topic Re: USAA Mastercard/VISA...what's the scoop? in Credit Cards

USAA Mastercard/VISA...what's the scoop?

CreditCrusader — Wed, 16 Nov 2011 02:07:00 GMT

I opened USAA checking and savings accounts recently - and now I'm looking at their credit cards as potential future products (and by future, I mean in the next few months). I do have some questions for anyone who may offer some insight:

1. Are they BK friendly at all - and if so, is there a timeline recommended to increase chances of approval?

2. Does it help to have a range of their products?

3. Does it matter that I am not military?

4. How are their credit lines?

Feedback is appreciated in advance!

Re: USAA Mastercard/VISA...what's the scoop?

Anonymous — Wed, 16 Nov 2011 02:14:46 GMT

Can't speak to the BK friendliness but the customer service is exceptional.

I have the Amex with a $5K limit. Score was 680ish when approved.

I don't believe a pre-approved offer showed up until after opting out, signing up for offers and getting their credit monitoring service. I really only took the card to enable the mobile deposit feature.

Re: USAA Mastercard/VISA...what's the scoop?

CreditCrusader — Wed, 16 Nov 2011 02:29:58 GMT

@Anonymous wrote:
Can't speak to the BK friendliness but the customer service is exceptional.

I have the Amex with a $5K limit. Score was 680ish when approved.

I don't believe a pre-approved offer showed up until after opting out, signing up for offers and getting their credit monitoring service. I really only took the card to enable the mobile deposit feature.

Thank you for the reply.

I know I'm not getting ANYTHING AMEX with a BK7 2 years old. What about their Mastercard? I know the interest is a bit high, but my EQ report is clean other than the BK and I have no late pays whatsoever. Util is 34%.

Re: USAA Mastercard/VISA...what's the scoop?

Anonymous — Wed, 16 Nov 2011 02:38:00 GMT

@CreditCrusader wrote:
@Anonymous wrote:
Can't speak to the BK friendliness but the customer service is exceptional.

I have the Amex with a $5K limit. Score was 680ish when approved.

I don't believe a pre-approved offer showed up until after opting out, signing up for offers and getting their credit monitoring service. I really only took the card to enable the mobile deposit feature.
Thank you for the reply.

I know I'm not getting ANYTHING AMEX with a BK7 2 years old. What about their Mastercard? I know the interest is a bit high, but my EQ report is clean other than the BK and I have no late pays whatsoever. Util is 34%.

It's their Amex Branded card and my Util was over 40%.

They pulled Eq, for me.

That's a relatively new BK, though. My last late payment (when applying) was over 5 years old.

Re: USAA Mastercard/VISA...what's the scoop?

CreditCrusader — Wed, 16 Nov 2011 03:02:50 GMT

@Anonymous wrote:

It's their Amex Branded card and my Util was over 40%.

They pulled Eq, for me.

That's a relatively new BK, though. My last late payment (when applying) was over 5 years old.

I'm so torn on this...just like Discover. On one hand the overall picture of my credit report is good, but that BK...it just looms over everything.

Re: USAA Mastercard/VISA...what's the scoop?

JWatson0405 — Wed, 16 Nov 2011 03:09:12 GMT

I'm hoping to get into the USAA CC family as well... Been thinking about the MC, not sure that I have the scores quite yet though. Do have checking and savings with them, 3 types of insurance and a personal loan with them. Any info would also be appreciated here!

Re: USAA Mastercard/VISA...what's the scoop?

bichonmom — Wed, 16 Nov 2011 03:30:35 GMT

There may be exceptions, but I found out the hard way that they are one of the more stringent lenders. I *thought* I had read here about it being a relatively easy card to get. Well, it isn't. There used to be someone posting here who worked for USAA. I don't know if she's still here or not. But she confirmed after I was denied that they are pretty stringent in approving cards.

There are two kind of members. I have the limited/non-military one, since my family in the military never joined USAA. So, with that m'ship, you're limited as to the types of cards you can apply for. With the full/miliary m'ship, you can start out with a secured card. They apparently would counter-offer if you apply and aren't approved for the product you app'd for. Because of my ltd.m'ship, there was no counter-offer. Only a hard pull and a denial letter. No recon. They don't do that.

Personally, I wouldn't app w/them w/a BK. But others here may have a diff exp.

BTW, I didn't have a BK. I only had a *thin* credit file and one 6 1/2 year old collection for $270. Only one baddie. No approval. I'm hoping I'll be able to qualify in the future. But I'm defintely going to wait until I'm in the credit position where I'll be approved.

Re: USAA Mastercard/VISA...what's the scoop?

JWatson0405 — Wed, 16 Nov 2011 03:33:40 GMT

What was your score at time of app?

