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Rental car insurance coverage up to $75,000.
Reward points transfer programs via partner companies.Complimentary Priority Pass Select lounge memberships.Chase customers with the best credit card offers have in the past been offered the following perks-these would be available to any financially qualified military member who also qualifies for the fee waiver or other perks:
Why Apply For A Chase Sapphire Reserve Credit Card With Your Military Credit Card Benefit?Īpplying for a high-end Chase credit card with a waiver of the annual fee means getting access the same perks others are paying $550 per year (or a different fee depending on the card) to enjoy. If you need to claim SCRA protections as an existing or new customer, it is always best to contact customer service at the lender to have your account data updated.
CHASE FREEDOM FOREIGN TRANSACTION FEE UPDATE
Several sources report that Chase uses a semi-automated or fully automated system to compare credit card account details against a database that could help service members more “automatically” update to receive SCRA benefits, but it’s best not to leave this important benefit to the software process. Chase Procedures For Updating Your Records To Claim SCRA Benefits, Credit Card Fee Waivers, Etc. You can apply electronically or by regular mail, but electronic submissions must be sent via your account at and you are advised not to submit reproductions of orders and other documents taken with mobile devices as they cannot be read properly by Chase.Ĭhase customers who wish to terminate a leased vehicle as is permitted under SCRA (prior to the end of the lease), the documentation submitted to Chase “must state that you are requesting an early lease termination” including account numbers and the date of termination requested. You must submit supporting documentation to Chase to claim your SCRA benefits as an existing or new customer. Telling Chase You Want SCRA Military Credit Card Benefits
Early cancellation of vehicle leases where required. Protection from certain foreclosure activity. Reduction of Interest Rates above the SCRA limits. The Chase official site reminds service members that protections under SCRA include: But that isn’t the sum total benefits you may receive from Chase for registering as an active duty military member and claiming your SCRA benefits with them. That is why Chase waives the whopping $550 annual fee for its Sapphire Reserve Card for active duty military members. Some credit card companies, including Chase, have chosen to liberally interpret SCRA laws and offer annual fee exemptions on their cards including the most elite credit cards offered to financially qualified military members. For example, SCRA rules state there is a mandatory 6% interest rate cap on loans and credit you had prior to starting military service-but this cap is not automatic and must be applied for in writing with supporting documentation such as military orders, etc. The federal law known as the Servicemembers Civil Relief Act (SCRA) was created to help service members avoid credit-related fees. The Chase official site has a page dedicated to helping those who want to claim their SCRA benefits on credit cards issued by Chase. Related: Read the Guide to Chase Ultimate Rewards Points Military Credit Card Fee Waivers And Other Perks From Chase If you search for and do not find a credit card offer such as the Chase Platinum Reserve card, or one of the Chase Elite Travel Reward card programs, call Chase customer service to inquire about the availability of the card you seek or one like it that offers perks to active duty military members. The credit card offers you see here may or may not be available long-term, but the federal law that protects service members from certain credit card practices applies no matter what kind of credit card you use. What follows is a discussion about Chase credit card policies and federal law that may affect those policies. Chase offers a military credit card benefit program for active duty military members on a variety of credit card lines, and the more aspirational the credit program-such as the Chase Sapphire Reserve credit card-the bigger the savings for eligible military members.