topic Re: USAA in Credit Cards

USAA

Anonymous — Thu, 23 Aug 2012 14:12:24 GMT

Was denied a CC with USAA. I am a full member (member since 1998) served in the Army for 10yrs. My husband is currently in the military. However, was offered a secured Mastercard/Visa. Is it worth it to get the secured or should I open a NFCU acct and in 3-6months apply for a card with NFCU? (will be paying off all credit cards totaling $1400 at the end of this month)

FAKO EQ 596, EX 596, TU 652

Re: USAA

DaveSignal — Thu, 23 Aug 2012 14:23:05 GMT

You should get the secured card. Your scores are too low for a good card from any bank, including NFCU. Build positive history with your USAA secured and you will have good chance to be approved for great credit. I started my rebuilding with a $1k USAA secured card.

EDIT: find out what your FICO scores are.

Re: USAA

Anonymous — Thu, 23 Aug 2012 14:41:25 GMT

I just recently (2.5 weeks ago) was approved for a BoA Platnuim CC CLI 3K. Thats why I asked if I should wait 3-6months from now to reapply.

MyFico only provides close EQ scores or is it TU and EQ?

Thanks for the advice

Re: USAA

Anonymous — Thu, 23 Aug 2012 14:48:51 GMT

@Anonymous wrote:
Was denied a CC with USAA. I am a full member (member since 1998) served in the Army for 10yrs. My husband is currently in the military. However, was offered a secured Mastercard/Visa. Is it worth it to get the secured or should I open a NFCU acct and in 3-6months apply for a card with NFCU? (will be paying off all credit cards totaling $1400 at the end of this month)

FAKO EQ 596, EX 596, TU 652

Both you and your husband should join NFCU now while you are still eligible. NFCU is by far the most generous financial institution with those rebuilding credit.

2nd, STOP APPING. Other poster was right, you are unlikely to get any approvals from decent cards with those scores. You are just harming your scores from the inquiries.

Once your credit cards are paid off, wait for them to report and pull your credit score from here. Buy the EQ FICO score (not the TU score). Then come back and give us your score and details on your credit file (AAoA, what cards/limits/balances, any bads,etc.). We will be able to give you some great advice to get better cards and improve that credit over the long term.

Re: USAA

Anonymous — Thu, 23 Aug 2012 14:55:12 GMT

Crashem Thanks! We will join this weekend! I heard NFCU was very generous. We were going to get their shared secured personal loan to help with our crediit scores!

I come back and rely the info. Since we are paying them down at the end of the month (Aug 30th) do most CC companies update the balance to the CRAs if you ask?

Re: USAA

Anonymous — Thu, 23 Aug 2012 15:05:22 GMT

@Anonymous wrote:
Crashem Thanks! We will join this weekend! I heard NFCU was very generous. We were going to get their shared secured personal loan to help with our crediit scores!
I come back and rely the info. Since we are paying them down at the end of the month (Aug 30th) do most CC companies update the balance to the CRAs if you ask?

Its really a case by case basis. Expect them to report within a few days of when the statement is generated. So you might want to pay off the cards whose statement is being generated sooner. Call the rest of them and ask. Tell them you are looking at home/auto/whatever loan and you need them to do a "MID CYCLE" reporting.

As for NFCU, I would consider having both you and your husband open separate accounts but up to you. Separate accounts means double the cards as both you and husband can get one. Also, any idea what his credit is like? You could apply jointly if his is good.

BTW, USAA isn't too hard to get approval. No idea what your util is like, but if it is significant, you might get enough of FICO score bump to qualify for their cards.

Re: USAA

Anonymous — Thu, 23 Aug 2012 15:46:56 GMT

Thats exactly what I was planning on doing, we both seperatley apply and join (more bang for the buck)!! All our of our CCs are 1 opens and then adds the other as AU. His credit is slightly worse than mine.

My cards are at a high UTLI, I make great money annual 105K. For example, Orchard/Cap1: $300/$320 CLI, Jareds:$809/$1500CLI, BoA 0/$3K CLI, SAKS $0/$1500CLI (all the list accounts will be paid off by the end of this month)

4 Install Loans: 2 car/ 2 student loans (totaling $5K will have 1 paid off by mid nexy month)

Baddies: 1 CO Orchard bank/HSBC (GW letter stated they will refund the fees since the acct was under the SCRA but cant delete...although CAP1 has deleted the 2 neg TLs. Will go back and send another GW stating Cap1 who owns HSBC now deleted their neg TLs why cant they), Default student loan which I am waiting to have reported positively...was in default but rehab the loan which is the 2 student loans reference above. Rep stated it should take 30 dyas for the CRAs to update the default of the Student loans to report "Pays, as agreed". 4 COs that I am disputing and 1 acct that is NOT MINE but the CA is reporting on it too. Waiting for my Citicard to delete which I have documents for the Exec office stating they will and lastly a PIF CO from Citifinancial that I have GW'd and waiting on them to reply back.

