topic Re: Unintentional USAA... in Credit Cards

Unintentional USAA...

Anonymous — Wed, 09 Apr 2008 13:31:10 GMT

I called USAA yesterday. (We finally got around to adding me to my husband's account, only to find out that I was already a member by way of my Mommy Dearest... Weird.) I was looking for a small business loan for a box trailer and pavilion and maybe that industrial strength sewing machine I've had my eye on- well, they don't do small business loans, and couldn't finagle the trailer as a secured loan. We talked about personal loans briefly, but then the nice lady mentioned that the rates on a USAA credit card were lower than the personal loans...

I had no intention of applying for any more CC's for me. Maybe one for the husband, as he needs to build history, and doesn't have any major cards other than being AU on mine.

But with the loan not a viable option, and the card being a rate as low as 6.something %, what did I have to lose other than an inquiry?

10k limit, right out of the gate. She didn't ask what limit I wanted, no haggling, nothing. The interest rate isn't what I hoped (11%), but I think the util. improvement (from 46% overall to 36%, and that's before applying the tax rebate/refund) will help my scores enough that I can ask for a better rate in a few months. I'm at 696 currently, with util. being the biggest bad.

So, beware when you're talking to banks! You might wind up with yet another credit card!

Re: Unintentional USAA...

Anonymous — Wed, 09 Apr 2008 13:39:47 GMT

Congrats and in about six months call request a APR reduction...I wouldn't do it before then thought. Again, congrats and good luck!

Re: Unintentional USAA...

haulingthescoreup — Wed, 09 Apr 2008 14:17:06 GMT

Congrats! Did you find out how long you've been a member, without knowing? A lot of the goodies you'll get offered come from length of membership, so it's useful to find that out.

Once you set up your on-line account, keep an eye out for the "My Offers" tab, although they'll also add a banner when they're waving some goodies at you.

Re: Unintentional USAA...

Anonymous — Wed, 09 Apr 2008 14:47:02 GMT

Congrats MsMs! Great opening cl!

Re: Unintentional USAA...

Anonymous — Wed, 09 Apr 2008 14:54:30 GMT

Thanks!

I figured I'd give it 3-6 months at least before asking for a better rate, to give the scores time to update, and to recover from refinancing the truck loan (with USAA). We haven't done it yet, we want to get our CC balances down first with the tax refund.

I'm not sure how long I've been a member, though it's probably been 10 years or so... I haven't talked to Mommy Dearest in about that long- so it would have had to be prior to that. Could I have been signed up as a minor?

-MsMS

Re: Unintentional USAA...

haulingthescoreup — Wed, 09 Apr 2008 15:04:29 GMT

If she had her auto insurance with them when you were a teen driver, that might have done it. You can call USAA back and ask them. It's handy info to have.

Re: Unintentional USAA...

Anonymous — Wed, 09 Apr 2008 15:47:18 GMT

Congratulations! My mom goes on and on and on about the USAA MC. That's the only card she uses and swears by it. I'm going to apply for it end of this year or next year, whenever my utilization goes down and my score goes up.

Re: Unintentional USAA...

Anonymous — Wed, 09 Apr 2008 15:55:32 GMT

Lyssa, keep that card at the very tip top of your list of cards to get! Please don't let an opportunity slip through your fingers.

I could just kick my DH for not joining when he had the chance. Now I'm afraid he's(and me) are not eligible.

Re: Unintentional USAA...

Anonymous — Wed, 09 Apr 2008 19:09:39 GMT

You might still be eligible... it's worth a try at least! I didn't think I would be eligible (other than through my husband, whose stepdad is retired military)- but apparently Granddad was a member (retired military), Mommy Dearest got it through him, and then she signed me up. All sorts of ways to get in...

-MsMS

Re: Unintentional USAA...

Anonymous — Wed, 09 Apr 2008 20:41:28 GMT

Ok so I kinda messed up...but maybe not...I called USAA and asked if I could get a membership based on the fact that my soon-to-be exhusband is a member...guess I should not have told them that part...But...I wanted to make sure I would not be associated with anything he has going on with them...especially since I am just waiting on a court date to get rid of this person I haven't seen in over a year and a half that has totally tore slam up credit....recent repoed car....yucky...they told me no...oh well...

Re: Unintentional USAA...

Anonymous — Wed, 09 Apr 2008 21:33:00 GMT

Yeah---"all kinds of ways to get in"...I became a member through my step-mom, who became a member 30 years ago through her former marriage with her ex-husband...I know, I know I feel kind-of bad...but hey, I'm loyal customer.

Re: Unintentional USAA...

