topic Re: USAA Credit cards/banking? in Credit Cards

USAA Credit cards/banking?

sekada — Sun, 18 Apr 2010 16:56:10 GMT

My brother is honorably discharged and has been a USAA member for years. I'm so envious. I know they just loosened their restrictions on membership, but before I call them I was wondering if anybody here has experience with them. Do you need superior credit scores to be accepted? I'm in the 640-ish range currently, and I don't see that improving much in the short-term, unless I can get a USAA card with a lower interest rate and pay down more of my CC debt. Also, for those of you who use them for checking accounts etc, is it convenient? I'm with **bleep** of America now, and I've hated 'em for years, but at least they're accessible when I travel. Thanks for any input!

Re: USAA Credit cards/banking?

JagerBombs89 — Sun, 18 Apr 2010 17:06:06 GMT

@sekada wrote:
My brother is honorably discharged and has been a USAA member for years. I'm so envious. I know they just loosened their restrictions on membership, but before I call them I was wondering if anybody here has experience with them. Do you need superior credit scores to be accepted? I'm in the 640-ish range currently, and I don't see that improving much in the short-term, unless I can get a USAA card with a lower interest rate and pay down more of my CC debt. Also, for those of you who use them for checking accounts etc, is it convenient? I'm with **bleep** of America now, and I've hated 'em for years, but at least they're accessible when I travel. Thanks for any input!

I believe it all depends on what is in your credit report rather than what your score is. I got my first credit card with them after only having credit for 2 months! (So I didn't even have a score back then!)

As for the checking accounts... Yes, it is very convenient! ( I used to have *B* of America too and USAA is much much better!) You might not find a USAA ATM around but USAA will not charge you a fee for using other people's ATMs (up to 10 ATM withdrawals per month I believe ). Also, you get up to $15 a month back in other banks ATM fees. As for deposits? You can deposit with a scanner or with your mobile phone! Cash on the other hand, well that's a different story, unless you feel secure sending cash in the mail.

I rate USAA above any other bank I have dealt with for checking, credit cards, insurance, and everything else they offer.

Re: USAA Credit cards/banking?

Anonymous — Mon, 19 Apr 2010 05:55:45 GMT

My own personal experiences with USAA have been very positive.

I have checking, savings, and insurance with them, and until just recently, owed them a gazillion dollars from my USAA CC that I crashed and burned.

I was speaking to one of their reps last week, and like I told her, they're so nice it's actually almost fun to call them. I think it would be a great place to work because you'd constantly be having your adoring public falling all over you to tell you how great you are. Sort of like being a rock star or pro athlete, only more like a 9 to 5 job and a lot less money.

Anyway, the rep was nice enough to tell me that for a USAA CC a score between 630-644 qualifies for prime + 15.65%, and with a score of 645-659 one would qualify for prime + 13.65%. YMMV. We theorized that I didn't qualify because when I applied my score was probably below the treshold, and she agreed that a reasonable strategy would be to try again next month.

While I was talking to her, I asked her about a USAA secured credit card. She transferred me to someone else, who said she’d mail an application. The secured CC is backed by a two-year CD. You can open it from between $250 to $1500.

So, to answer your question, you will probably qualify. However, you might consider just calling and asking. They'll probably be willing to offer some pretty useful guidelines.

Re: USAA Credit cards/banking?

Itsmeagain — Mon, 19 Apr 2010 14:58:05 GMT

When my highest CL was 10K, USAA offered me a CC with 14,200. Unfortunately, I'm not a full member so the APR is higher but since I PIF each month, who cares?

Great CS too.

Re: USAA Credit cards/banking?

Journey — Mon, 19 Apr 2010 15:02:57 GMT

Jack...

Is that an EQ score you are referencing?

And, does anyone know about the scores needed for a car loan/ refinamce?

Thanks for the information!!!

Re: USAA Credit cards/banking?

sekada — Mon, 19 Apr 2010 15:05:31 GMT

THANKS for this! My brother is a full member and he transferred all $20k he and his wife had on their CC's, and has a 4% fixed rate for life. RIDICULOUS. They are paying down their debt at lightning speed now, thanks to the low interest. And yes, he is always shouting their praises. I'd be thrilled if I could get 15% or lower. Can't wait to call them!

Re: USAA Credit cards/banking?

Anonymous — Tue, 20 Apr 2010 03:40:53 GMT

@Journey wrote:
Jack...
Is that an EQ score you are referencing?

And, does anyone know about the scores needed for a car loan/ refinamce?

Thanks for the information!!!

Yes. The CSR I talked to was referring to the customer's EQ FICO.