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The 5 Best Credit Cards for Military Who Are Active-duty in December 2023 [Annual Fees Not Charged]

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Christine Krzyszton

Christine Krzyszton

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The 5 Best Credit Cards for Military Who Are Active-duty in December 2023 [Annual Fees Not Charged]

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Serving in our country’s military brings added responsibility and commitment — but it can also bring financial challenges.

Years ago, some of the financial challenges faced by military families were recognized and addressed with the Servicemembers Civil Relief Act of 2003 (SCRA) and the subsequent Military Lending Act (MLA). If you’re an active-duty military member, chances are you’re familiar with these laws and their revisions.

These Federal laws impose limits on interest rates and fees that lending institutions can legally charge active military members, their spouses, and domestic partners.

While the laws include special consideration with regard to vehicle leases, payday loans, mortgages, and housing rights, the importance of these laws as they apply to credit cards is significant. Specifically, opportunities have been created allowing military members to take advantage of some of the more elite benefits of rewards-earning credit cards without incurring high annual fees.

The SCRA applies to credit card accounts opened prior to active military service, but many credit card issuers extend the benefits to credit cards acquired during active duty as well. The MLA governs credit cards acquired during active military service.

Both laws have positively affected how credit card issuers administer their credit card terms for active military members. Today, we’ll focus on which credit card issuers go above and beyond the minimum requirements of these laws and how their actions benefit active members.

Let’s take a look at our recommendations for the best military credit cards for active members (including spouses) and the associated card benefits.

Best Military Credit Card for Travel

Amex Platinum Card ($695 Annual Fee Not Charged, Best Card for Worldwide Lounge Access, Premium Benefits & Perks)

BEST LOUNGE ACCESS
The Platinum Card® from American Express

The Platinum Card® from American Express

U.P. Rating
The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

The Amex Platinum reigns supreme for luxury travel, offering the best airport lounge access plus generous statement credits, and complimentary elite status.

The Platinum Card® from American Express

The Amex Platinum reigns supreme for luxury travel, offering the best airport lounge access plus generous statement credits, and complimentary elite status.
Earn 80,000 Membership Rewards® Points after you spend $8,000 on purchases on the Card in your first 6 months of Card Membership.
80,000 points
$1,760
$695
See Pay Over Time APR
Upgraded Points credit ranges are a variation of FICO®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.
Good to Excellent (670-850)

When it comes to cards that offer top-notch benefits, you’d be hard-pressed to find a better card out there than The Platinum Card® from American Express.

Make no mistake — the Amex Platinum card is a premium card with a premium price tag. With amazing benefits like best-in-class airport lounge access, hotel elite status, and tremendous value in annual statement credits, it can easily prove to be one of the most lucrative cards in your wallet year after year.

Pros

  • The best airport lounge access out of any card (by far) — enjoy access to over 1,400 worldwide lounges, including the luxurious Amex Centurion Lounges, Priority Pass lounges, Plaza Premium Lounges, and many more!
  • 5x points per $1 spent on flights purchased directly with the airline or with American Express Travel (up to $500,000 per year)
  • 5x points per $1 spent on prepaid hotels booked with American Express Travel
  • Annual and monthly statement credits upon enrollment (airline credit, Uber Cash credit, Saks Fifth Avenue credit, streaming credit, prepaid hotel credit on eligible stays, Walmart+ credit, CLEAR credit, and Equinox credit)
  • TSA PreCheck or Global Entry credit
  • Access to American Express Fine Hotels and Resorts
  • Access to Amex International Airline Program
  • No foreign transaction fees (rates and fees)

