With Veterans Day coming up on Tuesday, CardHub, credit card comparison website, decided to examine more than 1,000 credit card offers to determine which provide the best deals for the military community.
It also polled the nation’s largest financial institutions to see what other types of programs and promotions are available to military families.
The best military credit cards CardHub found are:
- Best everyday rewards: PenFed Platinum Rewards Visa Signature Credit Card – 5 points per $1 on gas at any station, 3 points per $1 on groceries, and no annual fee.
- Best everyday rewards: PenFed Defender American Express Credit Card – 1.5 percent cash back across all purchases and no annual fee.
- Best everyday rewards: Navy Federal Credit Union Flagship Rewards Credit Card – 2 points per $1 spent on all purchases – the equivalent of 2 percent cash back when you redeem for travel expenses – and a $49 annual fee.
- Best airline rewards: PenFed Premium Travel Rewards American Express Credit Card – $200 initial bonus, 5 points per $1 spent on airfare, and no annual fee.
- Best for low rates: PenFed Defender American Express Credit Card – 6.99 percent introductory APR on purchases for the first 60 months, 4.99 percent introductory APR on balance transfers for 12 months, 9.99 percent regular APR, and no annual fee or balance transfer fee.
- Best for credit building: Navy Federal Credit Union nRewards Secured Credit Card – No annual fee and 1 point per $1 spent across all purchases.
For more information about the cards and an issuer-by-issuer breakdown of special military banking programs, visit: http://www.cardhub.com/best-military-credit-cards/.
Be sure to compare the annual percentage rate for these or any other credit card offer before you switch or sign up. Rewards and other perks won’t offset the cost of a high APR. Check with local credit unions. They often have rates below the card above that is listed as the "best for lowest rate" at 9.9 percent.