
The FTF for the Fidelity Visa is just 1%, meaning you can earn 1% overseas in all categories. Not amazing, but not bad for a no annual fee card.
True, but I prefer double that. 😉
1% is bad for a general earn card. There are plenty cards that earn 1.5% internationally, including the downgraded version of this card.
Like I said, 1% is not amazing, but not bad for overseas spend when compared to many cards that have 3% FTF that would negate the cash back. There are a few better cards, and if it is worth it to you to use a 5/24 slot to get it then by all means go for it.
And like I said, there are plenty of no FTF cards offering 1.5%. Pretty sure 1.5 still is larger than 1.
How were people getting any decent amount of cash back from tax payments in the first place? Paying with a credit card has fees that are usually high enough that the diff from a card like this would be very small. Even if you had a massive tax bill the gain would be minimal.
Credit card fees are about 2% when you pay through the IRS which is worth it so as long as your CC rewards are greater than 2%, regardless of how small it is or not to some.
If you pay via debit card, it’s a flat fee in which you could purchase a debit card (e.g. prepaid debit card) with a CC at a location with a higher earnings rate (e.g. my local grocery store sells $1000 Visa debit cards). Additionally, without giving it away in case it gets blocked, there are other means to effectively process a CC as a debit card which replaces the 2% fee with a flat fee.
I’m curious which groceries chain sell $1000 visa gift card and how much was the fee? VONS/Ralph’s maximum is $500 with $5.95 fee.
Within the State of Hawaii, the local grocery store I go to is not part of a chain and sells $1000 Visa debit cards with a $3.95 fee which I found to be better than the local grocery chain stores that sell $500 Visa debit cards with a $4.95 fee.
I’m interested in how you process a CC as a debit card?
It’ll take some digging to find methods of processing a credit card as a debit card but it’s certainly possible. Unfortunately, I won’t be disclosing it (nor will most people who have found ways) as it’ll lead to it being shut down faster.
One way that people were doing this was via PayPal Key but it was recently shut down by PayPal once they realized what was happening (PayPal was eating the credit card processing fees on tax payment transactions).
TBH, just use the coinbase debit card for 4% cash back in XLM. You can then quickly convert the XLM into USDC (a US Dollar crypto equivalent) with minimal slippage
Are they banning for paying taxes? Do taxes earn 4%?
I was suspended for 8 months already, not really interested in losing it again which by most of the DP I’ve seen would be permanent.
I second the Coinbase debit card. 4% across the board is fantastic. One of the rules of the credit card points and miles game is to treat your credit card like a debit card. You won’t have to worry about that rule when using the Coinbase debit card! You can convert XLM to many other cryptocurrencies, including Bitcoin. Spend only in USDC (pegged to the US dollar) and be mindful of tax implications when converting between cryptocurrencies.
Wouldn’t you lose 2-3% when converting from XLM to USDC due to the market spread and/or Coinbase fees?
If I convert to bitcoin, is there a tax at the end of the year?