Being in the military comes with its own set of unique challenges and opportunities. But did you know there are credit cards out there tailored specifically for service members? These cards come with excellent benefits and rewards to help you manage your finances better. In this article, we'll help you find the best credit cards for service members and explain why these options stand out above the rest.
Best Credit Cards For Service Members Table of Contents
Why Service Members Need Special Credit Cards
Service members face unique financial challenges, especially when they're deployed overseas. It's important for them to have access to credit cards that cater to their specific needs, including lower interest rates, no foreign transaction fees, and extra security features. Fortunately, several financial institutions offer credit cards tailored to service members, providing them with financial tools they can rely on.
Top Credit Cards for Service Members
1. Chase Sapphire Preferred Card
Best for: Travel rewards and no overseas transaction fees
- Earn 2x points on travel and dining worldwide
- No foreign transaction fees
- 1:1 point transfer to leading airline and hotel loyalty programs
- 60,000 bonus points after spending $4,000 on purchases in the first three months
- Visa Signature benefits, including complimentary concierge service and travel insurance
- $95 annual fee
2. USAA Cashback Rewards Plus American Express Card
Best for: Cashback rewards and military benefits
- Earn 5% cashback on the first $3,000 spent annually on gas and military base purchases
- Earn 2% cashback on the first $3,000 spent on supermarket purchases annually
- Earn 1% cashback on all other purchases
- No annual fee or foreign transaction fees
- Special military benefits, including a lower APR during deployment and SCRA interest rates
- Minimum payment waived for up to 12 months during deployment
3. Navy Federal More Rewards American Express Card
Best for: Everyday rewards and no annual fees
- Earn 3x points on dining, supermarkets, and gas stations
- Earn 1x point on all other purchases
- No annual or foreign transaction fees
- 24/7 customer service and fraud protection
- Exclusive access to ticket presales and American Express Experiences
Best Credit Cards For Service Members Example:
Imagine you're a service member frequently deployed overseas. You're looking for a credit card that will help you save on travel-related expenses while offering valuable rewards. The Chase Sapphire Preferred Card is an excellent choice. With no foreign transaction fees and doubled rewards on travel and dining, this card will serve you well during your international trips. Plus, you'll have access to Visa Signature benefits like travel insurance and concierge service for added convenience.
Finding the right credit card as a service member is crucial, given the unique financial challenges you face. Consider your specific needs and priorities when selecting a credit card, such as cashback rewards, travel perks, military benefits, or a combination of these factors. The credit cards mentioned above are excellent options to explore and may help simplify your financial management while serving your country.
If you found this article helpful, please consider sharing it with your fellow service members who might also benefit from this information. Don't forget to check out our other guides on Flik Eco for more valuable personal finance tips and investing insights. Together, we can work towards making financial planning simple and accessible for everyone.
