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Contemporary discussion surrounding credit cards and their benefits include popular airline rewards programs as well as cashback services. However what is frequently lost in the discussion is the large percentage of Americans that are either new to credit, or looking to rebuild it. This introduces the concept of a secured credit card, which permits an initial deposit as a form of a credit line after opening the account. This concept allows for the consumer to experience the same concept a credit service, with an extra twist of having an actual initial deposit tied into the membership. Luckily, American Express has come to engage the concept of a secured credit card via their current USAA Secured Card.

american-express-usaa-secured-cardThe USAA Secured Card from American Express is an interesting credit offer for former or current military personnel as well as their families. While retaining the formality of an actual credit card, the service also entails opening up a two-year Certificate of Deposit with USAA Bank, which allows for the cardholder to accumulate interest on their initial deposit for as long as they keep their membership active. This initial deposit is then equated to the ultimate credit line of the card; however interest is accumulated on the entire deposit and not simply the percentage of the credit line that is actively used.

This deposit-credit line set up is unique to secured credit card services, however it reinforces the idea of the cardholder either being able to establish, or repair their credit score.

Aside from the interest rate earnings, cardholders also enjoy a wide variety of benefits that are offered in traditional credit card services. These include no foreign transaction fees, as well as a comprehensive identify theft program which helps to aid the cardholder in a situation of identity theft. Moreover, the service offers specific benefits to our military personnel, with decreased APR rates during times of deployment and active duty. This helps to ease the struggles of maintaining the card while also actively serving our nation.

american-express-usaa-secured-card-2Perhaps the most calming effects that the card offers are in reference to the security features that are built into the service. To start, the USAA Secured Card enables a chip card technology which allows for the consumer to enjoy added security benefits as well as having the card be accepted at more locations worldwide. The company also states that the cardholder is not liable for purchases that can be confirmed as unauthorized, which is also beneficial for those on active deployment in different parts of the world. This is not to mention the 24/7 mobile account access that is also offered as a complimentary feature of the membership service.

Ultimately, the American Express USAA Secured Card is a unique service that should be strongly considered for anyone involved in the military. Regardless of credit score, the various benefits that the card entails works in favor of the military member, which is something that can’t be said about other credit card offers out there today.