The 10+ Best Credit Cards for Military Veterans [2021]
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If you have served, or are currently serving in the U.S. military, you may be familiar with the Servicemembers Civil Relief Act (SCRA). The act, which was passed in 2003, included several financial protections for active military members.
One such protection that financial institutions had to adhere to was the cap on interest rates that could be charged to military members. As the act relates specifically to credit cards, this provision resulted in service fees and interest being refunded, credit card interest rates capped, and even the waiver of annual credit card renewal fees.
With these protections in place, it’s easy to determine the best credit cards while on active military duty (spoiler alert, Amex are the most generous). Unfortunately, benefits included in the act disappear for service members after 12 to 15 months of leaving duty, at which time credit card selection could then become more difficult.
During this transition, veterans may be wondering which credit cards still offer benefits they can use while keeping the cost of using credit under control.
That’s our chosen topic for today. We’re going to take a look at some of the best credit card options available to veterans, discuss the associated benefits, then look at alternative card options that might be an equally appropriate fit.
Let’s get started.
Table of contents
Table of Contents
The Value of Military Financial Organizations
Chances are, during your term of service, you joined a financial institution that catered to the specific needs of military members and their families.
Such financial institutions have experience dealing with the unique circumstances of military duty. The organizations specialize in offering services that active military members need, such as online access, locations on base, ability to deal with deployments and reassignments, international access, and more.
Even when you leave active duty, these institutions can still offer services that add value to you as a veteran.
Here are some of the most popular military financial organizations and some of the services offered to veterans:
- USAA — personal loans, credit cards, insurance, retirement, and investment options, advice
- Pentagon Federal Credit Union (PenFed) — banking accounts, mortgages, credit cards, student loans, home equity, and retirement options
- Navy Federal Credit Union (NFCU) — banking accounts, CDs, individual retirement accounts, personal loans, credit cards, mortgages
Bottom Line: Veterans are still welcomed as members of military financial organizations and can benefit from the products and services offered by these institutions.
Credit Cards Offered by Military Financial Organizations
You don’t have to be an active military member to qualify for the credit cards offered by the aforementioned financial organizations. Let’s look at a sampling of credit card options available to veterans via these institutions and the benefits you can expect.
USAA (United Services Automobile Association)

USAA is known as a leading insurer of military members. The organization also offers a full line of financial products including credit cards, real estate financing, banking, retirement and investment products, and personal loans.
Joining USAA is free and veterans qualify for membership.
Here are just 2 of several credit card products offered by USAA and the card’s associated benefits:
USAA Rewards™ American Express® Card
- $0 annual fee
- 3x points on dining out
- 2x points at grocery stores and gas stations
- 1x points all other purchases
- Secondary car rental coverage, trip cancellation/interruption, and baggage delay reimbursement
- No foreign transaction fees
- Terms apply
USAA Rewards™ Visa Signature® Card
- $0 annual fee
- Earn 2,500 points after first purchase
- 2x points on gas and dining out
- 1x points on all other purchases
- Visa Signature benefits such as secondary car rental coverage, trip cancellation/interruption, and baggage delay reimbursement
- No foreign transaction fees
Bottom Line: USAA specializes in offering insurance products to U.S. military members, veterans, and their families. Even widows/widowers of members or veterans qualify for membership and have access to the USAA product portfolio that includes several credit card options.
Pentagon Federal Credit Union (PenFed)

While PenFed was originally established for just active military members, in more recent years membership has been open to anyone who first makes a donation to an affiliated charity described in the application.
The credit union’s primary focus, however, is still on the financial needs unique to active and former military members.
