Building your credit is great but there’s actually something a lot cooler than a high credit score that comes with credit cards…. and that, my friends, is rewards points. Every time you swipe your card, you’re earning some type of reward if you choose the right one. So we’ll go through and talk about the best cards available and how they hook you up.
First thing I’m going to highlight is the fact that the Servicemember’s Civil Relief Act (SCRA) exists. For those of you that are curious about that, click HERE. Basically it protects service members from predatory lending practices and reduces interest rates on loans and debt you had before you started on active duty. However, beyond that, certain credit card companies go as far as to waive annual fees for active duty military. A good summary can be found HERE, but we’ll go through the companies with the best offers. While I’m not trying to advocate any of these companies, I do want you to be aware of the options you have available, so here they are.
- American Express: Waives annual fees for active duty military and adheres to the SCRA mandated limitation of 6% interest to balances acquired before active duty service. With cards that offer 6% cash back on groceries, $200 in Uber credits annually, and 75,000 bonus airline miles, you can’t go wrong here. Plus with the Platinum card, you get access to American Express Platinum lounges and many other benefits. Just call and inform the company that you are active duty (with a DOD ID number and orders) and they waive the fee.
- Barclay Card: Waives annual fees for active duty military. The company features a number of airline related cards with superb rewards.
- Capitol One: Waives fees on cards opened prior to military service. Want great rewards on dining out? Try the Capitol One Savor card. With 4% cash back on dining out, you can’t go wrong! Just be aware you do have to pay the fee your second year of owning the card.
- Military Star: Run through AAFES, Military Star offers 10% off of your first day’s purchases, generally offers 5 cents off a gallon of gas on post, and 2% off of all AAFES purchases. Ask about the card at your local PX. It’s great if you’re just starting out. And no annual fees!
I know I’ve only listed a few of the companies that offer rewards but I’d recommend you take a look at a few more yourself if you’re interested. Ideally, you get rewarded on every purchase you make. Personally, I have a card for every type of transaction I make. That may seem like it’s taking it a bit too far, but the rewards are worth it.
If you’re trying to get rewarded for your purchases, do yourself a favor and build your credit score so you can apply for and obtain credit cards with great rewards. With cards such as the American Express Platinum, Capitol One Savor, and many more, it’s clear that companies are competing for your business. Take advantage of these great offers today. $