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Frequent Contributor
LTomBerry
Posts: 398
Registered: ‎08-02-2011
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Active duty military & AmEx

Here's a little known perk for all you servicemembers. AmEx will waive your fees while you're on active duty, to include annual fees. This also means a refund of any AFs you've already paid while on active duty. The rep I talked to submitted a claim through the SCRA process and here's the message I got back:

 


 

Dear LTomBerry:


To support the men and women who serve in the United States Armed Forces, we are handling your account referenced above in accordance with the Servicemembers Civil Relief Act.


The Servicemembers Civil Relief Act provides for a maximum annual interest rate of 6% per year on loans you received before starting active military duty.  As of today, your account does not have a balance owed which generates interest charges so there is no eligible balance.  However, we've credited your account for any applicable fees and previously billed interest if applicable, which you'll see reflected on an upcoming billing statement(s).  Additionally, we have waived the following fees on the account for the duration of your active military duty:

 

 

 

 

  • ·

Annual Membership fees

 

  • ·

Overlimit fees

 

  • ·

Late Payment fees

 

  • ·

Returned Payment fees

 

·

Statement Copy Request fees

 

 

 

 

This completes our review of this account, if there are any additional accounts you would like reviewed for Servicemembers Civil Relief Act benefits, please call us at 1-800-253-1720. If you're outside the United States, call us collect at 1-336-393-1111.

We are grateful for the service and devotion you have shown to our country.

 


Sincerely,
American Express Customer Service


This is not something they advertise anywhere, it's something they quietly do to support the troops. I learned about this from my copilot who has a Platinum with the $450 AF waived. I might have to get one...

 

 


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tinuviel
Posts: 4,875
Registered: ‎11-02-2010
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Re: Active duty military & AmEx

Wow!!! That's wonderful! Thanks for sharing the info, and for your service.


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LTomBerry
Posts: 398
Registered: ‎08-02-2011
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Re: Active duty military & AmEx

It's complete! Today they just credited me $150 for the past two AFs on my Blue Cash Preferred.


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creditnocash
Posts: 2,255
Registered: ‎07-23-2012
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Re: Active duty military & AmEx

this is true. 

this is not only with amex but all banks in the u.s. 

 

while on active duty by law you cannot be charged more then 6% on loans. 

all you have to do is provide your orders to the bank. 

 

if you obtain a loan after you recieve your orders it is void. 

 

not exactly sure on the af for other cards though. 

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Frequent Contributor
LTomBerry
Posts: 398
Registered: ‎08-02-2011
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Re: Active duty military & AmEx


creditnocash wrote:

this is true. 

this is not only with amex but all banks in the u.s. 

 

while on active duty by law you cannot be charged more then 6% on loans. 

all you have to do is provide your orders to the bank. 

 

if you obtain a loan after you recieve your orders it is void. 

 

not exactly sure on the af for other cards though. 


You are correct, the Servicemembers Civil Relief Act does require lenders to cap the interest for debts acquired prior to joining. However AmEx is the only bank I know of that waives all the other fees for the duration of active duty.


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Sparkz1920
Posts: 271
Registered: ‎08-09-2009
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Re: Active duty military & AmEx


LTomBerry wrote:

creditnocash wrote:

this is true. 

this is not only with amex but all banks in the u.s. 

 

while on active duty by law you cannot be charged more then 6% on loans. 

all you have to do is provide your orders to the bank. 

 

if you obtain a loan after you recieve your orders it is void. 

 

not exactly sure on the af for other cards though. 


You are correct, the Servicemembers Civil Relief Act does require lenders to cap the interest for debts acquired prior to joining. However AmEx is the only bank I know of that waives all the other fees for the duration of active duty.


 

Wow, that is good to know. I start basic training for the reserves in January


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clarinet20
Posts: 1
Registered: ‎07-27-2013
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Re: Active duty military & AmEx

Just understand (I found this out today the hard way) that once they reimburse you for interest incrued before you joined, the interest rate goes right back to the original rate because they won't continue the 6% or 0% for anything you put on the card after that date.

Super Contributor
CS800
Posts: 6,552
Registered: ‎04-07-2008
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Re: Active duty military & AmEx

That's good to know. They did waive my AF wih the active orders. Got wind of it from the flight director while we were at Eglin.

 

Glat to see AMX doing those.




Valued Contributor
kevinjjc
Posts: 1,374
Registered: ‎01-14-2009
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Re: Active duty military & AmEx

Great info! I wish I knew about this when I was active duty.

Regular Contributor
Volpes
Posts: 158
Registered: ‎03-10-2012
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Re: Active duty military & AmEx

Learn something every day... 

 

AmEx also won't let you charge for lottery tickets or online porn :smileylol:


kevinjjc wrote:

Great info! I wish I knew about this when I was active duty.


me too


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