Anonymous — Wed, 09 Apr 2008 21:51:56 GMT

Congratulations MsMS!

It's always a great feeling to work with people who underpromise

and overdeliver. USAA's customer service is legendary and I'm

glad everything worked out for you and your family.

Question: Which credit report did they pull for your 10k CC approval?

I went to wgmc.com and pulled up USAA. Some folks had TU pulled,

others had EQ pulled and even 1 person had all 3 reports pulled.

So if you'd be kind enough to let us know which one they pulled for you,

we'd really appreciate it.

Once again, major congrats!!!!

"The right attitude is everything"

Re: Unintentional USAA...

Anonymous — Wed, 09 Apr 2008 21:54:15 GMT

Yes the mantra at USAA is "once a member, always a member" so what you did through your mother works. If you have a chance to be a USAA member, jump on that eligibility. I do want to correct a common misconception, though. You dont have to be a member to utilize any of their banking products. In fact, the only USAA products non-members can't enjoy is the insurance (which is a pretty big loss). Bank products, though, you are welcome to.

Re: Unintentional USAA...

Anonymous — Wed, 09 Apr 2008 22:16:03 GMT

Hi Drachen,

Thanks for clearing that up - greatly appreciated.

And if I may add, USAA is actually a savings and loan. This is

why anyone is welcome to apply for any of their banking products.

But since there is a membership component to USAA, a lot of

people assume that they're a credit union. They are not, so in

that respect you don't need to "join" to apply for a credit card,

for example. I've learned from others in this forum that a FICO

of at least 650 gets you serious consideration for a CC. I'm just

not sure which report(s) they pull...

But if you do find out that you're eligible for membership, their

insurance products are fantastic. I'm a retired government civilian

and lots of my friends are USAA members. They get solicitations about

insurance all the time via email or phone, but as soon as these

companies find out they're USAA members the conversation comes to a

screeching halt.

Thanks again for the clarification, Drachen. I imagine that USAA's phones

will be ringing off the hook now. Cheers!

"The right attitude is everything"

Re: Unintentional USAA...

Anonymous — Wed, 09 Apr 2008 22:57:53 GMT

Sylviatob wrote:
Lyssa, keep that card at the very tip top of your list of cards to get! Please don't let an opportunity slip through your fingers.

Thanks, Sylvia, advice well taken! I fully intend on getting this card, it's the last card on my list. I've heard too many good things about USAA to not get it.

Plus my mom is harping on me, encouraging me to get it, and get rid of all my others. While I don't intend on getting rid of my other cards, I do want USAA to be my main card I use

Re: Unintentional USAA...

Anonymous — Wed, 09 Apr 2008 23:25:22 GMT

I beleive two - three months USAA stopped allowing non-USAA members to use their banking products....hmmm...I could be wrong.

Re: Unintentional USAA...

Anonymous — Thu, 10 Apr 2008 02:49:57 GMT

OOhhhhhhhhhhhh pj, how could you?

After CanDo gave me a glimmer of hope you come and say that. Defeat clutched from the hands of victory. (just kidding!)

Well, you do know how we love a diversity of opinion.

sok. Life is good.

Re: Unintentional USAA...

Anonymous — Thu, 10 Apr 2008 04:12:20 GMT

Sorry Sylvia- I can adopt you if you like? j/k...maybe app for a job with the Feds? (But is it worth it? -- I can say that since I am one, lol!

Sorry to spoil the fun...

Re: Unintentional USAA...

Anonymous — Thu, 10 Apr 2008 12:22:48 GMT

How long does it usually take for an inquiry to show up? I have ScoreWatch, so the only CR I monitor on an obsessive basis is EQ. I was planning to do my next 3-way pull in early-mid May, to see how the paydown affects my scores (hopefully affecting both DH's and mine enough for good rates on the truck refinance).

That's good to hear that USAA has really good customer service- I got a homeowner's quote, but that and the credit card are the only interactions I've had with them so far.

-MsMS

Re: Unintentional USAA...

Anonymous — Thu, 10 Apr 2008 13:08:33 GMT

Good Morning MsMS,

Thanks for sharing your experience with the USAA cc

with us. We really appreciate it.

To answer your inquiry question, it's been my experience

that they show up within 24 hours after the lender pulls

your report. So if you apply today and someone does a

hard pull, it should show up tomorrow.

I also have ScoreWatch. When the system is working properly,

you'll get an email alert on the same day the inquiry hits your

Equifax report. Sometimes it's a little show, but most of the time

it works as designed. But I'd say within 24-48 hours is pretty standard.

Which reminds me: which report did USAA pull on you for the cc?

Congrats again on your success. Enjoy the day!

"The right attitude is everything"