My partner is getting out of active duty in a few months but plans to rejoin next year. Has anyone opened any no-annual fee credit cards as a civilian, then upgraded while in AD and gotten the fee waived?
SCRA Protections for Upgrading Cards
byu/avgvancouverperson inMilitaryFinance
Posted by avgvancouverperson
2 Comments
Yup I’ve done it – by the way, don’t cancel or downgrade ur current card even when ur partner gets out. Wait until they actually send a letter saying they will charge annual fee.
There are some datapoints that they didn’t get that letter at all or delayed for years.
SCRA itself doesn’t require waiving annual fees, but many banks will choose to do so for military members.
That said, I opened a CSR card after I had joined and Chase chose to waive the fee still. I can’t imagine they would say no because you upgraded the card (instead of opening a new one). That said, that’s only personal experience with Chase – no idea what other banks will choose to do.