How To Get Amex Platinum Fee Waived Military

How To Get Amex Platinum Fee Waived Military

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How To Apply For The American Express Platinum

AMEX Platinum Military | $550 Annual Fee Waived With SCRA!

Youll apply for the Amex Platinum card in the same way that everyone else does. The process of getting your annual fee waived comes later.

To apply, simply fill out the application online. If you already have an Amex card, you can log in and the site will pre-fill your information. If not, youll have to provide personal information like your name, address, income, and social security number. Applying only takes a matter of minutes, and some people will get an instant approval.

Just remember, Amex limits you to earning the bonus on each card once per lifetime. And to be approved for the Amex Platinum card, youll need a credit score of at least 700 if not better.

Does The Mastercard Gold Card Waive Its Annual Fee For Military Members

No, the Mastercard® Gold Card does not waive its annual fee for active military members. Though Barclaycard previously offered perks like 0% APR and no annual or late fees to active duty military cardholders, they have since removed those benefits. However, there are still a few Mastercard® Gold Card military benefits that are required by the Servicemembers Civil Relief Act these include items like a capped interest rate during and after the time of active military duty.

What Are Scra Credit Card Benefits

The SCRA is a legal mandate that requires all credit card issuers to extend certain relief measures to eligible active-duty military personnel. These measures only apply to credit card accounts that were opened before active duty began .

The two main SCRA benefits that apply to credit cards are:

  • A maximum APR of 6% for credit card debts owed before entering active duty
  • Credit card issuers are not allowed to reduce or cancel credit cards as a result of entering active-duty service

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Best Hotel Rewards: Marriott Bonvoy Boundless

Earn 3 Free Nights after you spend $3,000 in the first 3 months from account opening.

$95
Rewards Earning RateEarn up to 17X total Bonvoy points per $1 spent at over 7,000 hotels participating in Marriott Bonvoy.
Balance Transfer FeeEither $5 or 5% of the amount of each transfer, whichever is greater.
Foreign transaction fee
  • Pros & Cons

Our choice for the best hotel rewards card is the Marriott Bonvoy Boundless card because it includes automatic Silver Elite status, 15 Elite Night Credits per year, and includes one free night award each year on your account anniversary. Silver Elite status includes free Wi-Fi, late checkout, and a 10% bonus on points earned at Marriott hotels. Plus, you’re fast-tracked to earning higher levels of elite status each year with the 15 Elite Night Credits from the Marriott Bonvoy Boundless. The free night award can be booked for a one-night hotel stay at any Marriott Bonvoy property valued up to 35,000 points. New cardholders can earn five free hotel nights after spending at least $5,000 during the first three months after opening their account.

  • Solid rewards rate for Marriott hotel stays

  • Automatic Silver Elite Status in the Marriott Bonvoy program

  • $35,000 spending per year to upgrade to Gold Status

  • Bonvoy hotel rewards account must stay active to avoid points expiration

  • $95 annual fee may be off-putting to the fee-averse

Amex Platinum Military 2021

Amex Platinum Military Benefits ($550 Annual Fee Waived ...

Let me show you how to get your first $695 credit card annual fee waived in my Ultimate Military Credit Cards courseThe Platinum Card® from American Express card is annual fee waived for military.

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 Amex 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 Amex 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.

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Amex Gold Card Military Benefits

The chief military specific benefit on the AMEX Gold card is the $250 annual fee waived for active duty troops and spouses.

Other key benefits include the welcome bonus of 60,000 points after spending $4000 in the first 6 months of Card Membership.

60,000 AMEX points are worth approximately $1200. Usually I can get 2 cents of value per AMEX Membership Reward points.

Sometimes you can get much more than 2 cents per AMEX point. For example, I recently booked a round trip, first class flight for my wife and me to go to Japan next year.

These flights would have cost $27,000, but I I cashed in 240,000 AMEX MR points instead for a valuation of over 11 cents per AMEX MR point. Here’s two screenshots comparing the cash price vs the points price.

At 11 cents per point, the AMEX Gold Card welcome offer is worth $6600, which is more than minimum spend required!

Earn 50000 American Airlines Aadvantage Bonus Miles Plus Travel Benefits

Bonus miles earned after $2,500 in purchases within the first 3 months of account opening

Annual fee $99, waived for the first 12 months*

Citi®/ AAdvantage® Platinum Select®

First checked bag free on domestic American Airlines itineraries for you and up to 4 travel companions

Preferred boarding on American Airlines flights

25% savings on inflight food and beverage purchases on American Airlines flights when you use your card

Earn 2 miles for every $1spent at restaurants and gas stations

Earn 2 miles for every $1 spent on eligible American Airlines purchases

Earn 1 mile for every$1 spent on other purchases

Earn a $125 American Airlines Flight Discount after you spend $20,000 or more in purchases during your cardmembership year and renew your card

No foreign transaction fees on purchases*

Add authorized users to your accountat no additional charge

Read Also: How Does Verizon Military Discount Work

Are Credit Card Rewards Taxable

Luckily, the IRS rules do not consider credit card rewards as taxable, and the value of which does not need to be claimed on tax forms. Its likely this is because the rewards are earned by spending after-tax dollars on credit cards and are offered as an incentive by the card issuer. However, we cant rule out the possibility that the IRS could change its mind at some point in the future and begin taxing the value of rewards.

