10-18-2013 12:46 PM
Been a USAA Member for over 20 Years (Home & Auto). I'm looking to start Banking with USAA (cutting ties with WF), but also a PenFed Member. I'm leaning towards USAA.
Can I get some Pros & Cons from the Community.
10-19-2013 05:50 AM - edited 10-19-2013 05:51 AM
Pros and cons will always be a bit subjective and the two aren't mutually exclusive. I'm a member of both and find both to be beneficial. The details for their products are available on their website for you to compare. I only have PenFed's Platinum Cash Rewards card and a MMA savings account. Their cards probably aren't as great for new applicants though since they've changed their rewards structures on their cards. However, they still seem to offer better rewards on their cards than USAA. I do still have my USAA cards since they're some of my oldest cards. They just don't get used much these days.
That said, USAA was very beneficial to me when rebuilding credit. They offered me the best CL's and APR's at the time. They haven't been as useful to me now that I have rebuilt but I do use their banking products (checking & savings). They have a lot of handy tools. Their IOS app is very useful. Can't say that about PenFed's app. USAA's check deposit by phone is something I find useful and, again, missing from PenFed.
10-19-2013 08:36 AM
Outstanding bank with excellent customer service! I have been with USAA for many years and will stay until i don't need banking services anymore. All pros no cons IMO! They take care of current and former military people so try them out and you will find out what i am talking about.
10-19-2013 12:32 PM
Thanks everyone for the feedback...Opened Checking/Savings with USAA.
11-15-2013 10:45 AM
PenFed customer service isn't that good. Often times the reps are uninformed.
I hear they have one of the lowest rates on loans though (I've never gotten a loan from them but have two CCs with them).
11-29-2013 11:02 AM
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