USAA 2.5% Targeted Offer [UPDATE MARCH 2017]

[credit_is_crack]

Looks like they just added their next batch of states ... FLORIDA FINALLY!! Below are the states listed as of this morning when I logged into USAA.com

[Anonymous]

Is there a backdoor/recon number for USAA? My mouth has been watering over this card. I just applied for the Limitless and was declined. WTH USAA!! I received the following reason for denial "excessie obligations in relation to income". I have a six-figure income, 0% utlization (literally nothing report a balance), perfectly clean report, lots of new accounts, and signficant student loan debt (but payment is not "excessive"). Maintain 800+ credit score. I don't have excessive debt by ANY means. Maybe I hit my interal limit with them? I have a USAA Visa w/ a $24k credit line (never use it). I consistently receive pre-approvals from USAA... I'm not happy! Seriously!!

I used my FL address and had no problem applying.

[Aduke1122]

Sorry to hear of this bad news Ah20003 that really is mind boggling to say the least , I would call and ask to be put up the chain of command, I'm not sure of a back door number as I have heard they don't do recons at all, good luck keep us posted .

[Anonymous]

I think I'm nearing the end of my relationship w/ USAA. I just called and spoke with a rep and the "excutive relationship" department. They refused to provide any further details and countless times referred me to dispute my credit report with Experian. What to dispute? I guess my $0 balances and good/great FICO scores. It was the most frustrating and wasetful call of my life. They wouldn't transfer my credit line from my existing card and told me that no bank can do that (yea, ok...). I asked if I reduced my credit line ($24k) on current account if that would help with another app. Their response was "that won't help until you dispute or fix things on your credit report ... until then we can offer you a secured card." Literally, speechless. Honeslty, this card is great, but I can get 2.25% back on travel with my Freedom Unlimited/CSR and 2% back w/ Citi DC.. Not worth it for a few more bucks.

I've had my USAA card since 08' (Active Duty) and have a 7.5% fixed interest rate... It's my oldest open account. Gosh, as much as I wanted to close all my accounts I guess I'll keep it my sock drawer in case of an emergency.

Sorry for the rant! I know it's not the right forum. Good luck to anyone who tries to recon w/ USAA.. They seem to stick w/ their automated underwriting system under all circumstances.  

[Aduke1122]

Omg I would be floored , I wonder if there is some mix up with your app and credit reports? I can't see them offering you a secured card , when you have had 24k available CL for years that's NUTS

[Anonymous]

Are there any data points on this card since it has been available? Just wondering in regards to credit score, who they pulled or denial reasons? Thanks

[Anonymous]

ah20003 your situation is unreal ... as you already know this does not make sense. Something I used to do is write an old fashion letter and send them to the CEO of the company (not electronic versions - too easy for others to loose). Send your letter "Certified Mail" with signatures. Yes, this is a lot of bother but,I have found almost 100% favorable results from such an approach. After all you are one of us who served our country so why the shabby treatment???

[UncleB]

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@Anonymous wrote:
ah20003 your situation is unreal ... as you already know this does not make sense. Something I used to do is write an old fashion letter and send them to the CEO of the company (not electronic versions - too easy for others to loose). Send your letter "Certified Mail" with signatures. Yes, this is a lot of bother but,I have found almost 100% favorable results from such an approach. After all you are one of us who served our country so why the shabby treatment???

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+1

Even though you know there should be no problem with your credit report, go through the motions of checking anyway (if you haven't already) and send a paper copy with your snail-mail letter.  Also be sure to be polite but direct in detailing your conversations with the CSR(s), including the suggestion to request your credit report (which you will have done and will include a copy as proof).

'Back in the day' this worked for me a couple of times when I was denied for bogus ID reasons (confusing me with my father).  I found that if you overcome all their objections up-front you usually have the best chance of getting resolution.

I'm sorry you've having to deal with this, and I understand your frustration.  Hopefully you'll get positive results soon... let us know how it goes! 

[Anonymous]

I'm done w/ USAA. I closed all my accounts yesterday. I sent a scathing email to Staurt Parker (USAA CEO) last night. I may file a complaint w/ FTC and CFPB if I don't receive a response from Mr. Parker's office. Regulation B of the Equal Credit Opportunity Act requires a lender to explain, in detail, the reasons for denial. Pointing a consumer towards the credit scoring company is not sufficient and does not relieve liability under ECOA. USAA owes me a specific explanation of their adverse action. It could be that I hit my internal limit w/ USAA, that I have too much availble but unused credit, or that USAA is afraid of my federal student loan balances. I have no clue.    

At any rate, I'm OK with losing $50 a year in cashback for the card. I generally don't USAA as NFCU and Penfed have always beat their rates/customer service for lending. Their insurance rates are always high for me. Citi and Chase have a similar earning structure on their cards. I've been looking forward to this card for months and talking it up to all my friends and co-workers. It's a really disappointing end and leaves a sour taste in my mouth. The most useful part of my USAA membership was waiver of the underage driver fee w/ their codes ... now that I'm older that doesn't matter. I don't need USAA.

I'm not going to push a reconsideration w/ USAA any further. However, I want a specific reason for the denial. I have zero desire to ever have their products again.

[Anonymous]

This came up fo me today, so I applied and was approved at 17.40% with a $25K limit.

My scores are in the low 800s, I have a 6 figure income, they pulled Experian.

I won't ever carry a balance, but I am miffed by the rate. My other card with them is single digits.

I called to discuss and it was a similar experience to ah20003 telling me to look at my Experian Report.

They've done some other dumb stuff with me lately, worth of a thread of its own.

I do know that USAA practices "optimizing" in states where it is legal and since I have been with them 30 years and always taken what they give me, I'm sure they optimize the heck out of me.