Cons

  • $695 annual fee (rates and fees)
  • Airline credit does not cover airfare (only incidentals like checked bags)
  • Earn 80,000 Membership Rewards® Points after you spend $8,000 on purchases on your new Card in your first 6 months of Card Membership. Apply and select your preferred metal Card design: classic Platinum Card®, Platinum x Kehinde Wiley, or Platinum x Julie Mehretu.
  • Earn 5X Membership Rewards® Points for flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year and earn 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel.
  • $200 Hotel Credit: Get up to $200 back in statement credits each year on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings with American Express Travel when you pay with your Platinum Card®. The Hotel Collection requires a minimum two-night stay.
  • $240 Digital Entertainment Credit: Get up to $20 back in statement credits each month on eligible purchases made with your Platinum Card® on one or more of the following: Disney+, a Disney Bundle, ESPN+, Hulu, The New York Times, Peacock, SiriusXM, and The Wall Street Journal. Enrollment required.
  • $155 Walmart+ Credit: Cover the cost of a $12.95 monthly Walmart+ membership (subject to auto-renewal) with a statement credit after you pay for Walmart+ each month with your Platinum Card®. Cost includes $12.95 plus applicable local sales tax. Plus Up Benefits are excluded.
  • $200 Airline Fee Credit: Select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees are charged by the airline to your Platinum Card®.
  • $200 Uber Cash: Enjoy Uber VIP status and up to $200 in Uber savings on rides or eats orders in the US annually. Uber Cash and Uber VIP status is available to Basic Card Member only.
  • $300 Equinox Credit: Get up to $300 back in statement credits per calendar year on an Equinox membership, or an Equinox club membership (subject to auto-renewal) when you pay with your Platinum Card®. Enrollment required. Visit https://platinum.equinox.com/ to enroll.
  • $189 CLEAR® Plus Credit: Breeze through security with CLEAR Plus at 100+ airports, stadiums, and entertainment venues nationwide and get up to $189 back per calendar year on your Membership (subject to auto-renewal) when you use your Platinum Card®. Learn more.
  • $100 Global Entry Credit: Receive either a $100 statement credit every 4 years for a Global Entry application fee or a statement credit up to $85 every 4.5 years for a TSA PreCheck® (through a TSA official enrollment provider) application fee, when charged to your Platinum Card®. Card Members approved for Global Entry will also receive access to TSA PreCheck at no additional cost.
  • Shop Saks with Platinum: Get up to $100 in statement credits annually for purchases in Saks Fifth Avenue stores or at saks.com on your Platinum Card®. That's up to $50 in statement credits semi-annually. Enrollment required.
  • $300 SoulCycle At-Home Bike Credit: Get a $300 statement credit for the purchase of a SoulCycle at-home bike with your Platinum Card®. An Equinox+ subscription is required to purchase a SoulCycle at-home bike and access SoulCycle content. Must charge full price of bike in one transaction. Shipping available in the contiguous U.S. only. Enrollment Required.
  • Unlock access to exclusive reservations and special dining experiences with Global Dining Access by Resy when you add your Platinum Card® to your Resy profile.
  • $695 annual fee.
  • Terms Apply.

Financial Snapshot

  • APR: See Pay Over Time APR
  • Foreign Transaction Fees: None

Card Categories

Rewards Center

American Express Membership Rewards

Why We Like the Card for Military Members

If you travel a lot, having lounge access can add value and comfort to your trip. You can grab a drink, a bite to eat, and relax during your journey. Cardmembers will have access to upscale Centurion Lounges, considered to be some of the best airport lounges available.

In addition, you’ll enjoy a Priority Pass Select membership upon enrollment, which allows you and 2 guests complimentary access to Priority Pass lounges worldwide. Priority Pass is the world’s largest lounge network with over 1,300 lounges.

If you travel on Delta Air Lines, you’ll also enjoy same-day access to Delta Sky Clubs (cardholder only).

The Global Entry or TSA PreCheck credit is also a nice perk that reimburses you when you pay for your application or renewal with your Amex Platinum card. Read our in-depth review to find out more about the American Express Military benefits which are included with the Amex Platinum card.

Hot Tip: For a lot more information, see our post on the benefits of the Amex Platinum card for active U.S. military members. Remember that the $695 annual fee isn’t charged if you’re active military (including spouses and domestic partners), making this an incredible opportunity to pick up a card with a huge welcome offer that’s packed with benefits and perks!

Best Military Credit Card for Rewards

Amex Gold Card ($250 Annual Fee Not Charged, Earn Lots of Bonus Points on Dining & U.S. Supermarkets)

BEST FOR DINING
American Express® Gold Card

American Express® Gold Card

U.P. Rating
The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

This is the best card for food lovers who dine out at restaurants (worldwide), order take-out and want big rewards at U.S. supermarkets!

