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USAA

Frequent Contributor

USAA

Was denied a CC with USAA. I am a full member (member since 1998) served in the Army for 10yrs. My husband is currently in the military. However, was offered a secured Mastercard/Visa. Is it worth it to get the secured or should I open a NFCU acct and in 3-6months apply for a card with NFCU? (will be paying off all credit cards totaling $1400 at the end of this month)

 

FAKO EQ 596, EX 596, TU 652

Starting Score: FAKO: TU 602 EQ 550 EX 565 - 08|2012
Current Score: MyFICO: TU 633 EQ 637 EX 669 (AMEX PULL)09|2012
Goal Score: 700 across the board In my wallet: NFCU cashRewards 12000CL, NFCU LOC 10K CL, BofA cashRewards 5000CL, BofA PP 3000CL, JAREDS (AU) 1500CL, SEARS (AU) 7000CL
Under my mattress: Orchard Bank 320CL and Saks Fifth Avenue 100CL. Finally in the Garden. App Free Since 9/18/12 - No apps until March 2013
14 REPLIES
Valued Contributor

Re: USAA

You should get the secured card.  Your scores are too low for a good card from any bank, including NFCU.  Build positive history with your USAA secured and you will have good chance to be approved for great credit.  I started my rebuilding with a $1k USAA secured card.

 

EDIT:  find out what your FICO scores are.

EX:694 TU:744 EQ:777
Amex ED $19.5k - BoA Travel Rewards $15k - CSP $5k - SDFCU EMV $15k - NFCU goRewards $20k - Barclays Arrival $6.5k
Frequent Contributor

Re: USAA

I just recently (2.5 weeks ago) was approved for a BoA Platnuim CC CLI 3K. Thats why I asked if I should wait 3-6months from now to reapply.

 

MyFico only provides close EQ scores or is it TU and EQ?

 

Thanks for the advice

Starting Score: FAKO: TU 602 EQ 550 EX 565 - 08|2012
Current Score: MyFICO: TU 633 EQ 637 EX 669 (AMEX PULL)09|2012
Goal Score: 700 across the board In my wallet: NFCU cashRewards 12000CL, NFCU LOC 10K CL, BofA cashRewards 5000CL, BofA PP 3000CL, JAREDS (AU) 1500CL, SEARS (AU) 7000CL
Under my mattress: Orchard Bank 320CL and Saks Fifth Avenue 100CL. Finally in the Garden. App Free Since 9/18/12 - No apps until March 2013
Valued Contributor

Re: USAA


AvaMommy wrote:

Was denied a CC with USAA. I am a full member (member since 1998) served in the Army for 10yrs. My husband is currently in the military. However, was offered a secured Mastercard/Visa. Is it worth it to get the secured or should I open a NFCU acct and in 3-6months apply for a card with NFCU? (will be paying off all credit cards totaling $1400 at the end of this month)

 

FAKO EQ 596, EX 596, TU 652


Both you and your husband should join NFCU now while you are still eligible.  NFCU is by far the most generous financial institution with those rebuilding credit.

 

2nd, STOP APPING.  Other poster was right, you are unlikely to get any approvals from decent cards with those scores.  You are just harming your scores from the inquiries.

 

Once your credit cards are paid off, wait for them to report and pull your credit score from here.  Buy the EQ FICO score (not the TU score).  Then come back and give us your score and details on your credit file (AAoA, what cards/limits/balances, any bads,etc.).  We will be able to give you some great advice to get better cards and improve that credit over the long term.

               LIMITS IN CARD DESCRIPTIONS
Frequent Contributor

Re: USAA

Crashem Thanks! We will join this weekend! I heard NFCU was very generous. We were going to get their shared secured personal loan to help with our crediit scores!

I come back and rely the info. Since we are paying them down at the end of the month (Aug 30th)  do most CC companies update the balance to the CRAs if you ask?

Starting Score: FAKO: TU 602 EQ 550 EX 565 - 08|2012
Current Score: MyFICO: TU 633 EQ 637 EX 669 (AMEX PULL)09|2012
Goal Score: 700 across the board In my wallet: NFCU cashRewards 12000CL, NFCU LOC 10K CL, BofA cashRewards 5000CL, BofA PP 3000CL, JAREDS (AU) 1500CL, SEARS (AU) 7000CL
Under my mattress: Orchard Bank 320CL and Saks Fifth Avenue 100CL. Finally in the Garden. App Free Since 9/18/12 - No apps until March 2013
Valued Contributor

Re: USAA


AvaMommy wrote:

Crashem Thanks! We will join this weekend! I heard NFCU was very generous. We were going to get their shared secured personal loan to help with our crediit scores!

I come back and rely the info. Since we are paying them down at the end of the month (Aug 30th)  do most CC companies update the balance to the CRAs if you ask?


Its really a case by case basis.  Expect them to report within a few days of when the statement is generated.  So you might want to pay off the cards whose statement is being generated sooner.  Call the rest of them and ask.  Tell them you are looking at home/auto/whatever loan and you need them to do a "MID CYCLE" reporting.

 

As for NFCU, I would consider having both you and your husband open separate accounts but up to you.  Separate accounts means double the cards as both you and husband can get one.  Also, any idea what his credit is like?  You could apply jointly if his is good.

 

BTW, USAA isn't too hard to get approval.  No idea what your util is like, but if it is significant, you might get enough of FICO score bump to qualify for their cards.

