Service Members Civil Relief & MLA FAQs | American Express (2024)

FAQs

Do veterans get Amex fees waived? ›

While active duty military members can have their annual fee for American Express credit cards waived entirely, the same isn't true for military veterans. Once you're no longer active, the SCRA and MLA benefits come to an end — including waived fees for service members.

American Express provides relief for those on active duty under the Servicemembers' Civil Relief Act (SCRA) and Military Lending Act (MLA). Eligible American Express Card Members may be entitled to relief under one of those acts.

If you took out an automobile, home, or student loan or incurred credit card debt prior to becoming a servicemember (also known as a “pre-service obligation”), or if you took out such a loan jointly with your spouse, then you are entitled to have your interest rate reduced to a maximum of 6 percent per year.

Although these laws have many applications, two of the benefits remain the same: They limit the fees banks charge people in the armed forces for credit. Therefore, The Platinum Card® from American Express has no annual fee for military members.

No, Amex does not waive annual fees for retired military. However, many servicemembers report that, after separating or retiring from military service, AMEX continues to waive annual fees on all of their cards for a few years after you leave. This includes fee waivers on the Amex Platinum card.

How to ask for a credit card fee waiver. However you're able to contact American Express (email, live chat, mail, etc.), the hands-down best way to ask for a fee waiver is to call. Immediately ask to speak to the retention department. Explain your situation and that the annual fee doesn't make sense to pay anymore.

The SCRA caps interest rate charges, including late fees and other transaction fees, at 6 percent. The MLA limits interest rates and fees to 36 percent Military Annual Percentage Rate (MAPR).

Criminal judicial proceedings: While the SCRA protects you from having to appear in civil court, if you are charged with criminal acts, the SCRA does not protect you from those court appearances.

The Military Lending Act1 (MLA), enacted in 2006 and implemented by the Department of Defense (DoD), protects active duty members of the military, their spouses, and their dependents from certain lending practices. restricts loan rollovers, renewals, and refinanc- ings by some types of creditors.

What Types of Obligations do the SCRA and the MLA Protect? The SCRA protects the obligations below if servicemembers incur them PRIOR to active service. This is regardless of whether the obligation is personal or business. The MLA extends consumer credit to servicemembers and their dependents.

Do I get money back from SCRA? ›

Servicemembers Get Money Back

Additionally, the SCRA requires that any request for a lower interest rate be followed by some form of refund. So all the extra money that the servicemember paid as his or her interest rate that grew over the years? It must be given back upon the request for a backdated interest rate.

The SCRA can help service members who come into the military with high-interest debt. It limits interest rates on debt to 6%, including debt held jointly with a military spouse. The interest rate reduction covers the time when a service member first entered active-duty status to the day they are no longer active.

Calling the number on the back of your card or 1-800-253-1720 to submit a request via the phone. Faxing documents establishing your active duty status to 623-444-3000.

Here's my exact recommended order to apply for Amex cards as a military servicemember. This 5 Amex credit card limit does not apply to cards without a preset spending limit, like the Amex Platinum, Amex Gold, or Amex Green cards. You can have up to 10 Amex cards without a preset spending limit.

Yes, military reservists can qualify for Amex Platinum with a credit score over 720. They can also qualify for annual fee waivers through MLA and SCRA if on active orders of 30 days or greater.

Bank of America typically does not waive annual fees on its credit cards except for full-time military servicemembers. In some other cases, Bank of America will waive the annual fee on a credit card just for the first year as part of a promotional offer.

By completing the Servicemember's Civil Relief Act Benefits Request form. The benefits request form, along with any required supporting documentation can be emailed to [email protected] or the form can be mailed to PO Box 544, Trenton, NJ 08625 – 0544. You may also fax the benefits request form to 609-588-7285.