Rebuilding Your Credit

[NikJ4]

Just thought I would share this little bit of info: I read a post from someone over the weekend about USAA starting to have a secured card. Well, I emailed them since I am a member to find out more about it. Come to find out that they are not posting it online but they do have a pilot program they are testing at this time. Secured Credit card is avail. but you have to email them. Also, you have to be a member of USAA.

I am copying the info I was sent into this message....

Dear Mrs. Exxxx,

At this time you may have a minimum deposit of $250. After 12 months we will review the account to determine if it can be transferred to a non-Secured Credit Card.

Thank you,
USAA

Dear Mrs. Exxxx,

Thank you for your online message regarding secured cards. At this time the Secure Card is being offered as a pilot. We will however, send you an application. We ask you allow 5-7 business days for delivery of the application.

We value your business and the opportunity to serve all your financial needs.

Thank you,
USAA

I am not sure how they will evaluate or if they will look at credit. I will keep you up to date as I learn more.

Nik J

Message Edited by llecs on 01-26-2010 06:48 PM

[newstart2010]

WONDERFUL!!!  That is great to know that they are beginning to offer it now!  Can you PM me with the email address you used?  I am also going to try through my USAA rep and see if he has more info on it.

[socialbutterflyin]

I emailed them also to see if i could qualify for a secured card. Citi turned me do to chexsystems and BOA turned me down because of my credit report

Message Edited by socialbutterflyin on 01-20-2010 08:53 AM

[NikJ4]

I went to the USAA site and sent used the message tab at the top and requested a Secured Credit Card application. There is no info on the site and if you call they do not have a lot of info. It goes to a special dept that is handling this since it is a Pilot Program. They will not pull credit since the funds will be placed in a CD but after a yr will review to see if eligible to switch over to a Unsecured Card.

[newstart2010]

This is awesome!!!  I sent a message to them shortly after seeing your post today.  How soon did you get a response? 

[NikJ4]

Socialbutterflyin,Are you a member of USAA? You would need to be a member.

[NikJ4]

NS2010,

I got a reply to my message in less than 24 hrs to be honest. You will be fine. Just PM me if you need anything else.

Nik J

[joeydtx]

Just a quick question, do you need to have military credentials or is it available for the civilian members side as well?

[newstart2010]

USAA is available to all military personel, past and present, who have had an honorable service record, and all spouses, ex-spouses, children of past and present members.

[joeydtx]

They do have banking services and a few other services available to the general/civilian public like myself, I have a checking/savings currently and planning to open a CD as soon as I can get all my cash away from BoA.