American Express® Gold Card

This is the best card for food lovers who dine out at restaurants (worldwide), order take-out and want big rewards at U.S. supermarkets!
Earn 60,000 Membership Rewards® Points after you spend $6,000 on eligible purchases with your new Card within the first 6 months.
60,000 points
$1,320
$250
See Pay Over Time APR
Upgraded Points credit ranges are a variation of FICO®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.
Good to Excellent (670-850)

The American Express® Gold Card is a game-changer.

With this card, you can earn 4x Membership Rewards points at restaurants and you’ll also earn 4x Membership Rewards points at U.S. supermarkets on up to $25,000 per calendar year in purchases, then 1x.

There isn’t another card on the market that offers a 1-2 punch like this. Of course, there are several other benefits of the Gold Card as well, including extra monthly dining rewards and more.

Pros

  • 4x points per $1 at restaurants, plus takeout and delivery in the U.S.
  • 4x points per $1 at U.S. supermarkets, up to $25,000 per calendar year in purchases; and 1x thereafter
  • 3x points per $1 on flights purchased directly from airlines or at Amex Travel
  • Up to $120 annual dining credit: up to $10 monthly statement credit when you pay with the Amex Gold card at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, Milk Bar and select Shake Shack locations
  • Up to $120 in annual Uber Cash: get $10 monthly in Uber Cash for Uber Eats orders or Uber rides in the U.S. when you add your Gold Card to your Uber account
  • No foreign transaction fees (see rates and fees)
  • Access to Amex’s The Hotel Collection
  • Access to American Express transfer partners

Cons

  • Earn 60,000 Membership Rewards® points after you spend $6,000 on eligible purchases with your new Card within the first 6 months of Card Membership.
  • Earn 4X Membership Rewards® Points at Restaurants, plus takeout and delivery in the U.S., and earn 4X Membership Rewards® points at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1X).
  • Earn 3X Membership Rewards® points on flights booked directly with airlines or on amextravel.com.
  • $120 Uber Cash on Gold: Add your Gold Card to your Uber account and each month automatically get $10 in Uber Cash for Uber Eats orders or Uber rides in the U.S., totaling up to $120 per year.
  • $120 Dining Credit: Satisfy your cravings and earn up to $10 in statement credits monthly when you pay with the American Express® Gold Card at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, Milk Bar and select Shake Shack locations. Enrollment required.
  • Get a $100 experience credit with a minimum two-night stay when you book The Hotel Collection through American Express Travel. Experience credit varies by property.
  • Choose the color that suits your style. Gold or Rose Gold.
  • No Foreign Transaction Fees.
  • Annual Fee is $250.
  • Terms Apply.

Financial Snapshot

  • APR: See Pay Over Time APR
  • Foreign Transaction Fees: None

Card Categories

Rewards Center

American Express Membership Rewards

Why We Like the Card for Military Members

Because the American Express Membership Rewards points you earn on everyday spending can be redeemed easily for travel, the Amex Gold card strikes a balance of being an everyday earning credit card and a travel rewards credit card.

For those who travel occasionally but spend regularly on dining and at U.S. supermarkets (up to $25,000 per year), this card is an excellent match. You can read our post for more on the benefits of the Amex Gold card for active-military members.

Bottom Line: American Express offers over 60 different cards and does not charge annual fees on all of them for active military.  

Best Military Credit Card for First-time Cardholders

Chase Sapphire Preferred Card ($95 Annual Fee Waived, Excellent First-time Card)

Chase Sapphire Preferred® Card

Chase Sapphire Preferred® Card

U.P. Rating
The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

A fantastic travel card with a huge welcome offer, good benefits, and perks for a moderate annual fee.

Learn More(at Chase's secure site)

Chase Sapphire Preferred® Card

A fantastic travel card with a huge welcome offer, good benefits, and perks for a moderate annual fee.
Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Ultimate Rewards®.
60,000 points
$1,200
$95
Upgraded Points credit ranges are a variation of FICO®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.
Good to Excellent (670-850)

The Chase Sapphire Preferred® card is one of the best travel rewards cards on the market. Its bonus categories include travel, dining, online grocery purchases, and streaming services, which gives you the opportunity to earn lots of bonus points on these purchases.

