Reply
Moderator
webhopper
Posts: 7,230
Registered: ‎09-16-2011

Calling all USAA Members!!

I'm going to take advantage of my employers employee stock purchase program... I can do the stock purchase of up to 10k per year and get back 1/3 of that in cash free. But I have to hold the stock for 3 yrs minimum.

My emploeyers financial position is very strong and their stock yields a 10 cent per share income monthly.

Does anyone use a USAA brokerage account? Does it make you more likely to be approved for their credit cards? For me; reviews are good for USAA in particular and I'm only buying this single stock...

Bottom line is that I trust usaa more with my money than the other online brokerages available.

Anyone have feedback or want to share their experiences?? Thanks!

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



Take the myFICO Fitness Challenge
Valued Contributor
RockinRay
Posts: 1,933
Registered: ‎08-13-2007

Re: Calling all USAA Members!!


webhopper wrote:
I'm going to take advantage of my employers employee stock purchase program... I can do the stock purchase of up to 10k per year and get back 1/3 of that in cash free. But I have to hold the stock for 3 yrs minimum.

My emploeyers financial position is very strong and their stock yields a 10 cent per share income monthly.

Does anyone use a USAA brokerage account? Does it make you more likely to be approved for their credit cards? For me; reviews are good for USAA in particular and I'm only buying this single stock...

Bottom line is that I trust usaa more with my money than the other online brokerages available.

Anyone have feedback or want to share their experiences?? Thanks!

I have a brokerage account with them and have had zero issues. Easy to buy / sell and the site is super easy to use.

 

As for credit cards, I am not sure what to tell you there. I doubt it would make any difference - investment or no investment account.

 

I would think that USAA would be happy to issue you a card. I carry their World MC and have a 7.75% interest rate. Good card to carry.

 

Good luck and let us know what you decide to do!

Ray

** Every Card has a Job, and Every Card does its Job **

Valued Contributor
dodfire
Posts: 1,453
Registered: ‎04-14-2012

Re: Calling all USAA Members!!

I also have brokerage account with USAA, automatic investment per month..super easy and friendly. 

I have their CC's but not sure if it makes a difference.

*8/10/13
Moderator
webhopper
Posts: 7,230
Registered: ‎09-16-2011

Re: Calling all USAA Members!!

Thank you Ray!

 

It's nice to hear from someone that uses USAA as a brokerage.  I am not intending to apply at this moment, but I was looking at the EMV option on the MC, and I may go for USAA when I do my next spree. 

 

I wonder if they offer EMV in Amex, looking at the affiliate cards, would be nice to have one showing our support of the affiliates.


Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



Take the myFICO Fitness Challenge
Moderator
webhopper
Posts: 7,230
Registered: ‎09-16-2011

Re: Calling all USAA Members!!

I was reading, no maintenance fee. and $8.95 trades?  Does this seem right?

 

Are there any other fees I should know about, I've read the disclosure but I didn't see any that jumped out at me


Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



Take the myFICO Fitness Challenge
Frequent Contributor
coterotie
Posts: 383
Registered: ‎11-30-2012

Re: Calling all USAA Members!!

[ Edited ]

I have or manage brokerage accounts at USAA, eTrade, TIAA-CREF and Sharebuilder.  If all you do is buy stocks and don't trade, USAA is fine.  The interface is rudimentary, money transfers are seamless between accounts.  However, if you want to buy some stuff using limits or trade an IPO pop, it is not robust in any way and has cost me money.  Sharebuilder has an excellent monthly investment program and the absolute lowest fees I have found anywhere.  The interface is okay, the free-riding warnings can't be turned off and to transfer an IRA somewhere else costs $75 which is robbery.  You can accomplish the transfer by selling out of your positions and then converting to cash, but that's also going to generate fees.  TIAA-CREF is the worst of the bunch.  You can't move money between accounts instantly, they don't allow any form of free-riding so you have to cash out of a position, wait 3 business days and then re-invest.  If you are moving from one area of the account to another, the trip is about 4 business days.  They have cost us thousands of dollars in lost gains. 

 

I use eTrade for active trading. I do have a real live human being I can ask questions of when I need some technical help.  (not software support, but trading and position requirements)

Super Contributor
CS800
Posts: 6,542
Registered: ‎04-07-2008

Re: Calling all USAA Members!!

[ Edited ]

RockinRay wrote:

webhopper wrote:
I'm going to take advantage of my employers employee stock purchase program... I can do the stock purchase of up to 10k per year and get back 1/3 of that in cash free. But I have to hold the stock for 3 yrs minimum.

My emploeyers financial position is very strong and their stock yields a 10 cent per share income monthly.

Does anyone use a USAA brokerage account? Does it make you more likely to be approved for their credit cards? For me; reviews are good for USAA in particular and I'm only buying this single stock...

Bottom line is that I trust usaa more with my money than the other online brokerages available.

Anyone have feedback or want to share their experiences?? Thanks!

I have a brokerage account with them and have had zero issues. Easy to buy / sell and the site is super easy to use.

 

As for credit cards, I am not sure what to tell you there. I doubt it would make any difference - investment or no investment account.

 

I would think that USAA would be happy to issue you a card. I carry their World MC and have a 7.75% interest rate. Good card to carry.

 

Good luck and let us know what you decide to do!


+ 1

 

I have a brokerage account with them and it is very easy to use and the support is outstanding, you can't go wrong.






Senior Contributor
Open123
Posts: 3,849
Registered: ‎02-23-2011

Re: Calling all USAA Members!!


coterotie wrote:

If all you do is buy stocks and don't trade, USAA is fine. 


+1

 

Just about all brokerage accounts have standard SIPC investment protection up to $500K ($100K in cash) and most have private insurance exceeding up $1M in cash and upwards of $100M for securities.

 

If you're holding securites, there is no solvency risk.  For a buy and hold (not infrequenting buying such as DCA), USAA is fine at $8.95 per trade.  If you're buying frequently, much better deals can be had:  (1) Merrill Edge with 30 free trades per month; (2) Wells Fargo with 100 per year; (3) Fidelity with a 50K UA bonus for opening up or transfering an account; (4) Scottrade with excellent options platform software at $7.95 per trade; (5) and, finally interactive broker if you're looking to research your own stuff in the future.

 

Frequent Contributor
suebee123
Posts: 251
Registered: ‎11-13-2011

Re: Calling all USAA Members!!

I have their brokerage account and IRA.  Along with credit cards and an installment loan.  They are my favorite bank.  Super easy to set up and manage.  

Current: EQ Fico (700), EX Fico AMX (681) TU Fico Walmart (711) MyFico TU (708) Vantage: TU 803, EX 777, EQ 789
Goal: 700+ across the board.
Contributor
mojobones89
Posts: 252
Registered: ‎01-21-2013

Re: Calling all USAA Members!!

idk about the whole stocks and broker area but as far as their cc's,i got approved when i open an account with them....a decent starting off limit but besides that there is nothing special about a  usaa cc....IMO


suebee123 wrote:

I have their brokerage account and IRA.  Along with credit cards and an installment loan.  They are my favorite bank.  Super easy to set up and manage.  


 


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+