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USAA APR Misleading?

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unc0mm0n1
Established Contributor

Re: USAA APR Misleading?


@Swapmeet wrote:

If it is worth it to you to make a point--to yourself, then close it. USAA will not even notice and you will have your moral victory. In reality, all you will get out of it is less total credit extended to you, which may affect utilization percentage. It is kind of illogical to me, because it has no AF--hence only has good reasons to stay open. What will you gain by closing it?


It's not about moral victories, it's about recieving a benefit you feel you qualify for. I don't know why so many on this site make snide comments like this. OP, I cancelled my USAA accounts a while ago for similar issues. I took my business to other companies that give me the service I desire. 

Last App March 23, 2015. Gardening until November 25, 2015
Current Score: 766 EX 734 EQ 780 TU 6/30/2015Starting Score/Goal Score: 580s/780s across the board
Message 11 of 37
myjourney
Super Contributor

Re: USAA APR Misleading?

Monitoring thread let's stay on the subject and help OP make an informed decision 

 

 

Thanks MJ

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 12 of 37
indiolatino61
Valued Contributor

Re: USAA APR Misleading?


@myjourney wrote:

Monitoring thread let's stay on the subject and help OP make an informed decision 

 

 

Thanks MJ


Oh come on, MJ...now my DW wants one of these to add to her ever increasing collection...lol!

 photo Logo - Credit Card Collection - Data Inclusive_zpskiw5xfjj.jpg photo emerald_zpsfitcxbh5.jpg
Message 13 of 37
takeshi74
Senior Contributor

Re: USAA APR Misleading?


@CreditScoreBlueprint wrote:

I've got flawless credit... 


It doesn't matter how you evaluate your credit.  It's the creditor's evaluation that matters.  Something about your credit doesn't qualify for their best rate for that product.  FWIW my wife has that card and has 7.9 on it but it was the last card in her app spree.

 


@CreditScoreBlueprint wrote:

Is there any point to holding out any longer with USAA... or should I just get another NFCU card and cancel USAA? I'm starting to get the feeling that USAA doesn't lower APR once you've been locked in.


Your call.  The point is always subjective.  I've had USAA lower my APR once in my history with them but most of my history has been rebuilding.  I didn't really get out of rebuilding until last year.  There's plenty of point to the USAA credit products that I use but that's irrelevant to you and you have to act on your needs/wants/goals/priorities/preferences.

 


@CreditScoreBlueprint wrote:

So, I'm wondering how my APR with USAA is 4% higher than their lowest rate when my credit couldn't really get much better than it already is (and I now have two years of history with them). On the other hand, NFCU is giving me their lowest rate available.


Different underwriting criteria.  What one creditor is willing to offer isn't relevant to the next.

 

@CreditScoreBlueprint wrote:

Why are you assuming this is about a "moral victory"?


The tone of your posts.  The sense of entitlement that comes across in your posts.  If you don't qualify you don't qualify.  Again, qualifying for the best terms with creditor A has no relevance to what you qualify for with creditor B.  If you're unhappy with it and have considered all other impacts then close it.  Arguing over whether you qualify or not is pointless as no one but USAA knows what their underwriting crtieria are for 6.9% on that product.  You can't just assume that if you don't qualify then it's false advertising.  If you have any experience with USAA you should be aware that they don't operate that way.  They're not a shady creditor.

Message 14 of 37
bada_bing
Frequent Contributor

Re: USAA APR Misleading?

I've been a USAA member for 25 years. I absolutely love their auto and HO insurance.

The combination of price and service is unbeatable. Experience an insurance claim

with a USAA policy and you'll see what I mean. I keep a USAA card just because it is

a great company, but seldom/never use it.

 

Their CC products are pretty meh . One thing in their defense is they are a very

stable company. I had some pretty dodgy actions from BoA and Citi on my CC account

limits and account numbers during the financial meltdown on 2007-08. USAA was

business as usual at that time.

 

I'm a little curious why the APR even matters to the OP. My profile is similar, and to be honest

I don't know what the APR is on any card I have. I've never used a CC APR. If I was going

to carry a CC balance, I'd keep a card for the purpose with a 0% introductory teaser.  I

wouldn't take the APR assigned to a CC account too personal, it wasn't a human that

made the judgement, it was a computer algorithm. 

 

One other thing worth mentioning is that USAA seems to allow inactive CC to persist for

a long time. I had a USAA card that was inactive for 8 years. They never cancelled it. I

PC'd it a couple years ago to the Cash Rewards card and now use it occasionally. If

you really don't like a USAA card, just sock drawer it and forget it. It probably will age for

a decade before they cancel it. 

+ 850 FICO8 since 2015, Thanks MyFICO - 5+ years since last HP
Message 15 of 37
Swapmeet
Valued Contributor

Re: USAA APR Misleading?



The tone of your posts.  The sense of entitlement that comes across in your posts.  If you don't qualify you don't qualify.  Again, qualifying for the best terms with creditor A has no relevance to what you qualify for with creditor B.  If you're unhappy with it and have considered all other impacts then close it.  Arguing over whether you qualify or not is pointless as no one but USAA knows what their underwriting crtieria are for 6.9% on that product.  You can't just assume that if you don't qualify then it's false advertising.  If you have any experience with USAA you should be aware that they don't operate that way.  They're not a shady creditor.


