USAA

[sixpack]

USAA took another step backward today as they are eliminating the Limitless 2.5% cash back credit card.  Replacing it will be a Preferred Cash Rewards Visa paying 1.5% cash back.  USAA is slowly turning into any run of the mill bank.  

[nsplayr]

3 minutes ago, sixpack said:

USAA took another step backward today as they are eliminating the Limitless 2.5% cash back credit card.  Replacing it will be a Preferred Cash Rewards Visa paying 1.5% cash back.  USAA is slowly turning into any run of the mill bank.  

Yea I saw that too and was pissed. Guess the last day I’ll use that card is 31 Dec 22! It also makes me rethink moving my entire banking/insurance business elsewhere since I was keeping my direct deposit in my USAA checking specifically to take advantage of that limitless 2.5% cash back card.

They can pay Gronk and run a shit load of ads but that extra 1% cash back that was a great benefit for using their premier card really was tipping them into the red so it’s gotta get cut 🙄😡

Edited March 8, 2022 by nsplayr

[sixpack]

Just now, nsplayr said:

Yea I saw that too and was pissed. Guess the last day I’ll use that card is 31 Dec 22…also makes me rethink moving my entire banking/insurance business elsewhere since I was keeping my direct deposit in my USAA checking specifically to take advantage of that limitless 2.5% cash back card.

I've been considering switching all banking over to Navy Fed to get a little interest in the cash i have in my checking and savings accounts.  This is probably going to make me transfer everything and just use USAA for vehicle/personal property insurance.

 

[ViperMan]

Just noticed this today myself and have set a reminder for Dec '22 to get myself set up with some other bank that offers the 2% unlimited cash back reward (the best I've been able to find). This was literally the only thing USAA had over and above all other banks out there. Now, they don't.

They can waive bye-bye to my direct deposit $$$.

[bfargin]

The Chase Amazon card has 2% on certain things and 5% on anything bought from Amazon and whole foods. A great deal if you buy from Amazon, and a decent deal if you don't. No annual fee. I use it more than my USAA card.

[FLEA]

Im actually considering moving off USAA when I separate. One of the main advantages of USAA is the ability to pick up your banking and just go anywhere but as I'm about to settle with some permanence I can't really see USAA offering bounds more than most other banks now. 

[Sua Sponte]

7 hours ago, FLEA said:

Im actually considering moving off USAA when I separate. One of the main advantages of USAA is the ability to pick up your banking and just go anywhere but as I'm about to settle with some permanence I can't really see USAA offering bounds more than most other banks now. 

Navy Fed has been great. I only use USAA for insurance now since they’re still cheap for me.

[TheNewGazmo]

Just dumped USAA for auto and home owner's insurance after almost 20 years. Went with Geico for auto and a local company for home owner's. I never had a problem with USAA for insurance and I always thought they were really great but I'm saving $1,000 a year between the two of them. That was way too significant for me to pass up the same, if not better coverage.

[nunya]

21 hours ago, ViperMan said:

Just noticed this today myself and have set a reminder for Dec '22 to get myself set up with some other bank that offers the 2% unlimited cash back reward (the best I've been able to find). 

Where are y'all seeing the end of the 2.5%?  I plan to go with Fidelity's 2% if/when my 2.5% goes away.

 

Edit: Nevermind, found it in my wife's documents.  Card's in her name.  Well I guess I'll join the ranks of moving my main bank from USAA.  

Edited March 10, 2022 by nunya

[Sua Sponte]

Anyone insure an electric vehicle (e.g., Tesla Model 3) with USAA? For a clean record and being a member for 22 years the rates I'm getting compared to State Farm are insane.

[TMFan]

Their life insurance quote came out at double the premiums of Navy Mutual. Then, they ended up deferring me altogether because I have a trip planned to Germany in a few months, which currently has a COVID-based travel advisory (as does most of the world). Another nail in the coffin for USAA.

[sixpack]

1 hour ago, Sua Sponte said:

Anyone insure an electric vehicle (e.g., Tesla Model 3) with USAA? For a clean record and being a member for 22 years the rates I'm getting compared to State Farm are insane.

How insane we talkin here? I’m about to be in the same boat with the new Hummer EV. 

[nsplayr]

3 hours ago, Sua Sponte said:

Anyone insure an electric vehicle (e.g., Tesla Model 3) with USAA? For a clean record and being a member for 22 years the rates I'm getting compared to State Farm are insane.

I do but I haven’t compared prices…maybe I need to move that higher on the priority list.

[kaputt]

1 hour ago, sixpack said:

How insane we talkin here? I’m about to be in the same boat with the new Hummer EV. 

I think it’s mostly Tesla rates that are jacked up because of the morons falling asleep or banging chicks while on “autopilot”. Don’t think it has to do with it being an EV. 

