USAA curiosity

[boireann]

Got a USAA World card offer in the mail today.  It's been so long since I opted out that I'd forgotten that companies still send these things out.  Currently I only have a checking, savings and IRA with USAA.

I have just two CC's.  Both for $5000, with $0 balance and always PIF .  One from a local CU, and another from BECU.  Both Visas.  Both are only a 18 months old.  I have no debt, income at $55k.  No bad marks on my reports and 4 paid off loans, and a mortgage in good standing on my reports.

Anyway, when they send these things out, do they actually have a minimum requirement to trigger them sending an offer?  Score and income etc?  Is there a typical $$ starting offer with these guys?  What about automatic CLI?  I

I had been planning on applying to PenFed for a 3rd and final credit card at the two year point, but I haven't been all that impressed with the changes to their products in the past year.  Is USAA still one of the top CC company choices around here?

It's not one of those preapproved for $XXXX offers, just a pull the trigger and see what happens offer.  It would really annoy me to waste a hard pull just to be declined for "too much available credit to income ratio" sort of thing.  Or qualify for a less than $5k card.

So....please share your opinions and experiences with USAA.  Especially those that have applied to them since the credit mess happened.

Thanks!

[Anonymous]

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@boireann wrote:

Got a USAA World card offer in the mail today.  It's been so long since I opted out that I'd forgotten that companies still send these things out.  Currently I only have a checking, savings and IRA with USAA.

I have just two CC's.  Both for $5000, with $0 balance and always PIF .  One from a local CU, and another from BECU.  Both Visas.  Both are only a 18 months old.  I have no debt, income at $55k.  No bad marks on my reports and 4 paid off loans, and a mortgage in good standing on my reports.

Anyway, when they send these things out, do they actually have a minimum requirement to trigger them sending an offer?  Score and income etc?  Is there a typical $$ starting offer with these guys?  What about automatic CLI?  I

I had been planning on applying to PenFed for a 3rd and final credit card at the two year point, but I haven't been all that impressed with the changes to their products in the past year.  Is USAA still one of the top CC company choices around here?

It's not one of those preapproved for $XXXX offers, just a pull the trigger and see what happens offer.  It would really annoy me to waste a hard pull just to be declined for "too much available credit to income ratio" sort of thing.  Or qualify for a less than $5k card.

So....please share your opinions and experiences with USAA.  Especially those that have applied to them since the credit mess happened.

Thanks!

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You might want to check your USAA online account and click on the tab on the top right that says "My Offers" to see if it is a real pre-approval. 

In my experience when USAA says you are pre-approved that means you will not waste a hard pull barring some real screw up between now and the time they softed you for the pre-approval. 

Also, I have found USAA is a bit slower with automatic CLIs than I have found, say, Chase to be, but YMMV.  If you have a need for a higher limit, I have found a phone request to be painless if not downright pleasant.  I have read about a great variance in starting CLs.  It seems that if you are a full member with a long history, they are exceptionally generous.  The minimum CL with their World MC is $5000 so don't expect lower than that.  Also, in my experience, it seems USAA will give you a CL higher than your other bank cards.  So if you have $5k on all your others, probably USAA would give you something like $10k 

For me, USAA is #1.  YMMV

[boireann]

Been awhile since I looked in the "my offers" tab since I haven't been in the market for anything lately.  Guess I should have looked first.  My first thought on seeing this is that it's just a "hey, give it a try and see what happens" not an actuall preapproval.  That's how I've taken this sort of offer from them in the past.  I think I've become too jaded.

This is what I see in the online "my offers"

You're invited to apply for a USAA Rewards™ World MasterCard®

Enjoy a low APR on purchases and cash advances — plus 2,500 bonus points after your first purchase.1 

 Hurry — this offer expires May 31, 2010.

[smallfry]

Slower than Chase with automatic CLI?

[Anonymous]

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@boireann wrote:

Been awhile since I looked in the "my offers" tab since I haven't been in the market for anything lately.  Guess I should have looked first.  My first thought on seeing this is that it's just a "hey, give it a try and see what happens" not an actuall preapproval.  That's how I've taken this sort of offer from them in the past.  I think I've become too jaded.

This is what I see in the online "my offers"

You're invited to apply for a USAA Rewards™ World MasterCard®

Enjoy a low APR on purchases and cash advances — plus 2,500 bonus points after your first purchase.1 

 Hurry — this offer expires May 31, 2010.

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I'm not sure that really sounds like "pre-approval," but who knows?

I never used to use USAA for anything but insurance and would almost never log in to my USAA account.  One day I get an e-mail and / or a letter saying my pre-approved AmEx offer would expire soon so I should take advantage of it now.  I logged on and saw it clearly state I was pre-approved in the "My Offers" section so I clicked on accept and ... Bingo!  Instant $25k -- I almost SAB.

[Anonymous]

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@smallfry wrote:

Slower than Chase with automatic CLI?

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What can I say?  Chase has been good to me.  With USAA the only CLI I have seen was when I called them ... and they were very nice about it.

[boireann]

The wording doesn't say anything about being preapproved for anything.  I'm going to say that it's just the usual, "Hey, take a gamble and pull the trigger to see if you get anything and you may or may not be declined" offer. 

[Anonymous]

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@boireann wrote:

The wording doesn't say anything about being preapproved for anything.  I'm going to say that it's just the usual, "Hey, take a gamble and pull the trigger to see if you get anything and you may or may not be declined" offer. 

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Hmmm ... as much as I like USAA, I'd have to think about it if it were a gamble.

[haulingthescoreup]

Why not call them and ask?

[boireann]

I sent them an email.  It was a generic reply that didn't say much of anything other than I can apply for a card.    Made me laugh to get the response.  I don't think I'm going to apply for it.  I'm still in gardening mode until the other two cards turn two years old.  At that point I'll revisit USAA, Navy and PenFed CC programs again.

I'm not a full member because my father, for some reason he won't share with me, refuses to use their insurance products even though they've been his bank as long as I can remember.  Stubborn man. I would LOVE to have my car and homeowners insurance through them!  My guess is that preapprovals only go to full members.

I am curious what their criteria is for the card though?  Minimum score specifically.  And who do they pull?

Has anyone applied for their card(s) since the credit reform changes in February?