For active-duty military personnel and veterans, finding the right credit card can provide significant financial benefits. Many credit card issuers offer exclusive perks such as waived annual fees, lower interest rates, and enhanced rewards programs. In this guide, we’ll explore the best credit cards that cater to military members and their families.
Why Military Members Need Specialized Credit Cards
Military personnel often face unique financial challenges, including frequent relocations and deployments. Specialized credit cards can help by offering:
- Waived Annual Fees: Many premium credit cards eliminate annual fees for active-duty service members under the Servicemembers Civil Relief Act (SCRA) or Military Lending Act (MLA).
- Lower Interest Rates: Some cards provide reduced APRs, making it easier to manage debt.
- Enhanced Rewards: Military-friendly credit cards often offer higher cashback rates or travel rewards.
- Exclusive Perks: Benefits such as airport lounge access, travel insurance, and purchase protections can be valuable for military families.
Best Credit Cards for Military Members
1. The Platinum Card® from American Express
Why It’s Great for Military: The Amex Platinum is one of the best premium travel cards, and its high annual fee is waived for active-duty military members.
- Annual Fee: $695 (waived for active-duty military)
- Rewards: 5X points on flights booked directly with airlines or through Amex Travel, 1X on other purchases
- Perks: Access to Centurion Lounges, TSA PreCheck/Global Entry credit, and hotel elite status
2. Chase Sapphire Reserve®
Why It’s Great for Military: Chase waives the $550 annual fee for active-duty military members, making this a top-tier travel rewards card.
- Annual Fee: $550 (waived for active-duty military)
- Rewards: 3X points on travel and dining, 1X on other purchases
- Perks: $300 annual travel credit, Priority Pass lounge access, and comprehensive travel insurance
3. USAA® Cashback Rewards Plus American Express® Card
Why It’s Great for Military: This card is tailored for military members, offering high cashback rates on military base purchases.
- Annual Fee: $0
- Rewards: 5% cashback on gas and military base purchases (up to $3,000 annually), 2% on groceries, 1% on all other purchases
- Perks: No foreign transaction fees, making it ideal for overseas deployments
4. Navy Federal Credit Union® Flagship Rewards Card
Why It’s Great for Military: This card offers strong travel rewards and is available exclusively to military members and their families.
- Annual Fee: $49 (waived for some military members)
- Rewards: 3X points on travel, 2X on everything else
- Perks: TSA PreCheck/Global Entry credit, no foreign transaction fees
How to Choose the Best Military Credit Card
When selecting a credit card, military members should consider the following factors:
- Annual Fee Waivers: Ensure the card offers fee waivers under SCRA or MLA.
- Rewards Structure: Choose a card that aligns with your spending habits (e.g., travel, dining, or base purchases).
- Interest Rates: Look for low APR options if you plan to carry a balance.
- Additional Perks: Consider benefits like travel insurance, lounge access, and purchase protections.
Final Thoughts
Military members have access to some of the best credit card benefits available, including waived fees, high rewards, and exclusive perks. Whether you’re looking for a premium travel card like the Amex Platinum or a military-focused option like the USAA Cashback Rewards Plus, there’s a perfect card for your needs.
Before applying, ensure you meet eligibility requirements and take full advantage of the benefits offered. By choosing the right credit card, you can maximize rewards and enjoy financial flexibility while serving your country.
