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Just got of the phone with a senior customer service rep from USAA bank in re my AmEx.
I called yesterday asking (worth a shot, no?) for a CLI and interest rate decrease, she told me that due the times I don't qualify for a CLI but am going to get an interest rate decrease from my current 9.99 to 8.99 then in January it will go down to 8.4. I asked when it would take effect, she told me immediately.
So I check online... and check.... and check... and check and now it's today. Nothing changed. So I called back and asked why it hasn't changed. The new CSR told me that I don't qualify and that my rate is going to increase to 11.9 in February!! WTF So from one day to the next I go from getting a rate decrease to a rate increase?!? So she put me on hold and told me that I never talked to anyone yesterday (what a lie!!). I have never had this foul of service at USAA! Then she put me on hold again then it hung up.
I called back and asked to speak to a supervisor immediately and got some lip service. She said everyone is getting a rate increase in February (i thought the Fed decrease would help with lowering our rates, i could be wrong). I asked her how someone like me who has early every month and has never paid just min's but really over paid per month (the last two month payments totaled to $2300 and I only have a $3800 balance!). She stated it was just the times.
What a crock. Heads up everyone, I have been searching on USAA being naughty or nice - looks like they are just like the rest of the CCC crooks.
I'm pissed, sorry if i offended anyone and yes I have been a HUGE USAA supporter (I live in San Antonio).
@deskjockey101 wrote:Just got of the phone with a senior customer service rep from USAA bank in re my AmEx.
I called yesterday asking (worth a shot, no?) for a CLI and interest rate decrease, she told me that due the times I don't qualify for a CLI but am going to get an interest rate decrease from my current 9.99 to 8.99 then in January it will go down to 8.4. I asked when it would take effect, she told me immediately.
So I check online... and check.... and check... and check and now it's today. Nothing changed. So I called back and asked why it hasn't changed. The new CSR told me that I don't qualify and that my rate is going to increase to 11.9 in February!! WTF So from one day to the next I go from getting a rate decrease to a rate increase?!? So she put me on hold and told me that I never talked to anyone yesterday (what a lie!!). I have never had this foul of service at USAA! Then she put me on hold again then it hung up.
I called back and asked to speak to a supervisor immediately and got some lip service. She said everyone is getting a rate increase in February (i thought the Fed decrease would help with lowering our rates, i could be wrong). I asked her how someone like me who has early every month and has never paid just min's but really over paid per month (the last two month payments totaled to $2300 and I only have a $3800 balance!). She stated it was just the times.
What a crock. Heads up everyone, I have been searching on USAA being naughty or nice - looks like they are just like the rest of the CCC crooks.
I'm pissed, sorry if i offended anyone and yes I have been a HUGE USAA supporter (I live in San Antonio).
sorry to hear this has adversely affected you.
news of the USAA rate hike was posted here several days ago, and if i rememeber correctly it will apparently be a global hike across certain cards (not based on your credit profile necessarily). still a better choice than Advanta for example where creditaddict posted a hike close to 40% yesterday but not good news for USAA card holders who carry balances. yet another reason to pif in this climate.
from the looks of it, however, the USAA climate changes will not be as harsh or as enduring as with some other issuers- though only time will tell... 11.9% is still considered (the high end of) "low rate" and requires v. good to excellent credit to qualify for (at application) by many lenders.
@deskjockey101 wrote:So she put me on hold and told me that I never talked to anyone yesterday (what a lie!!). I have never had this foul of service at USAA! Then she put me on hold again then it hung up.
I got this letter too and it clearly states that it has nothing to do with me, or my credit. Just that everyone is going through hard times. It is still not that much of an increase and of ALL the banks I have, this is the one I would gladly pay for the raise in APR and not complain.
I was on the phone for probably 2 hrs yesterday applying for property insurance. The CSR was so helpful and let me know of all of the extra things that they are willing to help me with when my husband does deploy. If she had not mentioned it, I would not have known. It's a good feeling to know I have financial institution to turn to for support when the time comes. This bank is there for their military members and I am thankful for that. They have saved me in times of need previously and I cannot say enough for their service to my family.
ALL of the banks are in trouble and they are only doing what they need to do to try to stay afloat. This crisis will not last forever and I am sure when things settle down, USAA will be one of the first to lower the APR's that I am sure they didn't want to have to raise in the first place. It's just business. But it is one that does have compassion for it's members. They didn't just go jack your APR with no explanation or surprise or lie and say they found something on your credit reports, like some other well known talked about CCC we constantly speak of here. They sent a rather pleasant letter, IMO.
@haulingthescoreup wrote:
I do wish that USAA had not started outsourcing their CS.
Off topic a bit but USAA years ago outsourced most of their data processing services and many people lost their jobs. I almost went to work for them but I had inside info on that issue.
Back on topic but in these times, ad rate jacking on your list of why it is a good idea to pay CC down as fast as possible and PIF even better.
Need to revolve a balance for a major purchase - use a store card at 0% interest as long as you can PIF ebfore the time period is up.
When did everybody receive this letter?
I haven't received one and my APR was just lowered as of my 20 Dec statement to 5.75% on my AMEX & MC.
I NEVER got a letter, nor has one shown up on my internal USAA banking page...
I'm just going to pay this card off and sock drawer it, I just hope they don't resort to what the other CCC's are doing: lowering you CL as you pay it off, that would really suck.
For those of you that seem to be supporting the banks/CCC's with all of their "honesty", read again how i stated from one day I was told that I was getting two interest rate reductions to the next day stating i'm getting a rate increase. The CS even told me that I never talked to someone the day before... it was funny how I caught her lying on that one, she was speechless when I nicely called her on it.
It hasn't been the same since they moved CS calls away from SA.