USAA Credit Card?

[devilwhiterose]

I currently have an American Express credit card with a 29% interest rate. I have a large sum of money on there and paying it off is almost useless because the money I pay always ends back up as the same amount charged for the interest.

I noticed USAA has a low interest and you can transfer your credit card balance...

Has anyone ever done it? Is it a good idea?

Thoughts?

I'll never get this American Express card paid off... I hate them.

[Amy]

I think it would be a good idea with that interest rate, yeah. I don't have any credit cards though so I don't know what the process would be.

[guynavywife]

I love the usaa card.

Also, call Amex and try to renegotiate your interest rate. Tell them that your options are to keep making payments at a lower interest rate or default on it.

[devilwhiterose]

Well, I clicked apply (just to peek) and I'd have to put it under my husband's name but get an additional card for myself.

I can do it...but darnit...I don't want his name on a card. He's a spendthrift...

I could always hide it...

[devilwhiterose]

Originally Posted by guynavywife I love the usaa card. Also, call Amex and try to renegotiate your interest rate. Tell them that your options are to keep making payments at a lower interest rate or default on it.

what do you mean by default on it? What's that mean?

[Amy]

If you're trying to pay off the card, I would cut up any cards you receive and just focus on making payments.

[devilwhiterose]

Originally Posted by Amy If you're trying to pay off the card, I would cut up any cards you receive and just focus on making payments.

Oh definitely. I haven't used the thing in a year. I'm done and overwith on credit cards.

I'm trying to pay off the couple trips to Cali to visit my husband last year and the moving expenses from relocating to NC from WI...

[SammaJamma]

I have a USAA credit card and it was maxed out for a while but got it paid off but I still keep the card becaused you never know when an emergency will pop up and I LOVE USAA..I even get cash rewards from it last year I got almost 100 bucks back!

[soozq]

Originally Posted by SammaJamma I have a USAA credit card and it was maxed out for a while but got it paid off but I still keep the card becaused you never know when an emergency will pop up and I LOVE USAA..I even get cash rewards from it last year I got almost 100 bucks back!

:ditto to loving the USAA cash rewards card. Mine is currently getting paid of the next two paychecks. Then it's the focus on student loans.
Aaaanyways.....
I would call USAA about transferring the balance. You will have to supply your DH info, but it won't be with his name. my card only has my name (hahaha--he can't touch it!) I am not so sure how transferring balances went, but their rates were better than expected.

[devilwhiterose]

Well, I looked into it, and luckily enough, DH called me today so I brought it up... He didn't care and said, "Whatever, I trust your judgement."

I opened it up online and everything is all approved. I already have a credit limit established and my number! Amazing what you can do online... I can transfer my balance from American Express up to my limit on the USAA card. I'm so excited! The APR with USAA is 9.9%!!!!!!!!! That MAKES MY DAY!!!

I can't wait to burn my American Express card... The thing is seriously a bad card.