USAA Rewards CC Denial

RJCE · ‎08-04-2017

I applied for the USAA Rewards credit card this morning. I received the 7-10 days letter thing meaning I was denied. My EQ FICO score is 775. I know they pull EQ. The only thing I can think of why they denied me is that I have 5 inquires. Of the 5, four are from over a year ago (2 in Feb 2016) & (2 in Aug 2016). Maybe short credit credit history. My AAOA is 2 1/2 years. Oddly enough I was just approved for the Veture Card two weeks ago.

Anonymous · ‎08-04-2017

Sorry to hear about the denial. I suggest you wait for the denial letter and see what the reason is, plan a course of action and then give them a call to see if they will rescind the decision. Should you do that, update the thread...

Gmood1 · ‎08-04-2017

Sorry for your denial. None of those should have been a factor. I've had 18 or 19 inqs on average when apping for a card or CLI with USAA. My AAoA is less than yours and my EQ FICO 8 score is lower than yours. I've never been denied by them. Something doesn't seem right. As suggested wait for letter and find out what's going on. Hopefully it's a mistake on their part.

AverageJoesCredit · ‎08-05-2017

Sounds to me like a good profile. Like stated wait for the letter to see why they denied. Itll be interesting the reason for dure.

RJCE · ‎08-10-2017

Received my denial letter. I was right about AAOA and too many inquiries. But I guess the big deal is there's a $30 paid collection from 2013 (didn't even know about it until it showed up on credit reports). Also, Equifax uses FICO score 5 model instead of the 8 model. My FICO 5 score is only 701. Guess I'll have to wait for the paid collection to fall off. USAA seems to be the only bank holding this against me.

Gmood1 · ‎08-10-2017

@RJCE wrote:
Received my denial letter. I was right about AAOA and too many inquiries. But I guess the big deal is there's a $30 paid collection from 2013 (didn't even know about it until it showed up on credit reports). Also, Equifax uses FICO score 5 model instead of the 8 model. My FICO 5 score is only 701. Guess I'll have to wait for the paid collection to fall off. USAA seems to be the only bank holding this against me.

Yup the $30 paid collection is the culprit. Your Inqs and AAoA were never the issue. They always list those reasons on the denials or approvals. It's just standard wording on most lenders adverse notices. I knew they were picky. Didn't realize they were that picky.

Anonymous · ‎08-10-2017

@Gmood1 wrote:
@RJCE wrote:
Received my denial letter. I was right about AAOA and too many inquiries. But I guess the big deal is there's a $30 paid collection from 2013 (didn't even know about it until it showed up on credit reports). Also, Equifax uses FICO score 5 model instead of the 8 model. My FICO 5 score is only 701. Guess I'll have to wait for the paid collection to fall off. USAA seems to be the only bank holding this against me.
Yup the $30 paid collection is the culprit. Your Inqs and AAoA were never the issue. They always list those reasons on the denials or approvals. It's just standard wording on most lenders adverse notices. I knew they were picky. Didn't realize they were that picky.

I highly doubt a 4 year old 30 dollar paid collection is the reason for the denial.

Gmood1 · ‎08-10-2017

@Anonymous wrote:
@Gmood1 wrote:
@RJCE wrote:
Received my denial letter. I was right about AAOA and too many inquiries. But I guess the big deal is there's a $30 paid collection from 2013 (didn't even know about it until it showed up on credit reports). Also, Equifax uses FICO score 5 model instead of the 8 model. My FICO 5 score is only 701. Guess I'll have to wait for the paid collection to fall off. USAA seems to be the only bank holding this against me.
Yup the $30 paid collection is the culprit. Your Inqs and AAoA were never the issue. They always list those reasons on the denials or approvals. It's just standard wording on most lenders adverse notices. I knew they were picky. Didn't realize they were that picky.
I highly doubt a 4 year old 30 dollar paid collection is the reason for the denial.

What else could it be? 1 inq within a year? That doesn't make any sense. The collection is the only thing reporting negative on the file. 2 years AAoA definetly isn't it. Step daughter got a USAA card with 6 months of AU history reporting. She had zero of her own credit history when she applied.

Anonymous · ‎08-10-2017

@Gmood1 wrote:
@Anonymous wrote:
@Gmood1 wrote:
@RJCE wrote:
Received my denial letter. I was right about AAOA and too many inquiries. But I guess the big deal is there's a $30 paid collection from 2013 (didn't even know about it until it showed up on credit reports). Also, Equifax uses FICO score 5 model instead of the 8 model. My FICO 5 score is only 701. Guess I'll have to wait for the paid collection to fall off. USAA seems to be the only bank holding this against me.
Yup the $30 paid collection is the culprit. Your Inqs and AAoA were never the issue. They always list those reasons on the denials or approvals. It's just standard wording on most lenders adverse notices. I knew they were picky. Didn't realize they were that picky.
I highly doubt a 4 year old 30 dollar paid collection is the reason for the denial.

What else could it be? 1 inq within a year? That doesn't make any sense. The collection is the only thing reporting negative on the file. 2 years AAoA definetly isn't it. Step daughter got a USAA card with 6 months of AU history reporting. She had zero of her own credit history when she applied.

Could be low income. High Utilization. High debt to income. Renter with short history at current location. Who knows it could be tons of things.. Back before my downfall l I had a 100 dollar unsettled collection on my credit report for years. It affected me 0 percent. USAA gave me auto loan after auto loan at their lowest rate, motorcycle loan, second mortgage. Credit card with 16k limit at very low interest.

Gmood1 · ‎08-10-2017

@Anonymous wrote:
@Gmood1 wrote:
@Anonymous wrote:
@Gmood1 wrote:
@RJCE wrote:
Received my denial letter. I was right about AAOA and too many inquiries. But I guess the big deal is there's a $30 paid collection from 2013 (didn't even know about it until it showed up on credit reports). Also, Equifax uses FICO score 5 model instead of the 8 model. My FICO 5 score is only 701. Guess I'll have to wait for the paid collection to fall off. USAA seems to be the only bank holding this against me.
Yup the $30 paid collection is the culprit. Your Inqs and AAoA were never the issue. They always list those reasons on the denials or approvals. It's just standard wording on most lenders adverse notices. I knew they were picky. Didn't realize they were that picky.
I highly doubt a 4 year old 30 dollar paid collection is the reason for the denial.

What else could it be? 1 inq within a year? That doesn't make any sense. The collection is the only thing reporting negative on the file. 2 years AAoA definetly isn't it. Step daughter got a USAA card with 6 months of AU history reporting. She had zero of her own credit history when she applied.
Could be low income. High Utilization. High debt to income. Renter with short history at current location. Who knows it could be tons of things.. Back before my downfall l I had a 100 dollar unsettled collection on my credit report for years. It affected me 0 percent. USAA gave me auto loan after auto loan at their lowest rate, motorcycle loan, second mortgage. Credit card with 16k limit at very low interest.

This is the second member I've seen post recently they were denied by USAA with a collection reporting. USAA may be tightening up a bit.

Yeah, I had a $100,000 plus default reporting on my EQ and TU when I got my first card with USAA two years ago. That's why I'm scratching my head at some of these denials. The default was with Citi and they even gave me a CC around the same time. Lol

I don't get it.