Let me set up the history. I'd been a USAA credit card customer since early 2011. I never missed a payment. I was late a couple of times but ALWAYS caught up within a few days of due date. 2017 was a horrible year. I had two surgeries that kept me out of work (separate occasions, separate convalescence). I was late a few times but ALWAYS caught up.
Then, my mom had a stroke and died a month later. In that case, I fell behind twice in two months due to the ensuing chaos/grieving. It was a disruptive time not an inability or unwillingness to pay. USAA closed my account and refused to re-open it. I even offered to pay triple the past due amount (just to have an emergency funds available for unexpected events). Since I'm self-employed, there are numerous things that can interrupt my business.
USAA couldn't have cared less. I acknowledged I owed and swore I would repay (including late fees that if anyone with a finance background knows is a ridiculous ROI). USAA's response was basically "you were late on a couple of payments (literally 2 payments), screw you, you're history with us, your word, and your service".
Then, I also read (on this site and many others) the countless problems with insurance coverage. I had been thinking about changing coverage. Now? FORGET IT! One anecdote, ignore, two = ignore, hundreds = "you've been warned". USAA has successfully branded themselves as a veteran customer service organization. THEY AREN'T!!! Consider yourself warned. If you do business with USAA and are disappointed, I know I at least did my part and won't have any sympathy for you.
PENSACOLA, FLORIDA -- I was hit while stopped at red light. The other driver was ticketed and was deemed 100% at fault. I was wearing my seat belt. I received serious injuries to back including a displaced disc and a bulging disc due to accident. After a year and a half of chiropractic care and injections in my spine to relieve pain as well as taking pain meds, I was advised by my attorney that it was time to start the process of suing for my injuries. I decided not to opt for surgery as an orthopedic surgeon friend of mine told me that surgery could leave me in worst shape than I was currently in.
I was sending all bills related to my accident to my attorney since the accident. During the first sit down with my attorney he asked me if I had checked my credit any time recently. I told him no. He said I would be greatly disappointed. Florida is a no fault state and USAA was responsible for paying the first 20,000 thousand dollars of expenses in a car accident independent of who was at fault. He said he forwarded all bill he received including the ones I gave to him, and USAA had not paid the first dollars worth. He said my credit was shot big time. I told him that had to be impossible.
He then with a tone of anger that USAA was notorious for not paying. He then directed me to two stacks on a desk behind the desk he was sitting in. One stack was about 6 inches high and another over two feet high. All were cases where he had to sue insurance companies for not paying the immediate costs as required by the state of Florida under no fault insurance. He said the 2 foot plus stack was USAA insured clients and the 6 inch stack was all the other insurance companies combined. I could not believe it. He said he would send USAA notice that he was going to sue them for said costs.
Shortly after him doing so he called me and said I had an appointment to be examined by a doctor as I was being questioned as to the validity of my injuries. My attorney had collected reports from all doctors concerned and I was surprised that this was even an issue. I thought it was expected as the other insurance company was trying to deny any responsibility for my claims.
I showed up at the given time and place and was seen by a chiropractic doctor instead of an MD. He saw me for a total of fifteen minutes, examined me and told me he was finished. Some two weeks later my attorney handed me a detailed description of numerous test that had not been performed over a two hour period that stated I was in perfect health and they were denying any claims I was making and they would not pay a dime. I was in total shock.
And then I was even further in disbelief when was told that it was not the other insurance company that ordered this test, my own insurance company, USAA, that did so. They were trying to get out of paying the initial PIP payments required by the State of Florida even though they would be reimbursed by the guilty party's insurance company when the matter was finally solved.
My attorney said USAA was absolutely the worst insurance company he ever had to deal with. Shortly thereafter the other insurance company settled the claim for the price asked by my attorney, with no trouble whatsoever. USAA destroyed my credit for years to come, & tried to pay nothing even though they would be reimbursed for every single dollar paid. Needless to say I switched to the other insurance company. USAA is TERRIBLE.
SAN ANTONIO, TEXAS -- "USAA no longer deserves to represent themselves as a company for Veterans" is a statement I read on here, and I couldn't agree more. USAA Auto and Banking have gotten so big and so automated, that the "personal touch" they so often tout is just a front for a fully-automated system that none of their employees understand, let alone can work with or around. There are no longer "any humans" that can or are allowed to intervene, and they tout "guidelines" as their reasons, yet cannot say why one guideline is in effect one week, and completely different the next.
