Under the Military Lending Act, active duty, Guard and Reserve on 30+ day orders, and military spouses are all eligible for annual fee waivers on the best credit cards. Learn how to get your annual fees waived and the right order to apply for cards in the Ultimate Military Credit Cards ...
For active-duty military servicemembers, Capital One waives the annual fee under the Servicemembers Civil Relief Act (SCRA), but not under the Military Lending Act (MLA), making it an excellent option for those who opened the card before entering service. Learn more about these benefits in ou...
service members are entitled to benefits that their civilian counterparts aren't eligible for. These include protection under the Servicemembers' Civil Relief Act (SCRA) and the Military Lending Act (MLA), which both limit the financial strain for a person on active duty. One feature of these...
If my loan is denied, can I get a smaller amount? The website will not let me re-apply. Why? What if I have bad credit, can I apply? What if I am stationed overseas, how can I get my money? What is the Message Center and why do I need to use it?
Capital One waives annual fees on credit cards under the Servicemembers Civil Relief Act (SCRA) only, not under the Military Lending Act (MLA). Specifically: Capital One waives annual fees for credit cards acquired prior to active duty service for eligible military members under the SCRA. ...
While the SCRA applies to loans taken out before active duty, the Military Lending Act protects service members with loans opened during active duty. The MLA prohibits issuers from charging a military annual percentage rate of interest above 36%. Issuers must factor in credit card fees such as ...
Predatory Lending Practices Targeting the U.S. MilitaryWriter, Michael A