Are you a retired military member looking for the perfect credit card to fit your unique needs? Look no further! In this article, we'll explore the best credit cards for retired military personnel, covering all the perks, benefits, and rewards tailored specifically for you. Don't let your hard-earned military retirement go to waste - arm yourself with the perfect credit card and make the most of your post-service life.
Best Credit Cards For Retired Military Table of Contents
What to Look for in Credit Cards for Retired Military
1. Low Interest Rates and Fees
As a retired military member, you deserve a break from high-interest rates and excessive fees. Look for credit cards that offer discounted rates and waive fees like annual fees, balance transfer fees, and late fees.
2. Rewards Programs
Choose a credit card with rewards programs that cater to your interests and spending habits. Some options to consider include cash back, travel rewards, or points towards your favorite retail stores.
3. Military Perks
There are credit cards exclusively tailored for military personnel, offering benefits such as reimbursement for TSA PreCheck or Global Entry fees, waived overseas transaction fees, and more. Be sure to pick a credit card that recognizes your service.
4. Customer Service
Ensure the credit card company has a history of providing excellent customer service, especially to military members. This includes 24/7 customer support and assistance with issues that may arise while traveling or during a deployment.
Our Top Credit Card Picks for Retired Military
1. USAA Cashback Rewards Plus American Express Card
- No annual fee
- 5% cashback on gas and military base purchases (up to $3,000 annually)
- 2% cashback on groceries (up to $3,000 annually)
- 1% cashback on all other purchases
2. Navy Federal Credit Union Platinum Card
- Lowest interest rates offered by Navy Federal
- No annual, balance transfer, or foreign transaction fees
- Collision damage waiver coverage for rental cars
3. Chase Sapphire Preferred Card
- Earn 2 points per dollar spent on travel and dining, and 1 point per dollar spent on other purchases
- Flexible rewards redemption, including travel, statement credits, or gift cards
- Annual fee waived for active duty military
- Excellent travel benefits, including no foreign transaction fees and free airport lounge access
Best Credit Cards For Retired Military Example:
Let's assume you're an avid traveler now that you are retired from the military. The Chase Sapphire Preferred card may be the ideal option for you. By using your Chase Sapphire Preferred card, you can earn 2 points for every dollar spent on flights, hotels, dining, and more. You can then redeem these points through the Chase Ultimate Rewards portal, allowing you to save on your travel expenses.
For instance, if you spend $5,000 on travel and dining throughout the year, you would earn 10,000 points. These points could be redeemed for $125 in travel credits or other rewards, such as gift cards for popular retailers.
Now that you have the knowledge and tools necessary to select the best credit card for your retired military lifestyle, it's time to apply and start enjoying all the benefits. Remember to always use your card responsibly and make timely payments to maintain a healthy credit score. Share this guide with your fellow retired service members so they can also arm themselves with the perfect credit card. Don't forget to explore other Flik Eco guides for more personal finance and investing tips tailored for all walks of life.
