topic Re: USAA QUESTIONS in Credit Card Applications

USAA QUESTIONS

Jeffster1 — Fri, 09 Sep 2022 03:52:11 GMT

I joined USAA in 2005 and held one of their CCs (I believe it may have begun as a VISA and transitioned into an Amex). I really enjoyed belonging to USAA. I had a perfect payment history with USAA (as well as the majority of my cards), but filed BK 13 in April 2017 after "treading water no longer worked. It was the best decision I ever made. Of course, the USAA Amex was IIB. I owed $3500, and paid every penny of it in a 100 percent plan. I filed in April 2017 and got my DC in early January 2021.

I had read that USAA was very unforgiving if you include them in BK. I assumed that USAA gave me my walking papers at the outset of the BK. but was surprised to log on recently and see I still have an account there with two very small checking and savings accounts. I guess it was foolish of me but I had to see if I were blacklisted. I applied for one of their Amex's, and was declined.

What surprised me was not my denial but the fact that r hey didn't reference "unsatisfactory past relationship" or something like that in the decision.

They cited...

Serious delinquency and public record or collection filed
Too many inquiries in last 12 months
Number of accounts with delinquency

i wonder if this means that there is some point in the somewhat near future i could get approved.

MOST INTERESTINGLY (for me, at least)...Despite having IIB USAA, and having proof through NDC that they were a creditor, USAA DOES NOT appear on any of my credit reports. It's as if it never existed. I wonder why.

Re: USAA QUESTIONS

Jeffster1 — Fri, 09 Sep 2022 04:06:30 GMT

UPDATE:

I called USAA today and spoke with two very efficient and polite reps, one in banking and one in credit cards. The first rep confirmed that my account is still active, and can be funded. That made me happy.

The second rep accessed my application and encouraged me to apply again, putting more distance between me and the DC. I did not ask about reconsideration for fhe secured Amex because I feel I am past secured cards. (I am actually a fan of secured cards...depending on the lender...as I credit BofA and TDBank for taking a chance on me with their secured cards only two months after discharge. They both graduated about 7 months later).

He said that USAA doesn't blacklist but I don't think any company would admit to a blacklist...maybe I'm wrong. I do think, however, that my denial might have looked a little different if I were on their blacklist...again, maybe I'm wrong.

He seemed pretty encouraging. I can wait, I'm going to remain in gardening mode for a while until some inquiries fall off anyway. Maybe I'm being overly optimistic...and I WILL live without a USAA card, but I guess we all need to have something to shoot for.

I did not ask the question as to why USAA appears nowhere on any of my credit reports. They probably would have transferred to the department that handles BK, and I'd rather not poke the bear. I have confirmation from NDC that they were paid 100 percent of the $3500 debt.

Re: USAA QUESTIONS

cashorcharge — Fri, 09 Sep 2022 19:15:26 GMT

Glad you got some of the answers you were looking for.

Also, it should be noted that USAA does not use the typical EX F8 or F9 for Credit Cards...they use a Mortgage Score (Not sure if it's F3 or F5) and suffice to say...those scores are typically lower than the standard F8 and they don't adjust up as quickly so you may want to try explore other lenders that will be more aligned to a higher score as you get things turned around...

I would think you'll see higher F8/F9 scores and lenders using that will be more generous..

Re: USAA QUESTIONS

Jeffster1 — Tue, 13 Sep 2022 09:27:37 GMT

@cashorcharge wrote:
Glad you got some of the answers you were looking for.
Also, it should be noted that USAA does not use the typical EX F8 or F9 for Credit Cards...they use a Mortgage Score (Not sure if it's F3 or F5) and suffice to say...those scores are typically lower than the standard F8 and they don't adjust up as quickly so you may want to try explore other lenders that will be more aligned to a higher score as you get things turned around...

I would think you'll see higher F8/F9 scores and lenders using that will be more generous..

Thanks for the info. Interesting and useful as to them pulling a different FICO.

i really have/had no burning need or desire for the USAA card at rhe present time. I was really on a fishing expedition to see if USAA had forever closed the door on me. I assumed that I was no longer a member before testing the waters here. This was more geared to the future even though it would have been great to get one of their cards again now.

As it stands, I have gotten a really good lineup of cards already and will just wait. I've closed all but two rebuilders. The card list in my signature is current. I'm waiting for Merrick to begin reporting again to EQ so I can cancel that card.

I still cannot for the life of me understand why USAA does not appear on any of my reports even though it was IIB.

