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Established Contributor
logan_720
Posts: 608
Registered: ‎02-02-2012
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Re: USAA SECURED AMERICAN EXPRESS

[ Edited ]

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.

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Revelate
Posts: 9,765
Registered: ‎12-30-2011
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Re: USAA SECURED AMERICAN EXPRESS

[ Edited ]

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 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 673, EQ 8 707, TU 720, EX 702* (09/02/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)


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New Contributor
Twizzle
Posts: 73
Registered: ‎09-12-2011
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Re: USAA SECURED AMERICAN EXPRESS

It's a hard pull. For sure. 

New Contributor
amkari
Posts: 60
Registered: ‎03-14-2012
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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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hm22
Posts: 6
Registered: ‎05-06-2012
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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? 

Regular Contributor
Steelersfan904
Posts: 150
Registered: ‎05-04-2012
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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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Revelate
Posts: 9,765
Registered: ‎12-30-2011
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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 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 673, EQ 8 707, TU 720, EX 702* (09/02/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)


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Valued Contributor
discernment
Posts: 1,142
Registered: ‎09-01-2011
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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
Frequent Contributor
Adalen
Posts: 353
Registered: ‎05-01-2007
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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.
Moderator
Revelate
Posts: 9,765
Registered: ‎12-30-2011
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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 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 673, EQ 8 707, TU 720, EX 702* (09/02/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)


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