USAA CLI?

[bcdudley]

 I have been a USAA member since Apr' 2010.I have had my USAA credit card since Dec' 2010. When I apped for it, I got the lower one with the $1000 limit. They told me to try back later for the better world card. I am closing on a new house in about 3 weeks and I would like to request a cli or the world card immediately afterwards. We will be needing some new appliances like a refrigerator, washer and dryer as well as lawn stuff like a mower and weedeater, as soon as we move.

I have a perfect record with my USAA card and my other 2 credit cards also look great also. My credit scores are all around 650 -660, but they should be going up significantly in the next few days. I lowered my utilization on all 3 cards from 80% down to 10% for the last reporting period.

I do still have 3 negative accounts and 3 collections, but they are all 5+ years old except 1 which is 4 years old.

My other 2 cards are a $500 Capital One and a $1000 U.S. Bank secured card which are both around 10 months old.

I also have on my CR a Wells Fargo secured card for $1300 that was closed 10 months ago and opened 3 years ago. It also has a perfect payment history on it.

Thanks.

[unlucky_hove]

I think you are asking what are your chances for a CLI with USAA? If so.....Its hard to say, you should call them and talk to CSR. If not then please clarify.

[bcdudley]

Yes, that is what I am asking. Sorry it was not clear. Just wondering what others experiences are with them that are in similiar situations as mine.

[eparker]

You are probably gonna have to wait a year.  I have a Master card with USAA.  LImit is $1500.  I apped for the Amex several onths later but was denied.  They offered a secured Amex, and I took that one just to get the card and build a history with them.  I have one collection remaining on my Equifax report, thats the CR they pull.

On a good note, my wife apped with USAA for an Amex.  She ha sno collections all of her tradelines are good also.  They gave her a $7000. limit.  I would try and get the collections off first.  They told me to wait a year on the Mastercard as well and app for another card. 

Good Luck...

[unlucky_hove]

USAA is very easy to deal with as you already know. It would seem to me that since you have a year (well almost a year)of good payment history with them that you would be granted the increase. I have the secured Amex with them and was told that after six months of good payment history that i may be eligible for an unsecured one. Since you are established you should be ok for a CLI, but only they can tell you that.

[Anonymous]

Is there a diffrence between accounts listed as "collections" and accounts listed as "charge off" ?

For example.....on my credit report I have one "Collection" which is from a cell phone bill of $27. I also have 3 "charge offs" from old credit card accounts which are all I belive 4+ years old.

If so...which one is worse?

[unlucky_hove]

---

@Anonymous wrote:

Is there a diffrence between accounts listed as "collections" and accounts listed as "charge off" ?

For example.....on my credit report I have one "Collection" which is from a cell phone bill of $27. I also have 3 "charge offs" from old credit card accounts which are all I belive 4+ years old.

If so...which one is worse?

---

I guess its hijack thread time lol.....there is a difference between the two, but both are serious deliquncies. A charge off is definately worse for several reasons. The main reason is for an account to be charge off it had to fall six months behind, therefore you have several negative marks associated with it (30, 60, 90, 120 day lates). Also, the charge off is generally followed by a collection appearing for the same account. If left unpaid you could also end up being sued, which means you will now have a judgement showing (depends on several factors). In your case, with four charge-offs you are seriously lucky a collection agency hasnt picked them up yet, and its still not too late for them to grab those accounts. If you want to learn more post this question in the rebuiling question forum or just browse around there you will learn alot!

[Anonymous]

Sorry...I was certainly not trying to hijack anyone's thread.

I guess I just thought my questions pertained to the discussion taking place. Please don't put me in timeout. I'll be good..I swear. lol

[bcdudley]

Thanks for the response. I was hoping that I would be eligible by the time I close. If not, no big deal, I will find other ways to get what I need. I just figured that with a score increase of almost 75 points, maybe I would be. I will call them in a few weeks and find out I guess.

Thanks.

[Anonymous]

i have been with USAA since 1998. i have amex unsecured at i think 2500 and visa plat unsecured at 1900 both at 9.9%. i have a collections on the record from 2005 when my workmans comp dropped me through the cracks and didnt pay the medical bill until 6 months after the fact. anyways, i have perfect payment on my usaa cards and apped for some card that they offered me about a year or so ago and i was denied. my experience with them...they do not like negative or collections on CR.

i just paid off all my CC within the last 2 weeks and i got 2 offers from them - 50k car note at 5% and 125k home equity loan, dont recall rates for it. i dont need either so i didnt accept.

i would call CSR as suggested to see what they want in an applicant as far as credit goes. my score has gone from 655 to 687 in the last two weeks, i want to say i was in the 620's when i apped a year ago.

good luck.