topic Re: USAA and Chase in Credit Cards

USAA and Chase

alexak — Thu, 06 Sep 2012 14:38:07 GMT

Ive been thinking about apping for both USAA Visa (I'm a partial member) and Chase Freedom once my balances on my current cards report as $0 and a few of my Inqs fall off (any time now). My question is I am in a DMP (Debt management program), due to some financial mishaps about 2 years ago. and should be done by January. My question is, will I get denied because one of my cards is in DMP (old BofA card)?

I dont want to burn an inquiry if I have no chance of getting approved :smileysad:

Re: USAA and Chase

bribro — Thu, 06 Sep 2012 16:14:15 GMT

Chase is pretty strict about baddies. You might want to just go for USAA, but on the other hand the worst that can happen is you get denied and a HP.

Re: USAA and Chase

alexak — Thu, 06 Sep 2012 17:07:56 GMT

Ok, what are my chances with USAA? My updated score is in my sig. Hoping to see a small jump when I get my util to 0%.

Also, any other places I can try? Looking for a slightly higher limit and a card that will grow with me, unlike the cards I have now (see sig).

Re: USAA and Chase

alexak — Fri, 07 Sep 2012 00:27:52 GMT

Bump...

Re: USAA and Chase

mr_postman — Fri, 07 Sep 2012 04:11:14 GMT

USAA pulls EQUIFAX with your score of 606 EQ might get denied just my opinoin Chase i wont even waste an inquiry

Re: USAA and Chase

bichonmom — Fri, 07 Sep 2012 04:35:59 GMT

alexak wrote:
Ok, what are my chances with USAA? My updated score is in my sig. Hoping to see a small jump when I get my util to 0%.

Also, any other places I can try? Looking for a slightly higher limit and a card that will grow with me, unlike the cards I have now (see sig).

USAA is a more conservative lender. And they offer better CCs, terms, rewards, etc. to full members than partial ones. I wouldn't waste my time with them until your credit is really good, if you really want an USAA card.

I don't think Chase would approve you. They are a prime lender and may balk at your DMP, plus your FICO is pretty low. Your OP says that you have other CCs. What are they? Maybe you can just CLI what you have now. Otherwise, you may need to let them age a bit so your FICO improves before apping for prime CCs.

Maybe when your DMP is done in Jan, your scores will jump.

Re: USAA and Chase

alexak — Fri, 07 Sep 2012 06:01:48 GMT

Right now I have cap1 green and orchard bank unsecured... I've read they do not give customer initiated CLIs, or I would have gone that route. In DMP is an old Bank of America card and paid off can closed is an old cap1 platinum visa card.

Not sure why my EQ from USAA CMS is so much lower than my FICO...

Re: USAA and Chase

rootpooty — Fri, 07 Sep 2012 06:20:37 GMT

alexak wrote:

Not sure why my EQ from USAA CMS is so much lower than my FICO...

dont pay any attention to a score that isnt a FICO cause it doesnt mean anything. I wouldnt do USAA anytime soon cause they are known for high APR especially for partial members plus right now you would get denied anyways. How long have you had your orchard and cap one? Id wait till your eq fico is higher than 680ish plus one year of solid history and low util reporting before app with freedom. If you app now and a miracle happens where you are approved it would only be for around 500 cl with a high apr as well.

Re: USAA and Chase

alexak — Fri, 07 Sep 2012 16:07:42 GMT

I've had Orchard since Jan 2012 and Cap1 since June, both with a $300 limit.

Re: USAA and Chase

re383209 — Fri, 07 Sep 2012 16:32:08 GMT

I will say I just go approved for the freedom with a 2k limit with 2 collection a little under 1k balance both being paid on, I was initially denied a reconed 4 times before finally getting approved they pulled an transunion 619 on me no late payments though on my report

Re: USAA and Chase

alexak — Fri, 07 Sep 2012 16:55:17 GMT

I've seen a lot of people getting approved for the Freedom with lower scores, which got me excited. But I think I'll wait and concentrate onpaying off my card in DMP and untily score gets closer to 700.

Should I try to get a CLI from orchard or not even bother? I

Re: USAA and Chase

beautybrainsbooty — Fri, 07 Sep 2012 17:48:32 GMT

I was approved for USAA with my score at 681.(they disclose it in the approval process) I fell out of my chair but I don't think they go much lower than that with approvals even with substantial income. I would definitely work on getting close to the 680-690 range before I app with anyone if you want a prime card. This has been my experience! I wish you the best of luck ;)

Re: USAA and Chase

tbolt2 — Sat, 08 Sep 2012 02:01:37 GMT

Chase, I would not even think about

USAA - it's a possibility, but I would wait. Get your scorres a little higher, paye ervythng on time for a few more months.

I was approved for 1500 Visa in March with MyFICO EQ 641. NO negatives on my EQ report except very high utilization - over 70% - and a paid judgement from two years earlier.

at the the time of my approval:

I was AU on two cards of my wife through USAA

I had direct deposit of my payroll to USAA

I had a small savings account with USAA

I had spotless payment history for the previous year and a half on all 19 of my tradlines that had been opened in the last 2 years (including a car loan and lease).

Still spotless payment history and plan to keep it that way.

Utilization now down below 40%

Re: USAA and Chase

kjhgljhlhg9835893u5t89ldk — Sat, 08 Sep 2012 15:17:11 GMT

bichonmom wrote:
USAA is a more conservative lender. And they offer better CCs, terms, rewards, etc. to full members than partial ones. I wouldn't waste my time with them until your credit is really good, if you really want an USAA card.

I don't think Chase would approve you. They are a prime lender and may balk at your DMP, plus your FICO is pretty low. Your OP says that you have other CCs. What are they? Maybe you can just CLI what you have now. Otherwise, you may need to let them age a bit so your FICO improves before apping for prime CCs.

Maybe when your DMP is done in Jan, your scores will jump.

How so? Do you Care to explain? I am a 20+ year FULL member with usaa, and they offer NO difference in what they offer FULL members than non/partial members.

What has been your experience?

Re: USAA and Chase

Cdnewmanpac — Sat, 08 Sep 2012 15:24:45 GMT

You can search this forum for "usaa partial member" or "limited member" and see an extensive list, but off the top of my head: you cannot get the rate advantage credit card as a partial member. You cannot get secured products as a partial member. I have personally confirmed that only full members are eligible for the lowest interest rate bracket on both their personal loans and their credit cards.

Re: USAA and Chase

marty56 — Wed, 12 Sep 2012 21:10:48 GMT

If you have a BofA card in a DMP program, do not apply for any new credit. They will terminate you from the program. That happened to me. If the BofA card is PIF, then feel free to apply for anything that your current FICO score and CR would approve. Being in a DMP has had zero effect on my ability to obtain credit at the best rates for my score and credit report. LOL even BofA will eventually send you a pre-approval offer one of their cards.

Re: USAA and Chase

QAMngrGirl — Wed, 05 Dec 2012 00:37:14 GMT

+1 marty56, Until that Bofa is PIF through the DMP, you are risking the account being removed from DMP & all bets are off - original terms and penalties can be added back in. They have some of the strictest policies and guidelines to even allow a cardholder to enroll the account into a DMP.

Re: USAA and Chase

nicholasyud — Wed, 05 Dec 2012 00:45:59 GMT

Join USAA Asap.....They approved me with 4k limit compare to other toys limit i have. ......They very good with customer.......but you should wait a lil bit till your score hit around 665 to 690 then apps for some cards you want in the same day. Defi USAA first.

Good luck