               LIMITS IN CARD DESCRIPTIONS
Frequent Contributor

Re: USAA

Thats exactly what I was planning on doing, we both seperatley apply and join (more bang for the buck)!! All our of our CCs are 1 opens and then adds the other as AU. His credit is slightly worse than mine.

 

My cards are at a high UTLI, I make great money annual 105K. For example, Orchard/Cap1: $300/$320 CLI, Jareds:$809/$1500CLI, BoA 0/$3K CLI, SAKS $0/$1500CLI  (all the list accounts will be paid off by the end of this month)

 

4 Install Loans: 2 car/ 2 student loans (totaling $5K will have 1 paid off by mid nexy month)

 

Baddies: 1 CO Orchard bank/HSBC (GW letter stated they will refund the fees since the acct was under the SCRA but cant delete...although CAP1 has deleted the 2 neg TLs. Will go back and send another GW stating Cap1 who owns HSBC now deleted their neg TLs why cant they), Default student loan which I am waiting to have reported positively...was in default but rehab the loan which is the 2 student loans reference above. Rep stated it should take 30 dyas for the CRAs to update the default of the Student loans to report "Pays, as agreed". 4 COs that I am disputing and 1 acct that is NOT MINE but the CA is reporting on it too. Waiting for my Citicard to delete which I have documents for the Exec office stating they will and lastly a PIF CO from Citifinancial that I have GW'd and waiting on them to reply back.

Starting Score: FAKO: TU 602 EQ 550 EX 565 - 08|2012
Current Score: MyFICO: TU 633 EQ 637 EX 669 (AMEX PULL)09|2012
Goal Score: 700 across the board In my wallet: NFCU cashRewards 12000CL, NFCU LOC 10K CL, BofA cashRewards 5000CL, BofA PP 3000CL, JAREDS (AU) 1500CL, SEARS (AU) 7000CL
Under my mattress: Orchard Bank 320CL and Saks Fifth Avenue 100CL. Finally in the Garden. App Free Since 9/18/12 - No apps until March 2013
Valued Contributor

Re: USAA

I just noticed this, I have both USAA and NFCU, agree you should join NFCU.  Apply for a credit caard, they might suyrprise you but if they won't give you an unsecured card, do a double or triple play - put some money on a secured personal loan.  Then deposit the loan proceeds to secure one or two credit cards (one for each?).

 

Then be patient and don''t use the credit.  My secured card graduated a year later with a CLI...

BK7 Filed 8/11/2009 Discharged 11/23/2009. Purchased new home 4/11/2012
Starting Score:11/16/2009 EQ 566 11/16/2009 TU 538
Interim Score: 12/27/2012 EQ 683 09/17/2012 EX (lender) 670 1/01/2013 TU 701
Current Score: 11/06/2013 EQ 708 11/06/2013 EX 702 11/16/2013 702 11/06/2013 TU 729
Goal Score: EQ 740 EX 740 TU 740
Take the FICO Fitness Challenge
Established Contributor

Re: USAA


Crashem wrote:

AvaMommy wrote:

Crashem Thanks! We will join this weekend! I heard NFCU was very generous. We were going to get their shared secured personal loan to help with our crediit scores!

I come back and rely the info. Since we are paying them down at the end of the month (Aug 30th)  do most CC companies update the balance to the CRAs if you ask?


Its really a case by case basis.  Expect them to report within a few days of when the statement is generated.  So you might want to pay off the cards whose statement is being generated sooner.  Call the rest of them and ask.  Tell them you are looking at home/auto/whatever loan and you need them to do a "MID CYCLE" reporting.

 

As for NFCU, I would consider having both you and your husband open separate accounts but up to you.  Separate accounts means double the cards as both you and husband can get one.  Also, any idea what his credit is like?  You could apply jointly if his is good.

 

BTW, USAA isn't too hard to get approval.  No idea what your util is like, but if it is significant, you might get enough of FICO score bump to qualify for their cards.


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TU FICO: 772 (Discover) • Exp FICO: 772 (Citi)

Amex BCE $13K | Amex Costco TE $10.4K | Amex SPG $5K | Chase Freedom Visa Signature $15K | Chase Sapphire Preferred Visa Signature $15K | Chase Ink Plus World Elite MC $5K | Citi TY Preferred World MC $10.1K | Citi Forward $10K | Citi Diamond Pref $7.6K | Discover IT $9.9K | JP Morgan Chase Select Visa Signature $9.2K | NFCU CashRew Visa Sig $25K | NFCU LOC $15K | NFL Visa Signature (Saints) $8.1K | USAA Amex $11.3K | USAA World MC $11.5K
Super Contributor

Re: USAA


searchingfor67 wrote:

Crashem wrote:

AvaMommy wrote:

Crashem Thanks! We will join this weekend! I heard NFCU was very generous. We were going to get their shared secured personal loan to help with our crediit scores!

I come back and rely the info. Since we are paying them down at the end of the month (Aug 30th)  do most CC companies update the balance to the CRAs if you ask?


Its really a case by case basis.  Expect them to report within a few days of when the statement is generated.  So you might want to pay off the cards whose statement is being generated sooner.  Call the rest of them and ask.  Tell them you are looking at home/auto/whatever loan and you need them to do a "MID CYCLE" reporting.

 

As for NFCU, I would consider having both you and your husband open separate accounts but up to you.  Separate accounts means double the cards as both you and husband can get one.  Also, any idea what his credit is like?  You could apply jointly if his is good.

 

BTW, USAA isn't too hard to get approval.  No idea what your util is like, but if it is significant, you might get enough of FICO score bump to qualify for their cards.


+1


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