What To Do With Fee Waived Credit Cards When You Retire Separate Or Leave The Military With Your Dd214

Does American Express Waive Annual Fees For Military? – Amex Military Fee Policy with SCRA and MLA

Let me show you how to get your first $695 credit card annual fee waived in my Ultimate Military Credit Cards courseThe Platinum Card® from American Express card is annual fee waived for military.

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.

What should you do with your annual fee waived credit cards when you leave, retire, or separate from military service? Military servicemembers and military spouses get their annual fees waived on all Chase and American Express personal cards. There are over 30 cards that waive annual fees for military.

All of these sweet MLA and SCRA annual fee waivers will come to an end when you retire, separate, or otherwise depart the military.

Should you close ALL of your credit card accounts when you leave the military?

My recommendation is no. Keep the cards open from which you are still getting value. Close the cards which do not justify their annual fee. Downgrade expensive cards to lower annual fee cards to retain your points and lower your annual costs.

  • Frequently Asked Questions
  • Read Also: How To Get Verizon Military Discount

    Contact Your Card Issuer

    Even if youre not in the market for a new card, check with your current credit card issuers to see if they offer any special benefits to service members. Some go above and beyond, offering lower rates and even waived annual fees to eligible active-duty service members.

    About the author:

    Read More

  • Quick Tips for Your Credit Health
  • Which Credit Cards Waive Fees For The Military

    Active-duty military personnel may be eligible for SCRA credit card benefits, which include a cap of 6% on interest rates .

    But some card issuers will go even further, like reducing APRs to 0% and waiving some or all card fees .

    American Express cards, for example, will waive annual fees and late fees Capital One and Chase cards will waive all fees and Citi cards will waive all fees and reduce APRs to 0% for balances accrued before active duty began.

    You can see all the possible military benefits by card issuer right here.

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    Best Credit Cards For Veterans And Military Retirees 2021

    Let me show you how to get your first $695 credit card annual fee waived in my Ultimate Military Credit Cards courseThe Platinum Card® from American Express card is annual fee waived for military.

    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.

    Unfortunately, the nearly unbelievable SCRA and MLA benefits American Express, Chase, and other credit card companies extend to active duty servicemembers does not apply to military veterans and retirees.

    Military vets and retirees must pay annual fees on Amex and Chase cards just like civilians. Sometimes the fee waivers continue when you leave active duty, so make sure you open all the cards you can before leaving active duty.

    That being said, there are still excellent travel reward and cash back credit cards available to veterans and retirees. You want to look for a credit card that offers a large welcome bonus, great recurring benefits, and great rewards for spending in travel categories.

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    The Chase Sapphire Preferred card is the little brother to the Chase Sapphire Reserve and comes with amazing Sapphire benefits.

    Best cards for Military Veterans and Retirees:

    Active Duty: Military Lending Act

    Amex Platinum Military 2021

    The Military Lending Act waives the annual fees for personal American Express cards, but not business cards.

    MLA is not to be confused with Servicemembers Civil Relief Act , which no longer qualifies for waived fees.

    Under MLA, you can get the Platinum , Platinum Schwab, or Platinum Morgan Stanley — or all 3 — and the fees should be waived.

    Before canceling the Platinum cards, you would want a solid foundation of cards with no annual fee downgrade paths to preserve your credit history. Once you stop qualifying for MLA, your annual fees will hit upon renewal. The Platinum cards can only be product changed to the American Express Gold Card and the American Express Green Cards, which both have annual fees.

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    Amex Platinum Waives The $550 Annual Fee For Active Duty Military Members

      Forbes has partnered with The Points Guy for our coverage of credit card products. Forbes and The Points Guy may receive a commission from card issuers.

      For most cardholders, The Platinum Card® from American Express comes with a hefty $550 annual fee. While the valuable benefits can get you far more value than $550, that upfront cost can sting. Thankfully American Express recognizes the many sacrifices that active duty military members make for our country and offer them a number of great perks along with a waived annual fee for the Platinum Card.

      The Final Word On The Amex Platinum

      The Platinum Card from American Express is one of the best travel on the market. Its packed full of perks and benefits that take travel to a whole new level, but it also comes with a hefty annual fee.

