topic Re: USAA Secured AmEx in Credit Cards

USAA Secured AmEx

Anonymous — Wed, 11 Mar 2015 13:13:18 GMT

Is this card any good? I know USAA is a good bank, and all they're the only bank I've ever had, but is the card itself any good? In the future I'd like to get an AmEx actually distributed by AmEx, would this help with getting "my foot in the door"? Or is that just false hope? Im currently 20, and I have no bills other than gas. So I really would just use it here and there. I've applied for cards with USAA, and all got denied. So I'm also just trying to build with them as well. I would only start out with $250 as I have no need for much more.

Re: USAA Secured AmEx

Anonymous — Wed, 11 Mar 2015 13:19:18 GMT

No, this card won't get your "foot in the door" with AMEX. It runs on AMEX's network but all it doesn't actually establish a history with them, it establishes a relationship with USAA.

The secured card is OK. It's not the best but it isn't the worst either. It will help you establish a good credit history that will open doors to get different card with different companies (so in 6-12 months assuming you handle the card well you may be able to get in with AMEX and get an unsecured card at USAA should you choose).

Re: USAA Secured AmEx

Anonymous — Wed, 11 Mar 2015 13:26:57 GMT

I have the USAA Secured MasterCard. I started with just the $250 limit. It's not bad. I like it. There's no rewards so I don't really use it unless I go somewhere that doesn't accept AmEx.

Also, I don't know if this was due to just good usage/payment history/etc. or anything to do with it being with USAA Bank, but 4 months after having my card and using it wisely, FNBO approved me for the SavingStar AmEx card with a $1000 limit (4xs the limit of my ONLY card at the time!).

I hope that once my account ages more, USAA will send me offers for their unsecured card (I've seen others mention this happened with their secured USAA card). There is an "Offers" tab on the My Accounts section that I check regularly, but nothing yet.

I don't have anything bad to say about my experience with USAA, with the exception that if you make a payment of $100 or more, it will clear on your "bill" but it won't clear your "available credit" for 1 week. I checked the reviews on the USAA secured cards before going with them (I chose USAA because they have the lowest APR for a secured card I've seen) and that was the number one complaint. But I don't care. I don't use the card so often that I need the balance to clear that fast.

Re: USAA Secured AmEx

Anonymous — Wed, 11 Mar 2015 13:28:04 GMT

Whether or not to get an AmEx depends on where you live. Do you live in a major metro area (aka a big city)? If so, then you'll likely to be able to use the card at a lot of locations,

If you live in a more rural area though, may be best to try for a secured card with someone else and get a Visa or Mastercard.

Re: USAA Secured AmEx

Anonymous — Wed, 11 Mar 2015 13:35:17 GMT

Well my current credit score isn't neccasarily "bad". Currently have a 729 with TU, and 2 other cards with 0 late payments, and both have 0 balance. Just have to get my Credit util down. I applied for AmEx Green, and Discover It Student. Denied for both, but my score was down at 642 at that time. Idk I just want to build.

Also I live in a city. I have never seen a place here that doesn't accept AmEx.

Re: USAA Secured AmEx

takeshi74 — Wed, 11 Mar 2015 13:41:31 GMT

@Anonymous wrote:
Is this card any good?

Good is always highly subjective. Define "good" and what you're specifically looking for from the card. The details are on USAA's site for you to review and assess.

@Anonymous wrote:
In the future I'd like to get an AmEx actually distributed by AmEx, would this help with getting "my foot in the door"?

Nope. Any card not issued by AmEx will not establish AmEx membership.

@Anonymous wrote:
I've applied for cards with USAA, and all got denied. So I'm also just trying to build with them as well.

You'll need to build/rebuild your credit in general. Take the reason(s) for denial and use that as a starting point.

@Anonymous wrote:
Well my current credit score isn't neccasarily "bad".

@Anonymous wrote:
Just have to get my Credit util down

It's never just about score. If your utilization is high then be very careful with a $250 limit card.

Re: USAA Secured AmEx

takeshi74 — Wed, 11 Mar 2015 13:37:08 GMT

Re: USAA Secured AmEx

NRB525 — Wed, 11 Mar 2015 13:39:50 GMT

@Anonymous wrote:
Well my current credit score isn't neccasarily "bad". Currently have a 729 with TU, and 2 other cards with 0 late payments, and both have 0 balance. Just have to get my Credit util down. I applied for AmEx Green, and Discover It Student. Denied for both, but my score was down at 642 at that time. Idk I just want to build.

Also I live in a city. I have never seen a place here that doesn't accept AmEx.

OP you should go for the USAA secured AMEX. It will serve the three purposes you want very nicely:

1) Show payment action directly with USAA for future loans and CC

2) Give AMEX Centurion Bank a credit history to look at

3) Build your credit file for any other CC apps you do, like Discover.

Give it 6 months with the Secured AMEX and all three of the above objectives will be done. You will get a better card from USAA, a charge or revolver from AMEX, and have doors opened for others such as Discover.

If you don't make any late payments and do not go over limit, I'm telling you you are a 100% lock after 6 months for all three to be realized.

Good luck!

Re: USAA Secured AmEx

Anomalous — Wed, 11 Mar 2015 14:02:05 GMT

I was offered the secured AMEX when I was declined for the cash rewards version. The one thing to note is that your deposit to open this account is locked in a 2-yr interest bearing CD. Also, it doesn't indicate that it'll graduate. The next tier cards (Classics) state that your account will be considered for an upgrade. But, having the secured does give you history with USAA.

