Best Credit Cards for Military Members

Military members travel frequently, and credit cards come in handy when you don’t have access to an ATM or if you prefer to make one monthly payment to cover all your purchases over the course of a month – as long as you pay the balance in full, of course! I recommend everyone have access to a credit card, especially those who are living overseas or far from home. You don’t have to use your credit card, but it can come in handy and act as an emergency source of funds which can be used to pay for emergency travel, house repairs, car repairs, or other unexpected expenses. That said, credit cards should not be abused and should only be used if you can afford to pay the balance in full or in the event of a true emergency.

There are many great credit cards out there, so we will try to break them down into different categories to help you choose which credit cards is right for you. Since we only promote responsible credit card use, which includes paying the balance in full, the biggest category will be cash rewards credit cards, which will help put money back in your pocket.

Factors considered in this list: When creating this list we considered several factors, including the overall value of the card, including the company offering the card, cash back credit cards, points or rewards, other perks, annual fees, interest rates, and other factors.

Top Cash Back Credit Cards

PenFed VISA Platinum Gas / Cash Rewards Card. Pentagon Federal Credit Union is a financial institution for military members, government employees, and employees of the American Red Cross. That said, anyone can become a PenFed member if they do not belong to one of these organizations; simply make a one time $20 donation and you’re in.This card offers one of the most generous rewards programs around, giving cardholders 5% cash back on gas purchases at the pump and 1% cash back on all other purchases. Cash rewards are credited to your account each month. There is no annual fee associated with this credit card. Apply for the PenFed VISA Platinum Gas / Cash Rewards Card.

Chase Freedom® Visa – $100 Bonus Cash Back. The Chase Freedom Visa $100 Bonus Cash Back card is one of the best general cash rewards credit cards out there. To start with, you can earn a $100 Bonus Cash Back after you make $500 in purchases in your first 3 months. This card offers 5% cash back on rotating categories throughout the year (like grocery stores, restaurants and even airlines) and 1% cash back on everything else. Your cash back rewards never expire and there is no annual fee with this card. Read more about the Chase Freedom® Visa – $100 Bonus Cash Back.

Citi® Dividend Platinum Select® Visa® Card. The Citi® Dividend Platinum Select® Visa® Card gives cardholders 1% cash back on eligible purchases, with the opportunity to earn 5% cash back on rotating categories throughout the year. Cardholders will also receive an excellent 0% intro APR on balance transfers for 12 months (3% BT fee, minimum $5) and the Citi® Dividend Platinum Select® Visa® Card carries no annual fee. For a limited time, this card offers $100 cash back after making $500 in purchases within the first 3 months of account opening. Apply for the Citi® Dividend Platinum Select® Visa® Card.

Blue Cash® from American Express. The Blue Cash EverydaySM Card from American Express is a solid rewards credit card and would rank higher if American Express were accepted more places overseas. This card offers a simple, but generous, cash back plan: Get 3% cash back at supermarkets, 2% cash back at gas stations and department stores, and 1% cash back on all other purchases. There are no rotating rewards categories to worry about, no minimum spending requirements, no enrollment fees, and no annual fees. For a limited time you can also earn a $100 cash bonus when you spend $1,000 within the first 3 months you own the card. You an also earn $25 for referring friends and family members.  Apply for the Blue Cash EverydaySM Card from American Express.

Discover® More® Card. Discover’s flagship cash rewards card offers great consumer benefits, with a 5% Cashback Bonus® in categories that change like gas, restaurants, department stores and more. Limitations apply* Card members can also earn up to 1% unlimited Cashback Bonus on all other purchases. There is no Annual Fee for this credit card. Apply for the Discover® More® Card.

Fidelity Investment Rewards Signature Visa Card. The Fidelity Investment Rewards Signature Visa Card is a unique rewards credit card. You will receive a cash reward of 1.5% of your purchases, which will be deposited into your Fidelity investment account. You will receive 2% cash back if you spend $15,000 or more per year. If you don’t have a Fidelity account, you can choose to receive your rewards in WorldPoints, which can be used to redeem as gifts from the WorldPoints rewards catalog. Personally, I’m a fan of the cash! Apply for the Fidelity Investment Rewards Signature Visa Card.

Best Credit Cards for Frequent Travelers

The Starwood Preferred Guest(R) Credit Card from American Express won the Smarter Travel Editor’s Choice Award for Best Travel Awards Card for Domestic Use. This card gives cardholders an opportunity to earn up to 25,000 Starpoints(R), or enough for up to 6 free nights at a category 1 or 2 hotel. You get 10k points after your first purchase, and can earn 15k bonus points when you spend $5,000 within 6 months, and your Starpoints(R) are redeemable for free nights stay at over 1,000 hotels and resorts in almost 100 countries, or you can receive a free flight on over 350 airlines, all with no blackout dates. There is no annual fee for the first year, then it is $65 per year. Starwood Preferred Guest(R) Credit Card from American Express.