Re: USAA QUESTIONS

SUPERSQUID — Mon, 12 Sep 2022 13:47:27 GMT

@Jeffster1 wrote:
I joined USAA in 2005 and held one of their CCs (I believe it may have begun as a VISA and transitioned into an Amex). I really enjoyed belonging to USAA. I had a perfect payment history with USAA (as well as the majority of my cards), but filed BK 13 in April 2017 after "treading water no longer worked. It was the best decision I ever made. Of course, the USAA Amex was IIB. I owed $3500, and paid every penny of it in a 100 percent plan. I filed in April 2017 and got my DC in early January 2021.

I had read that USAA was very unforgiving if you include them in BK. I assumed that USAA gave me my walking papers at the outset of the BK. but was surprised to log on recently and see I still have an account there with two very small checking and savings accounts. I guess it was foolish of me but I had to see if I were blacklisted. I applied for one of their Amex's, and was declined.

What surprised me was not my denial but the fact that r hey didn't reference "unsatisfactory past relationship" or something like that in the decision.

They cited...
Serious delinquency and public record or collection filed
Too many inquiries in last 12 months
Number of accounts with delinquency

i wonder if this means that there is some point in the somewhat near future i could get approved.

MOST INTERESTINGLY (for me, at least)...Despite having IIB USAA, and having proof through NDC that they were a creditor, USAA DOES NOT appear on any of my credit reports. It's as if it never existed. I wonder why.

IMHO, you are better off getting more cards with NFCU. They already gave you one and i understand you can get up to three.

Re: USAA QUESTIONS

coldfusion — Mon, 12 Sep 2022 14:02:57 GMT

@Jeffster1 wrote:

I still cannot for the life of me understand why USAA does not appear on any of my reports even though it was IIB.

🤷‍♂️

As you had commented, sometimes it's not worth poking the bear. There is no legal requirement for them to report, only that if they choose to report the content must be accurate.

Re: USAA QUESTIONS

DrewfromTexas — Mon, 12 Sep 2022 20:29:06 GMT

I had a chapter 7 BK mid 2016 and while I dont remeber if USAA was included I did have a USAA card at the time that USAA closed. I have applied every year since and just got back in the door with them this year. I have had many cards during this long wait with 20k and 30k limits and zero issues since the BK but USAA took a while to give me another card but they did.

Re: USAA QUESTIONS

SUPERSQUID — Mon, 12 Sep 2022 20:46:40 GMT

@DrewfromTexas wrote:
I had a chapter 7 BK mid 2016 and while I dont remeber if USAA was included I did have a USAA card at the time that USAA closed. I have applied every year since and just got back in the door with them this year. I have had many cards during this long wait with 20k and 30k limits and zero issues since the BK but USAA took a while to give me another card but they did.

What sl did USAA give you?

Re: USAA QUESTIONS

jaxstraw — Tue, 13 Sep 2022 03:12:25 GMT

Do a search on the MyFico site on 'USAA 99 month rule'....or look at this link...

https://ficoforums.myfico.com/t5/Personal-Finance/USAA-Debt-Forgiveness/td-p/5299101

It has been discussed before.

Basically if you burn USAA they don't shut down your checking , savings, or insurance products....but you aren't eligible for another loan product until 99 months passes.

@Jeffster1 wrote:
I joined USAA in 2005 and held one of their CCs (I believe it may have begun as a VISA and transitioned into an Amex). I really enjoyed belonging to USAA. I had a perfect payment history with USAA (as well as the majority of my cards), but filed BK 13 in April 2017 after "treading water no longer worked. It was the best decision I ever made. Of course, the USAA Amex was IIB. I owed $3500, and paid every penny of it in a 100 percent plan. I filed in April 2017 and got my DC in early January 2021.

I had read that USAA was very unforgiving if you include them in BK. I assumed that USAA gave me my walking papers at the outset of the BK. but was surprised to log on recently and see I still have an account there with two very small checking and savings accounts. I guess it was foolish of me but I had to see if I were blacklisted. I applied for one of their Amex's, and was declined.

What surprised me was not my denial but the fact that r hey didn't reference "unsatisfactory past relationship" or something like that in the decision.

They cited...
Serious delinquency and public record or collection filed
Too many inquiries in last 12 months
Number of accounts with delinquency

i wonder if this means that there is some point in the somewhat near future i could get approved.

MOST INTERESTINGLY (for me, at least)...Despite having IIB USAA, and having proof through NDC that they were a creditor, USAA DOES NOT appear on any of my credit reports. It's as if it never existed. I wonder why.

