What law is it that makes credit card companies set a low fixed rate for your card when you are deployed?
2007-09-09 05:50:14 · 4 answers · asked by Anonymous in Politics & Government ➔ Military
Soldiers and sailors relief act
You must have debt PRIOR to active duty , some credit card companies will work with you though. Discover will lower apr anyway and Military Star card will lower to 5.9 % and have no payments due while you are gone. Other companies are sticklers for the debt being before active duty though.
2007-09-09 06:10:41 · answer #1 · answered by ladyusmc 2 · 0⤊ 0⤋
ServiceMenbers Civil Relief Act
But you have to have the Debt BEFORE you went into Active Duty... if so it will be lowered to 6% APR or less
The 'Servicemembers Civil Relief Act' replaced the 'Soldiers and sailors relief act'
2007-09-09 12:54:06 · answer #2 · answered by sojuassassin 2 · 0⤊ 0⤋
The debt must have occured prior to enlisting in the armed services.
I wouldn't consider $250.00 a month extra a 'freebie' for being in a war zone.
2007-09-09 14:21:05 · answer #3 · answered by Amanda J 1 · 0⤊ 0⤋
Perhaps not a law but a "privilege" for serving personnel. Soldiers in war zones also get well-deserved freebies
2007-09-09 13:49:42 · answer #4 · answered by robert43041 7 · 0⤊ 0⤋