Date Received: 2015-04-06
Issue: Taking out the loan or lease
Subissue:
Consumer Complaint: Last week I applied for a used car loan at my financial institution, USAA. I asked for a loan up to {$15000.00} but also told the loan processer at USAA that I hoped I would need a loan for less than $ 15K after we finished negotiations on the car. I was quoted a rate of 2.75 % for this loan. After concluding negotiations with the owner of the vehicle for the sale at {$13000.00}, I gave the owner my personal check for {$1000.00}, so the remainder needed for a loan was {$12000.00}. I called USAA to execute the loan, but was told that for any amount less than $ 15K, the interest rate would be higher than 2.75 %. Because of the higher rate, I complained and spoke to several different people in USAA 's loan department, resulting in rates quoted from 4.75 % down to 3.2439 %. They still refused to give me the rate originally quoted of 2.75 %, even though I have a screen printed from their website showing the 2.75 % rate for my loan. They claimed that if I would take the $ 15K ( or higher amount ) loan, I could still get the 2.75 % rate, but for any lesser amount, the rate would be higher. This makes no sense at all, since their risk for a smaller loan amount is less than with the larger loan amount. This is nothing more than a classic " bait-and-switch '' tactic. If this was a disreputable loan shark, I might understand their tactic, but for USAA, I did n't expect such dishonorable and dishonest behavior. They should be prosecuted for their " bait-and-switch '' tactic to the fullest extent of the law.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: SC
Zip: 29651
Submitted Via: Web
Date Sent: 2015-04-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2015-04-06
Issue: Credit decision / Underwriting
Subissue:
Consumer Complaint: On XX/XX/2015 I applied for a mortgage with USAA. Due to my income to loan ratio, I was told that I would have to receive approval from their underwriting department, which could take up to 3 business days. I asked if there was any way to expedite the process because the sellers would like a Good Faith Estimate (GFE) as a guarantee of creditworthiness, and the mortgage representative said there was no way to make the process go faster. On XX/XX/2015 I was called by a USAA Mortgage Representative stating that their underwriting department was wondering if there were more assets that I have available, to which I gave them my XXXX information. I was then told it could be up to another 3 days for a decision. Again I told the representative of my situation and that I had already waited 2 days, to which I didn't think I should have to restart a 3 day wait again. He again reiterated there was no way to make the process go faster. On XX/XX/2015 I was notified of my loan approval. I asked to lock in a 3.625% rate program on a 30-year conventional loan, which she said she did. I was informed they would be sending out my loan paperwork and GFE via XXXX. I asked the representative to make that GFE available electronically so that I could send it to the sellers of the house I was trying to purchase. The representative told me she would make the information available via USAA's electronic documents system. On XX/XX/2015, the documents were still unavailable on USAA's electronic document system, however they arrived via XXXX and incorrectly showed a 3.25% interest rate with over $13,000 in origination and discount fees that I had never asked for, nor agreed to. At approximately XXXX Arizona time, I called USAA to ask what was going on. A mortgage representative verified that I had locked in a 3.625% rate and that new documents would be sent to me by XX/XX/2015. I informed her that I needed a GFE to give to the sellers and this was already taking 4 days longer than it should have. I asked her to either send the documents electronically or via fax. She state that contrary to what was told to me the previous day, mortgage documents cannot be sent electronically, and that the department that sends our faxes had already gone home so they could not accommodate my request.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: AZ
Zip: 85024
Submitted Via: Web
Date Sent: 2015-04-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2015-04-03
Issue: Account opening, closing, or management
Subissue:
Consumer Complaint: A couple of months ago I received a letter from USAA indicating that I owed some money and my account was past due. I called them to indicate that there has been an identity theft since I never opened the card nor was in possession of the card. Over the past few months I have called them several times to address the issue. Every time, it seems as though they are doing something about it but they arent and I find that they are simply having the collection agents harass me about the money. There is no mention of what they have done to investigate the identity theft and what their conclusion was. When I call identity theft department at USAA, they hear me out for a few minutes and either put down the phone or connect me back to collections. It is extremely unprofessional and I have not seen this with any of the credit agencies or banks that I have dealt with. At a minimum, i would have expected them to take note of the details, investigate it and get back to me on why they think that I was the one to open the account or atleast let me know the outcome of their investigation. I think there has been a presumption on their part to conclude without adequate investigation that I was the one to open the card. USAA I am told is typically open only to people either