The best military credit cards of 2018 – creditcards.com electricity calculator

####

Military personnel have a special place in many banks’ hearts, with credit cards made available to support our troops both spiritually and financially. While military members have protections in place to protect their personal finance, they still can face vulnerability. Here are common card habits and how military members fare: Military members in the last 12 months…

Finally, as a member of the military, you can get 4% APR on all balances up to 12 months during deployment or permanent change of station (PCS) with this card, as well as a special 4% APR rate on a balance you have when you enter military service, and get 4% on that existing balance until one year after you complete active duty.

With the PenFed Power Cash Rewards Visa Signature, you can earn 1.5% cash back on all purchases, and current and former military members or holders of an active PenFed Access America Checking Account who apply for the PenFed HonorsAdvantage membership earn an incredible 2% cash back on all purchases.

The Go Rewards Credit Card from Navy Federal Credit Union offers 3X points on restaurants; 2X points on gas; and 1X point on everything else. Although the rewards expire after 4 years, there is no limit, and redemption starts at only 1,000 points.

To qualify for this card, you must be a member of Navy Federal Credit Union (membership is available to all serving in the armed forces, the Department of Defense, veterans, and their families). Exclusive benefits for military members, veterans and their families

While there are protections for interest rates already in place for service members through the Military Lending Act and Servicemembers Civil Relief Act, The Points Guy found that many of the major credit card issuers will waive most fees for active duty service members, including annual fees. TPG talked to American Express, Barclays, Bank of America, Capital One, Chase and Citi.

TPG points out that with such benefits as a military member, you could conceivably get a high-annual-fee card like The Platinum Card from American Express with little downside. This would give you access to such rewards as transferring points to airline and hotel partners.

• Capital One caps rates for cards and other eligible loans at 4% – 2 points less than what’s required by law, says creditcards.com. Also waived are expedited processing fees for a replacement card, late payment fees, cash advance fees, balance transfer fees, over-limit fees and more. Capital One grants SCRA benefits for new cards and extends benefits for up to a year after a cardholder has left active duty service.

• USAA celebrates your service with rates capped at 4% for both pre-existing debt and new charges, creditcards.com points out. Military families are eligible when a service member is deployed abroad or when a military family is given a permanent change of station. USAA also gives cardholders up to a year after active duty has ended to request retroactive benefits.

• Low interest rates: Military cards can have rock-bottom interest rates. For example, the average minimum interest rate on a military card is just 10.65% – 6 points less than the national average. These rates are for family members and military cardholders who aren’t currently on active duty and so don’t qualify for SCRA benefits, says creditcards.com.

• Fewer fees: Military cards also carry fewer fees than the typical credit card. For example, nearly half of the military cards surveyed don’t charge a penalty APR. None charges foreign transaction fees, and 7 waive credit card balance transfer fees.

• Good rewards: Rewards are good for cards with such low rates, creditcards.com notes. Among the cards surveyed, 6 offer 1.5% to 2.5% back on every purchase. Two offer 5% back on gas. One offers 5 points back for travel purchases, creditcards.com found.