USAA Classic Rewards - Pump or Dump

[sparklerd34]

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@Anonymous wrote:

I had 2 of the very same cards for roughly 19 months with no CLI.    After 20 months with no action from them,  I applied for the Cash Rewards AMEX card and was approved for 16K at 12.9 % APR then 5 minutes later applied for the Preferred Cash Rewards World Mastercard and was given another 16K approval at 14.9% APR.   Both cards only cost me 1 HP on EQ.     After I recieved the new cards,  I switched over some auto pays I had on the Classic cards to the new cards and once everything was finally switched over I closed both classic cards.    For the record, one classic mastercard had a 1K limit and the other a 2K limit.   

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Thats good to know my limit is small 500 CL and ive had the card since October. Since i have the other card with rewards from Capital one i dont use the USAA card as my primary card anymore.  i am keeping the amounts low and hopefully after the 18 months it will be worth it.  I have to ask with the AMEX doesnt it have to be paid in full each month?  Also is the world mastercard tiered? I was wondering.? I have my auto insurance with them too really low payments love it.

[jologan79]

Sounds good to me... Ill try to follow your path..  

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@Anonymous wrote:

I had 2 of the very same cards for roughly 19 months with no CLI.    After 20 months with no action from them,  I applied for the Cash Rewards AMEX card and was approved for 16K at 12.9 % APR then 5 minutes later applied for the Preferred Cash Rewards World Mastercard and was given another 16K approval at 14.9% APR.   Both cards only cost me 1 HP on EQ.     After I recieved the new cards,  I switched over some auto pays I had on the Classic cards to the new cards and once everything was finally switched over I closed both classic cards.    For the record, one classic mastercard had a 1K limit and the other a 2K limit.   

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[Leadberry]

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@jologan79 wrote:

So Ive had the USAA classic rewards for 6 months now.  I called to see if I could get a SP increase and they said no I can't request a CLI on the classic car.  They said it is automatically review after 18 months. No Joy!!! 

So I'm thinking what should I do now? Is this card with hold on to for a 1year based on the cards I already have. 

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FYI, USAA usually offers you the Classic card if you apply for one of their normal credit products and don't quite have the profile for approval. The usual terms are $1,000 fixed CL, fixed APR (22.9%?), no rewards, no BT's. It's somewhat similar to a secured card in that they review the account for graduation to a standard credit product after 18 months. If/when you graduate, the card will become a USAA Platinum Visa/MC. The rewards structure on the card is poor, and USAA does not do PC's.

[sparklerd34]

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@Leadberry wrote:

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@jologan79 wrote:

So Ive had the USAA classic rewards for 6 months now.  I called to see if I could get a SP increase and they said no I can't request a CLI on the classic car.  They said it is automatically review after 18 months. No Joy!!! 

So I'm thinking what should I do now? Is this card with hold on to for a 1year based on the cards I already have. 

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FYI, USAA usually offers you the Classic card if you apply for one of their normal credit products and don't quite have the profile for approval. The usual terms are $1,000 fixed CL, fixed APR (22.9%?), no rewards, no BT's. It's somewhat similar to a secured card in that they review the account for graduation to a standard credit product after 18 months. If/when you graduate, the card will become a USAA Platinum Visa/MC. The rewards structure on the card is poor, and USAA does not do PC's.

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Yea I saw but I guess something is better than nothing when you are rebuilding. I was bummed when they told me and I would have to use a hp to see about any other rewards card they offer. Usaa is my first card since rebuilding so I don't want to close it.  I've read you have to have a 5k for the Amex and don't you have to pay it off every month?

[Anonymous]

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@sparklerd34 wrote:

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@Anonymous wrote:

I had 2 of the very same cards for roughly 19 months with no CLI.    After 20 months with no action from them,  I applied for the Cash Rewards AMEX card and was approved for 16K at 12.9 % APR then 5 minutes later applied for the Preferred Cash Rewards World Mastercard and was given another 16K approval at 14.9% APR.   Both cards only cost me 1 HP on EQ.     After I recieved the new cards,  I switched over some auto pays I had on the Classic cards to the new cards and once everything was finally switched over I closed both classic cards.    For the record, one classic mastercard had a 1K limit and the other a 2K limit.   

