cancel
Showing results for 
Search instead for 
Did you mean: 

USAA MasterCards

Established Member

USAA MasterCards

Hi, guys.  I have a quick question regarding USAA MasterCards.  In January, I applied and was rejected for a USAA World MasterCard.  I then requested and received an application for a USAA Secured MasterCard.  A few days ago, I finally mailed my Secured MasterCard application back to USAA with a check for $250, to be deposited into a CD and serve as my credit limit.  As it had been more than six months since I'd been rejected for USAA's unsecured card, I decided to reapply for their unsecured World MasterCard online this afternoon, and my application was accepted with a $3,000.00 unsecured credit limit.  I wouldn't have mailed in my secured application had I known I would be accepted for an unsecured card, but now I'm wondering whether to cancel the secured application or leave both lines open.  I'm trying to raise my credit scores, and these would be my only two lines of revolving credit.

 

Is it a good idea to keep both lines open, or should I cancel the secured application/card, use my unsecured card responsibly for six months to a year, and then apply for another unsecured card?

 

Thanks in advance--everyone here is so helpful and informative, and I'm learning so much!

Message 1 of 9
8 REPLIES 8
Regular Contributor

Re: USAA MasterCards

JMO but i would cancel the secured app since its only $250 as it serves no purpose. Just keep that one for six months or so then app for another. On the flip side, if you want to keep that $250 invested in the CD, just keep adding funds to it, and save some money over the next two years. I just got a secured AMeX with them only because i want build a relationship with them, but best believe if i was approved for a unsecured product that secured app would of been trashed faster than.......well you know the rest Smiley Wink

Message 2 of 9
Valued Contributor

Re: USAA MasterCards

Congrats on your approval!

 

If it were me, I would call the banlk and tell them what happened and you are no longer interested in the secured card.

 

I am sure they can make it go away and stop processing your application when it arrives.

 

JMO -

 

Ray

Ray

** Every Card has a Job, and Every Card does its Job **
Message 3 of 9
Established Member

Re: USAA MasterCards

Thanks so much! Smiley Happy  That makes sense.  I'll use the new unsecured card for six months and decide where to go from there. 

 

As a side note, I wanted to mention I actually received the USAA *Platinum* card, not the World MasterCard.  Just noticed that when I logged in to my account.

Message 4 of 9
Established Contributor

Re: USAA MasterCards

As others have said, just ask them to void the application and shred the check when it arrives. And grats! Getting a $3k unsecured card instead of a $250 secured one is a big step up IMO.

EQ 679 FICO (02/24/2012)
TU 721 FICO (03/10/2012)
EX 703 FICO (05/05/2012)

Cards: NFCU cashRewards $14k, NFCU Platinum $14k, USAA Amex $7k, Amazon Visa $3k, Chase Freedom $2.5k, Amex Zync NPSL, Discover More $1k, Amazon Store $1.3k, Walmart Store $700
Message 5 of 9
Frequent Contributor

Re: USAA MasterCards


@AndyK wrote:

As others have said, just ask them to void the application and shred the check when it arrives. And grats! Getting a $3k unsecured card instead of a $250 secured one is a big step up IMO.


+1.  Congrats!

-----------------------
My favorite card right now: Fidelity Investment Rewards Visa Signature
Message 6 of 9
Established Contributor

Re: USAA MasterCards


@zoe15 wrote:

 

[...] As a side note, I wanted to mention I actually received the USAA *Platinum* card, not the World MasterCard.  Just noticed that when I logged in to my account.


The USAA World Mastercard I received is the opposite of ostentatious -- the only indication of it being a World Mastercard is the word "World" in a small font size in the lower right corner of the card [the card I have is the one where you can have your photo on it]

 

Also, I've read comments from customers that said they were eligible for an upgrade to the World Mastercard once their Platinum Mastercard credit limit equalled or surpassed $ 5,000.

Message 7 of 9
Established Member

Re: USAA MasterCards

MojaveMoon--that's good to know!

 

Thanks again, guys! Smiley Happy

 

 

Message 8 of 9
Senior Contributor

Re: USAA MasterCards


@MojaveMoon wrote:

@zoe15 wrote:

 

[...] As a side note, I wanted to mention I actually received the USAA *Platinum* card, not the World MasterCard.  Just noticed that when I logged in to my account.


The USAA World Mastercard I received is the opposite of ostentatious -- the only indication of it being a World Mastercard is the word "World" in a small font size in the lower right corner of the card [the card I have is the one where you can have your photo on it]

 

Also, I've read comments from customers that said they were eligible for an upgrade to the World Mastercard once their Platinum Mastercard credit limit equalled or surpassed $ 5,000.


That has been my experience too.

IAALBNYL
Message 9 of 9
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.