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I have written about Chase and American Express waiving fees for active duty military members. They are some of the most generous benefits as it pertains to saving money on credit card bills. May is the anniversary month of my Servicemembers Civil Relief Act (SCRA) benefits from Chase. In the past, I have called Chase to continue the benefits but now it appears that the phone call will no longer be needed. I received a letter from Chase stating that the SCRA benefits had automatically been extended. Chase verified (not quite sure how) my active duty status through the Department of Defense Manpower Data Center. Once the verification occurred, my benefits were extended by a year. FYI: SCRA benefits expire one year after the military service ends.
Here is a quick recap of the SCRA benefits from Chase:
- Annual Percentage Rate (APR) will not be higher than 4%
- If you have a lower APR, that rate will apply.
- All fees (foreign transaction, late, and annual) are waived.
- Refunds will be issued for previous fees or interest charges.
Final Word
I am thankful that I get to wake up and do what I love every day. Some days are longer than others but the support from people throughout this country can be felt and is greatly appreciated. Thank you Chase.
If I get a chase business card in my business name obviously but personally guarantee it with my personal credit, does the SCRA still apply because I’m active duty business owner?