Re: USAA credit cards

Ron1 · ‎05-23-2009

congrats!!!! The purchase APR is a pretty high. I don't know if you can get them to lower your APR when you get the card.

Ron.

moonman · ‎05-01-2007

Ron1 wrote:
congrats!!!! The purchase APR is a pretty high. I don't know if you can get them to lower your APR when you get the card.

Ron.

Thnx Ron......Actually after reading this thread and the info you provided I was kind of prepared for it.

Misshopeful72 · ‎03-05-2012

So do I need to know someone in the military to be able to get the secured card? Can someone help me with that?

EQ 480 02/27/12- EQ 617 05/02/12
TU 500 02/27/12 TU 585 05/01/12
All scores are myfico

LS2982 · ‎04-09-2011

Not sure about the secured card, have you tried speaking to a CSR?

Silver Spade Garden Club Member - Last App 1/6/13 - No Apps until 1/7/2015 / Diamond Inspired!
Starting Score: EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 689 / EQ FICO 659 / TU08 FICO 702 / TU98 FICO 672 / TU VS 711 5/19/2013

Misshopeful72 · ‎03-05-2012

yea in order for me to apply for the secured card i need to know someone in the military. I dont think I could get approved for any other card with them right now.

EQ 480 02/27/12- EQ 617 05/02/12
TU 500 02/27/12 TU 585 05/01/12
All scores are myfico

Misshopeful72 · ‎03-05-2012

My dad who was in the military became a member so now I can apply! Here's to rebuilding!

EQ 480 02/27/12- EQ 617 05/02/12
TU 500 02/27/12 TU 585 05/01/12
All scores are myfico

SavvyInvestor · ‎04-27-2012

If your father is a USAA member, and they know this when you get your membership, then you're a full USAA member.

You should be able to use all of their services. You're probably wanting to get a secured credit card with them anyway, but if a LoC benefits you, they have a good one. I think it would probably even be better than a second secured card. (since the util rate on LoCs have a much lower impact on your score apparently.)

FWIW, they don't list it on thier website, but when I asked they said they could give me a line of credit secured by a CD. It sounds like it is a standard deal (just not a common product)...

Revelate · ‎12-30-2011

SavvyInvestor wrote:
If your father is a USAA member, and they know this when you get your membership, then you're a full USAA member.

You should be able to use all of their services. You're probably wanting to get a secured credit card with them anyway, but if a LoC benefits you, they have a good one. I think it would probably even be better than a second secured card. (since the util rate on LoCs have a much lower impact on your score apparently.)

FWIW, they don't list it on thier website, but when I asked they said they could give me a line of credit secured by a CD. It sounds like it is a standard deal (just not a common product)...

AFAIK LoC's count the same as any other revolving tradeline unless you get up to the 25-35K range where the model tends to rate it as an installment loan instead which doesn't impact the utilization amount as much. LoC vs. credit card is probably immaterial to any mix of credit analysis. They also don't post it on their website but you can get a secured CD loan from USAA (secured installment loan) which is in most (all even?) FICO ways better than a LoC if you have 2-3 CC's open already and especially if limited installment loan history.

As an added bonus you get your original deposit back (100% LTV) and you can go open up some other secured account type as well; however, the minimum is $2500 for the loan. Anything under $2500 they will direct you to a secured credit card offer instead.

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 660, Wally TU 697, EX unknown (05/13/13)
Goal Score: 680 in all three (01/01/14)

Take the FICO Fitness Challenge

SavvyInvestor · ‎04-27-2012

Revelate wrote:
As an added bonus you get your original deposit back (100% LTV) and you can go open up some other secured account type as well; however, the minimum is $2500 for the loan. Anything under $2500 they will direct you to a secured credit card offer instead.

Right. I said "LoC" when I meant installment loan. I don't think USAA does a LoC at all, at least I can't find one.

webhopper · ‎09-16-2011

SavvyInvestor wrote:
Revelate wrote:
As an added bonus you get your original deposit back (100% LTV) and you can go open up some other secured account type as well; however, the minimum is $2500 for the loan. Anything under $2500 they will direct you to a secured credit card offer instead.

Right. I said "LoC" when I meant installment loan. I don't think USAA does a LoC at all, at least I can't find one.

Joey and I looked into getting a secured loan and then putting that same cash towards a secured CC... the cool thing is that they can go pretty high on their limits. Ultimately we nixed that idea and just paid off the cars. Then i found out that he was an NFCU member and they still had him in their system.. Hellow NFCU

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score (myFico + Amex): April 2013 TU 754 EQ 694 EX 694
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Silver Spade Garden Club Member: App Free since 1/1/13. No more apps til 2014
MyFICO Fitness Goal: 800s Club!

Take the myFICO Fitness Challenge