topic Re: USAA Lowered my APR in Credit Cards

USAA Lowered my APR

Saleen099 — Wed, 03 Feb 2016 20:21:04 GMT

USAA lowered my APR from 20.95% to 14.15% and upgrading my account to cash rewards.

Re: USAA Lowered my APR

creditFiend — Wed, 03 Feb 2016 20:27:05 GMT

That's awesome! Congrats
How long have you had the card? Have you received an auo cli's from them?
My six months will be in March. SL $7,000

Re: USAA Lowered my APR

Saleen099 — Wed, 03 Feb 2016 20:36:42 GMT

@creditFiend wrote:
That's awesome! Congrats
How long have you had the card? Have you received an auo cli's from them?
My six months will be in March. SL $7,000

Thanks creditFiend.

I have had the account 1 Year. One credit line increase for 1K.

Re: USAA Lowered my APR

ddemari — Wed, 03 Feb 2016 20:54:58 GMT

Congrats! thats a nice reduc!

Re: USAA Lowered my APR

UncleB — Wed, 03 Feb 2016 21:45:36 GMT

Holy smoke, that's awesome!

It looks like today several of our anecdotal 'rules' are demonstrating that they are indeed made to be 'bent', if not down-right broken sometimes! This is the first time I've heard of USAA lowering an APR or changing an account reward type without simply telling you to apply for the account you want... this is indeed great news for me!

I really (really!) like them, but their card is now sort of 'meh' compared to my other cards. It was the first 'big boy' card I got, and at the time 16.9% was actually quite good (I thought) but now I have several other cards that beat them on APR. I did receive an auto-CLI back around my 1 year anniversary in November (increased from $7k to $8.4k) but having a lower APR for those occasions I would like to carry a balance for a few months sure would be nice. Right now, NFCU is getting all of my pay-over-time love... and I suspect I'm not alone.

Just a quick question, did you call them up or send a SM? Whichever method you used, was it like begging and pulling teeth, or is this something they seem to be agreeable to now?

Sorry for the questions, but inquiring minds want to know!

Anyway, major congrats on the account changes... to me, this is a bigger deal than a new approval!

Sidenote: the other 'rule' I saw reportedly 'breached' was the two Amex revolver approvals in a single day 'rule'. Generally - or at least anecdotally - it's a charge and a revolver you can do back-to-back, but not two revolvers... or the second one goes to manual review. That being said, someone over in approvals reported getting an Amex Hilton and a Delta Gold in the same day, both auto-approved - the first I've ever heard of that!

While structure is nice, it's extra-nice when old constraints are relaxed, especially if they were arbitrary to begin with (such as USAA not adjusting an APR).

Re: USAA Lowered my APR

Jarrodpd — Thu, 04 Feb 2016 00:12:10 GMT

@Saleen099 wrote:
@creditFiend wrote:
That's awesome! Congrats
How long have you had the card? Have you received an auo cli's from them?
My six months will be in March. SL $7,000
Thanks creditFiend.
I have had the account 1 Year. One credit line increase for 1K.

Same here I have had my card for a year and a half and im stuck at $2500, my amex is at $8700 and I got a SL of $2100 with US bank. USAA needs to extend some love so I can get a signature Visa when the new cards get sent out.

Re: USAA Lowered my APR

Anonymous — Thu, 04 Feb 2016 00:22:19 GMT

Wow.. Awesome.. Enjoy it..

Re: USAA Lowered my APR

Saleen099 — Thu, 04 Feb 2016 02:05:52 GMT

@UncleB wrote:
Holy smoke, that's awesome!

It looks like today several of our anecdotal 'rules' are demonstrating that they are indeed made to be 'bent', if not down-right broken sometimes! This is the first time I've heard of USAA lowering an APR or changing an account reward type without simply telling you to apply for the account you want... this is indeed great news for me!

I really (really!) like them, but their card is now sort of 'meh' compared to my other cards. It was the first 'big boy' card I got, and at the time 16.9% was actually quite good (I thought) but now I have several other cards that beat them on APR. I did receive an auto-CLI back around my 1 year anniversary in November (increased from $7k to $8.4k) but having a lower APR for those occasions I would like to carry a balance for a few months sure would be nice. Right now, NFCU is getting all of my pay-over-time love... and I suspect I'm not alone.

Just a quick question, did you call them up or send a SM? Whichever method you used, was it like begging and pulling teeth, or is this something they seem to be agreeable to now?

Sorry for the questions, but inquiring minds want to know!

Anyway, major congrats on the account changes... to me, this is a bigger deal than a new approval!

Sidenote: the other 'rule' I saw reportedly 'breached' was the two Amex revolver approvals in a single day 'rule'. Generally - or at least anecdotally - it's a charge and a revolver you can do back-to-back, but not two revolvers... or the second one goes to manual review. That being said, someone over in approvals reported getting an Amex Hilton and a Delta Gold in the same day, both auto-approved - the first I've ever heard of that!

While structure is nice, it's extra-nice when old constraints are relaxed, especially if they were arbitrary to begin with (such as USAA not adjusting an APR).

Don't worry about the question. I was actually shocked and the way I found out was a logged in to the mobile app just to check when my bill dropped that's when I noticed everything was changed around. I never called up I never sent secure message and actually I never got anything in the mail about the changes that happened in all honesty I don't even think I spent under $100 on the card since I was first approved.

