*caution: gushing zone ahead*
I've been with USAA for 29 (30?) years now. My dad was in the Army, and he signed me up to get car insurance, which I carried for a few years and then dropped as being too expensive. For a long time, I didn't have anything going with them, but I started up again maybe 8 years ago, for a checking account.
Since that time, I have added savings, a money market account, a Roth IRA, a MasterCard, an AmEx, car insurance, *brb - need to check* oh right, CD's, a home equity line of credit, initial financial planning advice, bill pay, and separate banking and credit accounts for my three adult kids.
They put a lot of weight on length of relationship, and so even in my days of credit stupid, they extended credit to me without my even asking for it. By sheer dumb luck and/or the grace of God, I never bounced a check or missed a payment with them, so we're happy with one another. I've changed credit limits a few times, and currently my MC (just upgraded to World) is $27K, the AmEx is $10K, and the HELOC is $50K (all I asked for.) The APR on the HELOC is 0.95% under prime rate.
I have never had a problem with getting help, clarification, etc from them with any financial mystification. We just switched our auto insurance (5 cars, 4 drivers) to them from Safeco, and the premiums are about half what they were before. I've had friends who have had auto claims with USAA, and they were all happy. I am anticipating some changes coming up in my life, and I will be paying for their financial planning advice when this happens.
They are not a credit union, but a membership organization that "feels" like a credit union. Banking is insured by FDIC, not by the credit union group.
They are very conservative, i.e. cautious, with new members, so don't expect BofA/ Alliant-like numbers out of them when you first get started. But as I said, they put a lot of emphasis on length of relationship, so let them grow with you. They pull EQ for almost everyone, although there is a small minority reporting EX pulls.
USAA periodically changes its membership requirements. I would encourage anyone interested to keep checking their website to see if you can get in with them.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
