Veterans, Do You Know About SCRA?


Do you know what the SCRA is? It stands for Servicemembers Civil Relief Act and is a law to ease financial burdens during periods of military service. The benefits are huge for active service members. They can range from credit card interest rate reductions, lease termination for PCS, mortgage interest rate caps, and so on.

My favorite one is definitely the 6% interest rate cap! Your credit card company will have SCRA directions on their website and you usually just need a copy of your orders. Lowering your interest rate keeps debt down which helps when getting pre-qualified for a mortgage. The research is worth it so I recommend check it out, especially if you plan to buy a house soon!