Requires having USAA checking account with $1,000/month direct deposit (didn't test, but many times PayPal or Cash App deposits will count for such requirements - I do them regularly with another bank to avoid fees).
Without direct deposit you get 1.5% cash back.
It is labeled as a limited time pilot.
There's a workaround that will allow almost anyone to get a USAA checking account.
https://www.usaa.com/inet/wc/bank_cc_limitless_cashback_visa_signature
This product is currently available to members residing in the following states: AL, AZ, CO, GA, HI, ID, IL, IN, KS, LA, MI, NM, NV, NY, PA, RI, SC, TN, TX and WA. It will become available in additional states at a later date.