As a member of the US military, you make sacrifices every day to serve our country. So it makes sense that you’d want to maximize the financial benefits available to you. One such perk? American Express waives fees military members pay on many of their credit cards. And these aren’t just any credit cards, either; they’re some of the most coveted premium cards on the market. This guide will explain everything you need to know about this valuable perk so you can decide which Amex card is best for you.
You might be surprised to learn how much money this can save you over the life of your card membership. The benefits are significant, so read on to ensure you don’t miss out.
Table of Contents:
- Understanding Military Financial Protections
- Which AMEX Cards Offer Military Fee Waivers?
- Additional Considerations and FAQs
- FAQs about AMEX Waives Fees Military
- Conclusion
Understanding Military Financial Protections
Before jumping into specific Amex cards, it’s important to understand the laws that protect military members financially. These are the Servicemembers Civil Relief Act (SCRA) and the Military Lending Act (MLA). Both acts protect active-duty military personnel, their spouses, and eligible dependents.
Servicemembers Civil Relief Act (SCRA)
The Servicemembers Civil Relief Act (SCRA), established in 2003, covers credit or debt you acquired before entering active duty. Let’s explore some benefits this act provides.
- Capped Interest Rates: The SCRA limits interest rates on pre-service debt to 6%, including credit card interest and fees.
- Protection from Default: Provides legal protection from things like eviction or repossession while on active duty.
- Contract Termination: Allows for the termination of certain contracts, such as cell phone or car leases, without penalty when military service requires it.
Keep in mind that to get these SCRA protections, you’ll need to reach out to American Express directly and provide the necessary documentation. Check with American Express to make sure you fully understand the steps required.
Military Lending Act (MLA)
While the SCRA benefits debts you had before your military service, the Military Lending Act (MLA), established in 2006, protects service members from predatory lending. It places a cap on interest rates and fees for loans taken out during active duty service, generally at a 36% Military Annual Percentage Rate (MAPR). The MLA is designed to protect you while you are actively serving.
Some key protections of the MLA include:
- Interest Rate Cap of 36% MAPR: The MLA limits interest rates and fees on most consumer loans, including payday loans, auto title loans, and some credit cards, to a maximum of 36% MAPR.
- Protection from Certain Lending Practices: Bans lenders from requiring service members to submit to mandatory arbitration or give up their legal rights. It also prohibits lenders from requiring service members to waive important legal rights as a condition of getting credit.
- Mandatory Disclosures: Requires clear and easy-to-understand information regarding loan terms and costs, making sure military members can make well-informed decisions.
In the case of American Express, most of their cards already fall under the 36% MAPR set by the MLA. However, this act also explicitly names annual membership fees as part of the “interest.” American Express chooses to simplify this by waiving many annual fees outright.
Which AMEX Cards Offer Military Fee Waivers?
American Express waives fees military members pay on many of their consumer credit and charge cards when you enroll in MLA benefits. They do this for both credit cards opened before (SCRA) and during service (MLA). Keep in mind they review eligibility individually.
Make sure you clearly indicate your military affiliation during the application process so they can correctly classify you in their systems. Also, review American Express’s dedicated resource page for the latest information. Let’s dive deeper into specific Amex cards you may find beneficial.
The Platinum Card® from American Express
Let’s start with a favorite – The Platinum Card® from American Express. This card usually comes with a hefty $695 annual fee, a cost easily justified for frequent travelers, as it comes with a long list of luxury perks (terms apply, see rates & fees).
These include but are not limited to:
- Airport Lounge Access: Access to over 1,400 airport lounges around the world, making those long layovers far more enjoyable. Think Centurion Lounges, Delta Sky Clubs (when flying Delta), and Priority Pass Select Lounges. Remember, terms apply, and you will need to enroll in Priority Pass.
- Statement Credits: Potentially get up to $600 or more in credits toward qualifying purchases from airlines, Uber, Saks Fifth Avenue, and even TSA PreCheck or Global Entry (enrollment may be required for some of these, so check those terms.).
- Travel & Shopping Protections: This includes travel insurance, trip cancellation/interruption coverage, baggage insurance, and purchase protection, ensuring you are covered on those globetrotting adventures.
Military members can take advantage of all this for an annual fee of $0, a terrific benefit of AMEX waives fees military policy.
Other Top Amex Cards
Even if the Platinum card isn’t your speed, AMEX offers plenty of other credit cards you may want to explore. Here are a couple of other Amex cards that provide great military benefits.
American Express® Gold Card
The American Express® Gold Card usually has a $250 annual fee (terms apply, see rates & fees) but can offer considerable savings for those who dine out frequently or utilize ride-sharing services.
It offers credits like these:
- Up to $120 in Annual Dining Credits: Get $10 monthly in statement credits at qualifying restaurants—this could easily offset a large chunk of the annual fee. You will need to enroll to get this credit each year, so don’t forget.
- Up to $120 in Annual Uber Cash: Use your card with Uber in the U.S., and get up to $10 back each month, which can add up. Similar to the dining credit, you need to enroll each year, so set a calendar reminder if needed.