Additionally, it offers flexible point redemption options, no foreign transaction fees, and excellent travel insurance coverage including primary car rental insurance. With benefits like these, it’s easy to see why this card is an excellent choice for any traveler.

Pros

  • 5x points on all travel booked via the Chase Ultimate Rewards portal
  • 5x points on select Peloton purchases over $250 (through March 31, 2025)
  • 5x points on Lyft purchases (through March 31, 2025)
  • 3x points on dining purchases, online grocery purchases, and select streaming services
  • 2x points on all other travel worldwide
  • $50 annual credit on hotel stays booked through the Chase Ultimate Rewards portal
  • 6 months of complimentary Instacart+ (activate by July 31, 2024), plus up to $15 in statement credits each quarter through July 2024
  • Excellent travel and car rental insurance
  • 10% annual bonus points
  • No foreign transaction fees
  • 1:1 point transfer to leading airline and hotel loyalty programs like United MileagePlus and World of Hyatt
  • Complimentary Spot Club Platinum status with The Parking Spot for 2 years, 20% off of your first reservation, and points for 1 free day of parking (enroll by October 26, 2023)

Cons

  • $95 annual fee
  • No elite benefits like airport lounge access or hotel elite status
  • Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Ultimate Rewards®.
  • Enjoy benefits such as 5x on travel purchased through Chase Ultimate Rewards®, 3x on dining, and 2x on all other travel purchases, and $50 annual Ultimate Rewards Hotel Credit, plus more.
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. For example, 60,000 points are worth $750 toward travel.
  • Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
  • Get complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2024.
  • Member FDIC

Financial Snapshot

  • Foreign Transaction Fees: None

Card Categories

Rewards Center

Chase Ultimate Rewards

A great first-time rewards credit card, the Chase Sapphire Preferred card offers a nice balance of practical travel benefits for active-duty military and earning Ultimate Rewards points:

  • 5x points on travel purchased through Chase Ultimate Rewards and Lyft (through March 31, 2025)
  • 3x points on dining, online grocery store purchases, and select streaming services
  • 2x points on all other travel purchases
  • Travel protections, including trip interruption/cancellation and primary rental car insurance
  • Redeem points for 25% more value on the Ultimate Rewards travel portal

Why We Like the Card for Military Members

Earning valuable Chase Ultimate Rewards is a real benefit and being able to redeem them for travel on the Chase travel portal for 25% more is an added bonus. Ultimate Rewards points can also be transferred to travel partners for even more value.

If you’re a military member renting a vehicle, know that you’ll be protected with primary car rental insurance.

Best Military Credit Card for Priority Pass Lounge Access

Chase Sapphire Reserve Card ($550 Annual Fee Waived, Priority Pass Lounge Access)

Chase Sapphire Reserve®

Chase Sapphire Reserve®

U.P. Rating
The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

A top player in the high-end premium travel credit card space that earns 3x points on travel and dining while offering top luxury perks.

Learn More(at Chase's secure site)

Chase Sapphire Reserve®

A top player in the high-end premium travel credit card space that earns 3x points on travel and dining while offering top luxury perks.
Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.
60,000 points
$1,200
$550
Upgraded Points credit ranges are a variation of FICO®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.
Excellent (740-850)

If you’re looking for an all-around excellent travel rewards card, the Chase Sapphire Reserve® is one of the best options out there.

The card combines elite travel benefits and perks like airport lounge access, with excellent point earning and redemption options.  Plus it offers top-notch travel insurance protections to keep you covered whether you’re at home or on the road.

Don’t forget the $300 annual travel credit which really helps to reduce the annual fee!