Here are 2 of the many rewards-earning credit cards offered by PenFed:
Platinum Rewards Visa Signature® Card
- $0 annual fee
- Welcome bonus of $100 statement credit after spending $1,500 in the first 90 days after card approval
- 5x points on purchases at gas stations
- 3x points at supermarkets
- 1x points on all other purchases
- Visa Signature benefits including secondary car rental coverage, extended warranty, and roadside dispatch services, and more
Power Cash Rewards Visa Signature® Card
- $0 annual fee
- Welcome bonus of $100 after spending $1,500 in the first 90 days after card approval
- 2% cash-back on all purchases (must have affiliated checking account)
- Introductory 0% APR on balance transfers for 12 months (fees apply)
- No foreign transaction fees
- Extended warranty, secondary car rental coverage, and roadside dispatch services, and more
Points earned on your cards can be redeemed for travel, gift cards, or merchandise.
Bottom Line: While PenFed focuses on providing financial solutions for military and former military members, it has expanded its membership to include anyone who contributes to specific charities during the application process.

This member-owned, not-for-profit institution has over 9 million members. Veterans are welcome to join and take advantage of several offered services. Veterans are also eligible to apply for any of the organizations offered credit cards.
Here are 2 of its most popular:
Navy Federal More Rewards American Express® Card
- $0 annual fee
- Generous 25,000-point welcome bonus
- 3x points on gas, restaurants, supermarkets, and transit
- 1x points all other purchases
- Redeem points for cash, travel, gift cards, and merchandise
- Secondary car rental insurance
- Terms apply
Visa Signature® Flagship Rewards Credit Card
- Low $49 annual fee, waived the first year
- 1 free year of Amazon Prime from card approval date
- 3x points for travel purchases
- 2x points all other purchases
- Global Entry or TSA PreCheck credit
- Visa Signature benefits such as cell phone protection and extended warranty
Bottom Line: Navy Federal Credit Union is not just for those enlisted in the Navy. To be eligible to join NFCU, you can have ties to active duty military members in any of the armed forces, including the Department of Defense civilian members. Retired members, veterans, and family members, even minors, also qualify. All members have access to NFCU services and products including several credit cards.
Alternative Credit Cards for Veterans

While military credit unions and financial institutions serve the great purpose of providing discounts, loans, transition services, and financial help to our veterans and active service members, it’s always good to look at alternative options when selecting any financial product, including credit cards.
Here are a few credit card options available to the public that also come with benefits veterans may consider and use for comparison to cards offered via military-serving financial organizations.
Best Credit Cards for Veterans for Everyday Spending
We all, including veterans, spend daily on common purchases such as gas, groceries, at drug stores, and on dining. Earning rewards on your greatest purchases within those categories is the key to maximizing rewards on any credit card.
Here are 2 popular everyday spending cards that will make sure you’re covered when it comes to earning rewards for those expenses.
Blue Cash Preferred® Card from American Express
American Express does an excellent job of offering cards that reward our everyday purchases. Here is just one of the most popular options.
Amex Credit Card | Benefits & Info |
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Blue Cash Preferred® from American Express ![]() Apply Now (at Amex's secure site) |
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- $95 annual fee, waived the first year
- Generous welcome bonus
- 6% cash-back at supermarkets (up to $6,000 in purchases/year)
- 6% cash-back on streaming services
- 3% cash-back on transit and at gas stations
- Introductory 0% APR on purchases and balance transfers for 12 months (fees and terms apply to balance transfers)
- Travel benefits such as secondary car rental coverage with the option to purchase premium protection for 1 low fee that covers the entire rental period
- Shopping benefits such as 0% APR on purchases for 12 months, purchase protection, extended warranty
- Terms apply
Amex also offers an excellent no-annual-fee card equally appropriate for some of the same everyday purchases. The Blue Cash Everyday® Card from American Express is another Amex choice worth considering. We’ve compared the Blue Cash Preferred and Blue Cash Everyday cards if you can’t quite decide.
Chase Freedom Flex℠ Credit Card
Having a banking relationship with Chase can deliver added value to the veteran. Chase waives card fees for active military and also extends monthly fee waivers on checking, free safety deposit boxes, the waiver of a limited number of non-Chase ATM transactions, special home loans, and more for veterans.
Chase also offers several everyday spending cards including the Freedom Flex card.