      However, as an active-duty service member, you can have this fee waived. That means you get to enjoy all the benefits this card has to offer without it costing you a cent. If you qualify for this perk, call an American Express representative so you can take advantage of having your Amex Platinum annual fee waived.

      Best Luxury Travel Benefits

      Benefits

      • Earn 100,000 Membership Rewards points after spending $6,000 in the first 6 months
      • 10X points at restaurants worldwide and when you Shop Small in the U.S.
      • 5X points on eligible flights and hotels
      • $200 hotel credit, $240 digital entertainment credit, $200 in Uber Cash, $300 Equinox credit, $200 airline fee credit
      • Access to Centurion and Priority Pass airport lounges
      • Select benefits require enrollment.
      • $695 annual fee. Terms apply.

      Drawbacks

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      What Is The Amex Platinum Military Fee Waiver

      If you are a qualifying active-duty member of the military, youll be able to have the $695 annual fee of the Platinum Card waived!

      This is not a required federal Servicemembers Civil Relief Act benefit but is a special perk offered by Amex. Its worth noting that other banks offer this perk as well. For example, you can get the Chase Sapphire Reserves $550 annual fee waived as well.

      Interested in the Platinum Card?

      Best For Cash Back: Capital One Quicksilver Cash Rewards Credit Card

      Amex Platinum for FREE?! How to Waive the Annual Fee

      Earn a one-time $200 cash bonus once you spend $500 on purchases within 3 months from account opening.

      1.5% cash back on every purchase, every day.
      INTRO PURCHASE APR0% for 15 Months
      Balance Transfer Fee3% of the amount of each transferred balance that posts to your account at a promotional APR that we may offer you. None for balances transferred at the Transfer APR.
      Foreign transaction fee
      • Pros & Cons

      The Capital One Quicksilver Cash Rewards Credit Card has a low interest rate and high rewards on all spending, plus no annual fee. The absence of a foreign transaction fee makes this a rare cash back credit card thats worth bringing on a trip abroad.

      • Simple rewards program with a solid return

      • No annual or foreign transaction fees

      • No penalty APR

      • One-time bonus is relatively modest

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      Up To $200 Per Year Hotel Credit

      Cardholders will get up to $200 in credit each calendar year toward prepaid bookings at Amex Fine Hotels and Resorts or Hotel Collection properties when they book with their card through Amex Travel.

      Read more: How to use the Amex Platinum prepaid hotel credit

      Fine Hotels and Resorts bookings include perks such as free breakfast, guaranteed late checkout, room upgrades and early check-in when available, and a welcome amenity or credit unique to each property. If you would have otherwise paid cash for a luxury hotel stay, this perk can effectively shave $200 off your annual fee cost.

      Bookings with The Hotel Collection must be for a minimum of two nights, and include benefits like room upgrades and a $100 on-property credit.

      Amex Platinum Is Free For Military

      This benefit is particularly valuable for holders of the American Express Platinum Card.

      The AMEX Platinum Card offers a variety of exceptional benefits with a steep annual fee to match. Most cardholders must pay $550 per year. Adding one to three authorized users costs an additional $175 per year. A husband and wife holder of the card can, therefore, expect to pay $725 in annual fees.

      Thats pretty steep, though arguably worth it. The card offers exceptional value for the money, especially if you are a frequent traveler.

      For those on active duty, however, its a no-brainer. The AMEX Platinum is free for military personnel. This is an exceptionally generous offer.

      Perhaps its altruistic, but its good marketing as well. I would probably have never signed up for the card if it werent free. Yet, after having experienced its benefits, I will likely keep it after completing my time in the service. The benefits are worth the cost.

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      How To Get Amex Scra Benefits

      Please note you only need to apply for AMEX SCRA benefits if you opened the account BEFORE active duty military service. If you open your AMEX account while on active duty military service, you will automatically be enrolled in AMEX Military Lending Act.

      To have AMEX handle your account in accordance with the SCRA, you can go 2 ways: call AMEX or apply online. The online application is easy and they are quick to respond. Follow this 3 step process or click the picture:

    • Log in to your account, click Account Services
    • If you want to call, simply dial the number on the back of your card or 1-800-528-4800. Tell them you are serving on active duty military and had heard that AMEX offers to handle your account in accordance with the Servicemembers Civil Relief Act.

      You will be asked 5-10 questions about your situation, such as when you entered active duty and how long your commitment is.

      This information is then verified by AMEX before they approve your account for the fee waivers. The entire process took about 6 weeks for me, from phone call to receiving the secure message that my account had been approved.

      You can check your eligibility before you even apply at the official DOD SCRA and MLA websites here and here.

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