For example, I use the deposit mobile to enter my checks every week. I am a contractor, so direct deposit is not an option from my company. For the past 4 years, I have been depositing roughly the same amount every week without issue. Twice this year I am given a notification that not all of my funds will be immediately available. Call USAA to find out why, and all you get is a run-around about guidelines and "the system".
However no one can actually give you an actual reason, and there is NO ONE in banking that has the authority to find out why, give a description of what the system found, and what's worse; no way to actually file a complaint that the findings were incorrect! This happened twice to me this year, and no one seems to know why! Average daily balance has been higher than ever before, and why now all of a sudden? No one has an answer! I came to USAA as I am a proud veteran of the US Armed Forces and still serve in a minor capacity still today.
Please understand that this company is NOT a company of Veterans for Veterans. It is just another fly-by-night company that targets veterans because there is a lot of us, and no one else is targeting veterans. I have had better banking experiences with a pre-paid card. As you look at the auto department complaints on here, I have had much, much better experience, and quite honestly rates - with other companies in the past. So why stay? I PROBABLY WON'T! Biggest joke of a company targeting veterans. How shameless!
SAN ANTONIO, TEXAS -- USAA no longer deserves to represent themselves as a company for Veterans. Just read their reviews. I've been a member for 28 years and am now pulling out everything but life insurance. God I hope I don't die. Had an auto accident in December 2016. As of April 2017 we have yet to receive reimbursement. Communication is poor. They have played games throughout the whole process and have now agreed in words only to pay a very small portion of the money needed to repair the car.
Got hit by a huge city bus and they can't understand the damage and say they see rust on a well-kept Florida car that is rust-free. They insult your intelligence and stick together internally no matter how high you go. They say the police report only notes damage in rear quarter. Sad to see a former pillar becoming dust. Will be sending a letter to Florida Insurance Commissioner and Senator.
My wife was rear ended and my truck, heavily damaged. So we filed a claim with our insurance, USAA, even though we are not at fault. USAA said, "Don't worry we will handle your claim and get the money back from the fault carrier. USAA totaled my vehicle and said the rental will stop in 7 days. In that 7 days, we received 2 low ball offers to settle, 3 sets of incorrect paperwork and no money. They did manage to mail a check to my lien holder for the payoff, 3 days after the rental stopped. and there is now agreement on the value of the truck 23 day after our loss.
Then I was told by USAA the only way they will give me a fair settlement for my loss, is I have to pay out of pocket to have an appraisal done. If the appraisal is more than their offer, then I have to pay for an umpire to mediate the difference. Unbelievable. STAY AWAY FROM USAA.
Been a customer since 1982 never had a returned payment. I went to pay off a credit cards and my payment was returned because they claim the account number loaded to my profile was incorrect, although I never had an issue before. I called them and had the representative make the supposed correction and paid the bill. They charged me a return payment fee which they would not credit. Keep in mind I never had a returned payment and I've been with them since 1982.
They transferred me to a "Senior Claims Resolution" Rep who said there was nothing I could do. I said "Aren't you suppose the military?" and she said it had nothing to do with the military. Explain to join USAA you have to serve in the military or have a family member that served in the military which she conceded was correct and said there was nothing she could do and she HUNG up on me. Well they don't care about loyalty, been a member since 1982. I'm cancelling my credit cards and moving my insurance to another company.
CONNCE, TENNESSEE -- These people are incompetent to say the least and that's a compliment! They could foul up a one car funeral. DON'T TOUCH THEM WITH A TEN FOOT POLE!!! I have had auto insurance with brokers, direct with insurance companies and USAA. Believe me, USAA does not warrant consideration as a reliable provider based on my experience, and I have had a lot in my 83 years.
They have fouled up a simple claim for a totaled vehicle and cost me thousands of dollars by not honoring their own contract, and refuse to allow anyone but a dimwitted underling to talk to me. They are a completely arrogant group that will make up stories, misrepresent facts or whatever it takes to cover their mistakes no matter how factually evidence is presented to them.
