Searching through the many different types of credit cards and card providers is an overwhelming process. Thankfully, those who are serving or have served in the U.S. Armed Forces can apply for a military credit card that provides unique benefits available only to military members. Family members of active duty and retired servicemembers are also eligible to apply for a military credit card. Active duty military members are given extra benefits due to their unique situation. The Servicemembers Civil Relief Act mandates that credit issuers may only charge 6% interest on balances incurred before a servicemember is called to active duty. This military credit card, however, provides interest rates that are only 4% while any servicemember is on active duty, 4% for up to 12 months during any deployment, or 4% for up to 12 months upon any PCS.
Military veterans who choose this card also receive many of the same benefits an active duty member receives. A military credit card for veterans features no foreign transaction fees on purchases made in other countries, credit building opportunities, money saving balance transfers, and cash back reward programs depending upon which card you choose.