USAA auto refinancing

[Anonymous]

I got USAA to refinance 3 cars that we have (one of ours and the 2 we just bought for our 2 older daughters in college)... we are in the process of rebuilding our credit... my hubby is farther along than I am.  Our interest rates on the vehicles were 17.9%, 12.9%, and 14.9%,,, now they are all 9.4%.

Although I'm not thrilled with 9%, it's sure better than what we had!  They also said that, after a few months of good payments, I could call to see about them lowering the rates.  They told me that they only look at payment history for reducing interest rates, not credit reports.  That was good to know!

Any thoughts?

[Tuscani]

USAA is fantastic. There will lower your rate once you prove you are responsible.

[Anonymous]

what were your scores?  I am trying to get a refi thru them but having no luck at all.  My scores are in the low 600's really due to a lack of credit and a short credit history.

[Anonymous]

I really don't know all my scores, and I'm not positive about equifax... however, I know EQ was low to mid 600s... and the only thing on my credit report at the time was an old wells fargo account from 9 years ago in good standing, and a car loan since 2005 with perfect payment...

[Anonymous]

at least here in GA, USAA pulls EQ only

[Tuscani]

USAA pulls EQ 99% of the time.

[Anonymous]

my EQ is 606

[phumanr]

If you are not in the military, is there anyway you can apply for credit with USAA?

Phumanr

[Tuscani]

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phumanr wrote:

If you are not in the military, is there anyway you can apply for credit with USAA?

Phumanr

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Nope.. not unless you opened an account prior to their rules changing last year.

[haulingthescoreup]

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@phumanr wrote:

If you are not in the military, is there anyway you can apply for credit with USAA?

Phumanr

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Or you can join if your parents were ever members. Shake your family tree, hard, they are a fantastic organization. Their motto: "We know what it means to serve." This aging Army brat has never found anything close to them.