Qualifying for USAA credit card

Discussion in 'Credit Talk' started by Saar, Mar 30, 2002.

  1. Saar

    Saar Banned

    Can anyone post some info about USAA:

    How lenient are they in granting credit cards, typical score, or anything else of value.


    Thanks,
    Saar
     
  2. charlieslex

    charlieslex Well-Known Member

    I don't know for sure, but I would guess they would be hard to get. The management is primarily ex-military and they have strict hiring standards. They have great employee benefits, 4 day workweek, probably at least 20 restaurants, multiple gyms, banks, daycare, dry cleaners, etc. The insurance is rated among the best there is. Ron may know more. He's from SA. Charlie
     
  3. GEORGE

    GEORGE Well-Known Member

    As far as I know...you DON'T have to be in the armed forces to get a credit card...
     
  4. GEORGE

    GEORGE Well-Known Member

    I know the insurance division RIPPED US OFF!!!

    The guy across the street did a DUI/H&R on my wife's PARKED CAR...

    We rented a car while we were unable to drive the car...and they had to order parts.

    She went on VACATION, so we turned in the car for that week and re-rented it again when she got back...(was going to save them money)...THEY DENIED THE SECOND RENTAL!!! THEY SAID IF WE WOULD HAVE JUST KEPT THE CAR WHILE SHE WAS ON VACATION...IT WOULD HAVE BEEN PAID IN FULL!!! JUST TOTAL STUPIDITY!!!
     
  5. me

    me Well-Known Member

    I've had USAA insurance for a number of years.. They've given us good service...

    So I took the plunge and applied for there credit card a few days ago... great rates quoted, as low as 6% APR for purchases... but I haven't heard anything yet... will let you know what happens..
     
  6. breeze

    breeze Well-Known Member

    Reshod has one. He was urging me to get one (I have USAA insurance). I have had a bad experience with the credit department - one gal was extremely rude to me, and I won't deal with them.

    I called USAA FSB for my Mom a little over a year ago. She has been a member of USAA for 40 years. My Dad (deceased) was retired Lt Col in the army. Mom needed a new car (at my urging). She was 79 at the time. So, Dec 2000 I called and talked to USAA FSB credit dept about whether or not they would finance Mom's new car. The gal got Mom's OK, took a little info, and checked her Experian report (I looked later), and said "no problem. Just go pick out your car and call us from the dealership, we'll take care of it." The car was actually purchased in April, but again about a week before we went to get it, I called USAA again, and said "is everything still OK? She's ready to go get the car." This gal said "sure everything is fine, just call us from the dealership."

    So we go pick out the car, make the deal, and call USAA FSB. We get some bitch who checks Mom's Equifax report (her oldest account has never been reported on Equifax so her credit history is about 4 yrs), and she says "no way." Now here's me and my Mom sitting there on the phone with this evil witch, and she starts asking Mom all the application questions over again. Well, Mom didn't know what she was asking (like rent - Mom doesn't pay me any rent, she helps with household expenses) - but Mom asks me how much "we" pay each month (on top of that it's my brother's house). So I got on the phone with the gal, and she refused to talk to me, insisted I put Mom back on the phone. I tried to explain, asked her to look at the file that was already there, she refused, and she got even more rude. Finally I ask the salesman if Chrysler would finance Mom - while I was holding the phone with the open line and the USAA credit rep on the line, then I just hung up.

    I helped Mom with the application (she has perfect credit, just short history on Equifax) and they take it back to the F&I guy, and we wait... the salesman fusses around doing nothing, and finally says "there's a problem..." I asked what it was and he said, did I have a car? I said "yes, why? what does that have to do with it?" He looked embarrassed, and said, "ummm, could you cosign the application so we can check your credit too?" I said they could check my credit but I wasn't cosigning anything. He went in the back, and came back out and said, was my car there - did we drive it to the dealership? I showed him my shiny new red car, and the registration, and he relaxed. Chrysler approved it and Mom got her new Dodge Stratus.

