% Intro Apr On Balance Transfers
One other useful benefit of the Mastercard® Gold Card is that it offers a 0% introductory APR for the first fifteen billing cycles following each balance transfer that posts to your account within 45 days of account opening. After that, your APR will be 14.99%. This APR will vary with the market based on the Prime Rate.
Is The Mastercard Gold Card Worth It
In our opinion, if you’re looking for a credit card to use for day-to-day spending, the Mastercard® Gold Card isnt worth it. Its rewards rates for non-travel purchases are low, and we don’t believe the card’s benefits outweigh the ridiculously high annual fee. Other premium credit cards have more to offer at significantly lower prices.
However, if youre a frequent traveler who is looking for a swanky card with luxury travel benefits, this card could be a decent choice for you. If you plan to take advantage of the travel perks, credits, discounts and lounges, and value an extravagant gold-plated credit card, you may find that the Mastercard® Gold Card could certainly be worth it.
Global Entry Or Tsa Precheck Membership
The Platinum Card from American Express also offers a credit for Global Entry or TSA PreCheck.
This is worth up to $100 and can be used once every four years for Global Entry or once every 4.5 years for TSA PreCheck. Military members can speed through customs whenever they fly internationally on a commercial airline. If you already have Global Entry yourself, you can use the credit to cover a family members application fee.
The Amex Platinum provides hundreds and hundreds of dollars in various travel credits each year.
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Why The Amex Platinum Card Is One Of The Best Credit Cards For Military Members In 2022
The value of The Platinum Card® from American Express lies within its heavily stacked travel rewards. Military personnel love traveling, and with the annual fee waived for active duty military, it makes the decision a no-brainer.
- Welcome offer of 100,000 bonus Membership Rewards points after you spend $6,000 in the first 6 months of card membership.
- Earn 5X points for flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year.
- Earn 5X points on prepaid hotels booked with American Express Travel.
- From account opening: complimentary access to the Global Lounge Collection, the only credit card airport lounge access program that includes proprietary lounge locations around the world.
- An airline credit value of $200 of services rendered. You cannot apply this credit to airline tickets, but select airlines will allow you to apply this to baggage fees and lounge privileges.
Victorias Secret Scra Benefits
Benefits: ?Victorias Secret will only apply benefits for an account of a service member or where the service member is a co-signer, not just an authorized user. Also, the card has to have been obtained BEFORE the service member started active duty. The cap of APR will be at 6%
How to apply: Contact 1800-695-9478 and request the benefits you will then be emailed a form and you will need to fax it with your spouses orders
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American Express Offers Major Perk To Active Military Members
Active-duty United States military services members and their spouses are eligible to get the annual fees waived on any American Express credit card. That even includes The Platinum Card® from American Express, which carries a hefty $695 annual fee.
Whether you already have an Amex card or are considering getting one, youll want to make sure youre taking advantage of this perk.
I spoke with an American Express customer representative to get the details on how this works.
Amex Platinum Frequently Asked Questions
Is American Express Platinum free for military?
Yes! The AMEX Platinum card for US military servicemembers AND their spouses has NO annual fee. The normal $695 annual fee is waived under Amex’s interpretation of the Servicemembers Civil Relief Act and Military Lending Act laws.
Where can I apply for the Amex Platinum?What credit score is needed for Amex Platinum?
Usually the Platinum Card for American Express requires good to excellent credit. That means at least 700 points out of a maximum 850 FICO score. You can check your credit score fore free with Credit Karma or Credit Sesame.
Does American Express waive annual fees for military spouses?
Yes, Amex waives all of their annual fees, including on the Platinum card, for US military spouses.
How does Amex waive annual fee for military?
Amex waives the annual fee on all of their cards, including the AMEX Platinum. Cards opened while on active duty are waived with Military Lending Act . Cards opened before active duty are waived with SCRA.
Is the Amex Platinum card metal?
Yes, the Amex Platinum card is made out of metal and will even rust if left in water. The card makes a satisfying thunk sound when you throw it down. You’ll want to pick up the bill for your friends just to drop it on the table!
How do I apply for Amex MLA benefits?How do you know if you are an Amex covered borrower?How to get Amex Platinum fee waived?Which credit cards are fee waived for military?
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How We Evaluated Amex Platinum Vs Chase Sapphire Reserve
There is much to consider when shopping for a credit card, so we take a thorough approach when comparing the Amex Platinum versus Chase Sapphire Reserve. Our detailed analysis looks at crucial factors such as pricing and fees while also considering the latest introductory offers and sign-up perks to keep you in the know. When you are on the road, you need to know that you are protected, which is why we consider what security and travel features each provider offers to keep you safe on the many adventures to come. We take the time to absorb the fine print to make the best decision for you and your family when choosing between Amex Platinum and Chase Sapphire Reserve.
