topic Re: USAA - Disappointed - Data points inside in Credit Card Applications

USAA - Disappointed - Data points inside

Anonymous — Mon, 11 Jan 2016 17:02:02 GMT

To add to data points for USAA.

1. They will not do Intrest Rate Decreases period

2. You have to apply for a new card

3. They will not combine credit limits

I called USAA and asked for an interest Rate Reduction on my Low Rate card. It was currently at 15.xx% and the range for that card starts at 6.99%. When I first got the card my credit profile was much different that it is now. I asked to be transfered to a supervisor and what transfered to an Executive Retention Rep (or something like that) who stated the same thing. She was very helpful and I asked if I applied for a new card (Same card, low rate card) could they combine the limits. She said she would call the underwriters and ask and that she has seen it done before.

Well, I went ahead and applied for a second low rate card and got approved for 16K @ 7.99%. She called the underwriters and they came back and said due to federal law that since I applied online they cannot increase my credit limit until 6mos after opening. I reinterated I didnot want a CLI I wanted to combine credit limits.

I was promptly told that they do not combine credit limits.

So now I am stuck with two of the exact same cards albeit one is a much lower rate.

I should have applied for the Citi TY Premier instead.

Thanks for listening

Re: USAA - Disappointed - Data points inside

elim — Mon, 11 Jan 2016 17:10:52 GMT

USAA stopped combining limits a few years ago. Not all lenders do.

Re: USAA - Disappointed - Data points inside

Anonymous — Mon, 11 Jan 2016 21:11:55 GMT

Personally, I'd just be happy to be approved for a $16K card at 7.99%. That's a great limit with an APR lower than many PLOC's.

Re: USAA - Disappointed - Data points inside

FinStar — Tue, 12 Jan 2016 00:15:25 GMT

@elim wrote:
USAA stopped combining limits a few years ago. Not all lenders do.

Right.

OP, there's quite a few data points on the forums as far as USAA goes and the 3 scenarios you mentioned.

Re: USAA - Disappointed - Data points inside

elim — Tue, 12 Jan 2016 00:21:07 GMT

@FinStar wrote:
@elim wrote:
USAA stopped combining limits a few years ago. Not all lenders do.

Right.

OP, there's quite a few data points on the forums as far as USAA goes and the 3 scenarios you mentioned.

I have learned to stop trusting any CSR's (not sure why they aren't helping us with updated/correct information) and head right to theses threads before I make a CC move.