That applies to the CEO to whom I have corresponded but seems to be hiding under his desk. He is an obvious fraud and certainly does not resemble the type of leader Harry Truman was when he said, "The buck stops here." He takes the cowards way out and passes the "buck" to the dimwitted underling. LET THE BUYER BEWARE!!! SHOP ELSEWHERE FOR YOUR INSURANCE.
SAN ANTONIO, TX, MISSOURI -- Please forgive any typos. I am working with a broken laptop. This is the 4th time that I have typed and lost all of my information. First round of asking for help. On 6/26/11, I walked into my home to find that it had been burglarized. I had been in and out of town, and it is an unusual case, as the police say that someone had been living in my home.
I have an insurance policy with USAA insurance. I have been through 4 or 5 adjusters; I have given way too much information about my life, I provided information from slavery, on all four sides of the family until now, as I was asked by one adjuster, and I have it in writing, "How could people of color afford such things?" and that of my February of 2008 to help care for my mother.
Janice, my mother, passed away in July of 2008. She had renters insurance in my home. My sister, Holly and I cared for my Grandmother at home until my sister moved back to Michigan to work for the Department of Commerce in October 2009. I stayed in Missouri and worked for US Bank through Kelly. After my job ended, I traveled around. I helped my sister pack up her apartment in Michigan and move to Atlanta, GA in January 2011. The home was never vacant for more than a few weeks.
I traveled back and forth between, Michigan, Georgia, and Missouri. In February of this year, my step-grandmother, who had lived in my home until she went to Beauvais, after my mother's passing (she lived in my home, until October 2009, at that point she moved to Beauvais nursing home, on Magnolia, in Saint Louis, MO) in February she passed away.
On the same date of her funeral in March, my maiden aunt, Barbara left the funeral for the emergency room, where she was diagnosed with Uterine Cancer and subsequently had surgery. She has been going through chemotherapy and my sister Holly and I have been up and down the highways taking care of her, as we both work to rebuild our lives. Again, the home was my primary residence and was never vacant for more than a few weeks. On June 26, 2011, I returned to my home to find that it had not only been burglarized, but it appeared to have been lived in.
A realtor who was selling a home down the street had a sign in our yard, with a for sale sign, with the arrow pointing to a home down the street (it gave the appearance that my home was for sale). At one point, I let the mail collect when I was caring for my aunt, and the post office put a vacant sign on the mail box. We think that this is when thieves moved in and burglarized and trashed the place.
I have neighbors who have witnessed strange people and reported this to the police on the day of the burglary and have called twice since to report people lurking about my home. My mother was an OCD neat freak and the house was so torn apart that it looks like an episode of Hoarders. I had many high-end handbags, as did my mother, lots of crystal, and jewelry. I inherited a lot from my mother and grandmother.
I have answered questions about my lifestyle, worked with USAA's insurance investigator. I have receipts for over $14,000 of jewelry that I purchased when I worked on Wall Street. I have bank statements of things that I owned, credit card statements of what my mother owned, and copies of credit cards that my grandmother had. I have provided pictures.
My sister Holly has answered questions (she had to establish that she had a home in Michigan), answer questions about what she received and why it looked like I had more (I did not, Holly's things were not stolen, mine were). My mattresses have been slashed, the fridge broken, the oven broken, thousands of gnats in my home, as USAA asked me to keep the broken fridge, as I went through 5 claims people. I thought that I provided way too much information on.
In some instances, I have the receipts for items, pictures, and have located them on the bank statements and have been asked to provide more documentation. My home is unlivable. If the city came in they would condemn it, the thieves left urine, chemicals (perhaps Meth) fecal matter, and more all over the entire house. The house was black and thick with gnats. 18 bug bombs later, millions of gnat bodies covered everything in my home, and the poison permeated everything.
And now my aunt, in addition to the chemotherapy that she is enduring, has diabetic issues, that may cause her to lose her legs. As an update, her leg was amputated, and she has since died. My sister Holly and I are her only relatives. After the tornado, here in Saint Louis, I looked at my policy and upgraded it.
