Best Credit Cards for Veterans and Military Retirees 2024

Unfortunately, the nearly unbelievable SCRA and MLA benefits American Express, Chase, and other credit card companies extend to active duty servicemembers does not apply to military veterans and retirees.

Military vets and retirees must pay annual fees on Amex and Chase cards just like civilians. Sometimes the fee waivers continue when you leave active duty, so make sure you open all the cards you can before leaving active duty.

There are still excellent travel reward and cash back credit cards available to veterans and retirees. You want to look for a credit card that offers a large welcome bonus, great recurring benefits, and great rewards for spending in travel categories.

If you have a business, whether freelancing, rental properties, AirBnB, Uber, etc check out my best cards for veteran owned small business. If you are looking for cash back cards, check out my best cash back cards for military servicemembers.

My Top Recommended Card

Chase Sapphire Preferred^® Card
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• Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.
• 5x points on travel purchased through Chase Travel℠
• 3x points on dining (includes takeout, delivery, and dine-in), select streaming services and online groceries
• 2x on all other travel purchases
• 1x on all other purchases
• $50 Annual Chase Travel Hotel Credit
• Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Travel℠ . Example- 60,000 points would be worth $750 toward travel.
• No foreign transaction fees, great for overseas OCONUS assignments, TDY, and PCS
• Primary rental car insurance coverage & trip cancellation/interruption insurance, and more.
• DashPass access is complimentary which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2027.
• Upgrade to a Chase Sapphire Reserve after 1 year (compare Reserve vs Preferred)
• $95 annual fee waived for military and spouses with Chase Military Lending Act
• Member FDIC

The Chase Sapphire Preferred card is the little brother to the Chase Sapphire Reserve^® Card and comes with amazing Sapphire benefits.

For example, 60,000 Chase Ultimate Rewards points could be cashed in for $600.

A better use of the points is booking travel in the Chase travel portal for 1.25 cents per point when booked through Chase Sapphire Preferred Travel Portal. That makes 60,000 points worth $750

But the best use of Chase Ultimate Rewards points is transferring them 1:1 to partner airlines and hotel brands for potentially $2000-$3000+ of travel value (assuming 2-3 cents per point).

I recently received 11 cents per credit card point when transferring to All Nippon Airways (ANA) and booking 2 first class tickets from Honolulu, Hawaii to Tokyo, Japan. The big point redemption are out there!

Other cards you should check out are listed on my Best Military Credit Card Bonuses of the Month page. I keep this page updated monthly with the best cards offering the highest bonuses.

Best cards for Military Veterans and Retirees:

• Chase Sapphire Preferred
• The Platinum Card® from American Express
• American Express^® Gold Card
• Chase Freedom Unlimited or Chase Freedom Flex

American Express Platinum Card for Veterans and Military Retirees

American Express Platinum Card

The SCRA law that allows active duty military servicemembers to get their annual fees waived on all American Express cards does not extend the same protections to military veterans and retirees. It's not my policy, that's just the way the law is written.

Therefore, military vets need to pay the annual fees on the Platinum Card from American Express. While this might seem high, this card can actually deliver over $1500 of value in the first year alone, easily covering the annual fee.

