I have been a member for over 20 years and have had numours loans with USAA and never a day late on any of them. All paid off early and since USAA allows pre-payment, I have always taken the interest hit and paid at least 3 months in advance. I have a credit rating between 830 and 850 at anytime, spend 50K+ per year on credit, but paid off monthly for travel. Never a late payment on anything ever and I am very careful with my financial situations ensuring no matter what happens, there is a way to pay everything off. My partner and I have over 300K take home with 30% on life costs. I have worked for the same company since 2007 and the same industry since 1990. I have plenty of life and disability insurance in case something ever happens, I have never been denied a loan in over 20 years with anyone and A paper in all respects. I have cash in the bank to cover all existing loans across 3 credit unions and two banks. So, for the first time in 20+ years I was denied a loan and it was with USAA. The worst part is to keep the close to 850 credit score, you make a decession of who you want to go with prior to applying because of the credit inquiry. The reason USAA denied is we have sold a house in Florida two months ago and Wells Fargo has not reported it yet. Manual Underwriting would show proof of that. Looking at my account that is tied to all my loans would show Zero or low balances. USAA has no manual underwriting that others do that shows our liabilities and assets show we are in a better cash situation then we have been in years and we are starting that look toward retirement and wanted to buy an RV for ~100K. The loan would be for 35K of that with 65K cash down. USAA would be well protected. I have slowly been pulling away from USAA as they are less competetive on Insurance and Banking, but loved the convience and ease in the past and the customer service. Not anymore since you have become a machine, you are losing an A Paper Customer.
@JoeMerchant, I am so sorry to hear that your loan was denied! Sounds like you are really on top of everything and doing a great job. We would hate to see you leave, we appreciate your trust and loyalty for over 20 years! I am sending your concerns now to a Bank specialist to review. Thank you for taking the time to reach out with this. ~Tom