Re: USAA Secured AmEx

msbia — Wed, 11 Mar 2015 14:47:30 GMT

OP see my sig? That was the USAA secured Amex. I increased the limit to $500 a month after opening, used the card like crazy and in April last year was approved for a USAA unsecured MC with $7k limit. It is definitely worth it and as someone else mentioned, this card does NOT presently unsecure, it is NOT on the Amex Centurion network and the funds are put into a pitiful interest bearing CD. I just closed my card last month and my deposit was immediately sent to my checking account. I love USAA. If you have any other questions let me know!

Re: USAA Secured AmEx

Marths — Wed, 11 Mar 2015 23:22:11 GMT

I somehow forgot my password since this morning, and the password retrieval process is kind of a pain. So I just made a new account.

Anyways, so I was looking and just decided to apply for a Chase Slate Card and was automatically approved for 1k. I'm going to go ahead and get that, but Im curious. Should I just garden that and forget the USAA secured, or should I get the USAA secured card as well and garden them both?

Also off-topic, how do I get those little signature things all you guys have that say what cards I have?

Re: USAA Secured AmEx

Marths — Thu, 12 Mar 2015 00:18:27 GMT

I was feeling lucky, so I decided to go ahead and apply for the United MileagePlus Explorer card, and I was instantly approved for 5k CL. I guess Im not going to get the secured card anymore since I know have to spend $1k in 3 months! lol

Re: USAA Secured AmEx

gdale6 — Thu, 12 Mar 2015 01:30:54 GMT

@Marths wrote:
I somehow forgot my password since this morning, and the password retrieval process is kind of a pain. So I just made a new account.

Anyways, so I was looking and just decided to apply for a Chase Slate Card and was automatically approved for 1k. I'm going to go ahead and get that, but Im curious. Should I just garden that and forget the USAA secured, or should I get the USAA secured card as well and garden them both?

Also off-topic, how do I get those little signature things all you guys have that say what cards I have?

You need to move up in rank some before you can actually add them, not sure what rank you have to obtain others will know that http://ficoforums.myfico.com/t5/SmorgasBoard/THIS-IS-HOW-YOU-ADD-CREDIT-CARD-PICS-TO-YOUR-PROFILE/td-p/2262839

Grats on both of your new card approvals

Re: USAA Secured AmEx

corymcd88 — Thu, 12 Mar 2015 02:27:58 GMT

I had a secured cc for three years with USAA, perfect payments and no cc offers. 833 EQ FICO. My parents have gotten offers all the time with no cc with USAA. So don't feel bad.

Re: USAA Secured AmEx

NRB525 — Thu, 12 Mar 2015 02:38:24 GMT

@Marths wrote:
I was feeling lucky, so I decided to go ahead and apply for the United MileagePlus Explorer card, and I was instantly approved for 5k CL. I guess Im not going to get the secured card anymore since I know have to spend $1k in 3 months! lol

well that blows the whole secured USAA CC game out the window.

Congratulations! when in doubt, just app the card!

(and to be sure to get your siggy updated, you have to remember your password so you can keep logging in here, and after you post some number of times, your account graduates)

Re: USAA Secured AmEx

Marths — Thu, 12 Mar 2015 02:39:43 GMT

Ohhh kay thanks!

I don't understand this. How was I denied for a Discover IT student card. Yet I was instantly accepted for 5k United Mileageplus, and 1k for Chase Slate... Awell these will help me more with building credit I think. Plus my goal was this United Milageplus anyways since I fly a lot.

Re: USAA Secured AmEx

NRB525 — Thu, 12 Mar 2015 02:53:54 GMT

@Marths wrote:
Ohhh kay thanks!

I don't understand this. How was I denied for a Discover IT student card. Yet I was instantly accepted for 5k United Mileageplus, and 1k for Chase Slate... Awell these will help me more with building credit I think. Plus my goal was this United Milageplus anyways since I fly a lot.

Mileage Plus is an AF card. It is also co-branded, and very possible that the United MileagePlus underwriting at Chase is more lenient than regular Chase, and Discover, and USAA.

Among AMEX Centurion cards, the Delta Gold SkyMiles card is rumored to be the easist card to obtain. You could try apping that at some point soon and may find success there. No guarantees, and you have to decide if it is a card you want and all. With AMEX, even if they give you a $1k limit (a $500 limit is possible) the AMEX 3X CLI program makes it highly likely you can grow the CL with good payment action to AMEX (and every other CC)

Re: USAA Secured AmEx

Marths — Thu, 12 Mar 2015 03:15:42 GMT

I guess I was really low balling myself. I applied for AmEx Blue Cash Everyday, just because I didn't plan on applying for anything else for a couple years, so why not?

Was instantly approved for 2k CL. Interesting day indeed.

Im just so confused. I don't know how to deal with my life.

Re: USAA Secured AmEx

NRB525 — Thu, 12 Mar 2015 03:52:04 GMT

That's easy. Stop apping now

You've got cards that will see you through the next several years with decent rewards and the United AF you have to pay to keep that one.

All you have to do is only charge what you can pay immediately on any of the cards, pay by the due date on the statement, and your credit file will grow month by month.