topic Re: Crazy USAA Story in Credit Cards

Crazy USAA Story

flowfaster — Sat, 09 Feb 2013 00:17:09 GMT

So I am helping my DGF rebuild from divorce yada yada yada. She has 1 collection and a big fat unpaid REPO (ex DH car) that was only two and a half years old. We decided to get another bank card for her because all she had was a $750 cap one. I also wanted to target equifax because it was her best report. So in JAN, being that she was a full USAA member, we applied for the rewards visa and was denied. She was counter offered the secured card but we did not take it.

1 month later we did an online dispute on equifax. She disputed every negative account on file. After about 20 days the results came back.....DELETED, everything. The fresh Ford Motors repo (legit)...GONE!!! So we applied again and was approved instantly for $13,000 at 9.9% APR. I just can't believe it. Her highest bank card is $750. USAA really hooks you up. Now we just have to work on the other reports.

I am not sure if her being an AU on my 5 digit lines helped or not but they didn't hurt. I am very pleased for her and wanted to share the story.

Re: Crazy USAA Story

Anonymous — Sat, 09 Feb 2013 00:26:29 GMT

The Repo may be picked up in 6 months when USAA does its account review. People here have written they use companies other than EQ for review.

I've had USAA for a while and they've never soft-pulled EQ to monitor.

Re: Crazy USAA Story

flowfaster — Sat, 09 Feb 2013 00:28:17 GMT

So your saying they will take AA if they see it on an AR?

Re: Crazy USAA Story

Anonymous — Sat, 09 Feb 2013 00:31:40 GMT

It's entirely possible.

I've even read stories of them canceling an AU card due to (IIRC) student loan default.

They're actually pretty conservative, as a lender.

Also, the Ford repo may be properly reinserted. There's a process but if it's paid they might not bother.

Re: Crazy USAA Story

flowfaster — Sat, 09 Feb 2013 00:36:50 GMT

That's just crazy. Oh well, hopefully we will have success with TU and EX. There is no way we are paying for the ex husbands car. Would you?

Re: Crazy USAA Story

Anonymous — Sat, 09 Feb 2013 01:01:15 GMT

@flowfaster wrote:
That's just crazy. Oh well, hopefully we will have success with TU and EX. There is no way we are paying for the ex husbands car. Would you?

I ended up paying $6K+ off on a card DExW used to death. Was my own fault for making her an AU.

Did she co-sign?

Re: Crazy USAA Story

flowfaster — Sat, 09 Feb 2013 01:49:17 GMT

Yeah she was the co-signer. I really hope USAA doesn't take AA. I understand cutting the limit but this card will really help her score so I hope they don't close it.

Re: Crazy USAA Story

wallyworld123 — Sat, 09 Feb 2013 04:21:02 GMT

@flowfaster wrote:
Yeah she was the co-signer. I really hope USAA doesn't take AA. I understand cutting the limit but this card will really help her score so I hope they don't close it.

Congrats on the usaa approval i am happy for your DG but, please be careful if she did cosign legally she is responsible as well.

Re: Crazy USAA Story

Ron1 — Sat, 09 Feb 2013 04:30:22 GMT

Congrats!!!! USAA AR on my EXP and TU, NOT EQ.

Ron.

Re: Crazy USAA Story

Anonymous — Sat, 09 Feb 2013 13:54:14 GMT

The old saying "Curses are like chickens; they always come home to roost" is generally true. It's pretty difficult for some things to go away. If the SOL is expired and OP isn't in a community property state, there's probably no real liability. That being said, USAA is relatively conservative but I feel more forgiving than PenFed when it comes to utilization. Nothing at all may happen, especially if the other 3 bureaus get cleaned up over the next few months.

Re: Crazy USAA Story

CreditCrusader — Sat, 09 Feb 2013 14:09:04 GMT

@flowfaster wrote:
That's just crazy. Oh well, hopefully we will have success with TU and EX. There is no way we are paying for the ex husbands car. Would you?

I hate to be a wet blanket here, but there is ABSOLUTELY a way she is paying for that car if the SOL has not expired. When you cosign, you are financially responsible for the loan. Unless there was something in the divorce agreement stating otherwise, they will come after her for the balance owed...lawsuit..attaching bank accounts...garnishing...the works. If you like having a repo loan on your credit file, try a judgment. They don't come off for many, many years.

I'm not trying to scare you...just speaking from the errors of my youth. Auto lenders are ruthless when it comes to punishing those who burn them. Be careful how you proceed so as not to get ambushed.

Re: Crazy USAA Story

webhopper — Sat, 09 Feb 2013 15:56:50 GMT

I second credit crusaders comments. My ex had a vehicle that I consigned on and he stopped paying for it.

I took the stance that your DGF is taking. Judgment plus garnishment is no fun.

Eventually I changed jobs and settled the account before they knew where my new job was.

Re: Crazy USAA Story

Anonymous — Sat, 09 Feb 2013 16:07:05 GMT

A divorce decree wouldn't affect relationships with creditors. We see/read here (all too often) about cases where an Ex stopped paying or didn't comply with a divorce decree.

A judgment or garnishment would stink especially bad in a community property state.

Re: Crazy USAA Story

chasmith — Sat, 09 Feb 2013 16:31:34 GMT

Divorce decrees aren't binding on creditors. So any joint account, cosigned account, debt incurred in a community property situation can be held against one spouse even if the decree says the other is responsible. The only recourse is to sue the responsible spouse to enforce the decree, usually not going to work if the responsible spouse is broke, files BK, etc.

Re: Crazy USAA Story

flowfaster — Sat, 09 Feb 2013 17:15:43 GMT

Yes, we know she is responsible. How long do creditors usually wait until they sue? I have never had bad credit before so it's pretty new to us. thanks

Re: Crazy USAA Story

CreditCrusader — Sat, 09 Feb 2013 17:33:27 GMT

If it has already arrived on a credit report, you can bet she can be sued fir it. And with the exception of SOL guidelines, time is no object. They will sue you years after the fact.