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Thats good to know my limit is small 500 CL and ive had the card since October. Since i have the other card with rewards from Capital one i dont use the USAA card as my primary card anymore.  i am keeping the amounts low and hopefully after the 18 months it will be worth it.  I have to ask with the AMEX doesnt it have to be paid in full each month?  Also is the world mastercard tiered? I was wondering.? I have my auto insurance with them too really low payments love it.

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Sparklerd34,   The AMEX cards issued by USAA do not need to be paid in full each month.   

[sparklerd34]

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@Anonymous wrote:

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@sparklerd34 wrote:

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@Anonymous wrote:

I had 2 of the very same cards for roughly 19 months with no CLI.    After 20 months with no action from them,  I applied for the Cash Rewards AMEX card and was approved for 16K at 12.9 % APR then 5 minutes later applied for the Preferred Cash Rewards World Mastercard and was given another 16K approval at 14.9% APR.   Both cards only cost me 1 HP on EQ.     After I recieved the new cards,  I switched over some auto pays I had on the Classic cards to the new cards and once everything was finally switched over I closed both classic cards.    For the record, one classic mastercard had a 1K limit and the other a 2K limit.   

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Thats good to know my limit is small 500 CL and ive had the card since October. Since i have the other card with rewards from Capital one i dont use the USAA card as my primary card anymore.  i am keeping the amounts low and hopefully after the 18 months it will be worth it.  I have to ask with the AMEX doesnt it have to be paid in full each month?  Also is the world mastercard tiered? I was wondering.? I have my auto insurance with them too really low payments love it.

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Sparklerd34,   The AMEX cards issued by USAA do not need to be paid in full each month.   

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Thanks for the info Cheif_Wahoo I think for me later when my credit is in a better zone I will try for their master card and or Amex . I feel I may get better use than a Chase Freedom with categories that's too complicated for me

[Anonymous]

I have the same USAA classic card: 1K limit, $35 AF, opened in 2012, not used since 8/2014.  I've tried to cancel it but they keep talking me out of it because I have a relatively short history on my new cards, except for the AMEX that I got in 2013 and was backdated to 1991.  I don't want to pay the AF that is due in June.   I checked the USAA card on-line today and for the first time saw a credit score displayed.  It was 705 experian vantage of some sort report date 1/31/2015.  I emailed the bank to see what this means and if they will upgrade the card, otherwise I will close it.  I have 5 other cards and have more than what I need (except for my obsession for an AMEX revolver). My therapist keeps yelling at me about having too many cards.  I am compulsive, after all, but I'm OLD! ;-)

[jologan79]

Did you ever get the new card?

[takeshi74]

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@sparklerd34 wrote:

I've read you have to have a 5k for the Amex and don't you have to pay it off every month?

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USAA doesn't offer any charge cards.  IIRC the limit on my USAA AmEx was under $5K when I first got it.

Make sure you understand the differences between a Centurion/AmEx issued card and an AmEx issued by a different creditor.  Don't assume that all AmEx's are charge cards.

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@sparklerd34 wrote:

I feel I may get better use than a Chase Freedom with categories that's too complicated for me

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The categories really aren't that complicated but if you don't want to bother with changing categories then don't.  Rather than rely on feel, run the numbers for your spend to determine the rewards you'd stand to get.  You should be doing this for any card you're considering.

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@Anonymous wrote:

I've tried to cancel it but they keep talking me out of it because I have a relatively short history on my new cards, except for the AMEX that I got in 2013 and was backdated to 1991.

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Be sure you're looking at AAoA.  As for closing, keep this in mind (linked in the Helpful Threads sticky in this subforum):

http://ficoforums.myfico.com/t5/Credit-Cards/Closing-Credit-Cards/m-p/347190?jump=true

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@Anonymous wrote:

I checked the USAA card on-line today and for the first time saw a credit score displayed.  It was 705 experian vantage of some sort report date 1/31/2015.  I emailed the bank to see what this means and if they will upgrade the card, otherwise I will close it.

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IIRC USAA does not use VantageScore for their credit decisions.

[jologan79]

You have me second guessing.... 

I need to double check myself. 

I just got the delta sky miles Amex. Is it a charge card or revolving?