takeshi wrote:With a BK reporting USAA granted my my highest card limits and lowest APR's as well as the best terms on auto loans by a large margin. That was a number of years ago though so I'm not sure if that's still relevant.
Now that my credit has been in much better shape their credit products aren't quite as shiny as others that offer better rewards but I still have my USAA cards even though I don't use them much as their high CL's (not the highest anymore but still pretty good) help pad my utilization. I still get excellent auto loan terms from them. The dealer I purchased from a year ago didn't even bother to try to push financing when I mentioned that I had prearranged it with USAA. The rep stated that he knew they couldn't compete.
If you're not using their auto insurance I'd suggest checking it out. They're always top rated and while YMMV on this as well my experience with them (including claims) has always been excellent.
What takeshi said here mentions a lot of the benefits I was getting at. The credit cards are mediocre in regards to rewards, but USAA has some benefits all around that can't be beat.
Battery111 wrote:I apologize if I came off as bashing them, as that wasn't my intent. Only that personally I'm not crazy about an HP every six months just to get a couple thousand more (maybe) on a line of credit. Now obviously if you need the extra CL either for purchasing power or utilization that's different and the HP may well be worth it. For just "nice to have" CLIs I stick to the issuers that do SP CLIs like Discover, Citi, and AMEX.
Keep in mind the 3X CLI isn't limited to once, that's just the max AMEX will approve for any one CLI. Six months after your 61 day CLI you can request another 3X if you so desire. Of course YMMV just like the initial one.
As for USAA overall, I've got no issues with them, but I'm not really a USAA fanboy either. I know some think they are the greatest financial institution that ever was. I'm just not one of those people. I've yet to see much of anything they can do for me that Navy Federal can't, short of the car insurance piece, although one doesn't need to bank with them for that. I think they're a good bank, and were I in the market for a new financial institution they would be in the running. But they wouldn't be my only consideration.
As both of you mentioned, yes, HP every 6 months is subjective for different people. USAA does have two new cards that came out in January for cash back rewards that are actually comparable to Chase Freedom and Discover It. I just don't like how the cash back rewards are returned annually.
As for the 3X CLI, I was focusing more on the 61 day policy as being something very specific to Amex. A lot of lenders will give 3X CLI after 6 months of course, just depends on your credit history when that time comes around.
As someone who's scores are still in the 600's, nabbing 4 of the best cards USAA offers in less than 8 months and all having decent CL's is my reason for hyping them, perhaps a bit more than the average person.