USAA sent a letter to homeowners advising that we do so. I think that between what I purchased, what my grandmother and my mother left me, I had $100,000 in jewelry. I may have had $10,000-$45,000 in jewelry coverage, when I upgraded the policy, I added the jewelry on. USAA sent a letter that do to my credit. They were disallowing the jewelry coverage.
After reading my policy I pointed out to my public adjuster that this was illegal in the state of Missouri, over $20,000 in silver was taken. I may have had $10,000 in coverage, it would depend on how the multiple policies that I paid on the same residence plays out. I had a total of $299,000 for one policy of coverage for personal items and with damages. My claim may be between $270,000 - $280,000. The claims investigator is telling me everything is in the hands of the adjuster, just get in my receipts and pictures, and the adjuster is stalling that he must turn everything over to the investigator first.
I have spent me, that should have been spent on family and getting my home and life back in order jumping through hoops. I would like to retain your services, as I have made a commitment to communication with USAA Part, get everything to the claims investigator and the insurance company over the weekend. I do not want to do this all in vain. I feel like I have been violated twice. You have a good reputation on and I would like to hire your firm to assist me in finishing this claim.
I was contacted this morning, Friday, September 30, 2011 by another Claims Investigator, out of Las Vegas. This will be my 3rd claims investigator assigned to my case. To date, I have only spoken to one, Kyle, and I no longer feel comfortable communicating with the insurance company without someone on my side. I have had coverage with USAA since 2006, however, the day after the tornado in Saint Louis, I updated the policy. As you will note, I did not adequate jewelry, silver, or fur coverage. Second round of asking for help Details of complaint: My original policy began with USAA in 2007.
Since my emails to Mary the state of Missouri Department of Insurance Regulation. They have not been able to help much either way, to date, although USAA has retaliated, and although they have stalled, said they were too busy with other perils of nature, they are now trying to put me out on the street, although my home is unlivable, and put me out for Christmas and New Years. They also went in and purged much of the data off of my web account, including emails and policies. All the policies have been purged.
I purchased this home in 2005. At the time I lived in New York and had renters insurance on my New York Apartment, my mother lived in the house full time I traveled with my job and I had a policy on the house. In October 2007, my mother was diagnosed with ALS, Lou Gehrig's. My sister lived in Michigan and had a ranch style condo covered through USAA. All USAA policies held by my sister, my mother, and myself, fell under my dad, Ronald.
My sister walked away from her job to care for my mother. During that period the pipes burst. USAA paid her about $15,000 and then dropped her, and her claim, stating that there was an invoice from the cleaners that had a weight on the Unsavable clothing they returned to her. For that reason they dropped her claim, stating that she added an Unsavable clothing box, even though USAA sent her the invoices. They closed her banking account, everything. As my sister was the only one caring for my mother, she lost everything and had to declare chapter 7.
My Dad, a diehard ex-military man had USAA on his two homes and 5 or 6 cars. There was never a claim. On February 14, 2008 I walked away from my job in New York to help care for my mother. I notified USAA. In July 2008 my mother, a nurse, passed away. I notified USAA and continued to care for my grandmother in my home until October 2009. At that time my sister got a job, as the assistant manager for quality assurance in Dearborn, MI. She did not have much to move, as she lost everything to water and mold when the pipes in her home in Michigan broke in several locations.
Holly got a Uhaul and moved her things to Michigan. Holly has a lease, a business card, and paperwork, from December 2010 where the moving company picked up her furniture for storage, and then where to deliver it when she found a place in Georgia. My grandmother was 110, she loved Xmas. We left the Xmas tree and lights up from Xmas 2010 and had a special 2nd Xmas for her and my Aunt Barbara, the cancer, in February 2011.
Holly and I actually missed the first Xmas in December, we were in Michigan packing her apartment. Lena was staying in Beauvais Manor by that time, but she could come for a day home as well as my aunt who was utilizing rehab to get better. My step-grandmother is in the photo below along with how the house looked just months prior to the break in. There was a lot of sorrow. We lost my mother in July 2008, my sister Holly paternal Grandmother (who always treated me as a grandmother) six weeks later.
In October, 2008 we lost Holly's paternal Uncle. Then in July 2009 we lost Holly's paternal, youngest aunt, it was just too much. Holly's job was over, I came to Michigan for a while in April, I had been working for US Bank in Saint Louis and working through Kelly Services so I was in the home alone. Holly decided to move to Atlanta. Her things were picked up by the movers and were to be placed in storage until she found a home in Atlanta. All this information was given to USAA.