in the military or relatives of military. I have NO connection to the military and it seems like they did n't even bother to check this fact before issuing the card to whoever was impersonating me. I think the burden of proof should be on them to show me the documents to conclude that I opened the account. I even told them that I have a filed a police report and was willing to provide them with the report number. They did n't bother with it since they have pre-concluded without any investigation. I was told that the domain of the email address which was used to open the account was " XXXX ''. If they use a little common sense, that would be the first indication that it is a fraudulent account or atleast give me a chance to hear me out and take my complaint seriously. It has been extremely frustrating since they seem extremely unprofessional in the way they are going about this issue. I have been thrown around from one department to another and there is no transparency on what is going on. When I first reported it, they seemed to take down all the details but a few weeks later, they indicated no record of it and asked me to repeat the story again. I did and someone pretended to file a report and gave me a case number XXXX with the promise of some outcome in 5-7 business days. When I called them after a week with the case number, they simply were trying to transfer me back to collections. I feel I have no recourse as a consumer as I have no way of knowing what they are investigating and what they are concluding. I seem to be at their whim and they are holding me to ransom for their negligence in not verifying some basic credentials such as signature and proof of military. I think they need to be held liable for their negligence.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 95054
Submitted Via: Web
Date Sent: 2015-04-03
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: No
Date Received: 2015-04-03
Issue: Unsolicited issuance of credit card
Subissue:
Consumer Complaint: I applied over the phone for a credit card that was advertised on USAA website as a 1.5 % cash rewards credit card. I think it was a new product at that time, so when I called to apply the lady had trouble finding the specific XXXX I wanted, but after a few minutes on hold she came back and said that she had found the 1.5 % cash back World MasterCard that I wanted to apply for. We went through the application process over the phone and at XXXX other times throughout the conversation I verified that this was the 1.5 % cash rewards card. I was put on hold again XXXX of these times and the worker came back to the phone and said yes, this is the 1.5 % cash rewards program card. After a few days I got the card in the mail and it was just the plain USAA World MasterCard, not the 1.5 % cash rewards card. I already had a 1 % rewards card from them. So after several unsuccessful phone calls to their executive resolution people, I sent a consumer dispute form to them detailing that I wanted the card removed from my credit history and deleted, not cancelled. ( I was told over the phone multiple times that the only thing I could do was cancel the card, but I will not do this because it lowers your credit score from my understanding to have an account opened then closed within a month period. ) They contacted me and said they could not do what I wanted by removing the inquiry from my credit history because I did authorize application and that I would have to cancel the card and re-apply. I authorized application to the 1.5 % and not the card they gave me, so I believe it is their responsibility to remove the application from my credit history.
Company Response: Company believes the complaint is the result of a misunderstanding
State: WV
Zip: 249XX
Submitted Via: Web
Date Sent: 2015-04-03
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: No
Date Received: 2015-04-01
Issue: Other
Subissue:
Consumer Complaint: USAA did not follow procedures when they processed and disbursed convenience checks on a credit card individual account I had where my ex-wife forged my signature and took money from there causing a balance. For the past year I have been in contact with USAA calling and going to the branch.I started the process to buy a house with my now wife and realized they credit account still showed a balance. I went several times to USAA since.I requested the convenience checks that showed my ex-wife handwriting. She NEVER had a power of attorney or authorization to use that account. My ex-wife was hiding all this even from the court during the divorce and custody and diverted the correspondence so I did not find out about this. This person committed tax evasion as well and I have proof of that plus other things she did where she forged my signature and used my social security without authorization. I informed USAA of the issue and suddenly in XXXX I receive a cancelation of debt ( form XXXX ) from USAA stating that shows the balanced owed as canceled. They are still reporting to the credit bureaus a balance on the account.I went with my now wife to USAA and was connected with their call center to request a letter that states the balance is cero in the account due to the cancelation of debt. The representative stated that they indeed sent a cancelation of debt but technically I still owe the money. I told them there is no way I can still owe something they have written off for the fraud they allowed when my ex-wife forged my signature and in their notes is like that. They are trying to claim a lost and also keep me in their books like I still owe what they have canceled. I believe that is also fraud!
