January 2020 Complaints Against USAA

Compiled from Public Data by FairShake

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The US government’s Consumer Financial Protection Bureau (CFPB) collects complaints against financial companies.

In 2020, the CFPB received 1592 complaints against USAA. USAA ranked Number 27 among all financial companies for the most complaints.

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Complaint Details:

Date of Complaint: January 29, 2020


State: CA

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

Issue: Struggling to pay your bill
Sub-Issue: Credit card company won’t work with you while you’re going through financial hardship

Full Complaint:
I contacted USAA and told them I had a change in my income status and requested for them to negotiate/change terms because right now they have my MINIMUM payment at {0.00} a month.

I told the Executive Resolution Team that I am experiencing hardship due to loss of a job, pay cut and that the debt is simply spiraled out of control requesting forbearance to allow me to make smaller payments or no payments at all for a limited-time. USAA told me I would need to go into a delinquent status before they would negotiate.

I then contacted the Financial Improvement Team ( FIT ) however they were not genuinely focused on helping members who are struggling with debt and credit situations and told me I would need to default in order to receive services.

Since XX/XX/XXXX, I have taken preventative actions to manage my USAA account by asking for help so I could PREVENT default.

USAA refused to offer – Temporary hardship plans – These plans are typically set for 6 or 12 months. USAA refused to reduce my account to 2 % of my current balance. USAA refused to address the interest rate and reduce to anywhere from zero to 9 %. USAA refused to waive fees and penalties and refused to offer me a pre-plan arrangement. I asked for the preventative plan months prior in XX/XX/XXXX to have some type of temporary payment relief that I need as a XXXX XXXX Veteran.

USAA refused to offer any long term hardship programs – when I asked USAa to freeze the account and close the account – USAA stated it would not as I had a checking and membership. USAA refused to provide me with payments amortized o

ver 5 years ( 60 months ) which would be similar to the temporary plans of 2 to 2.5 % of the current balance set as your monthly payment. USAA acts like a bank and does not provide hardship options to for militar
y members and their families.

I then filed a XXXX complaint against USAA Federal Savings Bank on XX/XX/2019 – Complaint ID # XXXX USAA refused to waive or reduce the minimum monthly payment. USAA refused to remove past late fees or implement any hardship plan to reduce the overall debt. USAA does not want to provide me with an option to pay off the balance in a shorter time frame. USAA understands that my circumstances have change which have impacted my money and I am not bringing in enough to meet the current monthly obligation of {00.00} a month MINIMUM payment which is ridiculous.

I am facing longer -term financing challenges and USAA has made it clear that it does not want to offer me options to PREVENT mismanagement of my account, to PREVENT mis-payments or any negative marks going on my credit report. USAA has made it clear it wants my credit card account delinquent before they will work with me. Instead of providing military members with options that will PREVENT harm.

USAA did not help me by offering preventative options when I repeatedly asked for help. USAA has turned into a predatory lender that wants to bring harm to its military members who dedicated time, commitment and service to protect the freedoms of this great nation. I couldn’t believe USAA was not open to any hardship payment plans or agreements.

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.