Last updated on April 26th, 2023
Heroes deserve the very best – and helping our service members (and their families) find the best credit cards is one small way in which we can help. Here are our picks for the best military credit cards:
The Best Military Credit Cards
Here are our top armed forces credit cards:
USAA® Preferred Cash Rewards Visa Signature® Card
USAA® Preferred Cash Rewards Visa Signature® Card
USAA® Preferred Cash Rewards Visa Signature® Card
- 16.65% to 30.65% variable based on creditworthiness and the Prime Rate Regular Purchase APR
- 16.65% to 30.65% variable based on creditworthiness and the Prime Rate Balance Transfer APR
- 16.65% to 30.65% variable based on creditworthiness and the Prime Rate Cash Advance APR
At a Glance
The USAA® Preferred Cash Rewards Visa Signature® Card helps cardholders earn unlimited 1.5% cash back on purchases. They can also enjoy no foreign transaction fees, no annual fee, and no penalty APR.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- Easy, Unlimited 1.5% Cash Back on Purchases
- Get free collision damage waiver coverage to pay for physical damage and theft to most vehicle rentals
- Extend your manufacturer’s or U.S. store-brand warranties
- Manage your account with tools to help you transfer balances, set travel notifications and report your card lost or stole
- Regular Purchase APR: 16.65% to 30.65% variable based on creditworthiness and the Prime Rate
- Intro Balance Transfer APR: 0% Introductory APR through your 02/01/2024 billing cycle
- Balance Transfer APR: 16.65% to 30.65% variable based on creditworthiness and the Prime Rate
- Balance Transfer Transaction Fee: 3% of the amount of each transfer
- Cash Advance APR: 16.65% to 30.65% variable based on creditworthiness and the Prime Rate
- Cash Advance Transaction Fee: 3% of the amount of each cash advance. Fee waived when transferring funds electronically to a USAA deposit account
- Late Payment Penalty Fee: Up to $35
- Return Payment Penalty Fee: Up to $35
- You’re in the U.S. military or are related to someone in the U.S. military
- You want unlimited cash back on all purchases
- You want no annual fee
- You want no foreign transaction fees
The USAA® Preferred Cash Rewards Visa Signature® Card is one of our top picks with some of the lowest APRs on our list, in addition to a lengthy 15-month introductory balance transfer APR. Not much of a surprise since USAA credit cards overall feature some of the lowest interest rates from a major card issuer. Moreover, earn unlimited 1.5% cash back on all purchases and enjoy the typical global benefits users expect from a Visa Signature credit card.
USAA offers a variety of credit cards to those who serve, all of which offer great value. The USAA Preferred Cash Rewards Visa Signature, however, is one of our favorite cards from the issuer.
USAA® Cashback Rewards Plus American Express® Card
USAA® Cashback Rewards Plus American Express® Card
USAA® Cashback Rewards Plus American Express® Card
- 16.65% to 30.65% variable based on creditworthiness and the Prime Rate Regular Purchase APR
- 16.65% to 30.65% variable based on creditworthiness and the Prime Rate Balance Transfer APR
- 16.65% to 30.65% variable based on creditworthiness and the Prime Rate Cash Advance APR
At a Glance
The USAA® Cashback Rewards Plus American Express® Card helps cardholders who spend regularly on gas and groceries earn cash back, and offers special features for military members. They can also enjoy no foreign transaction fees, no annual fee, and no penalty APR.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- No annual fee
- Get free collision damage waiver coverage to pay for physical damage and theft to most vehicle rentals
- Extend your manufacturers warranty at no extra cost
- Earn 5% cash back on your first $3,000 in combined gas station and military base Purchases yearly
- Earn 2% cash back on your first $3,000 in grocery Purchases yearly
- Earn 1% on all your other card purchases
- Regular Purchase APR: 16.65% to 30.65% variable based on creditworthiness and the Prime Rate
- Intro Balance Transfer APR: 0% Introductory APR through your 02/01/2024 billing cycle
- Balance Transfer APR: 16.65% to 30.65% variable based on creditworthiness and the Prime Rate
- Balance Transfer Transaction Fee: 3% of the amount of each transfer
- Cash Advance APR: 16.65% to 30.65% variable based on creditworthiness and the Prime Rate
- Cash Advance Transaction Fee: 3% of the amount of each cash advance. Fee waived when transferring funds electronically to a USAA deposit account
- Late Payment Penalty Fee: Up to $35
- Return Payment Penalty Fee: Up to $35
- You’re in the U.S. military or are related to someone in the U.S. military
- You want cash back on regular purchases such as gas and groceries
- You want no annual fee
- You want no foreign transaction fees
Next up, we have the USAA® Cashback Rewards Plus American Express – another worthy military credit card from USAA. The card has the highest cash back reward offer on our list of best military cards. It comes in with an impressive 5% cash back earned at gas stations and military base purchases, plus 2% back on groceries and a lengthy 15-month intro APR for balance transfers.
