American Express, Chase, Citi, and U.S. Bank all waive their credit card annual fees for U.S. military service members and spouses after entering active duty service.
The laws that allow AMEX to waive the annual fees of personal credit cards only apply to active-duty servicemembers. AMEX and other credit card issuers will check the SCRA and MLA databases, which pull their information from DEERS, to verify you and your dependents’ eligibility. If you want to confirm that you and your dependents are correctly listed in the databases before you apply for the card, you can do so here for SCRA and here for MLA.
Yes, it’s a reasonably straightforward process to have your military spouse’s annual fees waived. Submit the active-duty servicemember’s orders through AMEX’s SCRA weblink. Additionally, it would be best to open your own AMEX Platinum Card, as this will allow you to double up on the signup bonus and have the fee waived as the spouse of an active-duty service member. Be sure to use your spouse’s referral link to collect additional points, and be sure to time the applications so you can meet the minimum spending required.
Unfortunately, the laws that allow issuers like AMEX, Chase, Capital One, and others to waive the annual fees of personal credit cards only apply to active-duty servicemembers. The benefits are given to servicemembers for the duration of their active duty time and should be requested from the start of your service up to 180 days after they leave active duty.
Any effects you may see on your credit will likely only be temporary if you pay off your payments each month in total. Often a tiny drop of 5-7 points in your score may be seen when opening a new line of credit will return within two months.
Most credit card points do not expire, especially the most valuable transferable currencies such as AMEX Membership Rewards or Chase Ultimate Rewards. Some airline miles do expire anywhere from 12-36 months after no activity in the program. Hotel miles tend to expire anywhere from 12-24 months after no activity, but in all cases, it can be relatively simple to keep the account active.
Generally, there are no hidden fees in taking advantage of the benefits that credit card, airline, and hotel companies give you for your service. However, there are some fees generally associated with the credit card industry to be aware of:
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- Annual Fees – Certain CC issuers waive these for active-duty military
- Late Fees for missing payments
- Cash Advance Fees
- Foreign Transaction Fees – Many Travel Credit Cards waive these fees as part of owning the card
To avoid these fees, be sure to read the credit card’s fine print carefully.
There is a learning curve to truly master and get the maximum value out of benefits afforded to military members. However, there is a lot to take advantage of that does not require any time to understand. Simply reading the articles and consuming the media contained within the website will already give you a leg up in using all of your benefits.
Using a debit card instead of a credit card that you pay off in full each month essentially leaves money on the table. When you use a travel credit card, you earn valuable points and miles every time you purchase something that you can use to fund a plane ticket or a free night at a hotel room.
Unfortunately, the answer to this question is highly subjective and depends on the individual and what kind of perks they are looking to acquire. Different cards lead to various benefits that may or may not be helpful to everyone. In general terms, however, I encourage those new to military travel hacking to look at Chase credit cards first due to their 5/24 rule. Which states you can’t have opened five new credit cards within 24 months. I encourage you to research this website and find out which cards that best suit your needs.