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Established Contributor
Posts: 576
Registered: ‎11-13-2008
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USAA Credit Card APR!! Questions?!

OK I just pulled the trigger and apped for a USAA World Mastercard. My EQ is 710. 0 inq. AAoA is 4 years. No baddies.

They approved me instantly for $9800.00 with a whopping 23.9% APR.

 

1. Do they ever lower their APR with a relationship?

2. How often do they CLI? I probably won't be carrying a balance but curious?

3. Do they ever have balance transfer offers?

 

Thanks

Super Contributor
Posts: 5,984
Registered: ‎05-23-2009
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Re: USAA Credit Card APR!! Questions?!

Congrats on your approval!!!!

 

1) I don't know. I never asked for lower APR because I got their lowest rate.

2) Last year, I asked for CLI. I got denied because I have sufficient credit with them. This year, I applied for USAA Amex and I got instantly approved!!! Go figure!!!

3) They sent me a couple of times with the statement. I never used it .  I put into shredder.

 

 

Ron.

Frequent Contributor
Posts: 482
Registered: ‎03-13-2008
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Re: USAA Credit Card APR!! Questions?!

[ Edited ]

I am a USAA cc rep:

 

1) no, we ae not lowering APRs right now. You can keep checking back in, you can even call and request it, you can go so far as to escalate to ERT, but we're not lowering interest rates. The function to lower APRs has been disabled for us peon reps. If you are pushing for your apr to lower I would immediately ask for a sup, but they are very tight on such things. I have seen once where the apr lowered, and it was only lowered by 1%.

 

2) Every 6 months, you usually have to call in. USAA, like most banks, have been tightening their purses, though. We are actually in the process of decreasing credit lines. I'm talking from $25000 limits to $3000. And if you will not be carrying a blance I wouldn't sweat the APR.  $9800 is a great credit limit for USAA. Our underwriting team is rigid, and members can't be transferred to them. You would basically have to go through us, where we put you on hold for the next 45 minutes (underwriting is always busy) while we wait for the dept to pick up.  If you are unhappy with your credit limit and want something higher they will want a reason and a very good reason. Also keep in mind that your liasion is the rep you are speaking with, so you want to get on their good side because we will go to bat for you. Acting like an entitled jerk is not the way to get a CLI :smileywink: Most of the time though you get what you get. When you are approved for a cc you are approved for the max liability that the bank will allow for you. But it has happened where people have gotten higher limits. It is rare, though.

 

3) Yes, and it is the marketing dept that handles that. We have no idea when someone is approved for BT offers. BT offers usually run for 12 months, 0% w/ a transaction fee of 3% or $75 whichever is LESS. Sometimes they waive the fee.



In the garden until December 4, 2015
Regular Contributor
Posts: 127
Registered: ‎07-26-2010
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Re: USAA Credit Card APR!! Questions?!

[ Edited ]

Interesting comments from barbaralee.

 

Their website still says:

 

Copyright © 2011 USAA.

 

1Offer subject to approval. As of 04/01/2011, APRs are 8.9% to 23.9%, depending on your credit history and other factors. APRs will vary with the market based on the Prime Rate. There is a transaction fee of 3% on cash advances ($75 maximum on balance transfers and convenience checks) and 1% on foreign transactions.

-------------------------------

 

So I have to believe some are still getting the lower rates, and most major banks are still offering single digit APR's currently as money is so cheap right now...


Starting Score: TU 699 EQ 651 EX FAKO 705
Current Score: TU 724 EQ 714 EX FAKO 770
Goal Score: 760
Regular Contributor
Posts: 146
Registered: ‎01-26-2011
0

Re: USAA Credit Card APR!! Questions?!

Damn that APR is horrible.

Regular Contributor
Posts: 246
Registered: ‎01-25-2008
0

Re: USAA Credit Card APR!! Questions?!

[ Edited ]

WIth that rate, it sounds like you applied with HSBC geez. I would think USAA would be doing really great, they did outsource a lot of job's in San Antonio, so that should've lowered their labor cost. The economy is about to take a turn for the worse, lending is gonna be harder than it ever was before.

Frequent Contributor
Posts: 309
Registered: ‎07-19-2010
0

Re: USAA Credit Card APR!! Questions?!

The apr is horrible, but it doesn't mean a thing if you pif each month.

Senior Contributor
Posts: 3,626
Registered: ‎10-13-2009
0

Re: USAA Credit Card APR!! Questions?!

[ Edited ]

 

Internet connection dropped after hitting post.  :smileysad:

IAALBNYL
Senior Contributor
Posts: 3,626
Registered: ‎10-13-2009
0

Re: USAA Credit Card APR!! Questions?!

[ Edited ]

barbaralee wrote:

I am a USAA cc rep:

 

1) no, we ae not lowering APRs right now. You can keep checking back in, you can even call and request it, you can go so far as to escalate to ERT, but we're not lowering interest rates. The function to lower APRs has been disabled for us peon reps. If you are pushing for your apr to lower I would immediately ask for a sup, but they are very tight on such things. I have seen once where the apr lowered, and it was only lowered by 1%.

 

2) Every 6 months, you usually have to call in. USAA, like most banks, have been tightening their purses, though. We are actually in the process of decreasing credit lines. I'm talking from $25000 limits to $3000. And if you will not be carrying a blance I wouldn't sweat the APR.  $9800 is a great credit limit for USAA. Our underwriting team is rigid, and members can't be transferred to them. You would basically have to go through us, where we put you on hold for the next 45 minutes (underwriting is always busy) while we wait for the dept to pick up.  If you are unhappy with your credit limit and want something higher they will want a reason and a very good reason. Also keep in mind that your liasion is the rep you are speaking with, so you want to get on their good side because we will go to bat for you. Acting like an entitled jerk is not the way to get a CLI :smileywink: Most of the time though you get what you get. When you are approved for a cc you are approved for the max liability that the bank will allow for you. But it has happened where people have gotten higher limits. It is rare, though.

 

3) Yes, and it is the marketing dept that handles that. We have no idea when someone is approved for BT offers. BT offers usually run for 12 months, 0% w/ a transaction fee of 3% or $75 whichever is LESS. Sometimes they waive the fee.


1.  Although the front line reps cannot do this, higher level personnel can.  I have recently had one of my rates lowered to equal the very low rate I have on my first USAA card.  I have friends who have been successful recently with a 1% reduction.

 

2.  Every 6 months.  Been there, done that and got an easy CLI.  They often pull your credit, though.

 

3.  You're right.  The maximum is $75.  And even then, there are ways to do a defacto balance transfer with zero fees, but at your normal interest rate. 

IAALBNYL
Established Contributor
Posts: 576
Registered: ‎11-13-2008
0

Re: USAA Credit Card APR!! Questions?!

How do I add someone to the acct an a AU. It says to add them to your profile and then go to acct summary and order card. I tried to do this and it will

not put the name in the drop box in the add cardholder screen. I stand corrected the rate is actually 21.9 not 23.9

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