Another member had posted his USAA rate as 7.75, saying they had originally gotten 6%, but it had been raised to 7.75% somewhat recently. I app'ed and received USAA AMEX and MC in the past couple months and was dissappointed that I had not gotten the best rate. I got 8.9% on both.
However, I just noticed on USAA website that they have raised their rates so it now is "AS LOW AS 8.9%." So, I guess I got the best rate, it had just gone up about the time I had applied. (Here is a link to their CC's https://www.usaa.com/inet/ent_utils/McStaticPages?key=banking_credit_cards_main&offerName=pubProdSvc... )
MY QUESTION: Are they raising rates because the market will bear it, or because they are covering defaults on CC accounts meaning the rates are a reflection of the current economic trends including higher defaults on CC's?
Message Edited by txjohn on 10-05-2009 11:26 AM