USAA caps these cash back rewards to the first $3,000 spent each year in those categories. Still, for a card with no annual fee and the same great interest rates as the Preferred Cash Visa Signature, it’s hard not to include this impressive card on our best military cards list.
PenFed Platinum Rewards VISA Signature® Card
PenFed Platinum Rewards VISA Signature® Card
PenFed Platinum Rewards VISA Signature® Card
- 17.99% variable based on creditworthiness and the Prime Rate Regular Purchase APR
- 17.99% Balance Transfer APR
- 17.99% Cash Advance APR
At a Glance
The PenFed Platinum Rewards VISA Signature® is big on gas and groceries; earn 5x points per dollar spent on purchases made at the pump, 3x points for grocery purchases, and 1x points for all other purchases. Take advantage of a great introductory offer – 0% APR for balance transfers for up to 12 months and a special bonus statement credit as you earn points on everyday purchases towards travel, shopping and gift cards.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- 5X points per dollar spent on gas at the pump and EV charging stations and 3X points on groceries. 1X points on all other purchases
- 15,000 bonus points when you spend $1,500 in first 90 days of card account opening
- 0% intro APR on balance transfers for 12 months after account opening
- No annual fees and no foreign transaction fees
- Regular Purchase APR: 17.99% variable based on creditworthiness and the Prime Rate
- Intro Balance Transfer APR: 0% for 12 months from account opening date
- Balance Transfer APR: 17.99%
- Balance Transfer Transaction Fee: 3% of the transfer amount
- Cash Advance APR: 17.99%
- Penalty APR: 17.99%
- Late Payment Penalty Fee: Up to $28
- Return Payment Penalty Fee: Up to $25
- You spend money on gas and groceries often
- You will spend $1,500 in the first 90 days to earn a 15,000 bonus points
- You want a card with no annual fees and no foreign transaction fees
- You want to transfer a large balance with no interest for 12 months
Moving on to the PenFed Platinum Rewards Card, this military credit card earns the highest points on our list of favorites. Earn 5X points per dollar spent at gas stations, including electric car charging stations, in addition to 3X points per dollar spent on groceries.
Other noteworthy features with the PenFed Visa Rewards Card include a 12-month 0% intro APR period on balance transfers, a highly competitive APR, and no foreign transaction fees or annual fees.
Navy Federal nRewards Secured Credit Card
Navy Federal nRewards Secured Credit Card
Navy Federal nRewards Secured Credit Card
- 18.00% variable based on the Prime Rate Regular Purchase APR
- 18.00% variable based on the Prime Rate Balance Transfer APR
- 20.00% variable based on the Prime Rate Cash Advance APR
At a Glance
The Navy Federal nRewards Secured Credit Card is a secured credit card designed for those looking to repair or build their credit while earning rewards. Cardholders earn one bonus point for every dollar they spend on purchases with the card. Rewards points are applicable to travel, merchandise, cash, or gift cards. The card also features no annual fees, no foreign transaction fees, and an 18% APR on purchases and balance transfers.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- No annual fee
- No foreign transaction fees
- 1x points for every dollar spent
- Regular Purchase APR: 18.00% variable based on the Prime Rate
- Balance Transfer APR: 18.00% variable based on the Prime Rate
- Balance Transfer Transaction Fee: None
- Cash Advance APR: 20.00% variable based on the Prime Rate
- Cash Advance Transaction Fee: None if performed at a Navy Federal branch or ATM. Otherwise, up to $1
- Penalty APR: 18.00%
- Late Payment Penalty Fee: Up to $20
- Return Payment Penalty Fee: Up to $20
- Minimum Deposit Required: $200
- You’re a member of NFCU
- You need to rebuild or establish your credit
- You want to earn rewards for your everyday purchases
- You do’t want to pay an annual fee
- You can make a security deposit of at least $200, which acts as the credit line (credit limit)
The Navy Federal nRewards® Secured Credit Card is one of the best secured credit cards and the only credit builder card on our list. The card features no annual fee, no foreign transaction fees, and a flat rate of 1X nRewards points per dollar on every purchase. And what is a credit-builder card without the opportunity for a credit limit increase? After just three months, you may be eligible for one. Typically, credit limit increases aren’t possible until after six months of credit use, but this is not your typical card, hence why it has made it as one of our top picks.
The nRewards Secured Visa also benefits from broader membership requirements versus other military credit unions, such as Security Service FCU, All In CU, and others. Military personnel (and their families) anywhere in the world can join Navy Federal – as well as veterans and select Department of Defense employees and contractors.
Featured image by BookBabe/ PixaBay