The Platinum Card^® from American Express
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• $695 annual fee. See more details about military protections for you and your spouse 
• Earn 80,000 Membership Rewards® Points after you spend $8,000 on eligible purchases on your new Card in your first 6 months of Card Membership
• Earn 5x points on airfare booked directly with airline or on amextravel.com up to $500,000 per calendar year
• Earn 5x points on prepaid hotels at amextravel.com
• $200 Annual Hotel Credit: Get $200 back in statement credits each year on prepaid Fine Hotels + Resorts^® or The Hotel Collection bookings through American Express Travel using your Platinum Card^®. Note that The Hotel Collection requires a minimum two-night stay
• $240 Digital Entertainment Credit: Get up to $20 back in statement credits each month when you pay for eligible purchases with the Platinum Card^® at your choice of one or more of the following providers: Disney+, a Disney Bundle, ESPN+, Hulu, Peacock, The New York Times, and The Wall Street Journal. Enrollment required.
• $200 Uber Cash: Explore your local area with $15 in Uber Cash for US rides each month, plus a bonus $20 in December. That can be up to $200 in annual Uber savings! Download the Uber app and add your Platinum Card® to your Uber account to get started. Available to Basic Card Member only. Effective 11/8/2024, an Amex Card must be selected as the payment method for your Uber or Uber Eats transaction to redeem the Amex Uber Cash benefit.
• $200 Airline Fee Credit: Up to $200 in statement credits per calendar year in baggage fees and more at 1 qualifying airline
• $199 CLEAR® Plus Credit: CLEAR® Plus helps to get you to your gate faster at 50+ airports nationwide and get up to $199 back per calendar year on your Membership (subject to auto-renewal) when you use your Card. CLEARLanes are available at 100+ airports, stadiums, and entertainment venues.
• This is a MAJOR time saver–$120 statement credit every 4 years for a Global Entry application fee or a statement credit up to $85 every 4.5 years for a TSA PreCheck® (through a TSA PreCheck® official enrollment provider) application fee, when charged to your Platinum Card®! Card Members approved for Global Entry will also receive access to TSA PreCheck at no additional cost.
• Complimentary access to the American Express Global Lounge Collection® lets you visit more than 1,400 airport lounges across 140 countries and counting. You can love the lounge life with more airport lounge options than any other credit card issuer on the market. As of 03/2023.
• $155 Walmart+ Credit: Cover the cost of a $12.95 monthly Walmart+ membership with a statement credit after you pay for Walmart+ each month with your Platinum Card. Cost includes $12.95 plus applicable local sales tax.
• Up to $100 annual Saks Fifth Avenue credit, enrollment required
• Know if you're approved for a Card with no impact to your credit score. If you're approved and choose to accept this Card, your credit score may be impacted.
• No foreign transaction fees
• Enrollment is required for select benefits
• The Platinum Card^® from American Express – learn how to apply
• Read my full review of the Amex Platinum card for military, terms apply

Amex Gold Card for Veterans

American Express^® Gold Card
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• Earn 60,000 Membership Rewards® points after you spend $6,000 on eligible purchases on your new Card in your first 6 months of Card Membership.
• Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
• 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year- includes OCONUS Commissaries
• 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com.
• 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com.
• 1X Membership Rewards® point per dollar spent on all other eligible purchases.
• No foreign transaction fees – great for the 4x on restaurants when traveling for fun, OCONUS TDY, or PCS!
• $120 Uber Cash on Gold: Add your Gold Card to your Uber account and each month automatically get $10 in Uber Cash for Uber Eats orders or Uber rides in the U.S., totaling up to $120 per year. Effective 11/8/2024, an Amex Card must be selected as the payment method for your Uber or Uber Eats transaction to redeem the Amex Uber Cash benefit.
• $84 Dunkin' Credit: You can earn up to $7 in monthly statement credits after you enroll and pay with the American Express® Gold Card at U.S. Dunkin' locations. Enrollment required.
• $100 Resy Credit: Get up to $100 in statement credits each calendar year after you pay with the American Express® Gold Card to dine at U.S. Resy restaurants or make other eligible Resy purchases. Enrollment required.
• Go explore over 1,000 upscale hotels worldwide with The Hotel Collection and receive a $100 credit towards eligible charges with every booking of two nights or more through AmexTravel.com. Eligible charges vary by property.
• Read my full review of the Amex Gold card for military, terms apply
• Enrollment is required for select benefits
• $325 Annual Fee* See more details about American Express protections for you and your spouse 

Amex Hilton Honors Aspire Card

• American Express Hilton Honors Aspire card
• Complimentary Diamond Status at all Hilton brands (suite upgrades, breakfast, check in gifts, etc)
• 150,000 Hilton Honors Bonus Points welcome offer after $4000 of purchases in the first 3 months
• 1 weekend night reward after opening your account and every year on renewal
• $250 Hilton Resort Credit
• $250 airline fee credit (similar to the AMEX Platinum, also free for military)
• 14x Hilton Honors Bonus Points at Hilton properties
• No foreign transaction fees
• $450 annual fee
• Full review of AMEX Aspire card

The American Express Hilton Honors Aspire card offers a tremendous amount of value for the travelling military veterans for retiree. With this card you get automatic Hilton Honors Diamond Status. That means free breakfast!

