Should i apply for USAA (approved?)

[LTomBerry]

With the USAA MC you can request a CLI every 6 months. They soft pull for CLIs and they don't let you ask for a specific amout of CLI, they just tell you what you get. I went from 3k to 11k and now to 14k.

[keikdasneak]

Still haven't received a email or anything yet.

[climbinghigher]

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@keikdasneak wrote:

Hi guys/gals

 

This forum has always been helpful in my decision with credit and learning from other experiences. I am looking to apply for USAA credit card but i am curious if i even have a chance. I want to close 1 of my small balance credit cards and hopefully open another card up with USAA with a better interest rate and higher limit.

 

Equifax is 728 Fico Score

 

Here is a little summary of my credit report.

 

Length of Credit History: 11 Years , 5 Months
Average Account Age: 2 Years, 11 Months

 

Public Records - 0
Negative Accounts - 1
Collections - 0

 

Inquiries in the Last 2 Years - 14

Hi..I was just approved for a Usaa Platinum a couple of months ago. I responded to an offer in the mail. My TU fico score runs about 725 to 735. The only credit I have is 2 Cap One cards. I have tax liens that will drop 03/2012. My CL was 3k. My wife started with a Platinum at 3k and shortly was offered a World card for 11k and was approved. We have our insurance with them and have always been happy. Good luck on your decision.

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[keikdasneak]

Just got off the phone with them, had to verify some information.....

You've been approved for a USAA Platinum MasterCard

$4,000

Purchase APR
23.9% (Prime+20.65%)

Cash Advance and Balance Transfer APR
23.9% (Prime+20.65%

[tata]

Wow, that seems like a high APR!!!

[score_building]

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@tata wrote:

Wow, that seems like a high APR!!!

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For whatever reason OP applied with balances on 6 out of 8 accts which, to some degree, led to somewhat suboptimal scores and appearing to be higher risk; this approach may've easily influenced the CL and subprime rate offered. 

To those thinking of app while profile is suboptimal, especially if seeking good terms as OP initially stated, it is important to consider that the terms can be impacted negatively by various items which include high UTI, too many accts showing balances, etc. and to tweak profile prior to jumping in, if possible.

[keikdasneak]

Yeah apr is high..

[UFGuy2006]

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@score_building wrote:

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@tata wrote:

Wow, that seems like a high APR!!!

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For whatever reason OP applied with balances on 6 out of 8 accts which, to some degree, led to somewhat suboptimal scores and appearing to be higher risk; this approach may've easily influenced the CL and subprime rate offered. 

To those thinking of app while profile is suboptimal, especially if seeking good terms as OP initially stated, it is important to consider that the terms can be impacted negatively by various items which include high UTI, too many accts showing balances, etc. and to tweak profile prior to jumping in, if possible.

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I applied earlier this year with great scores and high CL on other cards - got the same APR and a CL of 12k. Was told the rate was higher as I am only a limited member.

[keikdasneak]

I am a limited member as well, that is probably the reason.

[score_building]

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@UFGuy2006 wrote:

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@score_building wrote:

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@tata wrote:

Wow, that seems like a high APR!!!

---

For whatever reason OP applied with balances on 6 out of 8 accts which, to some degree, led to somewhat suboptimal scores and appearing to be higher risk; this approach may've easily influenced the CL and subprime rate offered. 

To those thinking of app while profile is suboptimal, especially if seeking good terms as OP initially stated, it is important to consider that the terms can be impacted negatively by various items which include high UTI, too many accts showing balances, etc. and to tweak profile prior to jumping in, if possible.

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I applied earlier this year with great scores and high CL on other cards - got the same APR and a CL of 12k. Was told the rate was higher as I am only a limited member.

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I am a limited member with a multiple acct history for a few yrs, app with 7% UTI and bal on 1 acct, approved for 5 figure CL at 10% APR.  Yes, limited members seem to have a more rigorous review process, however, it is apparently possible to be approved for favorable terms if app with credentials that support them, at least IME.  Limited members may not necessarily be doomed to subprime terms with USAA, or perhaps I just got lucky.

Frontline csr may not have complete information about the range of terms available to limited members but any number of items, also under review- such as length, depth and status of acct history with USAA, UTI, # of acct with balances, # of recent accts opened, EQ score, length of time at job/housing location, DTI all can provide compelling evidence for more favorable terms- regardless of membership status.

Long ago there was a thread in which another member argued vehemently that USAA was not well suited for limited members compared to some other lenders due to the terms offered, this may be true in some cases. However, it is probably worth highlighting for those considering an approach as a limited member (who perhaps also desire the most favorable terms possible) that they are not necessarily completely out of reach.   FWIU, IME app at a time when a profile is as close to pristine and as relatively strong on all fronts as possible, prior to pulling the trigger, seems to offer the best odds.