CREDIT CARD | BENEFITS & INFO |
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Chase Freedom Flex℠ Credit Card ![]() Learn More (at Chase's secure site) |
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- No annual fee
- Welcome bonus
- 5% back on quarterly bonus categories, up to $1,500 in purchases
- 5% back at grocery stores for 1 year, up to $12,000 maximum in purchases
- 3% back on dining, eligible food delivery services, and take out
- 3% back at drug stores
- 1% back on all other purchases
- Redeem rewards for statement credits, travel, or transfer to Chase premium cards for even greater potential redemption value
- Travel benefits such as secondary car rental, trip interruption/cancellation
- Shopping benefits such as extended warranty, purchase protection, and cell phone protection
- Introductory 0% APR on purchases
Chase offers the no-annual-fee Chase Freedom Unlimited® card that also rewards everyday purchases.
Best Credit Cards for Veterans Who Want Travel Benefits

Premium travel rewards cards come with higher annual fees but also with a long list of premium travel benefits. Here are 2 of the best premium travel rewards credit cards you won’t find paralleled at military credit unions.
The Platinum Card® from American Express
Amex Card | Benefits & Info |
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The Platinum Card® from American Express ![]() Apply Now (at Amex's secure site) |
Must Reads: For more info on the Amex Platinum, see our thoughts on its benefits & perks, travel insurance coverage, and unbeatable airport lounge access. Take a look here for our full review. If you're a business owner, see our review of The Business Platinum Card from American Express. *This bonus value is an estimated valuation calculated by UP and not the card issuer. |
In addition to elevated bonus earnings, worldwide lounge access, and valuable statement credits for specific purchases, the Amex Platinum card offers the following travel and shopping benefits.
- Gold elite status with Hilton Honors and Marriott Bonvoy
- Car rental program elite status and perks
- Transfer Membership Rewards points to travel partners for potentially greater value
- Trip interruption, trip cancellation, and trip delay coverage
- Baggage insurance
- Emergency evacuation insurance
- Purchase protection and extended warranty protection
- Terms apply
For a full review of the benefits of the Amex Platinum card, this article sums up the details nicely. If you know someone in the active military, you’ll want to make them aware of the benefits afforded on the Amex Platinum card, including waived annual fees.
Chase Sapphire Reserve® Card
Credit Card | Key Benefits & Info |
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Chase Sapphire Reserve®![]() Apply Now (at Chase's secure site) |
Must Reads: For more on the Chase Sapphire Reserve, see our thoughts on its benefits, global airport lounge access, and travel insurance protection. Take a look here for our full review. *This bonus value is an estimated valuation calculated by UP and not the card issuer. |
While you’ll find tremendous value with easy-to-use travel statement credits and 3x earnings, the Chase Sapphire Reserve card also offers plenty of additional travel and shopping benefits.
- Worldwide lounge access with complimentary Priority Pass Select membership
- Emergency evacuation and emergency medical/dental coverage
- Redeem Ultimate Rewards points for 1.5 cents each towards Pay Yourself Back purchases or travel via the Chase Travel portal
- Transfer points to travel partners for even greater potential value
- Trip interruption, trip cancellation, and trip delay coverage
- Primary car rental coverage and roadside assistance
- Purchase protection, extended warranty, and return protection
- Lyft, DoorDash, and GrubHub perks
For more travel rewards card options, further information can be found in our article covering the best travel rewards cards.
Bottom Line: Premium travel rewards cards have higher annual fees but if you can utilize enough of the associated benefits, you can realize value beyond the cost of the annual fee.
Best Credit Cards for Veterans Who Have Small Businesses
Business owners know that keeping personal and business transactions separate is imperative to running a smooth operation. You’ll also want to make sure you earn rewards on all of those business transactions.
