Secured Credit Card Status...please NO MORE LIES

So, as a secured credit card holder, in 2018 my ability to "deposit" money to raise my credit limit was in USAA's words "temporary" suspended for them to improve and enhance the secured credit card. When this was first announced I was actually happy as I have been trying unsuccessfully since 2014 to get my credit card to graduate to a unsecured credit card, and I thought this would be one of the enhancements that they would include.

Since then I have had years of correspondence with USAA, including the CEO's office and still to this day there is no update on when the credit card would be available again for members and what improvements and enhancements would be made to the program including a option to graduate the card to an unsecured card.

Sure at first, I needed the secured card to raise my credit score, which it did. When I applied for the secured card, there was no, and I repeat no disclaimer that this card would never graduate to a unsecured, like 99.9% of all the other secured cards available to consumers.

I raised my credit score, with the help of the secured card and eventually was able to purchase my first home.  At that tIme I began to petition USAA to unsecure this card as I had trapped money in the CD and could have used that money for my down payment on my house.

When my inquiry fell on deaf ears, I eventually gave up, and applied for a preferred cash back visa, which I got with a 35k limit.  Since getting this card I have not used my secured card in 5 years.

Now that I don't need the secured card I would like to get the capital I have back that's trapped in the CD to help my family especially with the pandemic.  To do that, I would have to close the secured card, and in doing so close one of my oldest credit lines on my credit report. 

The way FICO scoring works, is if I close my card with the longest history (which this is), my credit score will be negatively impacted, thus effectively making the secured card that was supposed to "help me" and help raise my score now hurt me and do the exact opposite by lowering my score. 

I am sick and tired of the the usual "thanks for your concerns" runaround.

There are a whole class of secured card members and USAA member, some of whom have put their life on the line for our country,  that are being negatively affected and we would like USAA to please address this issue and allow for the current card holders, who have excellent credit to finally graduate.

So USAA for ONCE, please read this and respond according, with a smart and intelligent response, with facts and an accountable timeline. If anyone from USAA reply's with your generic bull I will continue my process of exiting and ending my business with USAA, as I have already pulled 50k out to put in my local CREDIT UNION's Money Market. NO MORE LIES!!!


Thanks for NO RESPONSE!! Your lack of attention to this is noted. It's unacceptable.


MarkMM, I regret your frustration. I'll forward your comments to the appropriate area.

Thanks for your robotic response. How about an intelligent meaningful response, with facts and an accurate timeline....I'm so done with USAA.

"MarkMM, I regret your frustration. I'll forward your comments to the appropriate area."


ANY UPDATE????????

MarkMM - Please know that we will announce any updates to this product. For now, we have no anticipated release date or changes. We appreciate your patience.

That is NOT HELPFUL.  Please have the CEO's office contact me regarding this.  Your responses are robotic.  

For myself, I believe USAA has exited the secured credit card market and is not going to return. They used to have a short statement on their credit card page saying that they were working on a secured credit card, but now even that statement is gone.


I know COVID-19 has changed priorities, but I go back to this again - the "tone from the top" - as in senior management. Let USAA Members know what the status is of secured credit cards. Then, an informed Member can make the best decison for themselves. Senior management has room for improvement on how they commuicate with Members - how they have handled secured credit cards is an example.

Cat Servant - Please see our response to your other post. - Jason

Correct, all I'm looking for is facts and an accurate timeline, so I can make an informed decision on my family's financial status and our credit. But what's really disgusting is the way we get treated as members for even asking. Just respectfully respond with an intelligent accurate response, the robotic responses are not even funny anymore. Will USAA PLEASE just accurately respond to the members on this issue??