USAA REJECTED MY CAR LOAN APPLICATION AFTER TELLING ME I WAS PRE-APPROVED AND FOR NO DISCERNIBLE REASON

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Regular Contributor
I applied for a $5500.00 USAA car loan today. I have almost a 800 Experian credit score (the one they use), great DTI, long standing accounts and fairly decent guaranteed income. I've been with USAA for ten years and I've paid off every credit card bill, personal loan and prior car loans on time, every time for over a decade. So today I applied to take advantage of the low interest rate I believe I am entitled to and PRE-APPROVED for by USAA in order to purchase a vehicle from my parents. So imagine my surprise when my application, that was pre-approved, comes back rejected for a whopping $5500.00 loan. I've had personal loans with USAA at 10k in the past and I've never even as much as been a day late with a payment in ten years having paid off several USAA loans in the past.

It is absolutely unbelievable that my application for a $5500.00 car purchase from my parents would be declined based on all the evidence I've talked about here- and more. There is literally not a single, solitary reason why my request for a basic, simple, small used car loan should be denied. Absolutely none. I'm so fed up with USAA. In the last few years I've had more problems with them: from this to hacked into accounts to all my USAA accounts disappearing to common 20 plus minute hold times with inadequate help or service to failure to make good on credit card fraud to poor mortgage processing to failure to reimburse me after wrongfully posting a check FROM A DIFFERENT MEMBER'S ACCOUNT TO MINE to some other things. This USAA is such a far cry from what USAA used to be. Oh, not to mention I've had car insurance with them for a decade plus car loans and personal loans and valuable property loans and on and on. I am dumbfounded by the level of disrespect and abrasive service USAA has demonstrated today with my requested car loan. Again- I have no idea why the loan should be denied. The denial letter mentions things like "too many inquiries in last 12 months" (huh? Not true) "length of accounsts" (again- not true- I've great credit history and long accounts). And other nonsense that isn't true nor is it reflected in my credit score from Experian- WHICH IS THE ONE THEY USE!

I am just wholeheartedly ready to move on from USAA. They not only don't know how to operate a bank anymore- they've become so used to their members' loyalty that they don't care how they operate or what life they screw up. They don't care because they don't need to. Well, I'm just about done with it all. Hopefully someone from USAA car loan division calls me and helps me get this whopping $5500.00 used car loan or explain to me why in the heck my application has been denied. Go to Navy Federal Credit Union. That's what I should've done. It was only my stupid blind loyalty that I applied. Never again.

2 REPLIES

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You just complained about all the wrongs that USAA has done to you, but then you want them to solve the problem and approve the 5500 dollar loan? Something doesn't add up here. If you are this upset maybe you should get the loan elsewhere.
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Whit1981,

Thank you for posting in Community. This is not the experience we want for our members. We have escalated your concerns to a representative who will reach out to discuss this matter further.  We look forward to the opportunity in resolving this matter.