I just want to say one thing about USAA and their credit cards. USAA will offer a great introductory offer on all purchases and balance transfers when you get your card, however, don't expect to get any good rates or credit offers going forward. Once the 12-18 months is up, your just a number. I have been with USAA and had this card for 5-10 years. Its been so long I dont even remember. I have a good credit score, I know this because i received a low 2.29% interest rate on a new vehicle loan through them. The credit card they wont tell you this up front, but I will recite word for word what one of the reps told me about my 23% interest rate on future balance transfers:
"APR on credit card are established at the time of opening unfortunately APR do not drop unless the prime numbers changes and you can open a new redit card but can not guarantee you will have a APR lower than what you have"
Perhaps there are a 100 people out there, members of USAA, that still have a good interest rate. I'm sure one or two of you will comment on this thread saying how great your interest on your USAA card is and how much you love USAA, but my gut feeling is 95% of you will be in the same boat with a 20%+ interest rate that will never go down. Let it be known that my card is $0 balance so its not like they got me where they want me with 10k in credit card debt. I even said to them that I would not use the card again as long as the interest rate is that high. Maybe if enough people complain, they'll see that they need to stop raking over the military and veterans of this nation. I am now going to go and vomit.
@Angry Adam, thank you for taking the time to share your feedback with us regarding the interest rate on your credit card account. We try to be flexible with our members and offer the best rates possible. We currently do not offer the option to adjust the rate on an existing account. You would have the option to submit an application for a new account to see if you qualify for an account with a lower APR. Your concerns about your account are important to us and I will share your feedback about your disappointment with the appropriate team. We continually look for ways to improve our products and services for our members. Thank you. - Rhonda
Adam, I'd also be careful about how they report to the credit agencies. They sometimes do that and can't even tell you why they did it. They make you fill out paperwork to investigate it and then come back with the generic--no help/information response. That means a lower credit rating and headaches trying to find out why they did it. That's what finally made me decide to get rid of mine after 25+yrs. Also, I could never rely on their cards while I was traveling overseas--even after I notified them what countries I was going to be visiting. Thank goodness for the cards I had from another financial institution.
To USAA Rep: No need to address my comment.
Yes and speaking of credit cards - USAA please implement a better system of managing fraud or suspected fraud. Perhaps you should look at the systems that Citi and Fidelity have in place and learn from them.
I do regret to hear you feel this way @pearl Master Jay as we never want our members to feel this way. I was able to locate your profile and will engage the appropriate area for review. If additional information is needed they may reach out to you. Thank you for your time today. -Emily