I applied for a loan jointly with my girlfriend to see what kind of interest rate we could get on a fairly inexpensive used car that is only a year or two old. We both have credit scores close to or higher than 700 with all 3 credit agencies, combined yearly we make 15x the value of the loan, I've been a USAA member for 22 year (CC holder with them for 5), and we live well within our means.
We were very surprised (and appalled) to hear our interest rate upon approval: 13.75%!!! This included the meager discounts for using their car buying service and automatic payments. I told the lady "you have got to be kidding me" when she told me the result. USAA was supposed to be this amazing place where customer service and low rates were offered to military members and their families, a place where you could get a lower interest rate than the giant loan shark corporations would give you. Apparently they're just as bad, if not worse! All the best customer service in the world won't make me feel any better about this ridiculous rate! MY CREDIT CARD--WITH THEM-- HAS A SUBSTANTIALLY LOWER INTEREST RATE THAN THE AUTO LOAN THEY OFFERED ME!!
I received rates that were ~7% lower from both Capital One and Bank of America.
You used to be great USAA, what happened?