What Are the Best Credit Cards for Military Members?
Alex RodriguezAs a military member, finding the best credit cards can be a challenge. With so many options available, it can be difficult to know where to start. In this article, we'll explore some of thebest credit cards for military membersand why they may be a good choice.
Benefits of Credit Cards for Military Members
Before we dive into the best credit cards for military members, it's important to understand why credit cards can be a valuable tool. For one, credit cards can help build credit history, which is essential for securing loans and mortgages in the future. Additionally, many credit cards offer rewards programs, which can provide cash back, points, or miles for purchases made with the card. Finally, credit cards can offer valuable perks such as travel insurance, purchase protection, and extended warranties.
Best Credit Cards for Military Members
1. USAA Cashback Rewards Plus American Express Card
The USAA Cashback Rewards Plus American Express Card is a great option for military members. It offers 5% cash back on gas and military base purchases, 2% cash back on groceries, and 1% cash back on all other purchases. Additionally, there are no foreign transaction fees, no annual fee, and a 0% introductory APR for the first 12 months.
2. Chase Sapphire Preferred Card
The Chase Sapphire Preferred Card is another great option for military members. It offers 2 points per dollar spent on travel and dining, and 1 point per dollar on all other purchases. Points can be redeemed for travel, cash back, or gift cards. There is an annual fee of $95, but it is waived for the first year. Additionally, there are no foreign transaction fees.
3. Capital One Venture Rewards Credit Card
The Capital One Venture Rewards Credit Card is a versatile option for military members. It offers 2 miles per dollar on all purchases, and miles can be redeemed for travel, gift cards, or cash. There is an annual fee of $95, but it is waived for the first year. Additionally, there are no foreign transaction fees.
Investing Strategies for Military Members
While credit cards can be a valuable tool for military members, it's important to also consider investing strategies. One option is to contribute to the Thrift Savings Plan (TSP), which is a retirement savings plan for federal employees, including military members. Another option is to invest in a low-cost index fund, which can provide exposure to a wide range of stocks and minimize risk.
Conclusion
Choosing the right credit card as a military member can be a challenge, but there are many great options available. The USAA Cashback Rewards Plus American Express Card, Chase Sapphire Preferred Card, and Capital One Venture Rewards Credit Card are all worth considering. Additionally, investing in the TSP or a low-cost index fund can be a smart strategy for long-term financial success.
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