USAA Will Discontinue Limitless Card
USAA is discontinuing the Limitless credit card. This is a unique card that has one of the best rates out there for all purchases, 2.5% cash back. USAA has notified current cardholders that their cards will soon be converted to the Preferred Cash Rewards card. That card earns 1.5% cash back on all purchases.
USAA will let current cardholder earn an additional 1% cash back until December 31, 2022. So they can earn a total of 2.5% back on their purchases through the end of the year. However, tax payments will no longer be eligible for cash back. That was a popular use for this card since it could earn 0.63% cash back (after fees) for tax payments.
Here’s the relevant text in the email:
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 Purchase. 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.
HT: Doctor of Credit