Which Issuers Waive Annual Fees & Other Perks For Military Families

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Credit Cards waive annual fees for military

Which Credit Cards Waive Annual Fees for Military? Here’s a Look.

I previously highlighted American Express and its program for military members’ benefits. However, other banks’ credit cards waive annual fees for military, and some do other things while not waiving annual fees. Policies vary by credit issuer, so let’s look at the differences.

SCRA Recap

Financial protections for the military fall under The Servicemembers Civil Relief Act of 2003. The law covers military in times of active duty, meaning those who are full-time and those who are Reserves / National Guard during times they’re called to active duty. The law also covers spouses during these times.

Cards that waive fees for military

These Credit Cards Waive Annual Fees for Military

There is a caveat to the SCRA. Not everything is free. According to the letter of the law, these benefits are meant to help military members with debts taken on before entering active duty. That’s key, because some issuers have different policies for cards you opened before going on active duty vs. cards you opened while on active duty. Here’s the breakdown:

American Express

  • Types of Fees Waived: annual, over limit, late, returned payment, ATM & duplicate statement request
  • Interest Rate Perk: 6% APR on balances prior to active duty
  • Cards Opened While on Active Duty: Included
  • How to Claim SCRA Benefits: Call 1-800-253-1720 or apply online
  • Learn More

Capital One®

  • Types of Fees Waived: All fees
  • Interest Rate Perk: 4% APR on balances prior to active duty PLUS 1 year after leaving active duty
  • Cards Opened While on Active Duty: Included
  • How to Claim SCRA Benefits: Call 1-855-227-1645 or apply online
  • Learn More

Chase

  • Types of Fees Waived: All fees
  • Interest Rate Perk: 4% APR on balances prior to active duty
  • Cards Opened While on Active Duty: Included
  • How to Claim SCRA Benefits: Call 1-877-469-0110 (here are their instructions to apply)
  • Learn More

Citi

  • Types of Fees Waived: All fees
  • Interest Rate Perk: 0% APR on balances prior to active duty
  • Cards Opened While on Active Duty: Not included
  • How to Claim SCRA Benefits: Call 1-877-804-1082 (here are their instructions to apply)

U.S. Bank

  • Types of Fees Waived: all fees
  • Interest Rate Perk: 6% APR on balances prior to active duty
  • Cards Opened While on Active Duty: Not included
  • How to Claim SCRA Benefits: Call 1-800-934-9555 (here are their instructions to apply)

Cards that waive fees for military

These Credit Cards Do NOT Waive Annual Fees for Military

Other issues do not waive the annual fees on credit cards for military members, but they may offer other perks. These can included reduced interest rates, certain types of other fees being waived, etc.

Bank of America

  • Types of Fees Waived: none
  • Interest Rate Perk: 6% APR on balances prior to active duty PLUS 6 months after leaving active duty
  • Cards Opened While on Active Duty: Not included
  • How to Claim SCRA Benefits: Call 1-877-345-0693 (here are their instructions to apply)

Barclays

  • Types of Fees Waived: all transaction fees
  • Interest Rate Perk: 0% APR on balances prior to active duty
  • Cards Opened While on Active Duty: Not included
  • How to Claim SCRA Benefits: Call 1-866-918-5212

Discover

  • Types of Fees Waived: late, over limit
  • Interest Rate Perk: 5.9% APR on balances prior to active duty
  • Cards Opened While on Active Duty: Included
  • How to Claim SCRA Benefits: Call 1-844-337-4645 or apply online

Wells Fargo

  • Types of Fees Waived: none
  • Interest Rate Perk: 6% APR on balances prior to active duty
  • Cards Opened While on Active Duty: Not included
  • How to Claim SCRA Benefits: Call 1-855-872-2932 (here are their instructions to apply)

Special Note About Financial Institutions With Military Ties

Banks like USAA (who I bank with), Navy Federal Credit Union, Pentagon Federal Credit Union (AKA PenFed) and others have strong ties to the military already. Among the 3 of them, there’s a total of 1 credit card that has an annual fee to start with. The pro-military perks at these financial institutions go beyond the normal scope, but their welcome offers are not on par with what we look for in this hobby.

Final Thoughts

Many credit cards waive annual fees for military members and their spouses. Others do not. Any fees not listed as waived will still fall under the normal policy of the bank. It’s important to note that the SCRA language does not obligate banks to waive fees of any type, only to cover other things like APR, rights to certain protections from foreclosure, etc. Policies vary greatly by bank, so this information should help you understand the offerings from the most common credit issuers in the points & miles hobby.

5 COMMENTS

    • So are mine. Interestingly, when I notified them in 2014 I was leaving the military, they never reset my APR on the card I had open at the time. It’s still 0% APR. However, their process seems spotty. They waive the fees pretty regularly, but I couldn’t get anything in writing that confirms this policy across the board.

  1. Oh wow! I belive i may have opened it up just before that date in 2017. Im about to call right now and see if they can waive my IHG cards. If so I’ll open up one of their premium cards. Thanks!!

  2. What is “all fees” does that included everything besides the annual fee? I had experience with Chase I have both IHG cards but Chase will not waive the annual fee on cards obtained after active duty. Same experience with Citi I had the Prestige card but closed it after the denied waiving fees. Hands down AMEX is the best I have 7 different premium AMEX cards annual fees waived.

    I never knew about capital one maybe I’ll give them a try by opening a card with them

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