USAA just notified members they will not allow cryptocurrency transactions on their credit cards starting June 15th

USAA is common banking choice for US Military and Veterans.

They recently sent out an email with the following:

Thank you for choosing us for your credit card needs. After careful thought, USAA has decided not to allow cryptocurrency transactions on USAA credit cards beginning June 15, 2018. This is being done to help prevent fraud or losses and protect USAA and our members' financial security. You can still purchase cryptocurrency using any USAA debit card.

I don't think is a huge deal but believe people should be able to do what they want with their credit card. If you are a young Lance Corporal that wants to buy that expensive car at that slimy dealership off post or buying overpriced drinks at the strip club if that's your thing, then that's their business.

If a Private First Class wants to buy a little Bitcoin on the dip and maybe earn some credit card rewards, I don't think that should be prevented under the pretense of protecting financial security. Anyways, getting off my soapbox.

What do you think?

I agree with you. Still, they can buy it using their debit cards, so it's not a big deal. Banks have to protect their image as secure institutions and they aren't too fond of crypto to begin with.

Thanks for the post !

Seems like there is a tendency in some circles to associate everything crypto with fraud.

What's the interest rate on that credit card? Is that on the balance due?, ..or is it on the entire amount?

analysis post for thanks

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