Re: USAA Mastercard/VISA...what's the scoop?

bichonmom — Wed, 16 Nov 2011 03:43:17 GMT

Same as it is now. I app'd in June. I believe they pulled EQ.

Re: USAA Mastercard/VISA...what's the scoop?

USAF1988 — Wed, 16 Nov 2011 12:25:42 GMT

Hello,

I felt I should answer your questions since I have a USAA Mastercard.

1. Are they BK friendly at all - and if so, is there a timeline recommended to increase chances of approval?

I have noticed that USAA is a bit conservative when it comes to handing out credit to people so I would be cautious, but don't let it hold you back.

2. Does it help to have a range of their products?

I think it would help if you had a range of products. I know having more products and things can give you discounts and access to do things such as deposit checks using you mobile phone.

3. Does it matter that I am not military?

If you are not military, how do you have a membership? Are you a spouse of a military member? I noticed you said you had a checking and savings opened with them so I would assume you are affiliated with the military somehow.

4. How are their credit lines?

I received my MC when I refinanced my vehicle with them. I actually sat down with someone at a USAA booth at a symposium and I got approved for the refinance and they also approved me for a MC with a $8,000 limit! So I would say there credit lines are very good.

BL, it will all depend on your credit. I hope everything works out!

Re: USAA Mastercard/VISA...what's the scoop?

CreditCrusader — Wed, 16 Nov 2011 13:43:10 GMT

@USAF1988 wrote:

3. Does it matter that I am not military?

If you are not military, how do you have a membership? Are you a spouse of a military member? I noticed you said you had a checking and savings opened with them so I would assume you are affiliated with the military somehow.

I do not believe you have to be military-affiliated to be a USAA member. Your offerings are limited as to products and services, but they still accept you.

Re: USAA Mastercard/VISA...what's the scoop?

haulingthescoreup — Wed, 16 Nov 2011 13:43:25 GMT

@CreditCrusader wrote:
@Anonymous wrote:
Can't speak to the BK friendliness but the customer service is exceptional.

I have the Amex with a $5K limit. Score was 680ish when approved.

I don't believe a pre-approved offer showed up until after opting out, signing up for offers and getting their credit monitoring service. I really only took the card to enable the mobile deposit feature.
Thank you for the reply.

I know I'm not getting ANYTHING AMEX with a BK7 2 years old. What about their Mastercard? I know the interest is a bit high, but my EQ report is clean other than the BK and I have no late pays whatsoever. Util is 34%.

American Express has nothing to do with whether or not you would be approved for a USAA AmEx, or a PenFed AmEx, or a BofA AmEx, or a Macy's AmEx, or any other AmEx card other than one issued by American Express directly (i.e., Zync, Green, Blue Cash, Costco TrueEarnings.)

All these co-branded AmEx cards are processed through their network when you use them, but they aren't issued/ supported/ cancelled by American Express. They just come from the bank lender that offered them (USAA, PenFed, BofA, Department Store National Bank for Macy's, etc.)

So the BK issue would be addressed by USAA.

Oh, and also, co-branded AmEx cards do NOT do the back-dating thing. That is strictly for cards issued by American Express.

Re: USAA Mastercard/VISA...what's the scoop?

haulingthescoreup — Wed, 16 Nov 2011 13:47:09 GMT

@USAF1988 wrote:

... 3. Does it matter that I am not military?

If you are not military, how do you have a membership? Are you a spouse of a military member? I noticed you said you had a checking and savings opened with them so I would assume you are affiliated with the military somehow...

Over the last year or so, USAA began to offer limited membership to those without military ties. I can't keep straight what part is limited: I think it might be access to the insurance products. If I understand correctly, those with limited membership generally have higher APR's on their CC's and lower CL's, but that might be just an initial stage.

eta: sorry, didn't see CreditCrusader's post

Re: USAA Mastercard/VISA...what's the scoop?

CreditCrusader — Wed, 16 Nov 2011 13:49:17 GMT

@haulingthescoreup wrote:
@CreditCrusader wrote:
@Anonymous wrote:
Can't speak to the BK friendliness but the customer service is exceptional.

I have the Amex with a $5K limit. Score was 680ish when approved.

I don't believe a pre-approved offer showed up until after opting out, signing up for offers and getting their credit monitoring service. I really only took the card to enable the mobile deposit feature.
Thank you for the reply.

I know I'm not getting ANYTHING AMEX with a BK7 2 years old. What about their Mastercard? I know the interest is a bit high, but my EQ report is clean other than the BK and I have no late pays whatsoever. Util is 34%.
American Express has nothing to do with whether or not you would be approved for a USAA AmEx, or a PenFed AmEx, or a BofA AmEx, or a Macy's AmEx, or any other AmEx card other than one issued by American Express directly (i.e., Zync, Green, Blue Cash, Costco TrueEarnings.)

