I recently applied and was approved for the USAA credit card I wanted. Another credit union approved me for a refinance on my vehicle at 3.49%. I decided I would give USAA the opportunity to earn all of my business. I'd prefer doing all my banking in one place. The approval came back but unfortunately no where near where it needed to be. They offered a 5.6% which is disappointing given my FICO and USAA's published "best rates". Further, I've read stories of people with FICO's approaching 800, lengthy job histories and six figure incomes. These things are still not good enough for the best rate. I'd be interested to know who actually gets approved for USAA's best published rate. For the record, the credit union I decided to go with had a best rate of 3.49 and that's the rate I was approved for. My credit must be good enough to meet excellent criteria but unfortunately not here at USAA.
Hello and thank you so much for your inquiry. Excellent credit may consist of the general following characteristics:
Excellent credit generally has the following characteristics:
-Low use of revolving debt
-No collections, judgements, or liens
-An extensive credit file with aged accounts
We would be happy to review your concern with an underwriter and provide you with the specific items that impacted the annual percentage rate we were able to offer you for your refinance request. I certainly would hate to lose you trust in us. I would like to ask that you please contact our Consumer Lending Department at 1-800-531-8722 and request to have your concern reviewed by an underwriter. We certainly want to do our best to restore your confidence in us so we will be your bank of choice for your financing needs in the future. Thank you! - Darrell