On top of credits, you’ll also earn Membership Rewards® on your purchases: 4X points at restaurants and U.S. supermarkets, 3X on flights booked directly from the airlines or Amex Travel, and 1X points on everything else. You can transfer these points to numerous frequent traveler programs and even redeem them for things like gift cards or statement credits.
Hilton Honors American Express Surpass® Card
For those interested in Hilton Honors rewards and hotel perks, the Hilton Honors American Express Surpass® Card might be right for you (terms apply, see rates & fees). Earn 12X points on eligible purchases at participating Hilton hotels. Earn 6X points for each $1 at U.S. restaurants, on purchases at U.S. supermarkets, and at U.S. gas stations. Enjoy a complimentary night reward upon account opening and each year after you renew and spend $15,000 in eligible purchases.
Take advantage of Hilton Honors Gold Status with this card. Upgrade to Diamond status by spending $40,000 on purchases each calendar year with your Hilton Honors American Express Surpass® Card. If the annual fee seems like too much after leaving service, consider switching to either the Hilton Honors American Express Card, which doesn’t have an annual fee, or the Aspire Card (terms apply, see rates & fees).
Here is a table outlining AMEX credit cards for Military members.
| Credit Card | Annual Fee | Welcome Offer | Key Benefits |
|---|---|---|---|
| The Platinum Card® from American Express | $695 (see rates and fees) | 80,000 Membership Rewards® Points after spending $8,000 on eligible purchases on the Card in your first 6 months of Card Membership. | Airport lounge access; numerous travel credits toward airlines, Uber, Saks Fifth Avenue, and Global Entry or TSA PreCheck; travel and shopping protections. |
| American Express® Gold Card | $250 (see rates & fees) | Welcome bonus of 60,000 Membership Rewards® points after you spend $4,000 in purchases on your new Card in your first 6 months of Card Membership. | Annual Uber and dining credits; 4x points at U.S. supermarkets on up to $25,000 per calendar year in purchases and at restaurants worldwide, and on up to $25,000 in purchases on your Card in a calendar year at U.S. supermarkets; 3X points on flights booked directly with airlines or on amextravel.com. Terms Apply. |
| Hilton Honors American Express Surpass® Card | $95 (See rates & fees) | Earn 130,000 Hilton Honors Bonus Points after you spend $2,000 in eligible purchases on the Card in the first 3 months of Card Membership. | Complimentary Night Reward each year after renewal; earn 12X Hilton Honors Bonus Points for each eligible dollar spent on your Card directly with participating hotels and resorts within the Hilton portfolio; Earn 6X Hilton Honors Bonus Points for each eligible dollar spent on your Card at- U.S. restaurants, at U.S. supermarkets, at U.S. gas stations. Earn 3X Hilton Honors Bonus Points for each eligible dollar spent on all other eligible purchases on your Card. |
Additional Considerations and FAQs
As you decide on the best card for you, there are a few points to consider:
- Credit Score: Most American Express cards are available to people with good to excellent credit, so check your credit report.
- Spending Habits: Evaluate where and how you spend money to decide which card best complements your lifestyle and spending patterns.
Navigating the benefits can be confusing. It can also be challenging to choose the correct card. Here are a few questions and answers regarding military fee waivers from Amex.
FAQs about AMEX Waives Fees Military
How Do I Apply for SCRA or MLA Benefits?
When you apply for a new American Express Card, the application will ask a few questions to confirm your eligibility. Specifically, American Express relies on information from the Department of Defense to determine eligibility. Make sure your info is up-to-date; then, you can simply include your military status on your application.
For those who already have an Amex Card, give their customer service a call at the number on the back of your card and inform them of your active-duty status. If there are any issues, ask to speak to a supervisor. Once your information is verified, you’re good to go. If approved for SCRA benefits, AMEX will apply the waiver back to the start of your active service.
What if I Close My Account? Can I Get a Prorated Refund?
The terms and conditions state if you opened your Platinum Card less than 30 days prior, you’ll be refunded 100% of the annual fee. If after 30 days, the fee is refunded on a prorated monthly basis, but you might have to manually request it.
What Happens When I Leave Active Duty?
Remember, the SCRA and MLA protections are designed for those currently serving. Unfortunately, you can’t benefit from the waived fees after leaving the military. AMEX regularly checks accounts to ensure everyone is eligible. Fortunately, American Express gives a heads up via a letter if they’re about to reinstate your annual fee – at least 45 days before, according to their guidelines.
Is There Anything Else I Should Know?
After your service ends, take a look at what Amex cards you have. You might benefit from switching to a card with a lower annual fee or a different rewards structure more suited to your current needs. Or maybe you’ll find the fee is now worth the cost for continued access to perks.
Conclusion
AMEX Waives Fees Military members enjoy on many of their credit card products as a way to show their appreciation for those who serve. With some of the most valuable credit card perks and reward programs in the industry, Amex stands out for giving those in uniform, and often their spouses too, significant financial advantages. These offers help ease the financial stress of serving. Make sure to do your research. This will help ensure you pick a credit card and rewards program that not only brings you value today but also aligns with your financial goals.
