Credit Card Benefits for US Military And Spouses

There are many bonuses and perks offered by credit card issuers to active duty military members. Some credit cards for active duty soldiers, sailors, airmen, and Marines reduce annual fees, cap interest rates, and/or offer money back for purchases up to a certain amount.

You may find some credit card companies offer these on a case-by-case basis or by request only, while others may advertise these perks as an ongoing feature of their credit programs. But did you know that in addition to programs a credit issuer may voluntarily offer, there are federally-mandated perks that all credit card companies must offer a service member on active duty when requested?

The Servicemembers Civil Relief Act (SCRA) And Credit Card Interest Rates

The SCRA mandates a 6% interest rate cap on loans you took out before starting active duty. This cap is described at the United States Department Of Justice official site as a limit to the amount of interest charged on “certain financial obligations that were incurred prior to military service.” This limit is “no more than six percent per year, including most fees.”

The caveat is that the cap is not automatic, must be applied for with the credit agency, and must be applied for with all credit card companies you wish to claim your SCRA rights with. You will be required to provide a copy of military orders and a formal notice in writing.

There is also a time limit on these notices-you have until 180 days after the end of military service to file the notice. The U.S. Department of Justice notes that when you file your notice, the creditor is required to fully forgive, rather than defer until later, the amount of interest greater than six percent per year.

The interest rate must be forgiven retroactively, and the credit card company is not allowed to engage in any practice that results in “…accelerating the payment of principal in response to a properly made request for a six percent interest rate cap.”

» MORE: See our full review of the American Express Platinum Card® for Military

What You Should Know About Military Credit Card Benefits

Viewed from a certain perspective, a great deal of the American economy involves two kinds payments; those that are known up front, and those that are part of what some call “gotcha” tactics.

A gotcha tactic can be anything from a sudden increase in your interest rate due to one or more missed or late payments that is applied as per the agreement you make with the creditor – often this increase potential is spelled out in detail only in the fine print of the agreement, which some people choose not to read closely.

But “gotcha” tactics also work in the other direction – you may be eligible for discounts, lower rates, cash back on purchases, and other perks, but these will not be applied automatically and are generally not advertised. You have to ask for the perks, but before you can do so you have to know to ask for them.

Military credit card benefits are not standardized. You may be required to be on active duty for a minimum amount of time (30 days is one standard), and you will be required to furnish proof of service and possibly evidence that your military service commitment is for a minimum time or that you are about to re-enlist.

Some of these requirements will vary from lender to lender, except where the SCRA laws apply.

Some credit card companies are more generous than others with their military benefits, and some credit card companies have a reputation for liberally interpreting your SCRA rights, offering more than the law requires when such rights are claimed. American Express is one company that has earned a positive reputation in this area.

Remember, you will generally be required to request or sign up for these credit card perks, they are not automatic.

Credit Card Benefits For Military Members You Should Ask For When Signing Up For A New Credit Card Account

Here is a list of perks that are offered by many credit card companies to their military customers – if you are not currently enjoying some or all of these perks, it’s a very good idea to call your credit card company to request the following, especially when opening a new account:

• No annual fee for military members
• Cash back incentives for military members
• Cash back programs specifically for military-related expenses such as moving, uniforms, etc.
• No overseas transaction credit card fees for military members
• Incentives for electronic payments or automatic electronic payment transfers
• Waived or reduced credit card cash advance fees for military members
• Lower APR interest rates for military members
• No over-limit credit limit fees
• No penalty APR interest rate adjustments for late payments
• Any special perks or incentives for deployed service members or families of deployed service members
• Special “reserve cards” for military members and/or family members

» MORE: The American Express Platinum Card offers strong benefits for Military

Which Credit Card Companies Offer The Best Military Credit Card Perks, Bonuses, And Incentives?

Opinions may vary, but one of the best things military members and their families can do to get military-oriented credit card benefits is to apply for credit cards from a military or military-friendly company such as USAA, Navy Federal Credit Union, or the company currently servicing your government official travel charge card.

