The Mac Utopian
Las Vegas,#2Consumer Comment
Sun, March 08, 2009
I have been a member of USAA for over 30 years. I also had a credit card with USAA Federal Savings Bank. In 1993, I was laid off my job and was unable to pay the credit card debt, which was $2,400. When your in financial dire straits, you cut back and do what you can to feed your family. USAA charged off the debt, and I was punished by having to deal with this charged off debt on my credit history for seven years. I continued to use USAA for my insurance, and I even have my Roth IRA still with the Bank. Then last year, I received the same letter as described above, stripping me of all access to my accounts, and USAA telling me that they will no longer insure my vehicles, until I pay the credit card debt of $2,400. Folks we are talking about a debt that was charged off 16 years ago! Can I afford to pay the $2,400 now? Absolutely. I got back on my feet and I am doing very well. Will I pay it? Absolutely not! This debt was on my credit for seven years? Why? Because that's the punishment we as consumers get when we don't pay a debt. Did I deserve it? Absolutely, and I paid the price in higher interest rates over the years. And if USAA would have done this at the time, I could have accepted this. But to take my insurance money and IRA money for the next 16 years, then one day pop this on me? Its disgraceful, and extortion. I have moved my Homeowners insurance to Country (which was actually cheaper), I have moved my vehicle insurance to Geico (which was cheaper), and I have moved my IRA to another bank. Screw you USAA. After 30 years, it is I, not you, who no longer wishes to do business with you. Good riddance.
Tina
San Antonio,#3UPDATE Employee
Tue, October 21, 2008
USAA is one company. If you're too ignorant to realize that you can't blow off your credit card and still expect your other accounts with the SAME COMPANY to be okay, then you probably can't read this rebuttal either. Get a life and stop blaming a financial institution for your own mistakes.
Be Truthful
G,#4UPDATE Employee
Sat, September 13, 2008
If you've been irresponsible with your finances then sorry, but yeah what would you expect...?