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USAA Experiences


jezter6
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After looking for some place that doesn't pull Chex, I saw USAA was on the list. Since my father is recently retired military, and I've had insurance and such with USAA before, I logged in and got an account nice and quick.

Anyone have experiences using them to rebuild credit? Do they do secured loans or secured CCs? I didn't see any on the site, but you never know. What about small loans with them?

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Well, getting into USAA is usually the problem. Sounds like you are already a member, is that right?

I've been a member since my dad signed me up, and I had a VISA with them and screwed it up, and begged my way back in, and screwed up again and lost it but this was in the mid-nineties. So just a year ago I finally applied again for a card and I was shocked that they approved me for the same amount they did back in 1990 or so... $2,500.

My scores at the time were around 690, though, and I had almost no balances on anything. I've kept that card in excellent standing through today.

I applied again a few months ago for a MC and they turned me down. My utilization on all cards was considerably higher, though. I'm in the process of cleaning up my utilization, and thus raising my scores, once again.

They don't have credit rebuilder or e-z terms cards. Just regular cards. They have a tier of rates,though, but those things never seem to apply to me - I always either get a card (I think this was at a medium interest tier) or I get turned down.

Good luck! I think they're an excellent place to get in good with.

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I never burned them in the past and have (I guess) always had some sort of account with them. When I signed up online it already new my father and my ex-wife and had them listed on the website as people somehow tied to me. I do need to call and get the ex taken off. I decided to open a checking account for myself and they happily opened it with a $25 deposit from my other account.

I'm still trying to get into this local CU, but if I can wiggle anything out of USAA that will be great. Mostly, I just wanted to have a backup place to store funds if BoA ever shut me down one day.

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Congrats on the USAA account - they are a great bank!

As far as the CUs, once you look at the list, it is worth the time to call all of them, talk to a bank and see if they check ChexSystems, and if they do, will they open an account if you have a letter from the bank that listed you saying you have no financial obligations with them. A handful will likely work with you, and once you talk to someone on the phone, it is easier when you go see them to open the account because they already know your situation and you can start building your relationship right there. Might as well ask them if they have credit-rebuilder cards too! :D

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  • 2 weeks later...
  • 2 weeks later...

I've had USAA since 1999 and I Love them....everything from car insurance to renter insurance here in Koera.

I recently got a $15,000 credit card with them while talking with them on the phone, instant approval. No verification needed...

I also love there web site, you can do almost everything you need right there and if you have any questions just give them a call....

Would highly recommend them if you are military....

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I have been a member since 1984. Way back then I had a $1500 MC with them in addition to my insurance. I paid it late and they closed it but I did pay every month until it was paid off. When it was still on my CR, it showed pays as agreed, never late. I never asked them to re-open it.

I have 2 car loans with them. They give good rates, but you need a 600+ score. To get their cc, you need to be mid 600s. My daughter got a $2K cc while still an E-2. She has never had issues with them and her card is currently $5K.

My BF closed his Wachovia bank accounts and opened USAA accounts and he loves banking with them.

Recent experience.....

Over 3 yrs ago, my scores were too low to get a car loan. My mom co-signed. Right now my EQ score is low because of high util and a recent $62 dental collections. I asked USAA to refi to get my mom off the loan. (They are trying to refi their ARM mtg and this was one thing preventing their approval.)

Initially, they ran the CR and said no. I immediately asked for recon. Loan guy calls underwriter who still said no. I asked to speak to underwriter and he put me on the phone with her. I said that the stuff they were saying that caused the decline was on there when they approved me 6 mo ago for up to $50K for a car loan....with the exception of the $62 collection.

I pointed out that this loan was preventing my parents refi....that parents had been with USAA for 50 yrs and my dad was a retired LTC and they (USAA) were hurting his ability to refi and that was not good for business...that I have been with USAA for 25 years, DD and DS and BF were all USAA customers and that would be a lot of business to lose......

I got a call the next day. They refi'ed the car loan! It is essentially a continuation of the prior loan. 20 months @10.5% 100% of current market value...which surprisingly was only $5.82 lower than the balance on the note!

(BTW, my 08 Scion tC has a 6% rate)

They are a great company to work with.

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What CRA do they pull? I never really paid attention...i guess I should though..lol

Have 2 CC's (amex 8k, mastercard, 3k) car loan, personal loan, checking, savings, roth IRA, moneymarket, and car insurance thru them.

USAA has always treated me well been a member for 5 years.

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  • 3 weeks later...
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