Re: USAA

chasmith — Sun, 09 Sep 2012 16:50:20 GMT

I just noticed this, I have both USAA and NFCU, agree you should join NFCU. Apply for a credit caard, they might suyrprise you but if they won't give you an unsecured card, do a double or triple play - put some money on a secured personal loan. Then deposit the loan proceeds to secure one or two credit cards (one for each?).

Then be patient and don''t use the credit. My secured card graduated a year later with a CLI...

Re: USAA

Anonymous — Mon, 10 Sep 2012 13:53:31 GMT

@Anonymous wrote:
@Anonymous wrote:
Crashem Thanks! We will join this weekend! I heard NFCU was very generous. We were going to get their shared secured personal loan to help with our crediit scores!
I come back and rely the info. Since we are paying them down at the end of the month (Aug 30th) do most CC companies update the balance to the CRAs if you ask?
Its really a case by case basis. Expect them to report within a few days of when the statement is generated. So you might want to pay off the cards whose statement is being generated sooner. Call the rest of them and ask. Tell them you are looking at home/auto/whatever loan and you need them to do a "MID CYCLE" reporting.

As for NFCU, I would consider having both you and your husband open separate accounts but up to you. Separate accounts means double the cards as both you and husband can get one. Also, any idea what his credit is like? You could apply jointly if his is good.

BTW, USAA isn't too hard to get approval. No idea what your util is like, but if it is significant, you might get enough of FICO score bump to qualify for their cards.

Re: USAA

CS800 — Mon, 10 Sep 2012 14:57:12 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
Crashem Thanks! We will join this weekend! I heard NFCU was very generous. We were going to get their shared secured personal loan to help with our crediit scores!
I come back and rely the info. Since we are paying them down at the end of the month (Aug 30th) do most CC companies update the balance to the CRAs if you ask?
Its really a case by case basis. Expect them to report within a few days of when the statement is generated. So you might want to pay off the cards whose statement is being generated sooner. Call the rest of them and ask. Tell them you are looking at home/auto/whatever loan and you need them to do a "MID CYCLE" reporting.

As for NFCU, I would consider having both you and your husband open separate accounts but up to you. Separate accounts means double the cards as both you and husband can get one. Also, any idea what his credit is like? You could apply jointly if his is good.

BTW, USAA isn't too hard to get approval. No idea what your util is like, but if it is significant, you might get enough of FICO score bump to qualify for their cards.
+1

+ 2

Re: USAA

TryN2Rebuild — Mon, 10 Sep 2012 15:01:06 GMT

Your secured card with USAA graduated? I didn't think those cards did that.

Re: USAA

chasmith — Mon, 10 Sep 2012 15:05:07 GMT

Sorry, it was the NFCU Card that graduated after one year.

Re: USAA

jdirilo — Mon, 10 Sep 2012 15:08:02 GMT

My scores are worse than yours(CreditKarma shows my TU as 576) and my other two are lower. And I just opened an NFCU account and was approved for an unsecured CC for $500. I didn't think I would get approved, but everyone on here was saying they were very generous, so I gave it a shot.

Re: USAA

chasmith — Mon, 10 Sep 2012 16:03:00 GMT

NFCU has only pulled EQ for my applications. I've heard of them pulling EX but I think that might be because the inherited a contract from their acquisition of another CU a year or two ago. So the EQ FICO is the thing to look at.

Re: USAA

Anonymous — Tue, 11 Sep 2012 16:32:51 GMT

Thanks for the info everyone.....I joined NFCU and PSECU. I have not applied for a card as of yet...I recieved a BofA card last month with a 3K CL ( think they were generous bcuz I have an IRA with them from my previous employer) I am trying to get other baddies off before I apply for a CC or refinance our truck at either CUs. However, I know FAKOs are worthless but I started out joining this forum Aug 8 2012 with FAKO scores EX 565 EQ 550 TU 602 and know they are EX 633 EQ 633 and TU 674. Cant get my EX FICO yet from PSECU since I just joined this month but I think by December and working to remove 3 of the 5 baddies left on my Credit report I should be high 600s maybe 700.

Thanks again everyone!