USAA Career Starter Loan Denied due to Ridiculous Charge Off

[Jimmy2e]

Good Evening,

 

I commissioned as a 2LT in the USMC this past February and was looking into taking advantage of the USAA Career starter loan as I've just found some solid employment as I await my reporting date to TBS.

 

Well, not thinking anything of it I went to USAA and applied and denied for the following reasons:

 

• Serious delinquency
• Time since delinquency is too recent or unknown
• Length of time accounts have been established

 

I was completed caught off guard as I've only ever had two credit cards and student loans. One is a Capitol one that is current and the other Macys that has no balance. Seeing this I just pulled my credit score for the first time ever and found my score to be a whopping 574 because of a Bank of America credit card charge off from 2009 to 2011 for the amount of $33. Yes, a thirty three dollar charge off with a bank I've never had an account with. Ever.

 

I am going to go into Bank of America tomorrow to sort all of this out, but there's gotta be someway to have this expunged. It's ridiculous.

 

Also, the date of the charge off was when I was at Officer Candidate School in Virginia if that makes a difference in regards to SCRA.

 

Help!

 

 

[Repairerer]

Welcome to CB, thanks for your service.

 

I have no clue with SCRA personally, and it was a good idea to post in Military in hopes of finding someone with such knowledge, but if you never had a BOA account at all this may be a more standard type fraud/mistaken identity issue. If you would like this moved to the mainstream credit forum for more views, please let us know.

[Jimmy2e]

I just got off the phone with BOA, the charge off was from an annual fee that I did not pay on a overdraft line of credit that I had applied to my sovereign bank checking account when I worked there as a banker. An employee perk was no fee accounts, but when I left I guess it came back on line. The weirdest part of all of it is that I still have the checking account.

 

Please feel free to move this over to the consumer section as well.

 

Thank you.

[Repairerer]

In that case, SCRA might apply (I don't know), so I'd like to leave this here in case any military-wise folks are checking. However, I would welcome you to also post in the main credit forum if you wish. Good luck to you.

[PotO]

The SCRA wouldn't apply to a charge off. If they sued you and obtained a judgment, it could be an issue.

 

I'd talk with B of A and, if necessary, escalate to their executive offices. I think they'll work with you on it.

[Fuerza]

As an Officer who took that career starter loan my advice is this. DON'T TAKE THE LOAN. It's really not all that great of a product. Unless you have high interest outstanding student loan debt, the loan is worthless.

[usmcofficer]

I would definitely give USAA a call if you got denied. They are really good about helping people get through things like this. I would also suggest setting up a monthly credit check with USAA. It's only like 6 bucks and you can make sure nothing like this happens again.

 

Also, congratulations on your commissioning as a Marine Officer. I hope TBS went well for you also.

[cdilisio47]

I think you should sign up with Navy Federal. They are very understanding and easier to work with than USAA. They also have some amazing programs for starting out and very generous credit lines as well. Thank you for your service.

[ICANHASMUNY?]

I really hate it when someone bumps up a years old post.

[Zanshiro]

I, too, came here wondering what was new with a post from 2013...