To see rates and fees for The Platinum Card® from American Express, please see the rates and fees.
Best With A Low Apr During Active Duty: Citi Rewards+
For a limited time, earn 20,000 bonus points after spending $1,500 within the first 3 months of account opening, redeemable for $200 in gift cards.
|Rewards Earning Rate||Earn 2X ThankYou Points at supermarkets and gas stations for the first $6,000 per year and 1X points on all other purchases. For a limited time, earn 5 ThankYou Points per $1 spent on air travel and hotels up to $6,000 in the first 12 months and then 1 ThankYou Points per $1 spent thereafter.|
|INTRO PURCHASE APR|
- Why We Chose This Card:
- Pros & Cons:
When it comes to cutting costs, Citi goes beyond whats required by the SCRA, which makes this card our top pick if you want to save on interest costs while on active military duty. If you qualify for SCRA benefits, Citi will reduce your APR to 0% and waive all fees charged to your account while youre serving, which is awesome . We also love this card for its unusual rewards scheme. Youll get 2X ThankYou Points at supermarkets and gas stations for the first $6,000 per year and 1X points on all other purchases. For a limited time, earn 5 ThankYou Points per $1 spent on air travel and hotels up to $6,000 in the first 12 months and then 1 ThankYou Points per $1 spent thereafter. And then this card rounds up the rewards earned on each purchase to the nearest 10 point-increment. The competitive 0% APR for 15 months offer and no annual fee make this card a well-rounded choice for any service member.
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Blue Cash Preferred From American Express
If youre looking for a card that rewards spending at places like supermarkets or gas stations, you may want to consider the Blue Cash Preferred® Card from American Express.
This $95 annual fee card can earn you up to 6% cash back on groceries and streaming services. It also can earn you 3% back on gas purchases and other types of transit expenses.
Its welcome bonus offer could net you up to $350 in cash back when you spend at least $3,000 within the first six months of card membership. And it has an intro 0% APR period. Terms apply.
What Military Relief Does Amex Offer
Both the SCRA and MLA cap the amount of interest that can be charged on credit linesalbeit at very different rates. The SCRA explicitly includes annual membership fees in the calculation of interest. To avoid running afoul of either of these laws, American Express generally waives membership fees for eligible service members.
Its important to note that American Express doesnt expressly state that it waives all annual fees for all service members. Instead, eligible military service members need to apply for relief and American Express considers each cardmembers situation individually.
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Priority Pass Membership & Centurion Lounge Access
Even if your posting requires international travel, youre likely to be covered by the Amex Platinums incredibly comprehensive lounge benefits. On top of Delta SkyClub access, Platinum cardholders will enjoy a Priority Pass Select membership with complimentary access for up to two guests, and access to Amexs incredible collection of Centurion lounges around the world. While they can be crowded at times, Centurion lounges often offer an elevated food and drink experience and are worth checking out if you can.
Can I Find Out If I Am Eligible For An Annual Fee Waiver Before I Apply For The Amex Platinum Card
The annual fee waiver is a guarantee for active military! However, you should be aware that youll need solid credit in order to receive the card. The average credit score for approval is around 715-720, but some recipients have said that they received one in the 600 range.
Want to brush up on your basic credit knowledge? Check out our !
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Up To $240 In Digital Subscription Credits
The Platinum Card‘s new digital subscription credits are awarded in chunks of up to $20 per month . Enrollment is required before you can use this perk.
Eligible digital subscription services include:
- Audible Plans start at $7.95 per month
- The New York Times $17 every four weeks for a standard subscription
- SiriusXM Plans start at $10.99 per month
- Peacock Plans start at $4.99 per month
Heres Who Qualifies For The American Express Platinum Card Military Benefit:
American Express Platinum card income requirements arent public knowledge, but applicants with an annual income of $100,000 and above tend to have the best odds of approval, according to anecdotal evidence. Some forums, however, report people getting the Platinum card with an annual salary of $40,000-$50,000.
Officially, Amex just requires that applicants demonstrate an ability to afford the cards $695 annual fee and pay the entire balance in full, when applicable. Generally, the higher ones annual income and the lower ones debt, the better the chance of being approved. But in addition to the Amex Platinum card income requirements, American Express considers factors such as your credit score, payment history and debt-to-credit ratio, among others.read full answer
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Platinum Cardfrom American Express
If youre more of a traveler, you may prefer to indulge with the Platinum Card®from American Express.
This card carries a hefty $695 annual fee, so the military waiver would be particularly helpful here. And it comes with travel-related perks that can have plenty of value for the avid traveler.
Some of those include an annual $200 hotel credit, an annual $240 digital entertainment credit, a $300 Equinox credit, hotel status upgrades and access to airport lounges. Terms apply.
