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Applying for credit

Applying for credit

TroopB's avatar User  TroopB  (Opens a pop up layer) Contributor

I've been fairly impressed with USAA service since I started banking with them years ago. A couple days ago, I applied for a car loan on a used vehicle. It's an old car, which I understand represents a risk to the bank, so I had expected a fairly high interest rate. The woman I spoke with said 5.84% is what I would qualify for pending a credit check. I said okay, whatever, it hurt, but I understand the rate and why it's there, I will just pay it off quickly. She runs my credit and then offers me a 9.99% rate. I ask her what about the previous rate, and she told me she put some inaccurate information into the credit application before that gave me that rate. So.. this rep gave me inaccurate information by way of interest rate, put inaccurate information into the system which gave her that rate, and then did a hard credit pull on me, only to offer me almost double the rate! When I ask her about the issues, it just goes to damage control mode and I get nowhere.. I don't want tlanything outrageous, I just want USAA to make this right?

Re: Applying for credit

USAA Social Service's avatar User  USAA Social Service USAA Service

Hello and thank you for sharing your concern with us regarding the annual percentage rate for your auto loan request. I'm sorry for any disappointment we may have caused you regarding your request. We will research your concern and follow-up with you shortly. Thank you! - Darrell

Re: Applying for credit

curt12's avatar User  curt12  (Opens a pop up layer) Contributor

I have had the same experience. USAA is not even in the ball park with auto loan interest. The lady. Assisting me told me to call back if I received a better offer from another bank. Why would I waste mytime.
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