After the death of my grandmother, on the very same day as her funeral, my Aunt Barbara was diagnosed with Uterine Cancer. Literally, we left the funeral for the emergency room. My aunt had surgery. After a recovery period she was to start chemotherapy. I joined Holly, who was living at an extended stay hotel to find a home. She decided to find something that my aunt could stay in. I went to Michigan with her, helped drive the car from Michigan to Atlanta, and we looked for a place for her to live.
After finding one, we returned to Saint Louis as my aunt was starting chemotherapy or had started and I was taking her to her chemo sessions. So I was back and forth out of town a few times. I do know that in April there was a major tornado that hit Saint Louis, Missouri and ripped the roof off of the airport and left devastation following highway 270.
I received a letter from USAA about the tornadoes and asking if I had enough coverage. I really took that to heart and I changed my policy. The primary changes were for the structure of the house, but I did add a jewelry Ryder. I inherited much from my maternal Grandmother, my maternal step-Grandmother (she is the one who passed in February 2011) and my mother, as well as my own things.
I received a call asking if I was going to cancel the other policies on the home and the renters insurance. I let them know that had been canceled long ago. The customer service person indicated it was not. USAA will not send a copy of this update. I did add $40-$45k in jewelry coverage and was still woefully under covered.
I received a letter stating that due to my credit history, which took a traumatic hit during my mother's illness, the policy was changed. What I did not know was that I continued to pay for 3 policies after USAA was told time and time and time again. After the report of the theft, I was under investigation for 6 months. I was never notified officially and I cooperated spending time, that I was told that I would be reimbursed for, due to my cooperation. I was paying out of pocket for everything.
I sought assistance and got a Public Adjuster Inman and Associates, who have been a sad disappointment. It has been 18 months since my claim. Missouri law and my own policy have not been followed. Since USAA does not give money back, but gleefully took it and continues to take it, then I should have additional coverage. As credit score cannot be utilized in Missouri, my jewelry rider should be acknowledged. USAA has had a spreadsheet of stolen items for 6 or 7 months. The public adjuster and C are still ambling around on the dwelling. This is my claim and I want to replace my stolen items. I would like my ALE that is due.
This company has put such a financial strain on me that it has taken its toll on me, my sister, and my aunt, who passed away November 19. Additional family members six of seven have passed away during this time. Our Aunt was our mother's older sister. I do not want to spend another Thanksgiving (which ended up being a trek to get my aunt's body. Medicare wanted to know after her amputation that she had a place to go (prior to all of this she lived on her home). Barbara had too many steps to return to my home and it has been 18 months and Josh is in charge of stolen items.
It has been 18 months since the theft. The criminals were living in the home, they defecated, urinated, stole the motors or some workers from all 3 fridges in the home. Since it took USAA 3 months to come to the house it was filled, like a horror movie, with millions of gnats. Over 18 bug bombs were set off, there are gnat bodies and poison in everything. The police found tons of medicine boxes and pots with stuff stuck in them, I was told my home was possibly used for meth.
ARRS the restoration service deemed almost everything as unusable. Now USAA is questioning ARRS and there has been no movement on the home. Furniture that was in the home was broken and almost ALL household items placed in the garage. The gnats are back. If items were save-able, they are not now. All furniture in the home down to the dishes were purchased new when I bought the house for my mother.
Her partner and fiancé had died and this was a new beginning. The only things not new, were the dining room set, the master bedroom set and the 2nd bedroom set and one television in the basement. All other furniture was purchased in 2005 along with the carpet for the basement. Except for the China, all dishes, mixers, toaster, microwave, pots, pans dinette set, living room furniture, basement furniture and patio furniture were new. As well as all decorations.
My grandfather fought in WWII, the Korean War, and the Vietnam War. There were many heirlooms that he sent home. I had photos and I had to show what I inherited verses my sister. There was much silver, Waterford, and Japanese ivory and such, there are pictures of the items in the home, and I had to account why I had photographs of the items and the photographs were clearly years old.
