topic Re: USAA SECURED AMERICAN EXPRESS in Credit Cards

USAA SECURED AMERICAN EXPRESS

arredondo3417 — Thu, 15 Mar 2012 07:28:09 GMT

OK SO. I STOP BY THE USAA WEBSITE AND I NOTICE OF THE AMERICAN EXPRESS SECURED CARD HOW DOES THIS CARD WORKS. DOES ANYONE HAS THIS CARD ALREADY. HOW DO I APLY FOR I WILL REALLY LIKE TO HAVE THIS CARD EVEN IF IS A SECURED CARD. DOES ANYONE HAS THIS CARD OR HAD SEEN IT BEFORE ????

Re: USAA SECURED AMERICAN EXPRESS

xboxrunner — Thu, 15 Mar 2012 07:36:11 GMT

@arredondo3417 wrote:
OK SO. I STOP BY THE USAA WEBSITE AND I NOTICE OF THE AMERICAN EXPRESS SECURED CARD HOW DOES THIS CARD WORKS. DOES ANYONE HAS THIS CARD ALREADY. HOW DO I APLY FOR I WILL REALLY LIKE TO HAVE THIS CARD EVEN IF IS A SECURED CARD. DOES ANYONE HAS THIS CARD OR HAD SEEN IT BEFORE ????

You should rewrite your post so its clearer for people to understand; otherwise you might not get any helpful responses.

Re: USAA SECURED AMERICAN EXPRESS

arredondo3417 — Thu, 15 Mar 2012 07:46:38 GMT

my bad. What im trying to say is if this card is like all the other secured credit cards I mean is an American express does it comes with rewards like most of the American express cards I have never seen an American express secured credit card ???

Re: USAA SECURED AMERICAN EXPRESS

Anonymous — Thu, 15 Mar 2012 08:22:53 GMT

I would say no. Although you should check the fine print. They way I interpret this, is, that the card is simply on the American Express network. It is not a card that is backed by them. USAA is the issuer, therefore they provide the rates, etc. American Express does not offer secured cards.

Re: USAA SECURED AMERICAN EXPRESS

LS2982 — Thu, 15 Mar 2012 09:28:34 GMT

@Anonymous wrote:
I would say no. Although you should check the fine print. They way I interpret this, is, that the card is simply on the American Express network. It is not a card that is backed by them. USAA is the issuer, therefore they provide the rates, etc. American Express does not offer secured cards.

Re: USAA SECURED AMERICAN EXPRESS

haulingthescoreup — Thu, 15 Mar 2012 13:52:20 GMT

@arredondo3417 wrote:
my bad. What im trying to say is if this card is like all the other secured credit cards I mean is an American express does it comes with rewards like most of the American express cards I have never seen an American express secured credit card ???

It won't put you in the American Express rewards network, which is run by American Express. If it's like the other non-secured USAA cards, it will offer the USAA rewards.

Also, if it's the non-secured USAA AmEx, it offers the consumer protections that come from the network (extended warranty, etc.)

As the others said, read the section on benefits on the site, or call up customer service. They're very helpful.

Re: USAA SECURED AMERICAN EXPRESS

TryN2Rebuild — Thu, 15 Mar 2012 14:16:17 GMT

The secured card AMEX thru USAA doesn't have rewards with it. I have the secured AMES thru USAA. Also like everyone has said on these forums this card will not graduate to an unsecured card. Just so you are aware of that.

Re: USAA SECURED AMERICAN EXPRESS

Anonymous — Thu, 15 Mar 2012 18:30:15 GMT

I have the USAA American Express Secured Credit Card and there ARE some rewards you can get because you will be on the American Express network. For instance, American Express runs a promotion from time to time for using an American Express card at a Small Business. You will find these kinds of promotions on Facebook. My husband and I both signed up for that promotion and when we shopped at the recommended Small Business in our neighborhood, we each got a $20 statement credit. SO, you just have to watch on Facebook for American Express promotions. ALSO, you can shop on the USAA website at their online store and get points-type rewards there. But, otherwise, the USAA American Express Secured Credit Card does NOT generate any points or cash back rewards of its own. It does not graduate to an unsecured REAL credit card. You can add as much as you like to fund the card's credit limit. And, you will make a little money on the CD that you open when you set up the account for this card. Beware though that it takes FOREVER to set up the card and actually get it in the mail but, when you finally do get it, you won't leave home without it.

Hope this helps!

