topic Re: USAA 27.4APR in Credit Cards

USAA 27.4APR

nicholasyud — Wed, 09 May 2018 20:57:51 GMT

USAA credit card increase again and charge me 27.4% APR. Anyone had any tips how i got them to lower my APR ? Thanks.

Re: USAA 27.4APR

UncleB — Wed, 09 May 2018 21:19:18 GMT

@nicholasyud wrote:
USAA credit card increase again and charge me 27.4% APR. Anyone had any tips how i got them to lower my APR ? Thanks.

Most people have reported being summarily told by the USAA CSR that they don't lower APRs, but there are a couple of reports of it happening, but nothing recently.

@Saleen099's reduction is discussed here: http://ficoforums.myfico.com/t5/Credit-Cards/USAA-Lowered-my-APR/td-p/4440429

There's another that comes to mind but I can't put my finger on it... if I come across it later I'll share here, but it wasn't recent.

If you decide to call or SM to request a reduction be sure to let us know how it goes!

Re: USAA 27.4APR

Appleman — Wed, 09 May 2018 22:24:02 GMT

I did not realize USAA went that high with rates? I just checked and sit at 11% and 17% although I don't carry a balance with either of those cards.

I have better rates on cards at PenFed and NFCU and occasionally carry a balance at 0%.

Re: USAA 27.4APR

UncleB — Wed, 09 May 2018 22:36:21 GMT

@Appleman wrote:
I did not realize USAA went that high with rates? I just checked and sit at 11% and 17% although I don't carry a balance with either of those cards.

I have better rates on cards at PenFed and NFCU and occasionally carry a balance at 0%.

APRs are one area where NFCU clearly has USAA beat, since they have no issues with lowering an APR later on if your scores justify it.

Re: USAA 27.4APR

Anonymous — Wed, 09 May 2018 22:41:58 GMT

Did you pay late? 27.4% is at or near penalty APR for none predatory lenders.

Re: USAA 27.4APR

Anonymous — Wed, 09 May 2018 22:51:29 GMT

@UncleB wrote:
@Appleman wrote:
I did not realize USAA went that high with rates? I just checked and sit at 11% and 17% although I don't carry a balance with either of those cards.

I have better rates on cards at PenFed and NFCU and occasionally carry a balance at 0%.
APRs are one area where NFCU clearly has USAA beat, since they have no issues with lowering an APR later on if your scores justify it.

Not to get too far off the subject, but USAA, in return, has Navy beat in some places. Instant ACH, check deposits, cash back checking, and an app with better overall technology is just some of the ways they exist... Plus Navy doesn't have a 2% no AF card, yet alone 2.5%.

Re: USAA 27.4APR

Anonymous — Thu, 10 May 2018 05:25:29 GMT

@nicholasyud wrote:
USAA credit card increase again and charge me 27.4% APR. Anyone had any tips how i got them to lower my APR ? Thanks.

Increased from what? 27.15%? The Prime Rate recently went up; subsequently all APRs on variable rate cards have or will soon be going up with that change.

USAA does not charge penalty APR; your account when opened was assigned the highest APR based on your creditworthiness at that time. You may certainly try calling for a lower APR or posting on the USAA Community board to have someone look into it for you. USAA is pretty strict with their policies on cards. You may be invited to apply for a new card with the hopes of getting a lower APR.

My other suggestion would be that if you have USAA you should be eligible for NFCU. If your credit warrants it, you could be approved for the NFCU Platinum card which currently has a rate as low as 7.49% should you need a card to revolve a balance on.

Re: USAA 27.4APR

AverageJoesCredit — Thu, 10 May 2018 11:59:05 GMT

Op, please add more info when asking such a question. The more info you add the less speculation you'll get. As stated above, what was your previous apr. Are you making late payments etc. How does your profile look?. That would be like me saying USAA cancelled my account and how can I get it opened again but there is usually always a reason for account changes. Thanks

Re: USAA 27.4APR

nicholasyud — Thu, 10 May 2018 15:12:07 GMT

I can't recall from what rates did they start me with but i think it like 18% or something. I'm a member since 2012. Unbelievable........Its more than cash advance fees.......i guess i never going to used that card ever again.....Terrible USAA.....

Re: USAA 27.4APR

FinStar — Thu, 10 May 2018 15:17:28 GMT

Something doesn't add up. If your APR increased, aside from the standard fed rate hike adjustments, something must've triggered it for sure.

Did you receive any notice of adverse action related to the APR increase? Taken any cash advances out? Ever been late on the CC?

Re: USAA 27.4APR

nicholasyud — Thu, 10 May 2018 17:49:06 GMT

never been late on my credit card but does take some cash advance out from my account from a year ago..........

Re: USAA 27.4APR

FinStar — Thu, 10 May 2018 18:22:12 GMT

Ok, so if you took out a cash advance, was it for a large amount? Did you have a high revolving balance AND the cash advance during the time when that was done?

How did you handle the cash advance, meaning did you PIF inclusive of CA fees and interest without the presence of any other revolving balance?

Re: USAA 27.4APR

UncleB — Thu, 10 May 2018 19:36:55 GMT

USAA isn't known to be overly concerned about cash advances - you can even use the app to take one directly into your USAA checking with no fee - so I'm thinking it's something else.

While we can speculate for days, the simplest solution would be to reach out to USAA via phone or SM and simply ask what happened... I've always found their CSRs to be pleasant.