Wednesday, November 13, 2013

Chase Bank - Waives all fees for Active Duty Military

Chase is my second favorite bank after USAA. I recently found out that Chase Bank will waive all credit card fees, late fees, and all other fees for Military members on Active Duty. It is very easy to apply and their customer service is excellent from my past experience.
Here's what you need to do:
  1. Call Chase Military Banking at 1-877-469-0110. This is a Military only line and takes calls 24/7. Awesome!
  2. Tell them you are Active Military. They will ask you to send them proof like a copy of your orders. Send them your information via fax or email.
  3. Wait a couple of weeks and they will send you a letter in the mail. (I have posted the letter they sent me in the mail below)
  4. Enjoy FEE FREE service. I have the IHG Priority Club Credit Card and the $49 annual fee was reimbursed immediately once they verified military status. They also have their Military Banking that waives all checking and savings account fees.
Many other Banks do this also. Read our post about American Express waiving credit card fees

Here is a letter that I recently received from them:
We're dedicated to supporting our members of the military and are pleased to let you know that your account is eligible for benefits under the Servicemembers Civil Relief Act.
Your credit card account qualifies for SCRA benefits described in this letter, If you have other accounts of banking relationships with us, those account will also be evaluated to see if similar benefits are applicable. you will receive a separate response for other accounts you may have with us
  •  You'll receive  maximum Annual Percentage Rate (APR) of 4% for your entire account balance, including new purchases 
  •  If you have a lower APR on any existing balance such as an introductory or promotional rate, you'll receive the lower rate until it expires 
  •  You account in now exempt from all fees, including foreign transaction frees, late fees, and annual fees 
  •  All fees and interest charges on your account balance will be recalculated form the date provided on your official documentation. You will receive a credit for any necessary adjustments on your upcoming statement. 
Since the documentations used to determine eligibility does not indicate the expected end date of your military service, we have applied these SCRA benefits for 12 months. If your military active duty status or service dates change, please provide us with verifications by sending a copy of one of more of these documents
  • Military Orders 
  •  Certificate of Release or Discharge from Active Duty (DD Form 214) 
  •  Authorized Department of Defense short form 
  •  Letter form your commanding officer
We will automatically continue your benefits if your active duty is extending, provided we can confirm you new active duty dates before your benefits expire
If you have any questions, please call us at 1-877-469-0110. Our Military Customer Service Specialists are here to assist you anytime
Thank you for doing business with Chase. We thank you and your family for your service to our country and hope these benefits provide you with added peace of mind during this time.
Sincerely,
Military Customer Service Specialists 

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4 comments:

  1. Did you open your IHG Priority Club Credit Card before you entered active duty? I've been reading that people have had mixed results with Chase on this.

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    Replies
    1. So I applied for the card while on active duty. However when I applied they set my SCRA benefits as starting the day I applied so thats why I think it qualified for the benefits. I have heard many people have been running into this problem however. Seems crazy that they are only accepting cards into the program that were applied for before active duty. Seems Backwards! They should if anything only accept cards into the program that were applied for while on active duty

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  2. All credit cards qualify for SCRA. Lines of credit only qualify if you purchased before entering active duty. IT mainly helps Reservist or guardsmen. Call USAA and they will explain it to you. Most credit card companies will refund you fees and charges starting back to the day you entered service. I am proof of this as I received refund checks and account credit as well.

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  3. For Chase this only works if you open your credit card with them prior to joining the military... or had a break in service and got back in. It's not for those who got a chase card after already joining active duty. It is very backwards, in my opinion. USAA is different.

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