topic Re: USAA CC Offer in Credit Cards

USAA CC Offer

jwduke — Sat, 14 Jul 2012 17:37:02 GMT

I received a pre-approved offer for a USAA Rate Advantage for up to $25,000/12.9% interest rate.

My question to you guys, should I accept the offer?

I have a number of inquires (15 in the last 2 years), other than that, a 30 late over 4 years ago. My credit score (FICO) is 740......

-or- should I garden for a while???

Re: USAA CC Offer

Ron1 — Sat, 14 Jul 2012 17:43:49 GMT

Yes, pre-approval is not a guarantee approval.

link:

http://www.cardtrak.com/questions/Preapproved_Credit_Card_Offers

Ron.

Re: USAA CC Offer

jwduke — Sat, 14 Jul 2012 17:47:03 GMT

You are correct....Not sure if USAA is inquiry sensitive or not.

Re: USAA CC Offer

Ron1 — Sat, 14 Jul 2012 17:50:56 GMT

@jwduke wrote:
You are correct....Not sure if USAA is inquiry sensitive or not.

Yes, they are inquiry sensitve and credit utilization sensitive. I got denied because of high utilization (8%) many years ago. They pull either EQ or EXP.

Ron.

Re: USAA CC Offer

Anonymous — Sat, 14 Jul 2012 17:53:13 GMT

I thought they were basically always eq and maybe others if marginal.

Re: USAA CC Offer

jwduke — Sat, 14 Jul 2012 17:58:42 GMT

I do already have a "Rewards Card" there, but only have $500 on it. My UTI rate is around 10%.

Re: USAA CC Offer

suebee123 — Sat, 14 Jul 2012 18:52:45 GMT

I would go for it. I love USAA, they gave me my highest limit card when my credit was marginal at best. I had a major derog that was 3 years old and still got a credit card (2 actually).

Re: USAA CC Offer

greeneman21 — Sat, 14 Jul 2012 18:56:17 GMT

Their pre-approvals are as good as a sure, thing. I had various pre-approvals and took advantage of some and they were essentially exactly what was offered. Both CC and auto loan instances.

Re: USAA CC Offer

greeneman21 — Sat, 14 Jul 2012 18:58:51 GMT

They are better reward cards out their, but to have all of your banking under one login, excellent customer service, and you can have all of their rewards cards go to the same bucket, which is great.

Re: USAA CC Offer

Anonymous — Sat, 14 Jul 2012 20:21:41 GMT

@greeneman21 wrote:
Their pre-approvals are as good as a sure, thing. I had various pre-approvals and took advantage of some and they were essentially exactly what was offered. Both CC and auto loan instances.

I agree with greeneman good as gold EQ piller

Re: USAA CC Offer

ceejx — Sat, 14 Jul 2012 20:42:55 GMT

@jwduke wrote:

I have a number of inquires (15 in the last 2 years), other than that, a 30 late over 4 years ago. My credit score (FICO) is 740......

How many inquiries in the last year? they don't matter or figure into your score past 12 months ago... I had high 600s when I apped for them with a late 6 years ago (60) and a major derog paid chargeoff 6 years ago and they gave me two 4k limits.. but when I app'd I was low on inquiries (2 or 3) and 9% UTI on a $300 card

Re: USAA CC Offer

jwduke — Sat, 14 Jul 2012 21:02:47 GMT

I have 8 (INQ) in the past year.....

Re: USAA CC Offer

RockinRay — Sat, 14 Jul 2012 21:09:45 GMT

In my history with USAA, a pre-approval was a sure thing... I say go for it.

Re: USAA CC Offer

j_casteel — Sat, 14 Jul 2012 21:48:11 GMT

@Ron1 wrote:
@jwduke wrote:
You are correct....Not sure if USAA is inquiry sensitive or not.
Yes, they are inquiry sensitve and credit utilization sensitive. I got denied because of high utilization (8%) many years ago. They pull either EQ or EXP.

Ron.

@Anonymous @ 8% being considered high util.

Re: USAA CC Offer

greeneman21 — Sun, 15 Jul 2012 01:52:49 GMT

USAA is not inquiry sensitve (relatively speaking vs other banks like Chase), I have 6 from May-July, 5 of the inquiries are from USAA when i joined them in May and got, my auto loan thru them and 3 CCs, unfortunately they double dinged me on HP once. With that said, 4 apps 4 HP, unfortunately they dont use the same HP.

Re: USAA CC Offer

DaveSignal — Sun, 15 Jul 2012 03:50:04 GMT

I agree with going for the card if you want it, but I don't think that is the best USAA card at all. It is only useful if you are frequently carrying balances because they offer a lower APR. There are no rewards. But they do have a great rewards program that is easy to use and integrated into the USAA site for their rewards cards.

Re: USAA CC Offer

r34dy2fly — Sun, 15 Jul 2012 07:26:28 GMT

I'm not really a fan of USAA's rewards either. I ended up converting to the Cash Rewards program as I generally don't want anything they had listed.

I'm actually about to e-mail and ask about upgrading me to the Active Duty World MC.

Re: USAA CC Offer

ceejx — Sun, 15 Jul 2012 17:02:42 GMT

@r34dy2fly wrote:
I'm not really a fan of USAA's rewards either. I ended up converting to the Cash Rewards program as I generally don't want anything they had listed.

I'm actually about to e-mail and ask about upgrading me to the Active Duty World MC.

Good thing about cash rewards is they have something similar to the UR mall with chase, where they offer extra cash points if you purchase from certain retailers, some good retailers on the list too...

Re: USAA CC Offer

DaveSignal — Tue, 17 Jul 2012 16:07:23 GMT

@r34dy2fly wrote:
I'm not really a fan of USAA's rewards either. I ended up converting to the Cash Rewards program as I generally don't want anything they had listed.

Except the rewards program gives you the option of selecting merchandise, gift cards, or cash back. And you can save up your points forever (they don't expire).

The cash rewards program only allows cash back and then just automatically gives whatever you have earned each January. Rgular rewards, on the contrary, allow cashing whenever you feel like it (as long as you have the points), or save up for as long as desired before cashing.

Re: USAA CC Offer

Anonymous — Tue, 17 Jul 2012 16:28:42 GMT

Although my experience with USAA has been positive and I agree that the pre-approvals under the My Offers tab are almost a sure thing just a word of caution. When they say you are pre-approved for up to $25,000 do not expect that will be the CL on your new card. That is simply the maximum for that product. USAA is not known for leaping out with incredible credit lines if you do not already have high limit products. If your current CL's are lower limit then expect a $2000 - $4,000 CL on the new card.

I have seen posters who have current CC's with USAA in the 5 digits get both a matching CL on the second card and a new CL at 25% of the existing line. But all in all USAA is great to work with and as mentioned their online account management and CSR's are definitely above average.