- May 2, 2024
- Posted by: legaleseblogger
- Category: Related News
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# Financial Preparation for Military Deployment
Hey everyone, I wanted to share that my wife will soon be leaving for Basic Military Training (BMT). In light of this, I have been diligently researching how to best manage our finances during her absence.
## Maximizing Benefits with AmEx Credit Cards
I recently discovered that some credit card issuers, like American Express (AmEx), offer waivers on annual fees for active duty service members. Excited about this opportunity, we are considering taking full advantage of it. However, I have some concerns about how this may impact our status as cardholders.
## Concerns about Application Approval
My main question for those familiar with AmEx credit cards is whether having annual fees waived could potentially affect future service or credit card applications. I wonder if being viewed as a less profitable customer because of this waiver could result in application denials. Has anyone experienced rejection due to AmEx not wanting to extend additional benefits to a customer who won’t be paying annual fees?
## Our Current Card Portfolio and Future Plans
Currently, we have the AmEx Gold and Hilton Surpass cards, both of which we find valuable despite the annual fees. We are contemplating canceling the Surpass card for simplicity’s sake and adding the AmEx Platinum, Delta Reserve, and Hilton Aspire cards to our collection. With our good credit history, approval should be straightforward. However, I can’t shake off the worry that our multiple fee-waived cards might lead to denials for one or more of the new cards.
Overall, I seek some insights and reassurance from the community regarding these concerns.
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Remember that it normally takes 60 plus days to show up in the system to get the annual fees from Amex waived.
No, that’s not a problem at all. Whether or not you can get approved is based on your financials, not being military.
Only your finances and regular credit factors go into your application decision. They don’t look at whether you’re paying the fee or not.
Same goes for customer service. Both Chase and amex have had top notch customer service.
My wife and I each have our own platinums, sapphire reserves. We’re working on getting our own Hilton aspires. I just got mine, we get one at a time so we can meet the spending threshold for the intro deals.
We also share a blue cash card. When we’re not chasing intro offers we use that to get cash back in December, pays for Xmas.
If you each get your own cards, you double benefits like Uber credit, etc.
No issue at all. Make sure you get the Chase Sapphire Reserve as well, it’s the best!
From my understanding, they chose to waive annual fees, not that they’re required to. They just used the MLA database as an easy method for verification since they may already have to so they make sure any other laws/protections are applied. It’s both a “thank you” and marketing to get you their cards. Because then you may keep after getting out, friends/family see it and want one, etc. My mother actually got an Amex Plat after I took her on a trip and she saw how differently a nicer hotel treated their Amex holders and the discounts I got.
I get the logical concern, but no, AMEX and other major credit issuers do not take your MLA status into consideration when it comes to approving new lines of credit.
Don’t cancel your Surpass, since that’ll be a hit to your credit score. If total credit limit becomes an issue when applying for additional cards, you can always work with Amex during reconsideration to reduce the credit line on that card. I’d consider Chase UR-earning cards like the Sapphire Reserve before getting into branded AMEX cards; lots of good resources like Military Money Manual to walk you through your options. Best of luck to your wife (and make sure you wait for MLA status to be updated before applying for new cards to ensure your fees will actually be waived)