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Goodbye USAA...

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Senior Contributor

Re: Goodbye USAA...

Thanks for answering my question. I understand your side in this matter. After reading your responce since your in the credit world. You didnt see any signs that would have caused the low SL? Just asking to learn. Not to push you in any matter. But the NFCU threads are like 10-1 to USAA on here. Thanks again.





My posts are JMHO. I DO NOT claim to be a FICO expert. Just sharing my experiences from rebuild to recovery after BK DC. My siggy is not to brag at all. Just to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 11 of 32
Moderator

Re: Goodbye USAA...

Hmmmm I guess with as much overall exposure as I have, I've never ran into a situation in which any insurance UW for various coverage types, citing... "Mr FinStar, the reason for the 'suckiest' rate provided was based on our actuary UW model which was the result of your...ummm Kohl's CC ($3K) - plus the others sprinkled in between - yes you may have high limits but that Kohl's gotta go. That's all." 😁

While I'm sure it's all profile-dependent, especially for a variety of insurance products, the measure of risk isn't really all tied to a just particular low SL.
Message 12 of 32
Community Leader
Super Contributor

Re: Goodbye USAA...


@Flex1 wrote:

@FireMedic1 wrote:

@Flex1 wrote:

Their SL can be absolutely ridiculous at times and I wish I wouldn't have wasted the hp.   I don't need multiple military financial institutions and Navy Fed has been a perfect fit, in every way possible. If they continue to impress me in the future, the way they have in the past and present, I can't wish for a better place to give my business to. Every financial institution I patronize moving forward has to make me feel like I'm recognized as an individual, valuable and treated as such. 


May I ask if you were with NFCU why did you go to USAA? I am not a member of either one. But from being on here. NFCU kinda spanks USAA. USAA let you join and gave you credit. You may not like the SL. But IMO its not a right to get a high SL, its a privilege. Its their money not yours. Like Pika said. They grow and you can grow with it. Simple.


I went with USAA and then NFCU shortly after. You're right, NFCU spanks USAA. Having said that, many people like/tolerate USAA for the insurance perks that many receive. SL may be priviledge. Maybe I'm a snob, but I have an personal opinion about low SL's. I don't keep them, although its rare that I do get a low SL. There are few here who canceled their USAA credit card for the same reason. And as well, there are many here who are happy to take whatever they get with a smile. Full disclosure...I'm not the later of the two. It was posted that low SL can have a negative impact on your insurance score. I live in Michigan and we pretty much pay the highest for insurance in the country. I have found that higher CL's attract higher 'CL's. That's been my experience. USAA was a stray cat. 

    I work in the financial sector. I see credit reports everyday. People don't always, automatically, get lowest rates. Sometimes they have to demand it, and of course they'll get it, as the businesses don't want to lose them. I see SL's the same way. If you have great credit you should get a nice SL, but that doesn't always happen. However, its up to the consumer to know where they stand and get what they deserve. If you have ok credit, you take what you can get. If you have great credit, you deserve the best and should be in the position to demand or take other options. 


In my Yoda voice "Much to learn, you have young Credit Skywalker".

You're not a snob, just inexperienced when it comes to how this credit thing works.

It would be nice if high SLs attracted high SLs all the time.

I can't remember exactly what my exposure was with USAA less the four years ago.

I think it was $7k. It took just over two years to grow that to $49k. Got that last $1k to make it an even $50k last summer. 😂

 

There are many and I mean many lenders. That won't come close to that kind of growth.

You're in for a heck of a lot of dissapointments and wasted HPs. If you expect the SLs of Navy Federal from most lenders.😉

Message 13 of 32
Regular Contributor

Re: Goodbye USAA...


@FireMedic1 wrote:

Thanks for answering my question. I understand your side in this matter. After reading your responce since your in the credit world. You didnt see any signs that would have caused the low SL? Just asking to learn. Not to push you in any matter. But the NFCU threads are like 10-1 to USAA on here. Thanks again.


You're welcome. No honest reason why my SL should have been low. Excellent credit and no debt at all. 

Message 14 of 32
Regular Contributor

Re: Goodbye USAA...


@Gmood1 wrote:

@Flex1 wrote:

@FireMedic1 wrote:

@Flex1 wrote:

Their SL can be absolutely ridiculous at times and I wish I wouldn't have wasted the hp.   I don't need multiple military financial institutions and Navy Fed has been a perfect fit, in every way possible. If they continue to impress me in the future, the way they have in the past and present, I can't wish for a better place to give my business to. Every financial institution I patronize moving forward has to make me feel like I'm recognized as an individual, valuable and treated as such. 


May I ask if you were with NFCU why did you go to USAA? I am not a member of either one. But from being on here. NFCU kinda spanks USAA. USAA let you join and gave you credit. You may not like the SL. But IMO its not a right to get a high SL, its a privilege. Its their money not yours. Like Pika said. They grow and you can grow with it. Simple.