Pros

  • 10x points on car rentals, hotels, and dining booked via the Chase Ultimate Rewards portal
  • 10x points on Lyft purchases March 31, 2025
  • 10x points on Peloton equipment and accessory purchases over $250 through March 31, 2025
  • 5x points on airfare booked via the Chase Ultimate Rewards portal
  • 3x points on all other travel and dining purchases; 1x point on all other purchases
  • $300 annual travel credit
  • Priority Pass airport lounge access
  • TSA PreCheck, Global Entry, or NEXUS credit
  • Access to Chase Luxury Hotel and Resort Collection
  • Rental car elite status with National and Avis

Cons

  • $550 annual fee
  • Does not offer any sort of hotel elite status
  • Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $900 toward travel when you redeem through Chase Ultimate Rewards®
  • $300 Annual Travel Credit as reimbursement for travel purchases charged to your card each account anniversary year.
  • Earn 5x total points on flights and 10x total points on hotels and car rentals when you purchase travel through Chase Ultimate Rewards® immediately after the first $300 is spent on travel purchases annually. Earn 3x points on other travel and dining & 1 point per $1 spent on all other purchases
  • Get 50% more value when you redeem your points for travel through Chase Ultimate Rewards®. For example, 60,000 points are worth $900 toward travel
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Access to 1,300+ airport lounges worldwide after an easy, one-time enrollment in Priority Pass™ Select and up to $100 application fee credit every four years for Global Entry, NEXUS, or TSA PreCheck®
  • Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more
  • Member FDIC

Financial Snapshot

  • Foreign Transaction Fees: None

Card Categories

Rewards Center

Chase Ultimate Rewards

The Chase Sapphire Reserve card is a premium travel rewards credit card with a long list of benefits for active-duty military:

  • Priority Pass Select Membership with access to over 1,300 airport lounges worldwide after enrollment
  • Up to $300 travel credit each card anniversary year
  • 5x total points on air travel and 10x total points on hotels and car rentals when you purchase travel through Chase Ultimate Rewards
  • 3x points on other travel and dining
  • Transfer Ultimate Rewards to travel partners for potential added value
  • Redeem Ultimate Rewards points for 50% more value on travel purchased through the Chase Ultimate Rewards travel portal
  • Global Entry/NEXUS/TSA PreCheck credit up to $100, once every 4 years

Why We Like the Card for Military Members

If you’re traveling frequently, the worldwide lounge access benefit will make your journey more comfortable and economical. The up to $300 travel credit each card anniversary year is easy to use and adds immediate value.

With elevated earnings on travel and dining purchases and 50% more value when redeeming through the Chase travel portal, any military member who travels will utilize this card’s benefits.

Best Military Credit Card for Cash-back

Freedom Unlimited Card (Best for Cash-back on All Purchases)

SPECIAL OFFER
Chase Freedom Unlimited®

Chase Freedom Unlimited®

U.P. Rating
The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

This all-purpose cash-back card offers great bonus categories, including bonus points for every purchase you make!

Learn More(at Chase's secure site)

Chase Freedom Unlimited®

This all-purpose cash-back card offers great bonus categories, including bonus points for every purchase you make!
SPECIAL OFFER: Unlimited Matched Cash Back. Chase will automatically match all the cash back you earned at the end of your first year! There is no limit to how much cash back you can earn.
Matched Cash Back
$0
0% Intro APR for 15 months on purchases and balance transfers, then a variable APR of 20.49% - 29.24%.
Upgraded Points credit ranges are a variation of FICO®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.
Good to Excellent (670-850)

The Chase Freedom Unlimited® is easily one of the best cash-back credit cards on the market. There aren’t many no-annual-fee credit cards that offer multiple great bonus categories like 5% back on travel purchased through Chase, 3% back on dining and drugstore purchases, and 1.5% back on all other purchases.

When paired with other Chase cards in the Ultimate Rewards family, you can transfer that cash back into points if you wish – making it one of the most lucrative cards in your wallet.

Pros

  • 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49% - 29.24%.
  • 5% back on travel purchased through Chase Ultimate Rewards
  • 3% back on dining and drugstore purchases
  • 1.5% back on all other purchases
  • No annual fee
  • Earn big on travel purchased through Chase Ultimate Rewards
  • Everyday bonus on dining and drugstores
  • Straightforward cash-back on all other purchases
  • Ability to pool points

