topic Re: How can I join USAA? in Credit Cards

How can I join USAA?

Anonymous — Tue, 09 Jun 2009 07:42:26 GMT

Is there any other way to get the USAA credit card if I do not have anybody to join through? Is it possible to make a donation like they do with PenFed? I really want a card)

Re: How can I join USAA?

jaxstraw — Tue, 09 Jun 2009 10:45:46 GMT

Unfortunately for you there is just no way or backdoor in.

The membership is exclusive either through military or family, if you don't qualify for membership , you cannot obtain any products.

This is why so many confuse them with a credit union instead of being a bank ( which they are). They operate under very similar guidelines.

Sorry.

Re: How can I join USAA?

Anonymous — Tue, 09 Jun 2009 12:25:14 GMT

I've heard a bunch of things about non-members setting-up various accounts with USAA:

-In this post FICO forum members talk about how checking, savings, and credit card products are now available to non-USAA members

http://ficoforums.myfico.com/fico/board/message?board.id=creditcard&thread.id=162974&view=by_date_ascending&page=1

-In this press release it says "USAA life, investment and retirement products are available to non-USAA members."

http://www.businesswire.com/portal/site/google/?ndmViewId=news_view&newsId=20080804005287&newsLang=en

I'd just give them a call and ask them about what accounts you're eligible for...

Re: How can I join USAA?

Anonymous — Tue, 09 Jun 2009 12:26:02 GMT

I thought USAA was open to all now. Just that you had to be a military member to get most products like insurance and the rewards version of their cards? I believe anybody can get checking/savings and the non-rewards version of their credit cards? Not sure any longer. I've been a member for a while and their insurance rates haven't been anything special and the rewards cards aren't either. The only benefit I can think of is the large credit limits they give and the fact that they won't close you down for inactivity. I haven't ever used my credit cards with them and I have had them a few years.

Re: How can I join USAA?

Anonymous — Wed, 10 Jun 2009 03:53:40 GMT

Thank you guys! Do you think I will still qualify for their high limit cards if I'm not in the military and do not have relationship with them?

Re: How can I join USAA?

Lyythine — Wed, 10 Jun 2009 13:25:38 GMT

Being a member, I cant speak along those lines, however, I doubt it if they will give you the same kind of limits that they give members, only because usually, once you are a member, you have multiple services through them and they feel more secure in giving you better limits, etc: at least thats from my experience. I have been a member since apparently 16 when my mother added me to her car insurance, however, In college, I applied for their credit card as my first choice and was declined. Since then, I have opened renters insurance, checking, savings, transferred my IRA and Investments from BofA to USAA and voila, got their AMEX with a fantastic credit limit.

That being said, Im sure you shouldnt have an issue if you have the right scores they are looking for, however, I would doubt it if you would end up seeing the crazy limits that some of the members here have with them.. (ie: I believe txjohn has a 40k limit or so??)

If your EQ score is above 700 with no baddies, I would say apply and you should most likely be a shoe-in. Ive heard that sometimes they require pay-stubs, W2's, etc: However, in my case they have not requested that yet - but then again, I also dont currently have any type of loan with them other than one cc.

Good Luck!

Re: How can I join USAA?

Anonymous — Wed, 10 Jun 2009 13:52:16 GMT

@Anonymous wrote:
Thank you guys! Do you think I will still qualify for their high limit cards if I'm not in the military and do not have relationship with them?

USAA has opened membership to non-military but with no access to insurance or specific loan products at this time. In order to open an account, you have to call them directly. The credit card you will be able to apply for is the Platinum MasterCard.

Re: How can I join USAA?

score_building — Thu, 11 Jun 2009 14:57:28 GMT

@Anonymous wrote:
Thank you guys! Do you think I will still qualify for their high limit cards if I'm not in the military and do not have relationship with them?
approval standards are apparently much tighter and cl lower than if you were applying for the cc under full membership. the lowest available apr on the limited membership MasterCard is currently 10%. it's a foot in the door with a v. strong bank as a limited member if you open an acct. don't expect the same product availability and terms with this type of membership.

Note: there is only one cc, the mc- currently open to limited membership applicants.

Re: How can I join USAA?

Anonymous — Thu, 11 Jun 2009 19:48:27 GMT

USAA has been focusing on becoming a "bank" for the masses.

For them it is a great way to increase demand deposits, banking income.

As a participant in their "member panel" I saw advance prints of their marketing campaign.

Disclosure: Full member with military background, insurance, savings, retirement, credit priograms with them.

USAA is a solid bank- at the same time limited membership vs Full seems to me to not be that attractive. There are other banks and credit unions that may better suit your needs.

I doubt they will EVER release insurance products to the masses.