CD Rates

[powayseller]

Thanks for hs for recommending USAA to us. Does anyone have a bank rating for them? I wonder if we can ask the bank to give us the rating. If the bank is highly rated, wouldn’t they want to give us a free Weiss report to prove their solvency?

[JES]

This USAA deal is truly an unadvertised special. I’m a member and went online and even logged in there is no mention of it in the rates disclosure. Gave them a call and this rate applies for the first 6-months and is 5.17% plus and additional 1% for six months, bringing it to 6.17%.

USAA is a GREAT company and I cannot say enough good things about their services. Have had them for investments and insurance for years and always been impressed, to the point where I can honestly say that they are the best company I have ever worked with in my entire life, by far! This applies to insurance as well. It is widely known in military circles that USAA insurance is the best, perhaps a bit more expensive but absolutely no hassle on claims etc. You usually get paid more than your loss, and they never deny you a claim. I believe one reason for this is their primary clientele – military families and members. Generally stable, trustworthy etc., therby reducing risk. (they used to only accept military officers and SNCOs) I’m not sure if you can even join if you don’t have an affiliation right now?

Here’s an online thread about this deal:
http://bankdeals.blogspot.com/2006/08/usaa-bank-update-and-extra-1-rate.html

Here’s some ratings on USAA:
http://www.bizjournals.com/sanantonio/stories/2003/11/03/daily10.html

http://www.findarticles.com/p/articles/mi_m0EIN/is_2005_June_13/ai_n13809944

http://www.fastcompany.com/magazine/99/open_customer-usaa.html

[hs]

JES. I totally agreed.
We have been members for many years and so far I don’t have negative things to say about them. I usually call them for help and most of their representatives are friendly and helpful. They told me their banking service is open to the public, so anybody can open an account with them.

[JES]

That’s great and what a good rate. I’ve just been so impressed by USAA like you said. I called today and as always they answered right away, first ring this time. I’m so happy with them that i’ve even looked for a job at their company this past year!

Forgot to add that they have free financial advisors as well…at least if you have an investment account. Not sure if they will work with someone who just has a banking acct.

[CardiffBaseball]

Didn’t USAA stop taking non-military members at the end of June? I was under the impression from following creditboards.com that one had to get a member ID and get an account open before the end of June.

Otherwise they were going back to a Military only model. Currently only military members qualify for their well respected automobile insurance. I have heard they are tired of having two tiers of customers (mil, vs. non-mil). For instance the mil credit cards get 0% balance transfers and lower interest rates.

Of course I could be wrong about all this.

I have used USAA for checking since around 99-2000, and can’t imagine switching. I have a Credit card, and will probably do all auto loans with them.

[sdrealtor]

CardiffBaseball,
A little off topic, but the house on Playa Riveria is in escrow and sold in about a month once they hired a realtor. Asking price was down to around $689K.

[JES]

One thing to consider is that you can join if you have an affiliation with the military. I may be wrong, but for example if your grandfather or mother were in the Army and were members you can join.

[hs]

Cardiff, you are right. In June, they told me they were open to the public.

I just called them a minute ago and they said they just closed their service to the public starting on July 1st because they are overwhelmed and they need to concentrate on military members.

[Critter]

I think JES is right. I join awhile back and my father-in-law had been in the military so we got in that way with renter’s insurance. After I got divorced I was able to use all of their other services (credit card, insurance, etc) because I had that prior affiliation.

[CardiffBaseball]

sdrealtor, yes I saw that the house sold. I’d be interested to know if there were any incentives or lower prices.

The realtor he hired worked it pretty hard, as I saw him walking up and down the surrounding area passing out fliers, working open houses, etc. Good for him. Also he must have advised to lower the price.

The owners wound up with a lot less cash in the end assuming they sold at 689 and paid 6% but as long as it was bought some time back they are good.

[sdrealtor]

I think they did great to get it sold. Its a very tough market and that is a tough street to sell in the hottest of markets

[Author]

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