[Sua Sponte]

2 hours ago, sixpack said:

How insane we talkin here? I’m about to be in the same boat with the new Hummer EV. 

State Farm wants $942 for six months with $250/$250 comprehensive (w/glass)/collision  deductible. With USAA they want $1410 for six months for similar coverage.

[uhhello]

8 hours ago, kaputt said:

I think it’s mostly Tesla rates that are jacked up because of the morons falling asleep or banging chicks while on “autopilot”. Don’t think it has to do with it being an EV. 

Repair costs are quite a bit higher on Tesla’s I’m sure 

The average annual cost to insure a Tesla Model 3 — $2,215 — is nearly 40% higher than the average national cost of car insurance, according to NerdWallet's analysis. Tesla says its own insurance can save drivers 20% to 30%, but policies are currently available only in Arizona, California, Illinois, Ohio and Texas.

Edited March 13, 2022 by uhhello

[slc]

What's the battery life like on these EV's.  10yrs? 15?  Also, I've heard these are pricey to replace.  

[uhhello]

3 minutes ago, slc said:

What's the battery life like on these EV's.  10yrs? 15?  Also, I've heard these are pricey to replace.  

According to Elon Musk on Twitter, Tesla car batteries are supposed to technically last for 300,000 to 500,000 miles, which is 1,500 battery cycles. That's between 22 and 37 years for the average car driver, who, according to the Department of Transportation, drives about 13,500 miles per year.Dec 3, 2021
 

those numbers are actually a bit low from the unbiased sources. 

[slc]

Wow, that is impressive.  I assumed far less

[daynightindicator]

The batteries will degrade gracefully, so even after 10/15 years, you will only typically lose 8-12% of your total range.

Tesla has an 8 year battery warranty (at least that’s what mine have had), I usually sell before then.

Oh and USAA coverage for my Model S is about $1400/year - might be time to look elsewhere!

[icohftb]

Was looking at term life insurance. Any got recommendations for companies other than USAA?

[Sua Sponte]

2 hours ago, daynightindicator said:

The batteries will degrade gracefully, so even after 10/15 years, you will only typically lose 8-12% of your total range.

Tesla has an 8 year battery warranty (at least that’s what mine have had), I usually sell before then.

Oh and USAA coverage for my Model S is about $1400/year - might be time to look elsewhere!

USAA wants that for a Model 3 for six months with a clean record. Of course that’s in Colorado, which has insane insurance rates due to the Front Range getting the most amount of hail in the U.S.

[Guardian]

Was looking at term life insurance. Any got recommendations for companies other than USAA?

The nice thing about USAA is when you cease being in the military they will match your sgli coverage if you had coverage with them already up to but not exceeding the amount of SGLi allowed or the amount you originally had with USAA. So if you have 200,000 for $20 a month and you leave the mil then USAA will allow you to pile on another 200k for total $4 a month. The original rate you got it at.

If you have 500k USAA say for $30 a month. Then when you leave the mil and if you had a 450k you can increase it up to the 450 for original rate. So like 950 for $55

Just an example to show you what they at least used to do.

I’m not a fan of present day USAA. But it’s hard to go away from them if you previously locked that in.

[FDNYOldGuy]

1 hour ago, icohftb said:

Was looking at term life insurance. Any got recommendations for companies other than USAA?

If you 100% stick to TERM and don't let them hose you into a ***Universal/Whole/Variable/or some other version of a policy that costs more for less coverage under the guise of crappy returns***, you can just go to any local insurance broker near you that has a good reputation and they can hunt for the best rates for you across multiple companies. They have a strong vested interest to sell you one of the policies besides term (WAY higher commissions), but if you keep them on track and stand your ground that you JUST WANT TERM and nothing else, they can usually provide some good options.

They should give a breakdown sheet of each company's quote and, mostly for you, you want to look at their Moody's/S&P rating along with pricing. Those ratings are a decent guess at the company's health; hence its ability to pay out your policy. So, don't just go for the cheapest; look for one with As or Bs for ratings. 

It's been awhile since I messed with this stuff/went shopping and insurance isn't my forte, but it should still be similar.

If you want to go to individual companies and do the shopping for yourself, just look for companies with good ratings and names you've probably heard of: Mass Mutual, Northwestern Mutual, Met Life, New York Life, TransAmerica, Prudential, Allstate, etc.

Jimbo's BDS69 Insurance of America may have great rates, but they might not be around to pay your policy out when the time comes, so don't go too cheap.

Good luck in the hunt!

(***for the record, these types of policies CAN have a place in a basket of investments...they're just usually way down the list behind other boxes to check first before going this route)

[Guardian]

Don’t use anything but term. Dave Ramsey has a lot to say about that and companies he recommends for it. People who sell other than just term take a large percentage of what you pay in.