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The Amex Platinum Card Is Free For Active Duty Military
New users get 1 year FREE of M1 Plus and earn $30 if they fund their accounts with $1000 or more in the same month!
- $0 commission-free trading
- Investing made easy with automatic rebalancing
- Low 2% rate for emergencies or to consolidate loans
Start a new,
Its a bit of an open secret on military bases: active duty service members can get The Platinum Card® from American Express without paying the annual fee. This is one of the most coveted credit cards of all, offering some of the most remarkable benefits of any travel rewards card on the market in 2022 . However, those perks come with a hefty price tag of $695 for most people, but active duty military members get the fee waived entirely.
We are going to show you exactly how active duty military members can secure a card with the waived annual fee, and why this card in particular is so beneficial for active-duty military members.
Lets take a deeper look.
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Our Pick For: Cash Back / Paying Off Debt
Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.. $550 annual fee. Requires excellent credit.
SCRA policy: For SCRA-eligible credit card accounts, Chase waives applicable fees and reduces interest rates to 4% while youre on active duty and for a year afterward, according to a Chase spokeswoman.
High rewards rate: Earn 3 points per dollar spent on travel and dining. Purchases made through Chase Ultimate Rewards earn even more: 10 points per dollar on Chase Dining, hotel stays and car rentals and 5 points on air travel. Earn 1 point per dollar spent on all other purchases.
Rich travel benefits, including a travel credit of up to $300 a year and Priority Pass Select membership
Big sign-up bonus: Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.
High annual fee of $550
Not a good option for folks who don’t spend a lot on travel and dining
Among luxury travel cards, Chase Sapphire Reserve® is a top choice. With Chase’s solid SCRA benefits, it’s even more worthy of your attention especially if you spend plenty on travel and dining.
Firsthand Experience With This Amex Benefit
My friend Derek is an active duty Army major and he opened The Platinum Card® from American Express and I wanted to report his firsthand experience getting the fees waived. He initially called right after he received the card, and they told him he needed to wait until the $550 annual fee charge posted to his account before they could initiate the process.
When the annual fee did hit his account, he called and the initial American Express representative he spoke with knew exactly what he was referring to, and she asked him some very basic questions the entire call took less than 5 minutes. They told him it would take 45-60 days to process and the fee would credit back to his account. He did have to pay the annual fee out of pocket upfront and was reimbursed for it within 2 months, so the net cost was $0 for this and all future years.
Update2: Another Army officer Im working with opened this card and this was his experience: Amex handled my request within 2 days. Never even charged me outright- worked seamlessly.
Richmond Savers has partnered with CardRatings for our coverage of credit card products. Richmond Savers and CardRatings may receive a commission from card issuers.
Take Your Family to Disney for Pennies on the Dollar!
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The Cool New Benefits
- Enjoy Uber VIP status and up to $200 in Uber savings on rides or eats orders in the US annually. This is allocated as a $15 credit per month, except for December, which is $15 plus a bonus $20.
- $200 hotel credit per year: Get up to $200 back in the form of statement credits on prepaid stays at Fine Hotels + Resorts or The Hotel Collection that you booked with your Platinum card.
- $179 credit towards the biometric airline entry system CLEAR . This covers the cost of the yearly membership.
- $300 credit towards Equinox gyms. This credit is applied in $25 monthly increments for use towards Equinox All Access, Destination, or E by Equinox membership fees, or for Equinox+. Please note that enrollment is required in order to redeem these monthly credits.
- $240 digital entertainment credit for eligible purchases for the following digital services: Peacock , The New York Times, Audible audio books and SiriusXM. Enrollment required.
- No foreign transaction fees
- Terms Apply
Amex Platinum Military 2022
Military Money Manual has partnered with CardRatings for our coverage of credit card products. Military Money Manual and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the authors alone, and have not been reviewed, endorsed or approved by any of these entities. Thank you for supporting my independent, veteran owned site.
The Platinum Card® from American Express military policy waives the $695 per year annual fee on the Amex Platinum card for active duty servicemembers and military spouses.
The American Express Platinum military fee waiver removes the annual fees to comply with the Military Lending Act and Servicemembers Civil Relief Act .
If you are in the military on active duty orders, you are eligible to enroll in the American Express Platinum Military Lending Act benefits. As long as you are in the DoD MLA database, then you should have automatic MLA benefits applied to your Amex Platinum account when you apply through the links below.
If you are a military spouse married to an active duty US servicemember, you are also eligible to have your account enrolled in Amex Military Lending Act benefits and pay no annual fees. Again, you just need to check that you eligible for MLA benefits in the MLA database.
Learn how to apply for the Amex Platinum for Military
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