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Established Contributor
Posts: 507
Registered: ‎02-02-2013
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USAA chances?

What are the chances of getting approved for USAA with my EQ sitting at 580? 

 

Please - do not start talking about secured cards, I have a BofA that just started reporting and Fingerhut that just started reporting as well.

Total CL: $40k+
Discover, BOA, GE, Cap 1, Chase, Barclay!
Gardening Start: 04/22/2013

New Contributor
Posts: 69
Registered: ‎07-26-2012
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Re: USAA chances?

I would say slim to none even if you are a full memeber

Valued Contributor
Posts: 2,671
Registered: ‎06-05-2008
0

Re: USAA chances?


2FixMyCredit wrote:

What are the chances of getting approved for USAA with my EQ sitting at 580? 

 

Please - do not start talking about secured cards, I have a BofA that just started reporting and Fingerhut that just started reporting as well.


Pretty slim, however they do offer secured versions of some cards if you are denied.  You might look into that.  I'm not sure how they report or if they graduate, but the reps are real helpful if you call in.

 

Your best bet, as a member, is to keep an eye on the "My Offers" tab.  They have generic offers and targeted offers, and a genuine targeted offer is pretty much a guaranteed approval.  On the other hand, if you are a memebr and they aren't making offers to you, plan on being declined.

3-26-15: FICO EXP: 828 - EQU:820 - TRAN: 828 - AVG: 825 +275 points from JUN 2008 - MY CREDIT JOURNAL

Valued Member
Posts: 25
Registered: ‎11-27-2012
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Re: USAA chances?

I tried USAA back on oct-12 and got denied with a score EQ 651. Did you tried with GEMB? they approved me the same month.

Valued Contributor
Posts: 1,453
Registered: ‎04-14-2012
0

Re: USAA chances?

580 I do not think you are going to get unsecured. Keep working on it and let the cards you have age a little while and you should get your score up to a point to get approved.

*8/10/13
Established Contributor
Posts: 507
Registered: ‎02-02-2013
0

Re: USAA chances?

Secured cards are NOT an option for me, due to my own personal opinion on them.

 

I just joined so I'm figuring it out, I'm sure it isn't realistic right now just wanted opinions Smiley Happy My offers tab isn't showing anything yet but I literally just joined so who knows.  If not I will gladly wait a while.

 

GEMB has denied me as well. Smiley Wink Go figure!

Total CL: $40k+
Discover, BOA, GE, Cap 1, Chase, Barclay!
Gardening Start: 04/22/2013

Regular Contributor
Posts: 266
Registered: ‎09-05-2012
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Re: USAA chances?


2FixMyCredit wrote:

Secured cards are NOT an option for me, due to my own personal opinion on them.

 

I just joined so I'm figuring it out, I'm sure it isn't realistic right now just wanted opinions Smiley Happy My offers tab isn't showing anything yet but I literally just joined so who knows.  If not I will gladly wait a while.

 

GEMB has denied me as well. Smiley Wink Go figure!


Yeah it's totally unrealistic man. You will be waiting a LONG while before they offer you anything at all (2 years?). I don't know your history though so who knows maybe sooner.  I went from a 560 to a 740 with nothing but 2 secured cards and a couple of small rebuilders. Your opinion about secured cards (in my opinion), is going to hold you back from growing. Look at my signature. That's what I got with rebuilding the secured route after 5 to 6 months.




Established Contributor
Posts: 507
Registered: ‎02-02-2013
0

Re: USAA chances?

I'm sure many many people think secured cards are great but I am not going to give a bank my money, pay interest ony my money to build my credit. 

 

It doesn't matter either way though because I did get approved for a Bank of America card with 0% interest and no annual fee to start out with, plus Fingerhut as well as Aarons reporting soon.  That is installment, revolving and store credit that should boost my score in a while. 

 

Funny thing, I just called USAA to ask about their requirements with no plan on applying yet (maybe in a year or two) but the moron sure enough did, got the notice not 30 minutes after I hung up on her.  Called again and told them to remove it and apparently I have to fill out a ton of forms, have it all notarized, contact the CRA, and mail or fax a copy of my report showing them it actually happened.  After that, I don't think I will be doing business with them for a while, that just rubbed me the wrong way.

Total CL: $40k+
Discover, BOA, GE, Cap 1, Chase, Barclay!
Gardening Start: 04/22/2013

Valued Contributor
Posts: 2,671
Registered: ‎06-05-2008
0

Re: USAA chances?

Johnny_Favorite wrote:  Your opinion about secured cards (in my opinion), is going to hold you back from growing. Look at my signature. That's what I got with rebuilding the secured route after 5 to 6 months.

 

+1...  I'm not sure what your personal objection is to secured cards, but they can be a great tool in the rebuild process.  I'd tell you to app for Orchard if they were still around, but barring that your options are pretty slim unless you want to pay a bunch of ripoff fees.  And those are cards you'll likely close in a year or two when your score is up.

 

I'm curious what your main objection is.  If you're against giving the bank an interest free loan, then paying interest on their loan to you, or concerned about how it will look on your report there is another option.  Some credit unions allow you to invest money into a CD, and then use that as collateral for a credit card.  You get the benefit of the money's growth, and they report it as an unsecured card.

 

Flash forward a year or two later and your deposit will be released, with the gains, and you'll have the benefit of the mature card history.

 

If there is another objection to secured cards, please share.

3-26-15: FICO EXP: 828 - EQU:820 - TRAN: 828 - AVG: 825 +275 points from JUN 2008 - MY CREDIT JOURNAL

Valued Contributor
Posts: 2,671
Registered: ‎06-05-2008
0

Re: USAA chances?


2FixMyCredit wrote:  I am not going to give a bank my money, pay interest ony my money to build my credit. 

Ah, you posted that while I was typing.  The CU option might be a good one for you.  Sorry to hear that USAA did that, they are usually better than that.  You might consider emailing a complaint via the online portal and see what happens.

3-26-15: FICO EXP: 828 - EQU:820 - TRAN: 828 - AVG: 825 +275 points from JUN 2008 - MY CREDIT JOURNAL

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