Individuals of our military services that are on active duty, and their family members, are confronted with several specific problems. Fortunately, they also get numerous unanticipated perks, which includes credit cards. The blog site Military Money Manual, compiled by an enrolled member of the Air Force, knows that American Express can waive a lot of its charges on almost all of its cards which are used by active duty personnel of the military services.
Personal Finance Challenges
As outlined by Spencer (author of the above mentioned blog), military personnel do not seem to be more or less financially competent compared to civilians, however they deal with a completely unique set of issues with regards to controlling their financial situation and credit standing. To illustrate, …show more content…
The average service member have little to no time to manage finances due to the very long hours and the likely prospect of being relocated at a moment’s notice.
How does the American Express Fee Waivers Work?
Cardholders can get in touch with American Express customer support and let them know they are active duty military service, and ask for fee waivers in keeping with the Service members Civil Relief Act ( SCRA ). This act demands that banking institutions provide an interest level of a maximum of 6 % on debts acquired prior to starting active duty. Additionally, American Express seems to be going above the lawful demands in waiving all yearly account charges, overdue fees, over limit fees, returned payment fees and billing statement reproduction request fees for military personnel currently deployed.
Service members must supply their credentials to American Express, which then verifies that the cardholder is in fact on active duty. Spencer has also heard from other service members that American Express may even refund fees that were paid during the time the card member was on active
Personal Finance Challenges
As outlined by Spencer (author of the above mentioned blog), military personnel do not seem to be more or less financially competent compared to civilians, however they deal with a completely unique set of issues with regards to controlling their financial situation and credit standing. To illustrate, …show more content…
The average service member have little to no time to manage finances due to the very long hours and the likely prospect of being relocated at a moment’s notice.
How does the American Express Fee Waivers Work?
Cardholders can get in touch with American Express customer support and let them know they are active duty military service, and ask for fee waivers in keeping with the Service members Civil Relief Act ( SCRA ). This act demands that banking institutions provide an interest level of a maximum of 6 % on debts acquired prior to starting active duty. Additionally, American Express seems to be going above the lawful demands in waiving all yearly account charges, overdue fees, over limit fees, returned payment fees and billing statement reproduction request fees for military personnel currently deployed.
Service members must supply their credentials to American Express, which then verifies that the cardholder is in fact on active duty. Spencer has also heard from other service members that American Express may even refund fees that were paid during the time the card member was on active