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USAA Personal loan approved 20k

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12njoy
Super Contributor

USAA Personal loan approved 20k

Was online with USAA and saw an offer of a preselected personal loan.  Went on to read some reviews on USAA and see that it's all over the board.  Decided what the heck, approvals for me are far and in between lately.  I thawed EQ and applied for 20k.  Got the pending message last night and had to call today.  To my surprise, the csr said they tried to pull EX.  I said I thought USAA used EQ.  He said they recently switched to EX.  Don't know if this is just for loans or all products (didn't ask).  I thawed EX and gave them a call back.  Approved for full amount but not at the best or favorable terms.  60 months @11.94%.  Was expecting a denial or counter offer.  Will certainly pay this off in under 2 years.   

(Formerly known as: Credit is my hobby/TCL objective)
___________ 12Njoy
FICO - EX 810; EQ 797; TU 804 I'm climbing back to 800+
Message 1 of 17
16 REPLIES 16
Appleman
Valued Contributor

Re: USAA Personal loan approved 20k

Congrats on the loan!

Message 2 of 17
Anonymous
Not applicable

Re: USAA Personal loan approved 20k

12njoy, congrats on loan.  Did they require POI?

Message 3 of 17
12njoy
Super Contributor

Re: USAA Personal loan approved 20k


@Anonymous wrote:

12njoy, congrats on loan.  Did they require POI?


Thanks Irish.  No POI required. No questions about my nearly 40 inquiries either.  Was on the phone with csr who was on the line with UW for about 5 minutes.  Came back approved,  no questions asked.   I was surprised myself.  I've been with them since 2011 and got my first secured cards with them in 2012 and closed them in 2013.  I have two unsecured cards with them totaling their max credit card limit of 50k. I also have a 2014 auto loan originally at 26k and now down to 20k.  I also have auto insurance with them. My EX FICO as reported by FNBO is 716.  USAA has my EX FAKO at 623.

(Formerly known as: Credit is my hobby/TCL objective)
___________ 12Njoy
FICO - EX 810; EQ 797; TU 804 I'm climbing back to 800+
Message 4 of 17
Anonymous
Not applicable

Re: USAA Personal loan approved 20k


@12njoy wrote:

@Anonymous wrote:

12njoy, congrats on loan.  Did they require POI?


Thanks Irish.  No POI required. No questions about my nearly 40 inquiries either.  Was on the phone with csr who was on the line with UW for about 5 minutes.  Came back approved,  no questions asked.   I was surprised myself.  I've been with them since 2011 and got my first secured cards with them in 2012 and closed them in 2013.  I have two unsecured cards with them totaling their max credit card limit of 50k. I also have a 2014 auto loan originally at 26k and now down to 20k.  I also have auto insurance with them. My EX FICO as reported by FNBO is 716.  USAA has my EX FAKO at 623.


Thanks.  Ive been looking at them as well and had noticed the widely different reviews so was bit apprehensive.  Only credit products I have with them is a small platinum mastercard and year and half old auto loan but have been member and used their insurance products for 30 years. . What 'reason did you list for the loan?

Message 5 of 17
12njoy
Super Contributor

Re: USAA Personal loan approved 20k

Debt consolidation.  Good thing is,  unlike some,  USAA doesn't ask you to list creditors that you want to pay off.   They'll deposit the money in your account or send you a check overnight for you to do what you want with the funds. 

(Formerly known as: Credit is my hobby/TCL objective)
___________ 12Njoy
FICO - EX 810; EQ 797; TU 804 I'm climbing back to 800+
Message 6 of 17
Anonymous
Not applicable

Re: USAA Personal loan approved 20k

The fact that they recently swiched to Experian is making my app finger twitch.

Message 7 of 17
12njoy
Super Contributor

Re: USAA Personal loan approved 20k


@Anonymous wrote:

The fact that they recently swiched to Experian is making my app finger twitch.


Is the switch to EX for all products?

(Formerly known as: Credit is my hobby/TCL objective)
___________ 12Njoy
FICO - EX 810; EQ 797; TU 804 I'm climbing back to 800+
Message 8 of 17
Anonymous
Not applicable

Re: USAA Personal loan approved 20k


@12njoy wrote:

@Anonymous wrote:

The fact that they recently swiched to Experian is making my app finger twitch.


Is the switch to EX for all products?


That's the indication from posts in the approvals forum.

Message 9 of 17
12njoy
Super Contributor

Re: USAA Personal loan approved 20k


@Anonymous wrote:

@12njoy wrote:

@Anonymous wrote:

The fact that they recently swiched to Experian is making my app finger twitch.


Is the switch to EX for all products?


That's the indication from posts in the approvals forum.


Thanks.   My score is slightly higher in EX than EQ so it worked out well

(Formerly known as: Credit is my hobby/TCL objective)
___________ 12Njoy
FICO - EX 810; EQ 797; TU 804 I'm climbing back to 800+
Message 10 of 17
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