Other credit card companies, including Chase Bank, Bank of America, American Express, and Capital One, have historically offered perks and military credit card benefits.

Third-party websites rate Capital One as having less of an advantage than the others, but Capital One credit cards have reduced both annual fees and overseas charge fees for active duty military members. It’s always best to call to inquire about the most current military-friendly credit programs available.

American Express Benefits for Military

American Express offers valuable financial protections for military members through the Servicemembers Civil Relief Act (SCRA) and Military Lending Act (MLA), extending relief on fees and interest rates across a range of its cards, including the Blue Cash Preferred® Card, American Express® Gold Card, and American Express Platinum Card®. These cards provide servicemembers with access to top-tier rewards and benefits while benefiting from military-specific protections.

The Blue Cash Preferred® Card is known for its exceptional cash-back rewards, offering 6% back on eligible U.S. supermarket purchases (up to $6,000 per year) and 3% back on eligible purchases at U.S. gas stations, making it a strong choice for military families. With military protections, cardholders can enjoy these rewards without the worry of high fees or interest rates.

The American Express® Gold Card delivers valuable rewards on dining and groceries, including 4X Membership Rewards® points at U.S. restaurants and supermarkets (on up to $25,000 annually). Combined with military relief, this card allows military members to earn rewards on everyday purchases while receiving benefits tailored to their financial needs.

The American Express Platinum Card® offers an elevated experience with premium travel perks, such as airport lounge access, hotel upgrades, and annual statement credits for travel expenses. With SCRA and MLA protections, military cardholders can unlock these luxury benefits without the typical financial strain, making it an excellent choice for those who want to maximize travel rewards and services.

American Express’s commitment to providing military relief ensures that servicemembers can make the most of these powerful cards, taking advantage of top rewards programs and exclusive perks while benefiting from reduced fees and interest rates as part of their military protections.

Chase Benefits for Military

All Chase personal credit cards are offered with no annual fees for active duty military servicemembers and their spouses. The top two choices are the Chase Sapphire Preferred or card_name cards. The main difference is that the Preferred offers 10,000 more sign up bonus points while the Reserve offers a recurring $300 annual travel credit. The Chase Sapphire Reserve also features:

• annual_fees annual fee (and $75 authorized user fee) completely waived for US military and spouses
• bonus_miles_full
• Earn 5X total points on air travel and 10X total points on hotels and car rentals when you purchase travel through Chase Ultimate Rewards® immediately after the first $300 is spent on travel purchases annually
• Earn 3X points on other travel and dining & 1 point per $1 spent on all other purchases
• 1:1 point transfer to leading airline and hotel loyalty programs
• Access to 1,300+ airport lounges worldwide after an easy, one-time enrollment in Priority Pass™ Select and up to $100 application fee credit for Global Entry or TSA Pre✔®
• Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more

(See Rates and Fees)

Important Advice About Signing Up For New Credit Cards

• When signing up for a new credit card, be sure to check the application to see if there is an option to choose your source of income. If so, always select “military” or “government” as your income source where available. This may go a long way toward helping you claim your military credit benefits from the very start.
• Check to see if your existing or new credit card provider offers a special hotline for military customers.
• Read the fine print on all your credit card accounts. Know under what circumstances you will be charged added fees, fines, penalties, etc. even as a military customer. Don’t assume that you will be exempt from late charges, interest rate increases, or other actions based on late or missed payments, going over your account limits, etc. When you sign the legally binding agreement for your credit account, you will be subject to the rules you agree to. Know before you sign.
• Not all credit is billed the same; the interest rate and terms of repayment on a credit card cash advance may be different-and higher-than for ordinary purchase transactions. Know what you are agreeing to before you use the features of your credit account that result in cash back to you from the credit card company.
• Know the terms and conditions-what perks apply to your account while serving on active duty, and which will continue if you retire or separate from military service? Ask these important questions before they become a real-world issue.
• Be sure to ask how much advance notification the credit issuer requires before you leave active duty.

To see the rates and fees for the American Express cards featured, please visit the following: Rates and Fees.

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