You get automatically upgraded (subject to availability) at all Hilton brands including Waldorf Astoria, Conrad, Canopy, Curio, Doubletree, Embassy Suites, Tapestry Collection, Hilton Garden Inn, Hampton, Tru, Homewood Suites, or Home2 Suites.

The recurring annual benefits with this card are also stunning. $250 airline fee credit which can offset purchases made with the US airline of your choice.

You also get a annual free night award, good at any Hilton property. This can be worth over $1000+ depending on the hotel or resort you cash it in at.

I have had the Aspire card since 2018 and love it! I have stayed at multiple Hilton properties in Bucharest, Munich, Dubai, Melbourne, Brisbane, New York, Oklahoma City, London, Edinburgh all on points! No taxes, no fees, no room charges: totally free. And usually I'm upgraded to a suite because of the complimentary Diamond status.

Chase Freedom Flex℠

Chase Freedom Flex^℠ Credit Card
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• Earn $200 cash back (20,000 Ultimate Reward points) when you spend $500 in 3 months
• 5% cash back on travel purchased through the Chase Travel℠ portal
• 3% on dining at restaurants, takeout, and delivery
• 3% back on drugstore purchases
• 1% back on all other purchases
• 5% on up to $1,500 of purchases in specific bonus categories each quarter
• No annual fee
• Compare the Chase Freedom Flex vs. Chase Freedom Unlimited

The Chase Freedom Flex card offers 5% back on rotating categories and no annual fee. It also has great points earning on travel purchased through the Chase Ultimate Rewards portal, 3% on dining and drugstores, and 1% on everything else.

You can transfer Chase points to your Chase Sapphire Preferred and use them for travel. Chase points used through the Chase Sapphire Preferred Travel portal at travel.chase.com are worth 1.25 cents each. 10,000 points = $125 then.

I have had this card since I joined the military. I keep it open to age my credit history with no annual fee.

Gasoline is usually one of the categories for half the year, making this a great card to use to fill the car up. I usually put whatever the 5% category is on the Freedom Flex, then travel and dining on my Sapphire Reserve, and then everything else on my Chase Freedom Unlimited.

Chase Freedom Unlimited^®

Chase Freedom Unlimited^® Credit Card
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• INTRO OFFER: Earn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year) — worth up to $300 cash back. That's 6.5% on travel purchased through Chase Travel℠, 4.5% on dining and drugstores, and 3% on all other purchases.
• Enjoy 6.5% cash back on travel purchased through Chase Travel℠, the premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 4.5% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 3% on all other purchases (on up to $20,000 spent in the first year).
• After your first year or $20,000 spent, enjoy 5% cash back on Chase travel purchased through Chase Travel℠, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1.5% cash back on all other purchases.
• No minimum to redeem for cash back. You can choose to receive a statement credit or direct deposit into most U.S. checking and savings accounts. Cash Back rewards do not expire as long as your account is open
• No annual fee
• Compare the Chase Freedom Unlimited vs Chase Freedom Flex
• Member FDIC

The Chase Freedom Unlimited is one of the backup cards I always carry in my wallet.

The card offers no annual fee. You can compare the Chase Freedom Flex vs Chase Freedom Unlimited in this article.

This is my default card when I’m back in the States. If you can get 5% back on easy categories like gas or groceries with the Chase Freedom Flex card above do that. Otherwise use this card to get 1.5% cash back on every purchase.

Let me know in the comments what your favorite card is for military veterans and retirees!