Citi ThankYou(SM) Premier Card. The Citi ThankYou (SM) Premier card is a top rewards credit card which currently offers a $300 gift card after $2,000 in purchases within 3 months of account opening (must redeem 30,000 bonus ThankYou® Points for meeting spending limits to receive gift card). This card is great for military members serving overseas as there are no foreign transaction fees on purchases*. This card also offers 1 ThankYou point for every dollar you spend on purchases and you can earn points for the miles you fly when you purchase a ticket with your Citi ThankYou Premier Card. Do you travel frequently? The Citi ThankYou(SM) Premier card offers an annual complimentary domestic companion ticket and a 15% discount on all air travel when booked through Citi’s travel benefits provider, Spirit Incentives. There is no cap on the number of points you can earn and your points never expire. There is a $125 annual fee for this card, which is waived the first year. The $300 gift card, free domestic companion ticket, and no foreign transaction fees make this a great credit card for service members who travel frequently. Apply for the Citi ThankYou(SM) Premier Card.

Other Great Military Credit Cards

USAA Credit Cards. You need to be a USAA member to apply for a USAA credit card. Thankfully, becoming a USAA member is easier than ever before, as USAA now offers banking services to anyone who wishes to apply (they still limit insurance availability to those with a military affiliation and their family members). USAA offers 4 credit cards, including the USAA World MasterCard, Active Military MasterCard, USAA American Express, and Military Affiliate Cards. USAA also offers co-branded affinity cards featuring military affiliations. The image in this article is the USAA Wounded Warrior Credit Card. Each of these cards offer some combination of low interest rates, flexible rewards programs, no annual fees, and USAA’s award winning customer service. For more information, or to apply for a USAA credit card, log in to your USAA account.

Military Star® Rewards MasterCard. The Military Star Rewards MasterCard is offered by Chase and is a huge improvement over the previous version of the Military Star Card, which was only available for use on base. I opened a Military Star Card shortly after I enlisted and used it to help build my credit score. This card has unique offers  for active duty, reserve, guards, retired-service members and their family’s credit needs. Benefits include a competitive interest rate, no annual, late or overage fees, online and Call Center account management, and an exclusive deployment policy in which you will receive 100% refund of your interest and fees during a deployment with Blue Star Benefits*. It also offers a rewards program: 2 points for every eligible $1 spent ON base including the Exchange and AAFES.com, 1 point for every eligible $1 spent OFF base, and up to $600 Cash Back or 60,000 points annually. Apply for the Military Star® Rewards MasterCard.

Best Cash Back Debit Card

PerkStreet Financial^SM Debit MasterCard®. Many banks are in the process of slashing debit card rewards programs, but PerkStreet Financial actually pays rewards that are on par with many of the top rewards credit cards – which is certainly rare! The PerkStreet Financial Debit MasterCard offers cardholders 2% cash back on all purchases as long as they maintain a minimum balance of $5,000 in their checking account. Card holders can earn up to 5% cash back on purchases in rotating categories throughout the year. The PerkStreet Financial checking account is free to open and does not have monthly fees when you use your account. The PerkStreet Financial checking account offers free online banking and bill pay and is FDIC insured up to $250,000. You will have access to over 37,000 ATMs nationwide, and there is no minimum balance requirement or cap on the amount of rewards you can earn. Apply for the PerkStreet Financial^SM Debit MasterCard®

Best Credit Cards for People with Bad Credit

If you don’t have a good credit score, then you can still get a credit card to help you improve your credit score by making on time payments and paying your balance in full. The best way to do this is to use a secured credit card, which requires you keep a certain amount of money on deposit with the credit card holder to act as collateral on your charges. The good news is making continual on time payments will help improve your credit score and you can eventually use this to get a traditional credit card. Here are some secured credit cards which may be beneficial to you:

Orchard Bank Visa Cards. The Orchard Bank VISA is a secured credit card that reports to the three major credit bureaus each month, which will help build or improve your credit score as long as you use it responsibly. This card is accepted everywhere VISA cards are accepted and you will have 24/7 access to your account. Because this is designed as a tool for people who do not have excellent credit, there is an annual fee of $39 or $59 the first year, or $0 – $49 Introductory the first year, then either $35 or $59 per year thereafter. Apply for the Orchard Bank Visa Cards.

Don’t forget to check with your local credit union. There are many military and local credit unions which may offer a great credit card for your needs. We recommend any of the cards above, but as always, do your research and find the best card for your specific situation.

“Disclaimer: This content is not provided or commissioned by American Express. Opinions expressed here are author’s alone, not those of American Express, and have not been reviewed, approved or otherwise endorsed by American Express. This site may be compensated through American Express Affiliate Program.”