Re: USAA QUESTIONS

Jeffster1 — Tue, 13 Sep 2022 08:01:26 GMT

@jaxstraw wrote:
Do a search on the MyFico site on 'USAA 99 month rule'....or look at this link...
https://ficoforums.myfico.com/t5/Personal-Finance/USAA-Debt-Forgiveness/td-p/5299101
It has been discussed before.
Basically if you burn USAA they don't shut down your checking , savings, or insurance products....but you aren't eligible for another loan product until 99 months passes.

@Jeffster1 wrote:
I joined USAA in 2005 and held one of their CCs (I believe it may have begun as a VISA and transitioned into an Amex). I really enjoyed belonging to USAA. I had a perfect payment history with USAA (as well as the majority of my cards), but filed BK 13 in April 2017 after "treading water no longer worked. It was the best decision I ever made. Of course, the USAA Amex was IIB. I owed $3500, and paid every penny of it in a 100 percent plan. I filed in April 2017 and got my DC in early January 2021.

I had read that USAA was very unforgiving if you include them in BK. I assumed that USAA gave me my walking papers at the outset of the BK. but was surprised to log on recently and see I still have an account there with two very small checking and savings accounts. I guess it was foolish of me but I had to see if I were blacklisted. I applied for one of their Amex's, and was declined.

What surprised me was not my denial but the fact that r hey didn't reference "unsatisfactory past relationship" or something like that in the decision.

They cited...
Serious delinquency and public record or collection filed
Too many inquiries in last 12 months
Number of accounts with delinquency

i wonder if this means that there is some point in the somewhat near future i could get approved.

MOST INTERESTINGLY (for me, at least)...Despite having IIB USAA, and having proof through NDC that they were a creditor, USAA DOES NOT appear on any of my credit reports. It's as if it never existed. I wonder why.

Thanks, @jaxstraw. Great info. I will be interested to see if the fact that I ended up in a 100 percent plan makes any difference. I might test the waters again sometime in 2023. In the meantime, as @SUPERSQUID suggested, I'm going to focus on NFCU.

Re: USAA QUESTIONS

Jeffster1 — Tue, 13 Sep 2022 09:30:09 GMT

Yup, @coldfusion. You're right. I'm definitely not poking that bear.

Re: USAA QUESTIONS

AutisticPretzel — Wed, 14 Sep 2022 23:14:26 GMT

Respectfully, I have to correct you on this. USAA doesn't use mortgage scores but rather Experian FICO BankCard 3 for all of their initial credit card approvals. For CLI's they can pull either Experian or Equifax.

I just applied for and was approved for a new USAA card a month ago so I can verify with certainty that's the score they're pulling.

Re: USAA QUESTIONS

cashorcharge — Thu, 15 Sep 2022 00:32:45 GMT

@AutisticPretzel wrote:
Respectfully, I have to correct you on this. USAA doesn't use mortgage scores but rather Experian FICO BankCard 3 for all of their initial credit card approvals. For CLI's they can pull either Experian or Equifax.

I just applied for and was approved for a new USAA card a month ago so I can verify with certainty that's the score they're pulling.

Thanks for clarifying...at least I got the '3' correct...appreciate it

Re: USAA QUESTIONS

northway — Thu, 27 Oct 2022 23:26:49 GMT

@Jeffster1

Apparently there is a 99 month CO/BK/record limiter that USAA has in place. On your 100 month (8.3 years), apparently the data entry is either deleted or the lending product restriction is removed from your profile according to some previous posts with a USAA insider.

I'm currently in USAA CO hell and wondering if it's actually true as well. I was able to apply for one single credit card 5 years after since they updated to the new website, and ever since then I receive an error stating that entire credit card website is unavailable to me and any banking products say that the request cannot be completed and to please call in. My checking/savings/insurance are still in place even after two somewhat sizeable CC COs about 5 years ago.

Re: USAA QUESTIONS

DrewfromTexas — Mon, 31 Oct 2022 17:06:25 GMT

Sorry I just saw this. $8000 is what they started me at.

By comparison my venture X is 30k, NFCU flagship is 46,500, NFCU amex is $33,500, penfed is 20k, BofA, 10,500 and other various cards in the same range.

@SUPERSQUID wrote:
@DrewfromTexas wrote:
I had a chapter 7 BK mid 2016 and while I dont remeber if USAA was included I did have a USAA card at the time that USAA closed. I have applied every year since and just got back in the door with them this year. I have had many cards during this long wait with 20k and 30k limits and zero issues since the BK but USAA took a while to give me another card but they did.
What sl did USAA give you?