Company Response: Company disputes the facts presented in the complaint
State: TX
Zip: 76542
Submitted Via: Web
Date Sent: 2015-04-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2015-03-31
Issue: Delinquent account
Subissue:
Consumer Complaint: I had a credit card with USAA bank and defaulted on the card. I called USAA bank to settle and they told me that I cant because they wrote it off as bad debt and they sent me a XXXX back in 2013. They sent it to an old address.I requested a copy but they still are reporting a balance on all XXXX credit bureaus.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: XXXXX
Submitted Via: Web
Date Sent: 2015-03-31
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2015-03-30
Issue: Managing the loan or lease
Subissue:
Consumer Complaint: In XX/XX/XXXX I became XXXX payment delinquent on my auto loan with USAA. Upon returning to work in XXXX I called and made arrangements to pay XXXX payment and portion of the past due amount until I was current. In XX/XX/XXXX {$120.00} was applied to late charges despite my intent and misleading statement from the representative who assured me it was their process to apply payments in this manner anyway. When I realized what had happened I spoke with another representative on XX/XX/XXXX who told me this would be corrected my requesting a misapplied payment reversal. Once again the payment I made on XX/XX/XXXX a portion - {$26.00} was applied to a late charge and the reversal that was promised did not happen. After a conversation on XX/XX/XXXX in speaking with a very rude representative and her manager, they basically stated the policy is they always apply to late charge prior to allowing the consumer to pay to past and future payments. I stated this was unfair and deceptive, they stated I had no recourse ; but to accept this. In going through my pay history in order to allow these fees to accumulate there has to be a variation of this policy ; but they would not consider it. At the end of the day applying in the manner that they claim is " policy '' allows the bank to continue to incur fees on top of fees because it would take the consumer a lengthier time to become current.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: VA
Zip: 23112
Submitted Via: Web
Date Sent: 2015-03-30
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: No
Date Received: 2015-03-26
Issue: Delinquent account
Subissue:
Consumer Complaint: I am being called by USAA credit card services XXXX times a day regarding a credit card debt. They call on weekends, Holidays, and sometimes at XXXX at night.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: XXXXX
Submitted Via: Web
Date Sent: 2015-04-01
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2015-03-26
Issue: Closing/Cancelling account
Subissue:
Consumer Complaint: In XXXX of 2015 I opened a credit card account with USAA because my Dad is a XXXX XXXX and I thought it would be a could company. My credit is good but a few bumbs but good enough to get loans. I was approved a {$4000.00} limit. A month or so later I opened another card with them that had a better interest rate it was also {$4000.00} limit. Both cards we almost maxed out but I had had many purchases being bought and returned. So it was always changing. I have worked very hard to keep my credit good and keep it get getting better. I made XXXX payment with them and then after I applied for an auto loan with them and was approved. Bought the car and was told that they suspected fraud and declined my loan after already giving me a blank check. XXXX. Who does that. I was approved through the dealer instead with no problem. I called USAA and they said all my cards were closed but would not tell me why. I said permanently? They said yes. They said it was because they were new and that they were almost maxed. I said isnt that the point ti use them? I have not been late with a credit card for over XXXX years. My problem is that they should not approve credit and expect you not to use it. They should not close your cards with out telling you why. They should not be able to affect your credit report when you have never been late or abused any cards in the past XXXX years. I have work very very hard improving my credit. This is not fair when I have not done anything wrong. They can keep their cards I could care less. I am paying them off asap. But I dont think they should XXXX my report with a status of closed when I did nothing to break the contract.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 94703
Submitted Via: Web
Date Sent: 2015-03-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2015-03-25
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: We purchased our current home while in the process of selling our previous home. Because our closing on our new home was prior to our closing on the old home, our down payment was only 8 %. XXXX months after closing on our new home, we closed on our old home and proceeded to pay an additional {$90000.00} on our new home. Our LTV became approximately 67 % of the loan value and less than that based on the appraised value. I thought that PMI would " roll off '' as we were well under the 80 % threshold. To be sure, I called our lender, USAA, and requested removal. Over XXXX days past the date of the request and when I was told it would be reviewed but " should not be a problem given the LTV '', I received a letter stating that a new appraisal was needed and that I should complete an application and send a check. However, no application or appraisal cost data was supplied. Further, the current appraisal, which was performed for closing, was less than XXXX months old and USAA 's own home value monitoring service placed my home value at {$30000.00} above appraisal. I called USAA and they insisted that the home value had declined in my area significantly and that they needed a new appraisal - despite results of the " service '' they are providing me for home value monitoring. They then stated that XXXX was an investor in my loan and was requiring it independent of USAA. They then stated that USAA was requiring it because it was standard procedure when a loan is " seasoned '' less than XXXX years. I specifically discussed with my loan processor our situation of having the XXXX homes at once and discussed with her prepayment penalties, PMI, etc. and her assurances all along were - that will be no problem. In my response emails, I referred USAA to the federal reserve guidance for the removal of PMI, which states that : '' A borrower may initiate cancellation of PMI coverage by submitting a written request to the servicer. The servicer must take action to cancel PMI when the cancellation date occurs, which is when the principal balance of the loan reaches ( based on actual payments ) or is first scheduled to reach 80 percent of the " original value, '' XXXX irrespective of the outstanding balance, based upon the initial amortization schedule ( in the case of a fixed rate loan ) or amortization schedule then in effect ( in the case of an adjustable rate loan ... '' Original value is also defined in the guidance as " '' Original value '' is defined as the lesser of the sales price of the secured property as reflected in the purchase contract or, the appraised value at the time of loan consummation. In the case of a refinancing, the term means the appraised value relied upon by the lender to approve the refinance transaction. This guidance clearly states that " [ t ] he servicer '', which would be USAA, must take action to cancel PMI when the cancellation date occurs, which is when the principal balance of the loan reaches ( based on actual payments ) ... 80 percent of the " original value. '' The definition of original value ties directly to the loan amount or the appraisal conducted at loan consummation and does not appear to require a new appraisal to " confirm '' those. USAA, however, remains steadfast in their assertion that I must pay approximately {$370.00} - {$400.00} for a new appraisal despite how current the most recent appraisal is and the guidance provided above. I believe that this is a violation of my rights and federal reserve requirements.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: TX
Zip: 787XX
Submitted Via: Web
Date Sent: 2015-03-25
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: No