I went with USAA and then NFCU shortly after. You're right, NFCU spanks USAA. Having said that, many people like/tolerate USAA for the insurance perks that many receive. SL may be priviledge. Maybe I'm a snob, but I have an personal opinion about low SL's. I don't keep them, although its rare that I do get a low SL. There are few here who canceled their USAA credit card for the same reason. And as well, there are many here who are happy to take whatever they get with a smile. Full disclosure...I'm not the later of the two. It was posted that low SL can have a negative impact on your insurance score. I live in Michigan and we pretty much pay the highest for insurance in the country. I have found that higher CL's attract higher 'CL's. That's been my experience. USAA was a stray cat. 

    I work in the financial sector. I see credit reports everyday. People don't always, automatically, get lowest rates. Sometimes they have to demand it, and of course they'll get it, as the businesses don't want to lose them. I see SL's the same way. If you have great credit you should get a nice SL, but that doesn't always happen. However, its up to the consumer to know where they stand and get what they deserve. If you have ok credit, you take what you can get. If you have great credit, you deserve the best and should be in the position to demand or take other options. 


In my Yoda voice "Much to learn, you have young Credit Skywalker".

You're not a snob, just inexperienced when it comes to how this credit thing works.

It would be nice if high SLs attracted high SLs all the time.

I can't remember exactly what my exposure was with USAA less the four years ago.

I think it was $7k. It took just over two years to grow that to $49k. Got that last $1k to make it an even $50k last summer. 😂

 

There are many and I mean many lenders. That won't come close to that kind of growth.

You're in for a heck of a lot of dissapointments and wasted HPs. If you expect the SLs of Navy Federal from most lenders.😉


I haven't had any dissapointments at all, except for USAA and Barclays, many years ago. My SL's typically are what I would expect. My fico's are in the 800's. I don't think I'm exactly doing anything wrong or need to worry  much that I don't know. I don't know it all. I'm still learning. However, I'm in a great place too. I have exceptional disclipline. No more than 3 hp's on each bureau. That's  my rule and I'm sticking to it. So I won't be wasting any hp's.

Message 15 of 32
Community Leader
Super Contributor

Re: Goodbye USAA...

You make the mistake many make here. They assume 800 scores will get them what they want. As some assume their high income will do the same. Your scores/ income are a small part of the equation. I'm almost certain several times today. Other USAA members with scores below 700, were given a SL higher than yours. Scores aren't the absolute. It would be so easy if they were.

Inqs don't have much bearing either.
Yeah I know, it's totally opposite of what is preached.
Message 16 of 32
Contributor

Re: Goodbye USAA...


@Gmood1 wrote:
You make the mistake many make here. They assume 800 scores will get them what they want. As some assume their high income will do the same. Your scores/ income are a small part of the equation. I'm almost certain several times today. Other USAA members with scores below 700, were given a SL higher than yours. Scores aren't the absolute. It would be so easy if they were.

Inqs don't have much bearing either.
Yeah I know, it's totally opposite of what is preached.

I concur with your statement.  As a USAA member, I can relate to the small SL when I began my credit journey.  I think it was $500.  However, every six months I would get a increase( HP not withstanding) and now my SL are 12,000 and 6000. I tend to favor military affliated institutions because of the relationship with their customers. Although I have heard of NFCU and Penfed can be harsh with some members, USAA has a great reputation and will do almost anything to accommodate the customers. I’ve experienced this first hand. One last caveat for the OP. Be aware of what KIND of cc you’re getting instead of the SL. The USAA Amex Cashback rewards card gives 5% back on gas and on post purchases. One if not the most valuable cc we have. Between DW and I we spend around $300 a month on gas. You do the math😀  


Navy Amex 20k
Navy Cash Rewards 20k
Navy Platinum 15k
Discover It 16k
Citibank Preferred 11k
Penfed 17k
USAA 101st Airborne 6k
USAA Amex Rewards 2k
AmEx BCE 1k
Uber VISA 8k
Ducks Unlimited VISA 4K
Amex Platinum
Amex Gold
Message 17 of 32
Regular Contributor

Re: Goodbye USAA...

My experience with USAA has been pretty good. They have the Best car Ins. rates in the country,
I've had their Limitless Visa for 18 mo. that started at 5K and after 10 mo. I applied for a CLI over the phone
and got approved for 13K, my best CLI ever. But, their Auto Financing rates can't compare to NFCU. 
I say keep them both. You can't lose.

 

IMG_1040.jpg





Message 18 of 32
Valued Contributor

Re: Goodbye USAA...


@3se7ens wrote:

My experience with USAA has been pretty good. They have the Best car Ins. rates in the country,
I've had their Limitless Visa for 18 mo. that started at 5K and after 10 mo. I applied for a CLI over the phone
and got approved for 13K, my best CLI ever. But, their Auto Financing rates can't compare to NFCU. 
I say keep them both. You can't lose.


Put down the pipe bro Smiley Very Happy

 FICO 8
Message 19 of 32
Regular Contributor

Re: Goodbye USAA...


@Overmedicated wrote:

@3se7ens wrote:

My experience with USAA has been pretty good. They have the Best car Ins. rates in the country,
I've had their Limitless Visa for 18 mo. that started at 5K and after 10 mo. I applied for a CLI over the phone
and got approved for 13K, my best CLI ever. But, their Auto Financing rates can't compare to NFCU. 
I say keep them both. You can't lose.


Put down the pipe bro Smiley Very Happy


Smiley Wink

 

IMG_1040.jpg





Message 20 of 32
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