Cons

  • 3% foreign transaction fee
  • SPECIAL OFFER: Unlimited Matched Cash Back. Use your card for all your purchases and at the end of your first year, Chase will automatically match all the cash back you earned! There is no limit to how much you can earn. Every dollar in cash back rewards you earn is a dollar Chase will match.
  • Unlimited 1.5% cash back is just the beginning of what you can earn. You’ll enjoy 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery services, 5% cash back on travel purchased through Chase Ultimate Rewards®, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; and 1.5% cash back on all other purchases.
  • Enjoy 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49% – 29.24%.
  • No minimum to redeem for cash back. You can choose to receive a statement credit or direct deposit into most U.S. checking and savings accounts. Cash Back rewards do not expire as long as your account is open!
  • No annual fee – You won’t have to pay an annual fee for all the great features that come with your Freedom Unlimited® card
  • Keep tabs on your credit health, Chase Credit Journey helps you monitor your credit with free access to your latest score, real-time alerts, and more.
  • Member FDIC

Financial Snapshot

  • APR: 0% Intro APR for 15 months on purchases and balance transfers, then a variable APR of 20.49% - 29.24%.
  • Foreign Transaction Fees: 3% of each transaction in U.S. dollars

Card Categories

Rewards Center

Chase Ultimate Rewards

If you want a great point-earning card, the Freedom Unlimited card will make sure every purchase is earning rewards you can use:

  • 5% cash-back on travel through Chase Ultimate Rewards
  • 3% cash-back on dining and drugstore purchases
  • 1.5% cash-back on all other purchases

Why We Like the Card for Military Members

If you have a major purchase to make, you can save a lot on interest charges with the 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49% - 29.24%..

There is also $0 annual fee for all cardholders, including military members.

Hot Tip: Chase credit cards are generally subject to the 5/24 rule, which may limit the number of credit cards for which you can be approved. Review the 5/24 rule carefully before applying. 

Best Credit Cards for Veterans

Most of the benefits of the SCRA and MLA laws expire within a specific period of time once you’ve left active duty, usually 12 to 15 months.

During your service, you may have become familiar with the following financial institutions that provide continuing services to retired military members. Note that you must be a member of these organizations before applying for their credit cards.

Navy Federal Credit Union

Navy Federal More Rewards American Express® Card

Best for: Everyday spending

  • Welcome offer: Earn 25k bonus points when you spend $3,000 within 90 days
  • 3x points at restaurants and on food delivery, gas stations, gas, and transit
  • 1x points on everything else
  • No annual fee
  • No foreign transaction fees

All information about the Navy Federal More Rewards American Express® Card has been collected independently by Upgraded Points.

USAA

USAA Rewards™ American Express® Card

Best for: Everyday spending

  • 3x points on dining
  • 2x points on gas stations and supermarket purchases
  • 1x points on all other purchases
  • No foreign transaction fees
  • [up cc_id=357087 name="usa-rewards-amex-annual-fee-number"] annual fee

All information about the USAA Rewards™ American Express® Card has been collected independently by Upgraded Points.

Pentagon Federal Credit Union

PenFed Platinum Rewards Visa Signature® Card

Best for: Everyday spending

  • Points can be redeemed for travel, gift cards, or merchandise at less than 1 cent each
  • Welcome offer: Earn 15,000 Bonus Points when you spend $1,500 in first 90 days
  • 5x points on gas station purchases
  • 3x points at supermarkets (including most Target and Walmart locations), restaurants, and TV, radio, cable, and streaming services
  • 1x points on all other eligible purchases
  • [up cc_id=334173 name="penfed-annual-fee-number"] annual fee

Hot Tip: For a lot more information on this topic, see our guide on the best credit cards for military veterans.

How To Choose a Military Credit Card

If you can’t decide which card is best for you, here are some tips to help you decide.

Consider What Rewards You Want To Earn — Travel or Cash-back

One of the biggest items to consider is the type of rewards you want to earn. If you travel often — or aspire to — and want a card that can help keeps your travel costs down, then a travel rewards card is the way to go.

If you don’t travel often or prefer to hold a card that boosts your bottom line, then a cash-back card might make more sense.

Hot Tip:

Keep in mind that some rewards cards earn points that can be redeemed both for travel and for cash-back.

What Perks and Protections Are You Looking For?

Some of the best credit cards come loaded with perks that offer you significantly more value beyond just the points you’ll earn. This can include perks like airport lounge access, annual statement credits, Global Entry/TSA PreCheck fee credits, and much more.

Consider which benefits are most valuable to you. If you don’t travel often and don’t care much for airport lounge access, then a card that offers that might not be the best fit for you. Similarly, you might be a foodie who orders out often and would value a card that offers annual dining credits. It is all about determining what you value most.