USAA has put me in a financial bind. I could lose this home. I want to know why we cannot work on replacement of theft which is what I asked for from day one, the house really needs to be gutted, disinfected and fixed. I need to know how much I have in coverage since I was paying for 3 policies. I have read the policy and found all the breaches, not Inman and Associates, my public adjusters, they seem to be inept. I am begging for any assistance as rules in my policy have been ignored, Missouri law, and it is 18 months, this is crazy.
I don't want to live in a hotel anymore. I want funds immediately for replacement of stolen items and a clear answer of how much coverage I have since I was paying for 3 policies until 6 or 7 months ago. I will email all information instead of attaching it. USAA has been busy since I contacted you purging documents that have been on file since 2007. I believe Josh, the San Antonio Adjuster for USAA may have gotten rid of everything with his name on it.
My Aunt Barbara died, her memorial service was Friday, December 14, 2012 and according to Chris and his boss Kevin, USAA adjuster and his supervisor, they are trying to put me out, even though I have unlimited Dwelling, and it was USAA dragging their feet, and then on the theft, I have about $ 50,000 in replacement receipts, USAA gave me $20,000 against the theft, now Josh is saying not one more dime until the CLAIM is ESTABLISHED. What have they been doing for almost two years?
Update: USAA stopped paying for my dwelling, although I have unlimited dwelling. It has been established that from 2007-2012 I was paying multiple policies on the same home. The city has condemned the home and I am seeking a lawyer and media coverage.
SAN ANTONIO, TEXAS -- I have been a member of USAA for 26 years. I never had an issue with them. The reason is most likely due to having filed only one claim in my 26 years of membership. My view of them started changing approximately one year ago when I attempted to refinance a property through USAA.
Having been a loyal USAA member of 26 years they were the first company that I went to for a refinance loan. However, from the moment the application process started I was getting the runaround. After I initiated my application I heard nothing for weeks. When I finally called to follow up I was asked for more information for the underwriters. Now keep in mind my situation had never changed. Gainfully employed, never missed a payment of anything, yet I kept getting asked for more information.
After being asked and providing more information I heard nothing. I called every week with no success in reaching the person servicing my loan. One and a half months went by and when I refused to wait any longer, I called USAA and after some ranting and raving was told that the person servicing my load had left the company. I couldn't believe what I was hearing. Every month of delay was costing me $300 in interest that I could have been saving had they just processed and approved my loan application.
My application was then passed onto another 'service representative'. Actually two people were assigned to my loan application with the promise that they would get my loan application processed. Then the 'I need more information' game started again. The underwriters needed more information which turned out to be the same information that I had already supplied! Now it was three months since I first applied for the loan. I had it and asked if USAA would refund me my $350 application fee that I would go elsewhere. They did and I refinanced through another institution with no difficulty.
Now arriving at today - another and much larger USAA disappointment. As most of you are aware the US economy has been shaken to it's knees by the corruption on Wall Street and the reckless behavior of the banking industry giving loans to millions of people who could never afford to pay them back. Because of this the housing market imploded. Many banks have realized the hurt that has fallen on homeowners and at a minimum, yes at a minimum had allowed homeowners to refinance their homes for the purpose of getting a lower interest rate. NOT USAA!
I have a home equity loan with USAA at a 7.5 interest rate that was taken out four years ago. Now with interest rates around 4.5% many banks have worked with their customers to offer them a lower rate. NOT USAA! They refuse to offer me a lower interest rate. I never asked for them to reduce the amount that I owe only the interest rate. They offer some nonsense excuse that they cannot lower the rate because the loan is locked in! I thought every mortgage in America was locked in, yet many many banks have shown some understanding and assistance to their customers by being willing to alter conditions.
These banks recognize that these economic times are quite different than they were four or five years ago and are willing to work with their customers. NOT USAA! By given some nonsensical excuse why they cannot offer me a lower interest rate. They are quite content collector the extra four hundred dollars a month from me in interest. Straight profit to their bottom line when fully knowing that the going mortgage rates are around 4.5%.
USAA speaks a good game in regard to offering stellar customer satisfaction, but I assure you that this is one customer who has not once, but twice been horribly abused by their lacking of professionalism, followup/follow through, their greedy nature, and their total disregard for their customers. I just talked with them today about lowering my interest rate. Again not altering what I owe. I borrowed it so I will repay it.
