So today I called into USAA to ask about the APR of my CC that I hold with them. The prompting of this is because the federal resever changed the rates recently and I wanted to see how this would affect me. I ended up speaking to a rep named Tanya on the phone who was but was not helpfull. I asked her if my APR on said CC will change because of the Federal Reserve changed its rates. I was told that the only way it would change is if the prime would change. So I asked her " How do I find the current prime rate outside of USAA?" Resaonable question. All she could do is point me to USAA... I had to ask the question a second time and all she could was respond to the same at which time I cut her off. Telling her that she is not actively listening to my question. I asked to speak to a supervisor I was told "None are currently here". Seriously your going to be at work and no supervisors are going to be there? So i ended the call still did not get a answer to my question and zero help pertaining to the question of the APR change. Also on an unrelated note I found some website that monitors the current prime rate and it is indeed different from what I currently have, how reliable is that site its unknown. But they do have a history of 10 plus years of prime rates right on the site. After all this I have noticed that amount of customer service I get does rapidly decline on who the rep is. But for a rep to not answer the questions to the best of their ability, and not actively listen to the memeber' question(s) really leaves memebers questioning if USAA is where they need to be.
Yea Social services I hate to break it to you. Further review of the matter doesn't really help, the bank will always take the side of their employee(s). I'd much rather have a conversation with th CEO about why USAA APR is not going to change on CCs or other products. Really disappointed in the quality of services I get from the bank and makes me ashamed to be a memeber.
Rest assured that the APRs on your checking/Sav/CD will take another hit downward. I've very rarely seen CC rates (might for variable rate CCs) go down when the FEDs reduce their rates. Financial institutions make even more money from their members. They continue to milk you by charging you more to use their money while paying you nothing for the money you leave in their bank. Sounds like a raw deal for the consumer however way you look at it.
Sadly I am going to have to agree with you. I have been a member with this bank since i enlisted and continue to because of certain perks. But when we are talking about members money and doing the right thing USAA fails everytime. When i did a simple search for current prime rates in the U.S. I found it was sitting 5.25% though that is on a site that I can not vouch the validity of. But as I said before the site sure did have a ton of information on it pertainig to past prime rates. Not only that the only reason I really got curious was because I was going to sign up for a new CC from a different company and the rate had dropped from mid 14% to low mid 12% for great credit scores. But exisiting CC don't get that beneifit apparently.