USAA ...DECLINED???

[Anonymous]

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@kay82 wrote:
Well I got the urge to apply for a USAA MC and you guessed it a big fat DECLINED.. I did it via phone app with a rep, and specifically asked her what were the minimum scores needed she told me 560 + so I got extremely happy having just pulled My Fico  EQ and it was  630 then I get declined what the H ***.....Im upset about the misleading qualifying scores and more so that I wasted an inquiry..this ever happened to anyone else??

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I guess it is all in which CSR you speak with. When I first opened my account in January, the CSR told me not to even try to apply for credit products until my scores hit 720, to be sure I would be approved. Someone telling you a 560 is insane. (maybe if that person has been a member forever and has quite a bit on deposit...)

I had to recon my MC with a clean EQ report and 680 FICO.

Once my EQ hit 738, I did get an instant approval (10k) for the Amex.

DH has a 651 EQ and all of his baddies will fall off in 5 months and he still can't get a card from them.

[jaxstraw]

From posts that I've read here and on other sites USAA is not an easy card to get. The threshold has always been about 700's for approval.

720 is the score usally mentioned as the minimum before applying.

If you read other posts they also mention how the CSR are farmed out now to outside agancies. They do not work for the lender directly.

Hopefully I'm not offending anyone but all this has been posted here and can be researched before applying. This site is great for that. Do not go on the word of a CSR alone, check here and at other 'credit pull' sites before applying, the info shared can save a lot of denied apps.

[cabarkeep]

good point jax ... if you do a little research USAA Fed savings bank is pretty highly rated and their financials have always been up there at the top .....

I do not want to offend anyone but you could not really expect USAA to be loaning money or giving credit cards to people with challenged credit when they do not have to or do not model their company to take on that risk.

It is like expecting a 0% for 72 month auto loan with a 500 fico score ...it just won't happen ...I would expect that USAA is almost as tight as Penfed for a credit card...(not quite as I have a 25k Usaa card but Declined with Penfed lol for Household income of all things lol another rant ...) but no doubt both companies are very good at what they do ... they just at this time do not appear to be catering any products to challenged credit click away and save those inquiries where it might do some good to re-establish your credit.

This board is fantastic for that type of information ..too bad the CSR told you only half of their requirements .. you might ask for a supv and explain the situation maybe they will delete the inquiry?  Its worth a shot!

[kay82]

I did do some research there are tons and tons of threads about USAA on the site apparently I didnt research far enough beccause I never got to the part about needing a 700 credit score and I read a whole bunch of these threads I even checked WGMC and saw quite a few approvals for people on my side of the country nevertheless, I dont expect a MAJOR bank like that to loan credit to someone with damaged credit ( as you say ) however If you would have read the previous post I did speak to a supervisor regarding the incompetence and misleading information given by the CSR. I EXPECT their employees not to give out misleading information..they're supposed to be this great banking institution etc. yet the employees tell the customers they only need a 560 Big Contradiction..... This HUGE bank cant afford to get their employees some REMEDIAL training so as not to misguide, mislead or waste peoples time...hmmm I think I ll go with NFCU!!!

[cabarkeep]

Kay, i did not mean to offend .. I was just making a point ... and before you go off clicking on NFCU you better call and ask them the same questions ...I would think that they are pretty strict also .... I do not know what your credit looks like and am not judging you ... I would just be careful on who you apply with so that you are not wasting inq's thats all.

good luck

[kay82]

No no offense taken whatsoever    you're absolutely right and I appreciate the advice, I actually got a call back from the supervisor today saying that they valued me as a  customer and will do a recon on my app,.. but I passed, after that experience I dont want any part of them other then the accounts I already hold.....but yes Im doing lots of research on NFCU it may take me a few months but this time I will read ALL of the posts lol but they are definitely on my goal list for 09, so is there a better database than WGMC to check because they're info was a little outdated?