CGRdrJoe
Footballguy
I know we have various threads on military related stuff in here but this is important enough to deserve it's own thread.
I've always heard about the servicemembers civil relief act but I had never actually paid attention to it as I always carried very little to no debt. That said, I was talking to a kid the other day who was telling me that he got money reimbursed from years ago from American Express and so I decided to look in to it. I opened an account with them back in 2000 and bought a decent amount of stuff to furnish our first house at my first duty station. Paid the card off over the years and cancelled it about 3 years ago. Called American Express on Monday last week and inquired if I might have been eligible for the SCRA since I had joined the military in 1998, they said that I would and that they would look in to it. The max interest rate on credit cards under the SCRA is .06 vice the .14 I was being charged. This morning I got an email from them that it had been looked in to and that I would be getting a check from them for just over $1700.
I just called Citi and started the process with them as well, evidently while on Active duty they offer 0% apr, they are working a case for me on this as well.
needless to say, xmas is now paid for and I get to put the rest in to apple stock
http://abcnews.go.com/Business/top-credit-card-perks-military-members/story?id=20321085
http://www.military.com/benefits/military-legal-matters/scra/servicemembers-civil-relief-act-overview.html
I've always heard about the servicemembers civil relief act but I had never actually paid attention to it as I always carried very little to no debt. That said, I was talking to a kid the other day who was telling me that he got money reimbursed from years ago from American Express and so I decided to look in to it. I opened an account with them back in 2000 and bought a decent amount of stuff to furnish our first house at my first duty station. Paid the card off over the years and cancelled it about 3 years ago. Called American Express on Monday last week and inquired if I might have been eligible for the SCRA since I had joined the military in 1998, they said that I would and that they would look in to it. The max interest rate on credit cards under the SCRA is .06 vice the .14 I was being charged. This morning I got an email from them that it had been looked in to and that I would be getting a check from them for just over $1700.
I just called Citi and started the process with them as well, evidently while on Active duty they offer 0% apr, they are working a case for me on this as well.
needless to say, xmas is now paid for and I get to put the rest in to apple stock
http://abcnews.go.com/Business/top-credit-card-perks-military-members/story?id=20321085
http://www.military.com/benefits/military-legal-matters/scra/servicemembers-civil-relief-act-overview.html
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