Exactly. People act all fed up on here all the time, like they deserve this, that, or the other thing. It's not like their cs is 800+...But get all snobby-sounding or tantrum throwing if they don't get their way. Then people say things like "if they think or do, or don't do X, then I'm taking my business elsewhere"....As if whatever creditor is going to mourn the loss of your business. As someone else said: if you want the best rate, then come with the best credit score----which you aren't even close to. Sorry if I came off rude, but I just don't know how else to say it.



My Wallet:
WalMart: ||15k|| USAA Platinum MC: ||26k|| BCE: ||9k|| Chase Freedom Siggy: ||10k|| Discover it: ||6.5k|| SG Visa: ||11k||
USAA World MC: ||23k|| US Bank Cash+ Siggy: ||7.5k|| Citi TYP World MC: ||12k|| Barclays Arrival World MC: ||13k||Citi Double Cash World MC ||25k||Sallie Mae World MC ||18.8k||Fico Scores (3 Fico Monitoring): EQ 751,TU 749, EX 743. Last app: 9-12-14 Sallie
Message 16 of 37
unc0mm0n1
Established Contributor

Re: USAA APR Misleading?


@Swapmeet wrote:


The tone of your posts.  The sense of entitlement that comes across in your posts.  If you don't qualify you don't qualify.  Again, qualifying for the best terms with creditor A has no relevance to what you qualify for with creditor B.  If you're unhappy with it and have considered all other impacts then close it.  Arguing over whether you qualify or not is pointless as no one but USAA knows what their underwriting crtieria are for 6.9% on that product.  You can't just assume that if you don't qualify then it's false advertising.  If you have any experience with USAA you should be aware that they don't operate that way.  They're not a shady creditor.


Exactly. People act all fed up on here all the time, like they deserve this, that, or the other thing. It's not like their cs is 800+...But get all snobby-sounding or tantrum throwing if they don't get their way. Then people say things like "if they think or do, or don't do X, then I'm taking my business elsewhere"....As if whatever creditor is going to mourn the loss of your business. As someone else said: if you want the best rate, then come with the best credit score----which you aren't even close to. Sorry if I came off rude, but I just don't know how else to say it.


Myjourney I always get a "play nice" but are you going to really let a comment like that go? The OP doesn't sound entitled, "snobby" or like he's "throwing a tantrum" to me. He sounds like a customer you believes that he isn't receiving the level of service he has from other lenders. He didn't say USAA would mourn anything that was something other posters brought up. Even if the creditor isn't going to mourn losing him that doesn't mean if he is unsatisfied he shouldn't leave. If it bothers you so much why respond? The OP was looking for similar experiences to see if his situation was abnormal. Clearly it's not. Now that he has that information he can make an informed decision whether to stay with USAA or not. There is no need to resort to childish namecalling.

Last App March 23, 2015. Gardening until November 25, 2015
Current Score: 766 EX 734 EQ 780 TU 6/30/2015Starting Score/Goal Score: 580s/780s across the board
Message 17 of 37
myjourney
Super Contributor

Re: USAA APR Misleading?


@unc0mm0n1 wrote:

@Swapmeet wrote:


The tone of your posts.  The sense of entitlement that comes across in your posts.  If you don't qualify you don't qualify.  Again, qualifying for the best terms with creditor A has no relevance to what you qualify for with creditor B.  If you're unhappy with it and have considered all other impacts then close it.  Arguing over whether you qualify or not is pointless as no one but USAA knows what their underwriting crtieria are for 6.9% on that product.  You can't just assume that if you don't qualify then it's false advertising.  If you have any experience with USAA you should be aware that they don't operate that way.  They're not a shady creditor.


Exactly. People act all fed up on here all the time, like they deserve this, that, or the other thing. It's not like their cs is 800+...But get all snobby-sounding or tantrum throwing if they don't get their way. Then people say things like "if they think or do, or don't do X, then I'm taking my business elsewhere"....As if whatever creditor is going to mourn the loss of your business. As someone else said: if you want the best rate, then come with the best credit score----which you aren't even close to. Sorry if I came off rude, but I just don't know how else to say it.


Myjourney I always get a "play nice" but are you going to really let a comment like that go? The OP doesn't sound entitled, "snobby" or like he's "throwing a tantrum" to me. He sounds like a customer you believes that he isn't receiving the level of service he has from other lenders. He didn't say USAA would mourn anything that was something other posters brought up. Even if the creditor isn't going to mourn losing him that doesn't mean if he is unsatisfied he shouldn't leave. If it bothers you so much why respond? The OP was looking for similar experiences to see if his situation was abnormal. Clearly it's not. Now that he has that information he can make an informed decision whether to stay with USAA or not. There is no need to resort to childish namecalling.


I saw both comments and so I'm encouraging all to play nice not just you and that includes all threads.Smiley Happy

I love a lively debate and encourage all to add to the conversation in a respectful and supportive manner 

However when the name calling and other comments are made that's when I step in and remind all to observe the TOS

Thanks MJ 

 

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 18 of 37
Shogun
Moderator Emeritus

Re: USAA APR Misleading?

jim carrey popcorn.jpg

 

Lets keep to the OP's topic please.  Smiley Happy

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
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Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 19 of 37
longtime_lurker
Valued Contributor

Re: USAA APR Misleading?

Dat image though

Current cards: MSUFCU Platinum, Amex PRG, Amex Surpass, Amex BCE, Citi Prestige, Citi Double Cash, Citi Premier, US Bank Cash +, Huntington Voice, AAviator, Sallie Mae, Discover IT, Chase Freedom TU:753 EQ Enhanced: 758
Message 20 of 37
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