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Author: IrvHamlin Two stars, 250 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 37587  
Subject: USAA Credit Cards Date: 8/27/1999 5:34 PM
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YellowHammer mentioned several days ago that he had obtained a reduced interest rate on his USAA card of 8.25% with no annual fee.

Since I've had their cards for a good while now, I called to check my rate. I found that they have two banks which issue their cards: one in San Antonio and one in Las Vegas. The one in SA has to operate under TX law and the lowest rate allowed is evidently about 12.5%. If you switch to the LV bank, they can go to prime rate plus 1%, which currently makes a total rate of 9%. This rate will vary up and down as the prime varies.

Some time ago they attempted to switch a number of cards to LV but received A LOT of outcries from cardholders since switching entails the issuance of new cards and new card numbers. That apparently bothered many members. The bottom line right now is that you can probably get the 9% rate(assuming a good payment record) but you will have to ask for it and may have to change card numbers.

They will also be having some promotions regarding this in the next few months but probably will not hit every cardholder since there are now about a million.

I have always stuck with USAA because of the excellent service, including cases where you may have a problem with some vendor trying to rip you off.

FWIW, the number to call is 1-800-922-9092.
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Author: TMFRunkle Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 833 of 37587
Subject: Re: USAA Credit Cards Date: 8/27/1999 6:02 PM
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Some time ago they attempted to switch a number of cards to LV but received A LOT of outcries from cardholders since switching entails the issuance of new cards and new card numbers. That apparently bothered many members. The bottom line right now is that you can probably get the 9% rate(assuming a good payment record) but you will have to ask for it and may have to change card numbers.

I remember now - I had the lower rate USAA card. It had an annual fee, but I was carrying a balance and the fee was worth it. Since I don't carry a balance anymore (lots of hard work paying off that credit card debt) - I switched back to the 12.5% card, which has no fee. Each time you have to get a new card.

George

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Author: kaigun Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 835 of 37587
Subject: Re: USAA Credit Cards Date: 8/27/1999 7:09 PM
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I seem to recall that there was either a fee (waived the first year) or that the rate was only good for the first year. When I spoke to someone who had that card, I recall thinking that it was not such a great deal, and so kept with my 12%. I have all my balances on low rate cards (3.9 to 6.9) and pay off the USAA (with grace period) month to month.

Kaigun Chusa

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Author: YellowHammer Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 842 of 37587
Subject: Re: USAA Credit Cards Date: 8/28/1999 3:11 PM
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YellowHammer mentioned several days ago that he had obtained a reduced interest rate on his USAA card of 8.25% with no annual fee.

<snip>

Some time ago they attempted to switch a number of cards to LV but received A LOT of outcries from cardholders since switching entails the issuance of new cards and new card numbers. That apparently bothered many members. The bottom line right now is that you can probably get the 9% rate(assuming a good payment record) but you will have to ask for it and may have to change card numbers.

Interesting. I can verify that my card was switched from TX to NV and I did indeed get a new CC number, but IIRC that happened before I called and requested the lower rate.

And just to clarify, the lower rate I was given does technically have an annual fee ($39 I believe), which I got them to waive for a year. When the year's up, I'll call 'em back and get it waived again, or I'll simply cancel the account and transfer the balance. I've used this "technique" on several occasions over the years and only had one bank (Citibank) refuse to waive the fee. So I followed through on my threat and haven't done any CC business with them since.

Yellow sends ...

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