Deployment isn’t always fun, but there are some up-sides. Many families use the tax-free income and special pays to improve their overall financial standing. Other great benefits include the special deployment perks offered on USAA credit cards.
USAA members who have a USAA MasterCard, Visa, or American Express credit account may have their interest rate lowered to 4% during a deployment, and may have certain fees waived during that time.
The lower interest rate lasts for 12 months and can include purchases, balance transfers, and cash advances.
Apply within 12 months of your deployment to receive these benefits. You’ll have to submit appropriate documentation, such as deployment orders.
Specific campaign medals
If your deployment qualifies you for specific campaign recognition, you are eligible for even more benefits on your USAA Visa, MasterCard or American Express.
If you earn the following awards, you may receive a refund of all the interest incurred during the campaign:
- Global War on Terrorism Expeditionary Medal (GWOTEM)
- Iraq Campaign Medal
- Afghanistan Campaign Medal
- Operation New Dawn Medal
PCS benefits, too
While this article is about deployment, USAA also offers benefits for a Permanent Change of Station (PCS) move. With the submission of your PCS orders, you may have your Visa, MasterCard or American Express interest rate reduced to 4% for 12 months. You must apply within 12 months before or after the PCS move to be eligible for these benefits.
It can be hard to keep up on all the various benefits and advantages available when you’re deployed. Goodness knows my family could have taken advantage of these benefits during my husband’s last deployment, when we were still carrying a balance after a major kitchen remodel.
When you’re deploying, you’ll want to get in touch with your creditors to make sure they have a correct mailing address and they can note your deployment on their records. If you have a USAA MasterCard, Visa, or American Express, be sure to ask how to apply for these deployment (and PCS!) benefits. Saving even more money during deployment can help you build a strong financial foundation.
By Kate Horrell, Military.com
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