Transition

SCRA for Credit Cards

How to get your rate capped

Requirements: (1) debt incurred before active duty, (2) written request to creditor, (3) copy of orders included. Rate drops to 6% retroactive to active duty start. Excess interest must be forgiven, not deferred.

Cards opened after joining are NOT protected. USAA and Navy Federal often voluntarily cap at 4% instead of 6%. Most major banks have dedicated military benefits departments.

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Run the numbers
SCRA Rate Cap