USAA MasterCard 14K Approval, but.......

[Anonymous]

OK so I have heard a lot of really good things about USAA so I decided to join and apply for their Platinum Mastercard. So I applied and was approved for an initial CL of 14.7K. Needless to say my jaw dropped when the rep told me the CL. I recently joined PenFed aswell and they only offered my a CL of 5K (I guess they decided to match another line I had). But then after creating my online access and viewing the account set up, I attempted to log on again this morning and I got the following message:

"For security reasons, your access to usaa.com is currently restricted. Call 1-800-759-8722 for assistance. (2:71)"

Called them up and it turns out they want me to verify my identity and income (thought it was weird to receive such a high CL when the rep did not even ask me anything about income). I have since faxed over all the requested documents and have been informed the verification process takes roughly 3-5 business days, however I have been reading horror stories online about the "blackhole" at USAA's underwriting and fraud departments. I didn't expect this and have never had it happen to me before. I am 100 percent positive I passed the verification questions. It would suck if they reduced my limit or outright closed my account. Has anyone had a similar experience with USAA? I would love to hear about it.

[mgeorges]

Sounds like Amex 

[Anonymous]

Nope, I inquired about the Amex during the application process. According to the CSR, only the applications for the Platinum MC and their VISA card popped up on her screen. Also could not get a link to the Amex application page when I logged in for the first time. Also forgot to mention my EQ FICO (purchased right here) was 775-785 at the time of the app. It was 785 when I app'ed for PenFed last week, don't know how much the PenFed INQ cost me. Should probably also mention that I don't qualify for full membership

[haulingthescoreup]

I think the PP was referring to an American Express financial review. USAA offers a card that is processed through the AmEx network, but they are unrelated to the financial review process, because they're USAA, not American Express.

Anyway, it sounds more like they found some undotted i's and uncrossed t's.

[Anonymous]

That sounds ominous. I can't imagine what would could have triggered this. I only recently became a member, maybe I app'ed too soon for the cc? I saved myself for them, I let a couple of INQ's fall off and didn't app anywhere for 11 months. 

[ChesterPDexter]

I always get nervous until I have the actual card in my hand and activate it.  Until I use it and pay the bill, really!

This is intriguing; let us know what happens.

[Anonymous]

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@Anonymous wrote:

OK so I have heard a lot of really good things about USAA so I decided to join and apply for their Platinum Mastercard. So I applied and was approved for an initial CL of 14.7K. Needless to say my jaw dropped when the rep told me the CL. I recently joined PenFed aswell and they only offered my a CL of 5K (I guess they decided to match another line I had). But then after creating my online access and viewing the account set up, I attempted to log on again this morning and I got the following message:

"For security reasons, your access to usaa.com is currently restricted. Call 1-800-759-8722 for assistance. (2:71)"

Called them up and it turns out they want me to verify my identity and income (thought it was weird to receive such a high CL when the rep did not even ask me anything about income). I have since faxed over all the requested documents and have been informed the verification process takes roughly 3-5 business days, however I have been reading horror stories online about the "blackhole" at USAA's underwriting and fraud departments. I didn't expect this and have never had it happen to me before. I am 100 percent positive I passed the verification questions. It would suck if they reduced my limit or outright closed my account. Has anyone had a similar experience with USAA? I would love to hear about it.

---

You should be ok. 

I've seen that happen to several people and once they verify your documents they should lift the restrictions.

[Anonymous]

Thanks for all the replies. Things look like they are moving forward positively. They have since verified my identity and I am now waiting on my HR dept to fax income verification to their underwriters. Spoke to a rep on Friday and she said that everything should be in order by Monday (tomorrow), so we'll just have to wait and see. I sure hope they don't reduce my very generous limit!