• Report: #550481

Complaint Review: USAA Savings Bank

  • Submitted: Wed, January 06, 2010
  • Updated: Sat, January 23, 2010

  • Reported By: Dante — Portsmouth New Hampshire U.S.A.
USAA Savings Bank
Internet United States of America

USAA Savings Bank USAA- Taking predatory lending to a new, incestuous level Internet

*Consumer Comment: USAA does not offer business products

*Consumer Comment: Consider the source and do some research.

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USAA Savings Bank was my bank for nearly 30 years. During the last five years, they offered many loans to me, all were pre-approved. I accepted them and paid them back as directed.  I have since learned that this was the tip of the iceberg in their predatory lending practices. They offered pre-approved loans to many members, whether qualified or not.  They are horrific in their customer service. They were good twenty years ago, but in the last ten years there has been a major change away from integrity and customer service. They simply abused the lending practices along with all the other banks during the mortgage boom years and are not taking responsibility. They change their credit card rates often: they are not to be trusted. I also have insurance with them. When a friend totalled my car, they gave me the WHOLESALE replacement cost. I had never even had a ticket in over 27 years of membership!  They used AUCTION WHOLESALE prices to give me the value of my car.  I had to get the consumer regulatory authorities involved in the mess.  They are horrific and amoral. Formerly for service members, they now take anyone, which is fine, but they obviously have no moral compass and no identity. 

This report was posted on Ripoff Report on 01/06/2010 04:32 PM and is a permanent record located here: http://www.ripoffreport.com/r/USAA-Savings-Bank/internet/USAA-Savings-Bank-USAA-Taking-predatory-lending-to-a-new-incestuous-level-Internet-550481. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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REBUTTALS & REPLIES:
0Author 2Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Comment

USAA does not offer business products

AUTHOR: Mary - (U.S.A.)

The person who made a rebuttal to this listed themselves as a business. I have verified with USAA at 1-800-531-8111 that they do not carry business lines at all. This includes insurance, checking, savings, credit cards, etc.  So, on what basis was the rebuttal to this post made? Please clarify.

Also, before I had a claim with this company, I had my two daughters join USAA. It was only after USAA tried to give me the wholesale value of my car after an accident and also engaged in lending which I believe to be predatory in nature.

The author of the rebuttal to this offers no personal experience, merely an opinion. That is fine, and I respect others opinions. However, when one is relating a personal experience and includes FACTS about what was offered for a value of a car which was "totalled" it is not helpful to me or to anyone else to say that USAA is a 10/10.

What claims experience have you had? Did they increase your premiums for one accident after thirty years of membership. Opinions are fine, and we all have one, but facts and a willingness to back them up are infintely more helpful to the consuming public.  Believe what you want, I have all the documentation to back up how I was treated during this claim and I have expressed a willingness to share it. 

Again, USAA does not offer insurance for your motel, so are you actually a customer or are you a past customer?  If you are not currently a member, that fact would be important as well. As I said, I checked with USAA on 1/23/10 and verified that they do not offer products to businesses, so it is odd that you would refer to your business in rebutting this complaint. 

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#2 Consumer Comment

Consider the source and do some research.

AUTHOR: Hillcrest motel - (U.S.A.)

Check references on USAA and all of its divisions and you will realize that this post makes no sense.  USAA has an outstanding reputation with Consumer Reports, A M Best ratings, Clark Howard and dozens of other organizations.  We have several accounts with USAA and find them to be outstanding in every way.  The company has reasonable prices, and has great customer service.  The online system is also outstanding.  This company would rate 10 on a scale of 10.
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