But to hold fast to a high interest rate when the only outcome is extra money to them is inexcusable. THEY ABSOLUTELY REFUSED to lower the rate stating how they would like to work with me and help me, while at the same time refusing to reduce the interest rate on my loan.
This company is far from being customer-centric. How can they sleep at night knowing that they have the ability to instantly help a homeowner who is having trouble making ends meet and refuses simply based on the statement 'we would like to help you, but we cannot offer you a lower rate'. This is a company who seems more content putting the squeeze on their customer so they can fill their coffers with the customers hard earned money.
Just to share with you - I have called USAA four times over the past year asking for any type of relief from this high interest rate. Again while stating how informed they are regarding today's economic conditions, they are quite content sitting back and stealing hundreds of dollars from me every month and are totally unwilling to offer me any type of lower rate. I have been a loyal customer of 26 years. Now I am strongly considering going to an attorney to see is I can put some legal pressure on them. Does this sound like a company who is focused on providing quality service and products to their customers?
"Well we're sorry, but you took this loan out four years ago and locked in the rate. Sorry, we would really like to help you, but after all you locked the rate in and there's nothing we can do about it!" Give me a break. What makes USAA so different from any other bank who is willing to work with their customers. Just six months ago I approached Citibank with the same request. They altered my loan down to a 4.5% interest rate for a nominal fee. WHY CAN'T USAA DO THIS.
I'll tell you why - they are greedy and have a business model based on getting as much money from their customers as possible while at the same time telling them what a great service they provide. Fact is they couldn't care less about their customers and hang on stating vague technicalities as excuses to why they cannot help or re-work loans with their customers. They are unreasonable and unwilling to help their customers out and instead are quite content making as money as possible off of them. Stay away from USAA.
SAN ANTONIO, TEXAS -- I applied for a VA home loan from USAA thinking that they are friendly to soldiers, but find out the hard way that they are so horrible that I closed all my accounts with them and got me a new account with a local friendlier bank. They offered me an initial interest rate of 4.875 and while the rate is going down to 4.75, they called me and claimed that the interest rate went up to 5.2% and in order for me to keep this rate I will have to pay them $780 for discount points??? Discount???
The current rate is currently cheaper than what they originally quoted me and they are trying to scam $780 of hidden fees. Also they try to process the loan as slow as they can so that the contract and the lock-in of the interest rate expire, then they charge you fees to extend the lock, or they raise the interest rate on you. Also when you refuse their extremely expensive home insurance, and you shop for a cheaper and better insurance, they try to force you to buy insurance from them.
What happened to me was: I shopped around for home insurance and found a much better deal than what they offered me and it cost about the third of what they quoted me. I sent them the information to sign me up and finish the loan processing, but they waited until the day before the contract expire and then they called me and asked me to purchase insurance from them, they said we are still waiting for you to get home insurance. I replied by saying: I sent you guys the home insurance info a long time ago, what happened to that?
They first said, "We didn't get your message", and then they said, "Oh yeah we did get your message but the ins company didn't answer their phone (bla bla bla)." I took the matter in my own hands, called the insurance company and had them call USAA and fax the insurance binder to the same day. The ins company told me that USAA is used to that kind of behavior.
Another scam, is at closing, they don't give you the documents a day prior to you signing, following the regulations, they keep changing the closing documents until the last minutes, and add all kinds of unnecessary fees and charges, and they make sure that they absorb all your deposit money and meanest money. Basically at closing you will end up paying and not getting anything back as they promise you at the beginning: you will get your money back at closing don't worry about a thing, and guess what? You end up paying.
Lastly, don't fall for their Movers Advantage program, all it is, they have real estate agents working for them, they pay them commission, and in return the real estate agent will be working for them and not for you. they will add all kinds of fees to your closing cost to pay that agent their commission. They claim to give you cash back if you use the Movers Advantage program but in fact they will charge you double or more at closing.
Beware, be safe, bank with a bank who respect us and what we do for our country, and not with a scammer bank. If you need more details and advice on buying a home using a VA loan I will be happy to answer your questions and advise you, so you won't go through what I went through **. Peace.