Re: USAA Lowered my APR

Saleen099 — Thu, 04 Feb 2016 02:08:17 GMT

@Jarrodpd wrote:
@Saleen099 wrote:
@creditFiend wrote:
That's awesome! Congrats
How long have you had the card? Have you received an auo cli's from them?
My six months will be in March. SL $7,000
Thanks creditFiend.
I have had the account 1 Year. One credit line increase for 1K.

Same here I have had my card for a year and a half and im stuck at $2500, my amex is at $8700 and I got a SL of $2100 with US bank. USAA needs to extend some love so I can get a signature Visa when the new cards get sent out.

They definitely need to extend some love because the amount of money that I spent on insurance a year is just astronomical but I am shocked that they actually gave me $1000.

Re: USAA Lowered my APR

Anonymous — Thu, 04 Feb 2016 02:12:21 GMT

Fantastic Saleen !!! thats a GREAT reduction

Re: USAA Lowered my APR

Saleen099 — Thu, 04 Feb 2016 02:18:51 GMT

@Anonymous wrote:
Fantastic Saleen !!! thats a GREAT reduction

Thanks Mia25. I think they finally came to the realization that they were going to have to do something different to give me to spend money on the card.

Re: USAA Lowered my APR

Jarrodpd — Thu, 04 Feb 2016 02:36:21 GMT

@Saleen099 wrote:
@Jarrodpd wrote:
@Saleen099 wrote:
@creditFiend wrote:
That's awesome! Congrats
How long have you had the card? Have you received an auo cli's from them?
My six months will be in March. SL $7,000
Thanks creditFiend.
I have had the account 1 Year. One credit line increase for 1K.

Same here I have had my card for a year and a half and im stuck at $2500, my amex is at $8700 and I got a SL of $2100 with US bank. USAA needs to extend some love so I can get a signature Visa when the new cards get sent out.
They definitely need to extend some love because the amount of money that I spent on insurance a year is just astronomical but I am shocked that they actually gave me $1000.

Thats a shocker, im 21 and I have a 2015 VW Golf MK7 for $80-90 per month. Granted im on my parents policy and the lease included gap insurance. Typically though they are great on insurance, my parents policy with three cars and me is cheaper than my 25yr old brother which has had several speeding tickets(one for 110mph) and has a mustang GT.

Re: USAA Lowered my APR

jlpaca — Thu, 04 Feb 2016 03:42:48 GMT

Great for you. I've tried and called a couple times asking for an apr reduction but they always said that they don't do that. Mine actually just raised with the fed raise.

Re: USAA Lowered my APR

OmarGB9 — Thu, 04 Feb 2016 04:46:30 GMT

Grats

Re: USAA Lowered my APR

alvon123 — Thu, 04 Feb 2016 13:28:08 GMT

congrats

Re: USAA Lowered my APR

Anonymous — Thu, 04 Feb 2016 17:48:48 GMT

Congrats!

I've had my platinum mastercard since 2006, and while it has a great interest rate (8%!), I've been stuck at a $2000 CL since 2007. Jealous that you're at least seeing some sort of movement on your account!

Re: USAA Lowered my APR

Saleen099 — Thu, 04 Feb 2016 19:09:03 GMT

@Anonymous wrote:
Congrats!

I've had my platinum mastercard since 2006, and while it has a great interest rate (8%!), I've been stuck at a $2000 CL since 2007. Jealous that you're at least seeing some sort of movement on your account!

Thanks. Wow that's crazy why have they not raise your credit limit?

Re: USAA Lowered my APR

gibeon — Wed, 10 Feb 2016 14:36:34 GMT

Hi Saleen, Congrats!

I'm very curious to know if your card was a "Classic" before the PC and APR drop?

Thanks,
Gib

Re: USAA Lowered my APR

takeshi74 — Wed, 10 Feb 2016 14:44:08 GMT

@UncleB wrote:
This is the first time I've heard of USAA lowering an APR or changing an account reward type without simply telling you to apply for the account you want...

I've changed reward type in the past. Can't get them to PC though.

@UncleB wrote:
It looks like today several of our anecdotal 'rules' are demonstrating that they are indeed made to be 'bent', if not down-right broken sometimes!

That is a potential pitfall with generating rules based on anecdotal evidence.

@Jarrodpd wrote:
Same here I have had my card for a year and a half and im stuck at $2500, my amex is at $8700 and I got a SL of $2100 with US bank. USAA needs to extend some love so I can get a signature Visa when the new cards get sent out.

It's not about love. As with any creditor it's about what your credit profile and income qualify for. I recently hit max exposure and to request a CLD for some headroom on a CLI on another card.

@Saleen099 wrote:
They definitely need to extend some love because the amount of money that I spent on insurance a year is just astronomical but I am shocked that they actually gave me $1000.

How much you spend on insurance isn't relevant. YMMV but I know I'd be paying more with other insurance companies for lesser service (and those companies aren't extending greater limits on their credit cards if they offer any).

Re: USAA Lowered my APR

Saleen099 — Wed, 10 Feb 2016 14:42:40 GMT

@gibeon wrote:
Hi Saleen, Congrats!

I'm very curious to know if your card was a "Classic" before the PC and APR drop?

Thanks,
Gib

Thanks gibeon.

Yes It was a classic MasterCard with a $35 annual fee.