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USAA discontinuing rewards on debit card

I'm bummed to find out that I'll no longer get a nickel back on every dollar spent. 

Has anyone else gotten the email notification?

It's effective 9/1/11.  

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Re: USAA discontinuing rewards on debit card

  • I got mine in the mail. Lame.

     

    imageLilypie Third Birthday tickers
  • imagekdodge423:

    I got mine in the mail. Lame.

     

    Same here. Boo

  • imagekdodge423:

    I got mine in the mail. Lame.

     

    I'm really disappointed.Ah yes, I meant to say in the mail, not email.  I can't help but think now that they are a bank to anyone that's not military related that the existing members lost a wonderful perk. 

    I believe there was another reward program and it was points.  

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  • imageKiller Cupcake:

    They're still a military only bank.  

    A friend of mine has opened up a savings and checking account and she's not military related.  

    I'm trying to find the article that talks about it. When I do, I'll paste it in this thread.

    Some people over on the MM board were also talking about it about 2 weeks ago.  

     

    https://www.usaa.com/inet/pages/why_choose_usaa_main

    Here is a c&p of what non-military people can use:

    Other IndividualsUSAA's investment products, most checking and savings products, credit cards, life insurance, and shopping and discounts are available to other individuals.USAA auto and property insurance is not available due to membership eligibility requirements. New Hampshire and North Carolina residents who are not eligible for membership may be able to obtain USAA auto insurance by calling 1-800-531-USAA (8722) to determine eligibility as defined by these state's mandatory coverage laws.

    All other individuals not eligible for USAA auto insurance may be able to obtain an auto policy through Progressive Insurance by calling 1-888-870-8096. 

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  • At least they still reimburse ATM fees.  It would be a dealbreaker for me if they stopped that.
    Natural m/c @ 6 weeks - 3/1/2013 Baby Birthday Ticker Ticker
  • USAA isn't the only one.  They changed the law on interchange fees, which makes it difficult if not impossible for banks to continue to offer these programs.  The rewards programs used to be funded by charging retailers for debit card transactions.  Now that those charges have been limited,and the banks can't afford to continue to offer rewards for using their debit cards.  The good news is this may slightly decrease the cost of goods.
  • imageCarlisle_Girl:
    USAA isn't the only one.  They changed the law on interchange fees, which makes it difficult if not impossible for banks to continue to offer these programs.  The rewards programs used to be funded by charging retailers for debit card transactions.  Now that those charges have been limited,and the banks can't afford to continue to offer rewards for using their debit cards.  The good news is this may slightly decrease the cost of goods.

    The other good news is they decided to keep atm charge refunds :-D I would prefer that service to the one program they nixed. And at least you can still earn points with their credit cards and member shop !

    BFP #1 11/07/2012 EDD 07/09/2013 M/C 11/22/2012

    BFP #2 02/05/2013 EDD 09/19/2013

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  • so does this mean that we have to use our reward points by a certain time?
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  • Hold the phone. Neither H nor I even knew there were rewards for debit card purchases!
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