I’ve been with USAA since my military days, and last week they closed my oldest credit card. I had that card for over 15 years, and it really helped my credit score because of the account age. The rewards on it weren’t great, so I hadn’t been using it much. Honestly, I didn’t realize how long it had been.
I called to see if they could give me a grace period to use the card and keep it open. The rep told me, “Well, we sent you an email.”
I said, “An email? Do you know how many phishing emails people get? I checked my secure messages, and there was nothing. No letter in the mail either. How was I supposed to know?”
She replied, “Yeah, that’s true. Sorry, but we’re not reopening the account. It’s your fault for not using it.”
This was the last straw. USAA already lost most of my insurance and credit business for other reasons, and now they’ve ruined what was left of our relationship. Really frustrating.
Even after it’s closed, it still counts on your credit report for 7–10 years, so it shouldn’t hurt your average account age that much. I’ve had similar issues with USAA. Their cards just aren’t worth it anymore.
Indigo said: @Axel
This week, Credit Karma said my Equifax score dropped almost 20 points because my average account age got cut in half.
That shouldn’t mess with your account age for 10 years, but it might lower your score because losing the credit line increases your utilization. And yeah, Credit Karma uses Vantage scores, which are not very reliable.