![]() ![]() How to notify creditors of your SCRA qualifications Keep in mind: Veterans also do not qualify for SCRA benefits, unfortunately. The SCRA recognizes dependents and spouses as family, so SCRA protections won’t apply to relatives not listed as your dependents. While many of the protections in the SCRA extend to families, it doesn’t necessarily mean everyone in your family will be covered. You may be able to extend your SCRA benefits to qualifying family members, as well. Commissioned officers of the National Oceanic and Atmospheric Administration (NOAA) or the Public Health Service who are serving on active duty may also be eligible. To qualify for SCRA benefits, military members must be on active duty, a reservist on federal active duty or a member of the National Guard on federal orders that extend longer than 30 days. SCRA benefits and protections are available to members of all branches of the military, including the: The benefits and protections the SCRA offers include reduced interest rates on pre-service debts, protections against default judgments and protections against eviction, all with the goal of helping active-duty military members dedicate their attention to their duties without undue financial stress. This federal law is designed to provide financial and legal protections to active-duty military members. While on duty, members of the military are protected by the Servicemembers Civil Relief Act - commonly called the SCRA. What is the Servicemembers Civil Relief Act? In this guide, we cover the Servicemembers Civil Relief Act, as well as the best credit card benefits for active-duty military members to keep in mind as you shop for your next cards. If you’re thinking about signing up for a new credit card, first understand your rights under this act and the benefits you can receive from your card issuer. This 2003 law is designed to make it easier for our servicemembers to focus on their service rather than financial stressors like debt and high interest rates. Military, you’ve got a surprisingly robust range of credit card perks and protections that you can take advantage of - and that’s all thanks to the Servicemembers Civil Relief Act. Those that qualify can get premium credit cards without the annual fees that make them so expensive to carry, plus reduced interest rates that can make credit card payments more affordable.Īs an active-duty member of the U.S. This federal law sets guidelines for how debt incurred before a soldier goes on active duty must be handled, including rules for reducing interest rates and fees. ![]() Key takeawaysĪctive-duty military members and their families are eligible for a variety of credit card perks and benefits due in part to the Servicemembers Civil Relief Act. The article was reviewed, fact-checked and edited by our editorial staff. Portions of this article were drafted using an in-house natural language generation platform. ![]()
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