USAA AmEx - added to the list of RATE JACKERS!!!

[Anonymous]

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@deskjockey101 wrote:

I NEVER  got a letter, nor has one shown up on my internal USAA banking page...

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The first report of this new interest rate increase that I read was from someone who received a letter on December 10. My letter didn't arrive until December 22. The "letter" is about the size of a business envelope, but it's a sheet of paper folded in on itself 3 times. Above the address are the words "Important Changes to Credit Card Terms Enclosed"

Perhaps USAA's computers are programmed to send out the letters x-number of days after the end of someone's billing cycle ?

I only log in to USAA's website about once a month, so I don't know if USAA has been informing people of this rate change online. But so far no one else on other sites has reported being informed by a means other than by mail.

Message Edited by MojaveMoon on 12-24-2008 10:15 AM

[Anonymous]

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@deskjockey101 wrote:

I'm just going to pay this card off and sock drawer it

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Be careful. I have no idea if USAA would ever close an account for inactivity. But I'm seeing more reports of other banks closing accounts for inactivity. On two other sites it's being reported that Capital One is the latest company to close accounts for this reason. One customer was told that Capital One is closing 1.5 million accounts with >6mo no activity.

Also, here's another reason that it'd be worthwhile to keep the credit card open. The checking account has a feature called deposit at home where you can deposit checks and money orders into your checking account by scanning them at home. You apparently need to have at least a credit card account in addition to the checking account in order to be allowed to use this deposit at home feature.

Message Edited by MojaveMoon on 12-24-2008 10:40 AM

[Anonymous]

No RJ thus far.

[Anonymous]

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@rubaty wrote:

When did everybody receive this letter? 

I haven't received one and my APR was just lowered as of my 20 Dec statement to 5.75% on my AMEX & MC.

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I believed I received my letter about 4 days ago. It was only referencing my MC. The CSR said my Amex was too new and it may not be affected just yet. But, just how many post have we read here on this forum where one CSR will say one thing and if you call back another CSR will give a totally different answer?

Personally I am not carrying a balance on my MC, so I don't really care.

Sorry that you didn't get the pamphlet in the mail OP. Maybe you just haven't received it yet?  IMO, the APR increase is not that major to me and I said I wouldn't mind paying it, if I did have to revolve a balance.

OP- Are you military associated or do you qualify by living in the county they are located in?

[Anonymous]

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@Anonymous wrote:
No RJ thus far.

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My letter states it takes affect Feb 1, 2009.

[deskjockey101]

i finally got the letter... 

so now this happens:

http://www.mysanantonio.com/business/USAA_rewards_employees_with_135_bonus.html

i guess that's where my 8.9 rate to 11.9 rate is going?  not really sure..

after all this, i still love USAA, but this doesn't seem right.. oh, well.. there's nothing i can do about it.. 

[Anonymous]

No letter to date about any increase in my APR.

[deskjockey101]

maybe i should save it to photobucket and paste a link here..

[Anonymous]

I have very little doubt customers are being repriced.  Thus far, I have not.