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I encourage all my fellow active duty members to follow the same course. For more information on our advertisers, see here. While other credit card issuers may waive fees for active military, they may apply these benefits to credit cards acquired prior to active duty. All Chase personal credit cards are included for Military benefits; here are some of the most popular that we recommend. © 2019–2020 Black Card LLC. There is a balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater. Its $450 annual fee will be waived by Amex, so you can use its rewards and benefits for free under the SCRA (as long as you avoid interest charges). You’ll get those additional 20X points because this card comes with automatic Hilton Honors Diamond status, which is the highest possible elite membership tier. Chase Bank serves nearly half of U.S. households with a broad range of products. The Platinum Card® from American Express The Military Lending Act limits interest rates and associated account fees to a maximum of 36% APR on credit cards secured while on active duty. Get a mortgage, low down payment mortgage, jumbo mortgage or refinance your home  with Chase. Other fees may apply. But some cards are designed for bad credit, including secured credit cards. I just got their response back to my request and they rejected the annual fee waiver. All fees waived, including the annual fee. After that, the variable APR will be 13.99% – 23.99%, based on your creditworthiness. See, never recommend carrying balances on credit cards. Check out our picks for the Best Reward Credit Cards.
Bottom Line: While all credit card issuers adhere openly to the SCRA and MLA laws, American Express, Chase, and Discover deliver benefits beyond the law’s minimum requirements. Note that you must be a member of these organizations prior to applying for their credit cards. If you’re working to reduce a balance on a high-interest-rate card, you may want to consider a credit card with an intro APR offer on balance transfers. Qualifying service members who have a balance on their account when they enter active military duty will only be charged a 4% APR for that existing balance for the rest of their qualified period of active duty. The Global Entry credit is also a nice perk that reimburses you when you pay for your application or renewal with your Platinum Card®. Loan services offered through Credit Karma Offers, Inc., NMLS ID# 1628077 | Licenses | NMLS Consumer Access .

Every detail of your card reflects excellence and represents the exclusivity of your membership. For rates and fees of the Blue Cash Preferred® Card from American Express, please click here. A grandfather clause, as originally stated last fall, would be a logical choice. You’ll need to apply for SCRA benefits, you won’t get them automatically. That’s an excellent offer to find because most other secured cards don’t come with any rewards at all. This card is very rewarding, offering plenty of Hilton Honors points when you spend with Hilton. And with no annual fee to pay thanks to your military benefits from Amex, the cash back you earn will be all profit. The information related to Hilton Honors American Express Aspire Card has been collected by Credit Card Insider and has not been reviewed or provided by the issuer or provider of this product. Let’s take a look at our recommendations for the best credit cards for military and the associated card benefits.

Are you on active duty, or will you be soon?

If you plan to keep the card you apply for indefinitely, you’ll want to select a card that delivers ongoing benefits you’ll continue to use once you’re required to pay the annual fee. In some cases you’ll see that the issuer only provides the basic SCRA terms, while others will go further by waiving annual fees or other fees, or providing interest rates even lower than 6%. Citi posted and then credited the annual fee back to a 0 balance on the following month. That’s a lot of cash back, but you’ll also get benefits and statement credits that can be worth hundreds of dollars every year.
Yes, if you qualify, Chase will waive the annual fee and other account fees for active military.

Open a savings account or open a Certificate of Deposit (see interest rates) and start saving your money.

A cap of 6% APR for any credit card debts owed before entering active-duty military service (debts incurred after beginning active duty are subject to the regular APR).


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