USAA: Is 3.99% Good?

[Anonymous]

I've been getting pre-approvals from USAA for what seems like forever at 5.49% which doesn't seem so terrible.  Still, I have been seeing PenFed and even Navyfed with what I believe was about 2%.  Now just this month my pre-approval with USAA dropped to 3.99%

Is 3.99% ok? 

Although NavyFed and others offer 2%, do people with a FICO of, say, 740 really end up getting that 2% or do they get hit with the bait and switch?

[CrdtLrnr]

---

@Anonymous wrote:

I've been getting pre-approvals from USAA for what seems like forever at 5.49% which doesn't seem so terrible.  Still, I have been seeing PenFed and even Navyfed with what I believe was about 2%.  Now just this month my pre-approval with USAA dropped to 3.99%

Is 3.99% ok? 

Although NavyFed and others offer 2%, do people with a FICO of, say, 740 really end up getting that 2% or do they get hit with the bait and switch?

---

In my long experience with PenFed, they don't do "bait and switch".  A customer either qualifies or doesn't.  Times have changed, so they may offer higher interest rates for any perceived risk.  I've never seen them engage that way.  As you probably know, they pull EQ. 

3.99% is very good.  1.99% or 2.99% is better.

[Anonymous]

---

@CrdtLrnr wrote:

---

@Anonymous wrote:

I've been getting pre-approvals from USAA for what seems like forever at 5.49% which doesn't seem so terrible.  Still, I have been seeing PenFed and even Navyfed with what I believe was about 2%.  Now just this month my pre-approval with USAA dropped to 3.99%

Is 3.99% ok? 

Although NavyFed and others offer 2%, do people with a FICO of, say, 740 really end up getting that 2% or do they get hit with the bait and switch?

---

In my long experience with PenFed, they don't do "bait and switch".  A customer either qualifies or doesn't.  Times have changed, so they may offer higher interest rates for any perceived risk.  I've never seen them engage that way.  As you probably know, they pull EQ. 

3.99% is very good.  1.99% or 2.99% is better.

---

Maybe I shouldn't have used the term bait & switch.  On the PenFed website I think it says auto loans at 1.99%, but I wonder if that means everybody who is approved gets 1.99% or if it means rates as low as 1.99%.

[marty56]

RBFCU is also based in San Antonio and they are also in the 3% range so it think that it is a good deal.

Something to keep in mind that some CU's base their interest rate on your history with them as well as your credit so if you wanted say a mortgage with them down the road, it may make sense to take the loan even if you could get a slightly better rate with say the dealer.

[Anonymous]

---

@marty56 wrote:

RBFCU is also based in San Antonio and they are also in the 3% range so it think that it is a good deal.

Something to keep in mind that some CU's base their interest rate on your history with them as well as your credit so if you wanted say a mortgage with them down the road, it may make sense to take the loan even if you could get a slightly better rate with say the dealer.

---

Thank you!  That's definitely a point to consider.