All these co-branded AmEx cards are processed through their network when you use them, but they aren't issued/ supported/ cancelled by American Express. They just come from the bank lender that offered them (USAA, PenFed, BofA, Department Store National Bank for Macy's, etc.)

So the BK issue would be addressed by USAA.

Oh, and also, co-branded AmEx cards do NOT do the back-dating thing. That is strictly for cards issued by American Express.

Outstanding info!

Given those facts, are there any AMEX co-branded cards that are notoriously BK friendly?

Re: USAA Mastercard/VISA...what's the scoop?

birjest — Wed, 16 Nov 2011 16:36:09 GMT

Hey, thanks too about bank-sponsor amex. I thought they were part of the amex "family." I have the Zync and I am going to add my wife and son as AU to get them establish with AMEX. It's A Family Affair.....

Re: USAA Mastercard/VISA...what's the scoop?

Anonymous — Wed, 16 Nov 2011 19:54:16 GMT

@haulingthescoreup wrote:
@USAF1988 wrote:

... 3. Does it matter that I am not military?

If you are not military, how do you have a membership? Are you a spouse of a military member? I noticed you said you had a checking and savings opened with them so I would assume you are affiliated with the military somehow...
Over the last year or so, USAA began to offer limited membership to those without military ties. I can't keep straight what part is limited: I think it might be access to the insurance products. If I understand correctly, those with limited membership generally have higher APR's on their CC's and lower CL's, but that might be just an initial stage.

eta: sorry, didn't see CreditCrusader's post

USAA is a bank not a credit union and is open to all

Re: USAA Mastercard/VISA...what's the scoop?

Anonymous — Wed, 16 Nov 2011 19:49:57 GMT

@haulingthescoreup wrote:
@USAF1988 wrote:

... 3. Does it matter that I am not military?

If you are not military, how do you have a membership? Are you a spouse of a military member? I noticed you said you had a checking and savings opened with them so I would assume you are affiliated with the military somehow...
Over the last year or so, USAA began to offer limited membership to those without military ties. I can't keep straight what part is limited: I think it might be access to the insurance products. If I understand correctly, those with limited membership generally have higher APR's on their CC's and lower CL's, but that might be just an initial stage.

My in-laws are/were (one is retired now) in the Army, my wife originally got her membership through her mom (Army). So I got my USAA membership through my wife. However, I can't get insurance products from USAA. When I asked why, I was told that since my mother-in-law has never signed up for insurance through USAA, that means the insurance option just hasn't opened up to us. Since she hasn't had insurance, it means my wife isn't eligible for insurance (unless her mom signs up for it first), which means I can't get it.

When I talked to my mother-in-law about it she said they never even considered signing up for insurance from USAA since they had cheaper insurance elsewhere. Pretty dumb that they regulate it that way, IMO.

Re: USAA Mastercard/VISA...what's the scoop?

haiti222 — Sun, 20 Nov 2011 00:31:00 GMT

They wanted 5 years after discharge and around a 700 FICO when they talked to me about 18 months ago. If you have decent income, you will most likely get a 3k card at that point.

Re: USAA Mastercard/VISA...what's the scoop?

CS800 — Sun, 20 Nov 2011 02:01:31 GMT

If you apply for one of their VISA/Mastercard and you don't get it, they could counter with a Visa Classic (not on their website and this card has no reward).

USAA is still less stringent than PenFed. With PF, do not even think about it if you're not pass the 700 mark.

Re: USAA Mastercard/VISA...what's the scoop?

Elated — Sun, 20 Nov 2011 16:22:37 GMT

CS800, this is great information to know. I just called USAA yesterday to inquire about their credit card products. I initially asked the CSR what the minimum credit score had to be and what are the chances of approval?

She stated she could not discuss any of the optimal numbers that one's credit score should be because they don't provide that information to CSRs. Also, as far as approvals, she couldn't provide me with that infomation either.

She said that the computer was prompting her to ask for me to apply for a Visa and Mastercard, and also for a motorcycle loan. I told her I don't even like motorcyles, so that wouldn't be an option. She then told me again that the computer was prompting her to ask me again to apply for one of their credit cards. However, I this time I cannot because I haven't closed on my home yet, and that I would not be doing that until the first week of January.

She was very nice and pleasant and told me she used to live in the same area I live in, in Florida.

I will definitely try back in a couple of months, and your post just gave me a little more encouragement.

I just recently opened a checking and savings account with them last month.

Again, thanks for the info!