USAA ...DECLINED???

[kay82]

Well I got the urge to apply for a USAA MC and you guessed it a big fat DECLINED.. I did it via phone app with a rep, and specifically asked her what were the minimum scores needed she told me 560 + so I got extremely happy having just pulled My Fico  EQ and it was  630 then I get declined what the H ***.....Im upset about the misleading qualifying scores and more so that I wasted an inquiry..this ever happened to anyone else??

[haulingthescoreup]

Sorry to hear that! What else is going on with your reports that results in the 630 score?

Almost every lender uses a combination of score and report history to decide whether to extend credit.

[kay82]

Oh Im so glad you replied.. you seem to be the USAA guru lol !!! Well I have no open collections on EQ but 3 paid collections  and 3 CO's, but am in the rebuilding/cleaning up stage and just had a nice increase due to a new CC reporting 

Im not sure what happened 

[haulingthescoreup]

I'm really pretty ignorant of what it takes to get in with them, because my angle is my 28-or-something-year history. But if they were going to tell you a minimum score, they should have added something like, But that also depends on what else is going on with your reports.

Do you have any banking or insurance or investment business with them? They reward longevity, but they also reward those who do lots of business with them.

[jmbfl]

CO's reporting is probably the culprit sorry to say. Resolved or unresolved CO's are baddies.

[kay82]

Well I have 3 insurance policies in good standing with them and have maintained them in good standing for 10 years thats why Im so confused after researching the threads in regards to this before applying I noticed a few people reference the account history with them so I figured Id have a pretty good leg to stand on having done business with them for so long, however I did ask the CSR if it made a difference as to whether or not I did banking with them and she said NO but to check my offers and see if there were any preapps I told her I doubted it because I opted out about a year ago....IDK Im really confused about this Im going to give them a call tomorrow

[kay82]

Yes Im sure the CO's are probably whats hurting the most one of them is a voluntary repo so Im sure thats the worst Im going to GW the other 2 and I have one CC and about 85% util. so Im guessing once I pay that down to less than 10 it might give me an increase ...(fingers crossed)

[Anonymous]

There's something that *might* pan out. I had heard awhile ago that USAA has a card for people with blemished credit.

This link (below) for USAA credit card benefits reveals that besides their Amex card and their standard Platinum card, they also may still have a "Gold" card.
https://www.usaa.com/inet/ent_utils/McStaticPages?key=credit_card_benefits_guide

Maybe this "Gold" card is their rebuilding card ?

Message Edited by MojaveMoon on 11-30-2008 05:11 PM

[Anonymous]

USAA is such CRAP. THey did the same thing to us a few months ago. Scores were low- to mid-600's and I spent 15 minutes on the phone w/ the rep discussing before I applied. Explained in detail our reports (there were three collections, but all were paid & I explained I had proof that could be faxed over) plus two CO's, pd off for over 2 yrs... was also told that she saw approvals from the 580's "all the time" and we would be "fine" with scores like ours. So, she transferred me, I app'd... we were DECLINED.

I was very upset, b/c we would have been FINE without the card and I had only called to set up auto insurance & this rep really pushed us apping for the CC.. got a call back from someone in their executive office who basically tried to lecture me and said "I don't know WHY you even applied, we don't even consider customers below the 620's..." well great, oh beacon of truth and light, but that's not what YOUR CSR told me!!! Then she tried to lecture me on how you really shouldn't even have a credit card because it's bad for your scores (no I am not making this up) at which point I just decided we were not going to have this conversation & quietly hung up.

I am keeping USAA for the auto insurance, but I have a very bad taste in my mouth re their CC products.. very uninformed not only of their own policies, but even the way FICO scores work.

(((P.S. the rep from the executive's offer DID tell me I could call back and ask for the inquiry to be recoded to soft, just drop her name & it would be done... so I did call back and after being on hold on & off for 20 minutes, was finally told that there is no way, no chance, no how, of anyone recoding anything and they didn't know why she would have told me that... seems to be a LOT of "I don't know why" that goes on at USAA!)))

[kay82]

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@Anonymous wrote:

USAA is such CRAP. THey did the same thing to us a few months ago. Scores were low- to mid-600's and I spent 15 minutes on the phone w/ the rep discussing before I applied. Explained in detail our reports (there were three collections, but all were paid & I explained I had proof that could be faxed over) plus two CO's, pd off for over 2 yrs... was also told that she saw approvals from the 580's "all the time" and we would be "fine" with scores like ours. So, she transferred me, I app'd... we were DECLINED.

I was very upset, b/c we would have been FINE without the card and I had only called to set up auto insurance & this rep really pushed us apping for the CC.. got a call back from someone in their executive office who basically tried to lecture me and said "I don't know WHY you even applied, we don't even consider customers below the 620's..." well great, oh beacon of truth and light, but that's not what YOUR CSR told me!!! Then she tried to lecture me on how you really shouldn't even have a credit card because it's bad for your scores (no I am not making this up) at which point I just decided we were not going to have this conversation & quietly hung up.

I am keeping USAA for the auto insurance, but I have a very bad taste in my mouth re their CC products.. very uninformed not only of their own policies, but even the way FICO scores work.

(((P.S. the rep from the executive's offer DID tell me I could call back and ask for the inquiry to be recoded to soft, just drop her name & it would be done... so I did call back and after being on hold on & off for 20 minutes, was finally told that there is no way, no chance, no how, of anyone recoding anything and they didn't know why she would have told me that... seems to be a LOT of "I don't know why" that goes on at USAA!)))

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 I would say UNBELIEVABLE but because I just went through the EXACT SAME situation you did  I believe every word... I just called and spoke with a supervisor regarding the situation and the best I got was the IM SORRY thats not how USAA does business spill and get this that I should visit myfico.com and check out their  Q & A section so that I could learn a thing or two about how to continue repairing my credit ( ha ha) I politely explained to her that I would do that and that I will continue posting on the forums about the crappy service I recieved and will give grave detail about why potential customers should reconsider even dealing with USAA period, at which point she became speechless. (ha ha) Either way the situation is very frustrating she also told me that the inquiry would not affect my score whatsoever (yeah right )... bottom line I say go with a different CU for banking needs NFCU or Penfed..all that account history with usaa that supposedly factors in when doing business with them, means nothing so dont buy that line anymore because I have 10 years of perfect history with them and to them that meant absolutely nothing !!! 

Message Edited by kay82 on 12-01-2008 09:29 AM