Finally, you’ll want to consider what protections you want your card to offer to help you narrow your options further. Do you want your card to have trip delay insurance, rental car insurance, purchase protection, etc.? These are all items that will help you decide the best travel rewards card for you.

What Are the Pros and Cons of Military Credit Cards?

Pros

  • Waived Annual Fee: Some credit issuers offer waived annual fees for active-duty military members. Depending on the card, this can be quite a lucrative perk.
  • Lower Interest Rates: Credit cards for active-duty military members can offer lower interest rates than other cards. However, you should prioritize always paying off your card in full each month.

Cons

  • Your Annual Fee and/or Interest Rates May Change: Once you leave active duty, the annual fees on your cards will begin being charged again, and your interest rate may increase as well.

Final Thoughts

Those who are about to embark on active duty or who have already done so can benefit greatly from having the annual fees exempt on some very rewarding credit cards.

Premium travel credit cards can have annual fees exceeding $500 per year, plus additional fees for authorized users. Having these fees removed while qualifying for the valuable benefits offered can result in significant savings.

Keep in mind that balances still need to be paid off each statement period to avoid interest charges (even reduced ones), and payments must be made on time to preserve your good credit score.

The information regarding the Navy Federal More Rewards American Express® Card was independently collected by Upgraded Points and not provided nor reviewed by the issuer.
The information regarding the USAA Rewards™ American Express® Card was independently collected by Upgraded Points and not provided nor reviewed by the issuer.
The information regarding the PenFed Platinum Rewards Visa Signature® Card was independently collected by Upgraded Points and not provided nor reviewed by the issuer.

For rates and fees of The Platinum Card® from American Express, click here.
For rates and fees of the American Express® Gold Card, click here.

Featured Image Credit: Upgraded Points

Frequently Asked Questions

Which is the best credit card for active military?

The best credit card for active military will depend on your spending habits, the benefits you will use, and how long you plan to keep the card. American Express and Chase offer the best credit cards for active military. You’ll receive premium travel benefits, accelerated earnings, welcome offers good for award travel, and statement credits. In addition, American Express and Chase waive annual fees on their credit cards for active military even if you apply for the card after you have started on active duty. If you plan to keep the card you apply for indefinitely, you’ll want to select a card that delivers ongoing benefits you’ll continue to use once you’re required to pay the annual fee.

Which credit cards waive the fee for retired military?

SCRA and MLA laws were designed to protect active military and do not apply to retired military. There are some extensions of benefits — in some cases up to 15 months beyond when active duty ends. However, veterans can still take advantage of special credit card offers and services from financial institutions such as USAA, PenFed, and Navy Federal Credit Union.

Can a military spouse get the credit card fees waived?

Yes. SCRA and MLA laws extend benefits to military spouses and domestic partners. Credit card issuers may require joint accounts or that the spouse/domestic partner be added as an authorized user to receive benefits. Others will waive fees and apply benefits for credit cards applied for by the spouse/domestic partner.

Which credit cards waive the annual fee for military?

Several credit card issuers do not charge annual fees for active-duty military. American Express and Chase are the most popular. While other credit card issuers may waive fees for active military, they may apply these benefits to credit cards acquired prior to active duty. American Express and Chase do not have this limitation. You can apply for a credit card with American Express or Chase while on active duty, and if qualified, the fee will not be charged.

Does Chase waive the annual fees for active military?

Yes, if you qualify, Chase will waive the annual fee and other account fees for active military. This includes its premium travel rewards card, the Chase Sapphire Reserve card, which would normally have an annual fee of $550.

What is the maximum interest rate on credit cards for active-duty military?

There are 2 laws that govern credit card interest rates for active-duty military. The Military Lending Act limits interest rates and associated account fees to a maximum of 36% APR on credit cards secured while on active duty. Credit cards secured prior to active duty are governed by the SCRA which limits interest rates and other account fees to a maximum of 6% APR.

About Christine Krzyszton

Christine ran her own business developing and managing insurance and financial services. This stoked a passion for points and miles and she now has over 2 dozen credit cards and creates in-depth, detailed content for UP.

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