May 2019 Complaints Against USAA

Compiled from Public Data by FairShake

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In 2019, the CFPB received 1354 complaints against USAA. USAA ranked Number 23 among all financial companies for the most complaints.

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Complaint Details:

Date of Complaint: May 1, 2019


State: TX

Product: Credit card or prepaid card
Sub-Product: General-purpose credit card or charge card

Issue: Other features, terms, or problems
Sub-Issue: Other problem

Full Complaint:
XX/XX/XXXX, I submitted {0.00} with my application for a ” USAA Secured Card Platinum Visa card. ” The card was received with a letter stating ” … more ways your card is working for you : — helping you build/rebuild your credit. ” My credit limit is {0.00}. The CD matures XX/XX/XXXX.

XX/XX/XXXX, I rang USAA, and spoke with ” XXXX. ” She informed me that ” closing the CD would close my credit card. ” XX/XX/XXXX, I received a letter from USAA stating ” your CD … will soon mature. If no action is taken, your account will automatically renew in a CD with a similar term. ” XX/XX/XXXX, I rang USAA, and spoke with ” XXXX. ” He restated what ” XXXX ” had previously said. I was then transferred to ” XXXX ”, who was *supposed* to be a ” credit card specialist. ” In fact, ” XXXX ” is in the ” new accounts ” department. She stated that there is no procedure whereby my account could be ” graduated ” OR ” converted ” to an ” unsecured card. ” Furthermore, my {0.00} CD will be applied directly to the outstanding balance. It is worth noting that the cumulative amount of interest paid on my CD ( as of XX/XX/XXXX ) = {.00}!!!

My payments have been made on a timely basis, automatically withdrawn from the same checking account, are usually above the minimum amount, and my balance has NOT exceeded {0.00}. Closing my account will negatively impact my credit score — contrary to the very reason I opened the account in the first place!!!

In contrast ( XX/XX/XXXX ), I submitted {0.00} with my application for a ” XXXX XXXX Secured MasterCard ”, and a credit line of {0.00}. XX/XX/XXXX, I was notified that my credit line had been INCREASED to {0.00}. I rang XXXX XXXX, to confirm that a mistake hadn’t been made. I was informed that they proactively review accounts, my account was ” in good standing ” and my payment history justified the increase.

Upon receipt of the notification from USAA, I once again rang XXXX XXXX. ” XXXX ‘ ” informed me that the CD security is held for the ” life of my card. ” However, XXXX XXXX ALSO proactively reviews accounts, my account *can be* ” upgraded ”, and the CD released to me.

Had I been advised that my {0.00} would be held indefinitely, I would NEVER have opened an account with USAA. Furthermore, 2 years is most certainly sufficient time for USAA to recognize my credit ” worthiness. ” Indeed, XXXX XXXX made such a decision after only 6 months!!!

USAA is, once again, engaging in unconscionable predatory practices. Reference prior CFPB complaint XXXX, wherein a ” defender hold ” was placed on my payment for 10 days, and I was accused of ” money laundering. ” I have been a USAA member for 29 years, and am currently facing a lose-lose proposition. My credit rating will be irreparably damaged.

USAA ‘s ( current ) slogan is ” good enough is NOT good enough. ” Indeed, USAA is NOT EVEN ” good. ”

Complaint Tags: Servicemember

Company response:

Response Type: Closed with explanation

Public Response:
Company believes it acted appropriately as authorized by contract or law

FairShake accessed this complaint from the public archives of the Consumer Financial Protection Bureau (CFPB). You can file your own complaint with the CFPB here.