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USAA secured CC?


USAA secured CC?

When my chapter 7 is completed. Should I qualify for a secured CC from USAA since I have auto and home insurance through them? Does anyone know if they report secured CC as normal CC?

Message 1 of 4
Frequent Contributor

Re: USAA secured CC?

I think, given you are an existing member, you should qualify. I have auto with them and when I applied for the secured card they didn't even hard pull my credit. It took nearly 3 weeks to actually receive the card though. They are very slow on that end.

They do report as secured, but that means nothing scorewise and the card looks exactly like their unsecured counterparts.

Just keep in mind, unlike those from other lenders, their secured card will never graduate to unsecured and they offer no rewards. You can, however, increase the credit line whenever you wish by adding more money to the CD. The CD is a 2 year term - the penalty for cancelling before then is minor, and the variable rate interest accrued and added to your CD balance isn't much to brag about. They also charge a $35 annual fee - so that's something you may want to consider.

Even though I've since gathered a few unsecured prime cards, I still have my USAA secured with the original $500 - I added my nephew as an AU on it to get him started with managing credit. So far, so good. Figure I'll hang on to it for another year.
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Message 2 of 4
Valued Contributor

Re: USAA secured CC?

I think you should NOT get a secured card from USAA they are pretty bad. Get one from NFCU or a local CU. The NFCU one has no AF and you earn rewards. The USAA one has an AF and you do not earn rewards. The NFCU card will convert to a regular card down the line, the USAA will not. 

Message 3 of 4
Community Leader
Super Contributor

Re: USAA secured CC?

Definitely agree with Tydawg on this one.
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