Re: USAA SECURED AMERICAN EXPRESS

arredondo3417 — Thu, 15 Mar 2012 20:32:28 GMT

THANK YOU FOR THE ADVICE I REALLY APRECIATE

Re: USAA SECURED AMERICAN EXPRESS

Anonymous — Sun, 06 May 2012 16:30:23 GMT

Sorry to dig up an old thread but I've yet to find an answer to my question. Does USAA do a hard pull for a secured Amex? I'm interested in opening an account, and I had begun to fillout the application but stopped as I did not know. I'd rather not take the hit. If they do a hard pull, can anyone speak to what their average score for approval is?

Re: USAA SECURED AMERICAN EXPRESS

Anonymous — Sun, 06 May 2012 17:14:23 GMT

I can't speak for people that were approved, but I would assume that since it is a credit application, there will be a hard pull.

Re: USAA SECURED AMERICAN EXPRESS

Revelate — Sun, 06 May 2012 23:58:58 GMT

I'm not absolutely certain; however, USAA told me they were going to do a credit inquiry to open a secured CD loan with them (loan secured with a CD as collateral, the same way USAA does for their secured credt cards), and while I haven't checked my real Exquifax report this year to see, I have to assume they did as they disclosed. I don't see why it'd be any different with a secured credit card.

Re: USAA SECURED AMERICAN EXPRESS

Anonymous — Mon, 07 May 2012 12:58:30 GMT

It's a hard pull. For sure.

Re: USAA SECURED AMERICAN EXPRESS

amkari — Mon, 07 May 2012 15:40:06 GMT

I opened mine back in July 2011 with a $500 deposit... it was hard pull and took about 3 weeks to get the card.

I added another $500 to the CD when I got my tax refund in February of this year.

The CD is locked in for 2 yrs but you can add to it whenever you want in increments of $50.

Having, and using it, helped my scores to go up about 50-75 pts in the time I had it (only other open TL was $300 WFNNB/Lane Bryant which CLI at the same time I added to AMEX).

Re: USAA SECURED AMERICAN EXPRESS

Anonymous — Wed, 09 May 2012 06:04:31 GMT

Thank you all for the feedback. Can anyone speak to what their scores were/ if they had any charge offs when approved for the secured card?

Re: USAA SECURED AMERICAN EXPRESS

Anonymous — Wed, 09 May 2012 18:46:37 GMT

I have the AMEX secured card from USAA. It was a hard pull to open the CD and get the card. So far everything has been good, after the two years USAA will re-evaluate you and if they will give you a non-secured card they will give you what you put into the CD plus interest that you earned. I like it because it is basically forcing me to save money since I really cant touch money I put into the CD

Re: USAA SECURED AMERICAN EXPRESS

Revelate — Wed, 09 May 2012 23:34:30 GMT

@Anonymous wrote:
I have the AMEX secured card from USAA. It was a hard pull to open the CD and get the card. So far everything has been good, after the two years USAA will re-evaluate you and if they will give you a non-secured card they will give you what you put into the CD plus interest that you earned. I like it because it is basically forcing me to save money since I really cant touch money I put into the CD

Are you sure it was a HP to open the CD? I haven't looked at my full EQ report since December (which was before I opened the CD and secured loan against it), but they never asked disclosed the inquiry on the CD, and it would be awfully wierd to do a HP on any depository account... other than the specialness of member-owned institutions like CU's.

Re: USAA SECURED AMERICAN EXPRESS

Anonymous — Thu, 10 May 2012 04:10:21 GMT

@Anonymous wrote:
Thank you all for the feedback. Can anyone speak to what their scores were/ if they had any charge offs when approved for the secured card?

We didn't have any FICO® scores at all and we were approved.

Re: USAA SECURED AMERICAN EXPRESS

Adalen — Thu, 10 May 2012 04:19:42 GMT

I have a few CO accounts and I was approved for an unsecured (Classic) USAA AmEx, 607EQ with $1K CL.

Re: USAA SECURED AMERICAN EXPRESS

Revelate — Thu, 10 May 2012 04:22:07 GMT

@Adalen wrote:
I have a few CO accounts and I was approved for an unsecured (Classic) USAA AmEx, 607EQ with $1K CL.

I forgot to ask you this on a different thread, but did you have any pre-approval offers from USAA besides the usual run-of-the-mill ones they post?

I know the Classic is an offer they counter with, I'm expecting to get that if I get approved for anything when I make my little app spree in December.