Pros: In 30 years, I have had good service with few issues or claims.
Cons: They cover for mistake made by their partner corporations over customer interests.
I have been a member of USAA since 1981 and they cover my mortgage, home insurance, auto, banking and credit card. Most of the time I have had few issues and they have responded promptly.
Now comes an issue with my mortgage payment in July. Their "trusted partner" in the mortgage area, PHH mortgage services, received my payment plus extra principal on July 1. However, it was not processed until the 6th of July AFTER they withdrew my mortgage payment from my banking account so I basically paid 21/2 mortgage payments in July.
After calling PHH customer services and speaking to a representative and his supervisor, I received NO explanation where my money was for 5 days. Next I was refused when I asked to speak with the next supervisor so I went to USAA Mortgage Services Customer Relations.
So far after wrangling with them for over a month, I still get the cover up for their "trusted partner," [they use that term EVERY TIME they refer to PHH Mortgage Services like it was some kind of mantra.] and still have no explanation why my money was not processed for 5 days. They either screwed up or are using mortgage payments in short term markets for additional profit. Now I am being ignored.
It would seem on THIS issue, USAA is not better than the major banks. The raw greed in this country is disgusting.