Anyone use USAA

[atlastontheroad]

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@smallfry wrote:

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@Tuscani wrote:

Yes.. USAA is superb. I highly recommend!

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New membership qualifications knock me out of the game. I hear mostly great things about this CU. One of the best along with Navy Federal Penfed and Patelco.

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USAA isn't a credit union.  The banking division is a Federal Savings Bank. 

atlast.....USAA member for 20+ years

[Anonymous]

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nathan wrote:

They just denied me for a usaa amex with a 659 eq. Their reasons are: too many inq (12) over two yrs, accounts too new? and one 5 yrs old collection. I have sent them a recon email to do a manual review and I am still waiting for their reply. Do they ever recon? If i am still denied, i will stick with my penfed 15k, navyfed 15k and 5k. If they think penfed and navyfed are dumb enough to offer me such nice ccs when i had even lower score, to hell with them. I can;t believe they would not even offer me 1k even though i have been a member for 5 yrs.

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Nathan, they declined my app for the MC with EQ pull due to short history. FICO was around 680. I immediately called and asked if they could pull TU or EX since they have a few accounts EQ doesn't report. They pulled TU. I did not need another card nor really want another new account at that time, but I told the CSR I would like to be able to use the deposit@home feature. She put me on hold and spoke with the underwriter who then approved me for 1k. She told me the Amex was harder to get approved for.

They are great about replying in a timely manner to the emails I have sent but I was trying to get funds deposited to my daughter's account since she was out of town and I sent her with a cancelled credit card. I was trying to save a few dollars and not stress her and her school group out with having to pick up a wire transfer.

Long story short, they DO recon, but would not let me speak directly to the underwriter, so it was a bit of back and forth explaining, but well worth it. They have been excellent to do business with.

[Anonymous]

USAA seems to offer decent products. I was recently approved for AMEX and MC.

Message Edited by FaircreditguyFL on 08-15-2008 04:50 PM

[haulingthescoreup]

I'm delighted with them. They offered me a HELOC out of the clear blue and approved it, back when my EQ was 651. When I asked why, they said that it was because they valued my 28 year history with them more than my scores. Approved for $50K (all I asked for.)

Then they advised me to get my score up. Hey, I'm working on it!

[Anonymous]

Nice!!

[NikJ4]

Not sure who they pull but when you call, your profile also tells us if you are pre-approved for anything. I saw the min credit score was 630 but that does not guarantee approval. Just the score that they use to benchmark,

[nathan]

I spoke to an underwriter from usaa this morning about my cc denial and their excuse is that I already have enough available credit with nayfed and penfed (35k). My utl is 2% and it I wonder if this is normal trend now. First the guy said my acc were too new, and he said any new credit will lower my score, so what? I have only four cc of 36.5k available credit and usaa thinks that is too much? To hell with them.

[NikJ4]

well alrighty then Nathan. Arent you a happy camper.

[sassyat38]

I rec'd a prime of 5.9%, but can someone explain what that means to me??? Please.

[haulingthescoreup]

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@sassyat38 wrote:

I rec'd a prime of 5.9%, but can someone explain what that means to me??? Please.

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Might it be prime PLUS 5.99%? Most CC's these days are variable rate APR instead of fixed. Current prime rate (Wall Street Journal prime rate) is 5%, so prime plus 5.99% would mean a current APR of 10.99%.

Prime rate is easy to follow, you can just google it, plus this is the one that is all over the financial news when they talk about the Fed rate changing, usually followed the next day by the prime rate.