Here are 2 suggested cards that will help you do just that:
American Express® Business Gold Card
Credit Card | Key Benefits & Info |
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American Express® Business Gold Card ![]() Apply Now (at Amex's secure site) |
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In addition to a generous welcome bonus, elevated earnings on select common business purchases, and airline point purchase rebates, the Amex Business Gold card offers additional benefits:
- Free employee cards
- Business expense management tools
- The Hotel Collection on-site benefits including room upgrades, hotel credits, and 2x earnings
- Extended warranty and purchase protection
Another Amex business card to consider is The Business Platinum Card® from American Express.
Ink Business Preferred® Credit Card
With a generous welcome bonus, lower annual fee, 3x earnings on key business purchases, and 25% more value at redemption time, you’re already ahead with the Ink Business Preferred card.
Credit Card | Key Benefits & Info |
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Ink Business Preferred® Credit Card![]() Apply Now (at Chase's secure site) |
Must Reads: For more info on the Ink Business Preferred, see our guides on its benefits, 7 things to do as a new cardholder, and our full review. This is our favorite of Chase's business credit cards. *This bonus value is an estimated valuation calculated by UP and not the card issuer. |
There are, however, even more benefits of having the card.
- Free employee cards
- Transfer Ultimate Rewards points to travel partners for greater potential value
- Use the Pay Yourself Back option to redeem points on select purchases or travel via the Chase Travel portal for 25% more value
- Primary car rental insurance, trip interruption/cancellation
- Purchase protection and extended warranty protection
Selecting the right business credit card for your situation can require a lot of research. Save time by reviewing our article featuring several of the best business credit card options to consider.
Best Credit Cards for Veterans Who Have No Credit or Bad Credit
Military service has unique demands and financial challenges. If you’ve faced these challenges and need a path to creating a better credit history, there are plenty of options for building or rebuilding your credit.
Secured cards do not require a good credit history but normally require a security deposit. Check the military financial institutions first for options, then compare with other cards to find a solution that matches your situation.
- Navy Federal nRewards® Secured Credit Card — no annual fee, $200 minimum security deposit, earns 1 reward point for each dollar spent, cell phone protection
- Credit Builder Secured Visa® Credit Card — credit limit up to $3,000 with matching security deposit, potential to upgrade to an unsecured card after building good history, $35 annual fee
- Secured Mastercard® from Capital One® — no annual fee, $49, $99, or $200 refundable security deposit (amount based on credit history) to receive up to $200 credit limit, potential credit limit increase after 6 months of good history
- First Progress Platinum Secured cards — various secured card options that do not require a credit check
For additional secured card options, you’ll find information in our article on secured credit cards offering options for those with no credit or bad credit.
Final Thoughts
Financial institutions that specifically serve military and former military members are always a good place to start for financial education and assistance. These organizations have experience dealing with the unique needs of their members and offer focused solutions.
As a veteran looking for a credit card that fits your situation, you’ll want to first determine your greatest expenses, what purpose you want the rewards you earn to serve and examine each card’s benefits to discover those you find the most valuable and will actually use.
With the vast selection of cards available, it will be easier to compare and choose a card (or cards) if you’ve determined your priorities and goals in advance.
It’s worth noting that we have abbreviated overall card information and benefit descriptions. Prior to applying for any credit card, you’ll want to review the entire card agreement to determine pricing/fees and the guide to benefits for additional benefit details.
The information regarding the USAA Rewards™ American Express® Card, USAA Rewards™ Visa Signature® Card, Platinum Rewards Visa Signature® Card, Power Cash Rewards Visa Signature® Card, Navy Federal More Rewards American Express® Card, Visa Signature® Flagship Rewards Credit Card, Chase Freedom Flex℠ Credit Card, Navy Federal nRewards® Secured Credit Card, Credit Builder Secured Visa® Credit Card, and Secured Mastercard® from Capital One® was independently collected by Upgraded Points and not provided nor reviewed by the issuer.
For rates and fees of the Blue Cash Preferred® from American Express, click here.
For rates and fees of The Platinum Card® from American Express, click here.
For rates and fees of the American Express® Business Gold Card, click here.