Chase Sapphire Reserve Military Lending Act

Any account opened after sep 20 2017 is eligible for the chase military fee waiver.

Chase sapphire reserve military lending act.

If you have a promotional or introductory rate you ll be able to keep. 12 months of complimentary lyft pink membership. Active duty military can now get the most popular chase personal travel rewards card the chase sapphire reserve for free. Your chase sapphire reserve account will receive one complimentary lyft pink membership for 12 consecutive months a minimum value of 199 when the membership is activated with a chase sapphire reserve card by 03 31 2022.

Because of the 36 mapr military annual percentage rate cap including fees for a credit card account chase erred on the side of caution and waived the sapphire reserve s annual fee for military personnel for. Waived 450 annual fee see rates fees with the same stipulations as the amex platinum. If calling internationally you can call collect at 1 318 340 3308. Call chase military services toll free at 1 877 469 0110 about these and other servicing benefits available to you.

In 2006 the military lending act mla was enacted and implemented by the department of defense. Our specialists are available monday friday from 8 am to 11 pm et. Marriott bonvoy brilliant american express card. I recently opened a chase ihg premier card and received my mla fee waiver letter from chase before i even received the card.

Call chase s very helpful military specialist line at 1 800 235 9978. Because of the excellent travel benefits and the fact the the card is free it makes total sense for both you and your spouse to pick up a chase sapphire preferred card and then upgrade to the chase sapphire reserve. This seems to only apply to chase personal not business cards. 20 2017 chase instituted a significant policy change in order to be in compliance with the military lending act mla.

For more information on the chase sapphire reserve read our card review. While the servicemembers civil relief act scra prompted a couple of credit card companies to waive annual fees and cap interest rates under certain conditions for their cards most credit card companies did not provide any special benefits to the members of the military. The military lending act mla was passed not too long ago with chase updating their policy for active duty military personnel in which case if you fall under this category it s to my understanding that you ll have your annual fee waived completely on top of a military annual percentage rate mapr that won t be over 36. With the pay yourself back tool your ultimate rewards points are worth 50 more when you redeem them for statement credits against purchases in our current categories.

Chase military lending act mla chase updated their military policy on september 20 2017. Most of these benefits are due to the servicemembers civil relief act scra. Chase military lending act. We ve talked about credit card benefits for active duty service members in the past.

Grocery stores and dining at restaurants including takeout and eligible delivery services home improvement stores such as home depot and lowe s and select. We accept operator relay calls.