    Turns out the evil witch had told the F&I guy that she thought it was a straw purchase. I have been doing business with USAA for 15 years myself, and she never even asked. I assumed she knew.

    Can you imagine??

    No, I don't want their card, LOL.


     
  7. charlieslex

    charlieslex Well-Known Member

    You don't...only for insurance Charlie
     
  8. ng

    ng Well-Known Member

    Response when I called customer service:
    No negatives
    Balance to credit ratio must not be high
    Etc.
    Not as easy as some.
     
  9. me

    me Well-Known Member

    Well I just called USAA to find out the status. They told me I had been approved.

    They told me my rate was determined to be Prime + 1.75%. (which right now would be 7%)...

    What's the lowest spread anyone has gotten? It's pretty much assumed that interest rates will be going up..
     
  10. GEORGE

    GEORGE Well-Known Member

    7.00%????

    PRIME IS 4.75% + 1.75% = 6.50%
     
  11. me

    me Well-Known Member

    Hmmm... I wonder what it is now... I don't follow the prime rate (this is my first card with a variable APR).. and the lady said your rate right now is 7% which is prime plus 1.75%...

    I wonder what it is.. I guess I will wait and see when I get the card..
     
  12. GEORGE

    GEORGE Well-Known Member

    www.cardoffers.com

    (top right of page) Current Prime Rate: 4.75% Show History
     
  13. KHM

    KHM Well-Known Member

    I have been trying to get USAA to refinance my vehicle, but trying to figure out which credit report the pull is impossible, they told me it's which ever their system decides at the time. You can have absolutely NO negatives for a refinance on a vehicle. As to the credit cards, well I didn't even know they offered any!
     
  14. girl6

    girl6 Well-Known Member

    congrats on getting the cards. USAA turned me down last years. I havent tried again.
     
  15. charlieslex

    charlieslex Well-Known Member

    me, What CL did they give you and what are your scores? Charlie
     
  16. me

    me Well-Known Member

    They gave me a $10000 limit and last time I checked my scores were around 725
     
  17. desperado2

    desperado2 Active Member

    I have had USAA insurance for about 3 years now. My wife has had a USAA CC for 15 years.

    My profile:
    EQ -635
    TU - 645
    EXP (CE) - 621

    Ch7 Aug 1995
    Several lates from Sears in 1998(divorce).
    Collection from Adephia Cable (Credit Management)
    Mortgage
    Auto Loan
    Providian $4k
    Sears $1k

    I was initially declined over the phone, but continued to ask questions like What do I need to do to Qualify? What exactly disqualifed. The CSR gave me her superviosr who was very polite understood by situation a did a manual override $5000 11.95%. The reasons for the initial decline were the exact FICO reasons. They are definitely a very conservative company but they are willing to work with you.

    Desperado
     
  18. GEORGE

    GEORGE Well-Known Member

    ****************************************************************
    The reasons for the initial decline were the exact FICO reasons.
    ****************************************************************
    F.I.C.O. EXCUSES!!!!!!!!!!
     
  19. slppryslp

    slppryslp Well-Known Member

    I've got a USAA Plat and the current apr on it is 5.75% with $40? annual fee. I only found out about the better rate through money magazine. I have been extremely happy with the card and the customer service just ask the phone operators what they think of their company! It is the best credit card I have. I think they are becoming more conservative with their credit cards now, ie starting to have bt fees and higher apr for new accounts.
     
  20. me

    me Well-Known Member

    Wow.. That's a great rate...

    I finally got my card in the mail today.. they gave me 13500 limit with Prime + 1.75% which they calculate to be 7.25%... which is still good...

    Now I have these cards:

    USAA Platinum 7.25% (Prime + 1.75%)
    Pulaski Bank (7.50% Fixed)
    GetSmart (7.99% Fixed)
    Fleet (7.99% Fixed)
    CapOne No Hassle (8.9% Fixed)
    Amex Blue (9.9% Fixed)

    I think I'm going to stop here... I'm pretty happy with my cards and their rates...
     

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