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1 User Review
LAST UPDATED: March 19th, 2021

USAA launched in 1922. For over 90 years, USAA has served members of the military and their families by offering financial services including retirement, banking, investments, and insurance. Members receive wide variety of financial benefits including competitive APRs and rewards programs. Consumers will need to qualify in order to utilize USAA services.

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The Good

  • Apply Online
  • Personal Loan Calculator

Apply Online

Applying for a loan with USAA can be completed online through the website. There are no application fees associated with applying and in most cases, USAA can provide customers with a decision as soon as the application process is completed. Consumers will love the speed with which they can receive funding. In most cases, funding can be made available in as little as one business day.

Personal Loan Calculator

USAA provides consumers with a personal loan calculator. It allows customers to apply the desired loan amount with specific interest rate and loan term length providing an idea of what consumers can expect their monthly payment to be. This tool is a great way for consumers determine a realistic loan amount for their needs.


The Bad

  • Poor Online Transparency
  • Poor On-Site Customer Reviews

Poor Online Transparency

USAA provides consumers with little to no information on potential loan terms available. This includes a lack of information on typical interest rates, loan amounts, and loan terms available for consumers. The website fails to answer these basic questions in regard to personal loans. This makes it difficult for consumers to get a basic understanding of the company as well as financial services consumers can expect to obtain through USAA.

Poor On-Site Customer Reviews

USAA allows consumers to review their experience applying for a personal loan through USAA. Many of the reviewers discuss a very negative experience working with USAA stating difficulty in obtaining a personal loan through USAA for a variety of reasons. Many of the reviewers had been loyal USAA customers for several years with no history of poor credit. These reviews indicate that despite the quick application process, actually obtaining a loan through USAA may be very difficult.

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The Bottom Line

USAA has been offering financial services to military members and their families for more than 90 years. The website lacks transparency on any information that may help consumers determine if USAA is a good fit for their personal loan needs. It is also concerning that many of their consumers are dissatisfied with the level of service they have received. While USAA may be a good fit for some consumers, we feel that several competitors may offer customers more when it comes to obtaining a personal loan. 

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Holly Schafer Forest Grove, OR

USAA is really good and quick with personal loans. They have a pretty set interest rate. The services are good and the people are understanding and willing to help you. My only complaint is they need a lot of information and they don’t always telling if they receive it.

2 years ago