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USAA SECURED AMERICAN EXPRESS

Established Contributor

Re: USAA SECURED AMERICAN EXPRESS

I can't speak for people that were approved, but I would assume that since it is a credit application, there will be a hard pull.

Message 11 of 22
Moderator

Re: USAA SECURED AMERICAN EXPRESS

I'm not absolutely certain; however, USAA told me they were going to do a credit inquiry to open a secured CD loan with them (loan secured with a CD as collateral, the same way USAA does for their secured credt cards), and while I haven't checked my real Exquifax report this year to see, I have to assume they did as they disclosed.  I don't see why it'd be any different with a secured credit card.

Starting Score: EQ 5 561, TU 98 567, EX 2 599 (12/30/11)
Current Score: EQ 5 771, TU 4 758, EX 2 758, EQ 8 795, TU 8 762, EX 8 786 (7/28/17)
Goal Score:    EQ 5 750, TU 4 750, EX 2 750, EQ 8 800, TU 8 Blah, EX 8 800 (01/01/18)


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Message 12 of 22
New Contributor

Re: USAA SECURED AMERICAN EXPRESS

It's a hard pull. For sure. 

Message 13 of 22
New Contributor

Re: USAA SECURED AMERICAN EXPRESS

I opened mine back in July 2011 with a $500 deposit... it was  hard pull and took about 3 weeks to get the card.

 

I added another $500 to the CD when I got my tax refund in February of this year.

 

The CD is locked in for 2 yrs but you can add to it whenever you want in increments of $50.

 

Having, and using it, helped my scores to go up about 50-75 pts in the time I had it (only other open TL was $300 WFNNB/Lane Bryant which CLI at the same time I added to AMEX).


Starting Score: 03/31/2012 - FICO EX 599 (auto loan pull) EQ 593 TU 602)
Current Score: 10/25/2012 - EX (tenant screening) 655 - EQ (myfico.com) 641 - TU (myfico.com) 622
Goal Score: We’ll start with 650 across the board 


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Message 14 of 22
Member

Re: USAA SECURED AMERICAN EXPRESS

Thank you all for the feedback. Can anyone speak to what their scores were/ if they had any charge offs when approved for the secured card? 

Message 15 of 22
Regular Contributor

Re: USAA SECURED AMERICAN EXPRESS

I have the AMEX secured card from USAA. It was a hard pull to open the CD and get the card. So far everything has been good, after the two years USAA will re-evaluate you and if they will give you a non-secured card they will give you what you put into the CD plus interest that you earned. I like it because it is basically forcing me to save money since I really cant touch money I put into the CD



Starting Score: 502 5/4/2012
Current Score: 640 08/03/2012
Goal Score: 700


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Message 16 of 22
Moderator

Re: USAA SECURED AMERICAN EXPRESS


Steelersfan904 wrote:

I have the AMEX secured card from USAA. It was a hard pull to open the CD and get the card. So far everything has been good, after the two years USAA will re-evaluate you and if they will give you a non-secured card they will give you what you put into the CD plus interest that you earned. I like it because it is basically forcing me to save money since I really cant touch money I put into the CD


Are you sure it was a HP to open the CD?  I haven't looked at my full EQ report since December (which was before I opened the CD and secured loan against it), but they never asked disclosed the inquiry on the CD, and it would be awfully wierd to do a HP on any depository account... other than the specialness of member-owned institutions like CU's.

 

Starting Score: EQ 5 561, TU 98 567, EX 2 599 (12/30/11)
Current Score: EQ 5 771, TU 4 758, EX 2 758, EQ 8 795, TU 8 762, EX 8 786 (7/28/17)
Goal Score:    EQ 5 750, TU 4 750, EX 2 750, EQ 8 800, TU 8 Blah, EX 8 800 (01/01/18)


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Message 17 of 22
Valued Contributor

Re: USAA SECURED AMERICAN EXPRESS


hm22 wrote:

Thank you all for the feedback. Can anyone speak to what their scores were/ if they had any charge offs when approved for the secured card? 


We didn't have any FICO® scores at all and we were approved.



Husband's Current Score: EX 691 CUSC; EQ 694; TU 687; Mine: EX 773 (AMEX); EQ 720; TU 750
Wallet Contents: SECURED: Capital One Platinum Mastercard, US Bank Harley Davidson Visa, USAA Bank American Express;
UNSECURED: Chase Freedom; USAA Cash Rewards World Mastercard, Discover More, CUSC Platinum Rewards Visa, American Express Zinc, American Express Blue Cash Preferred, Amazon Card, Walmart Discover Card
Message 18 of 22
Frequent Contributor

Re: USAA SECURED AMERICAN EXPRESS

I have a few CO accounts and I was approved for an unsecured (Classic) USAA AmEx, 607EQ with $1K CL.

2011: EQ 580~
2012: EQ 620~
2013: EQ 641, TU98 645, TU04 635, TU08 635, EX 648 (lender)
Closed on first home 4/25/13.
Message 19 of 22
Moderator

Re: USAA SECURED AMERICAN EXPRESS


Adalen wrote:

I have a few CO accounts and I was approved for an unsecured (Classic) USAA AmEx, 607EQ with $1K CL.


I forgot to ask you this on a different thread, but did you have any pre-approval offers from USAA besides the usual run-of-the-mill ones they post?  

 

I know the Classic is an offer they counter with, I'm expecting to get that if I get approved for anything when I make my little app spree in December.

 

Starting Score: EQ 5 561, TU 98 567, EX 2 599 (12/30/11)
Current Score: EQ 5 771, TU 4 758, EX 2 758, EQ 8 795, TU 8 762, EX 8 786 (7/28/17)
Goal Score:    EQ 5 750, TU 4 750, EX 2 750, EQ 8 800, TU 8 Blah, EX 8 800 (01/01/18)


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Message 20 of 22