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CNBC
27-05-2025
- Business
- CNBC
3 popular credit card benefits for active military personnel
If you're an active service member, you're entitled to some financial protections. This is thanks to the Servicemembers Civil Relief Act (SCRA) and the Military Lending Act (MLA), both of which address the consumer debt that military members and their families may carry. These laws provide financial safeguarding like interest rate caps, protections against mortgage foreclosures and from eviction, ability to terminate leases, no loan prepayment penalties and credit card relief. Below, CNBC Select dives deeper into active-duty military members' financial protections when it comes to their credit cards. One of the most valuable benefits is the cap on interest rates for many different types of loans, including credit cards. The interest rate on debt covered by the SCRA is capped at 6%, while the rate on interest and fees under the MLA is capped at 36% in order to protect service members from predatory lending practices. Some issuers openly offer waived fees on credit card accounts for active military personnel, and others may still offer them, you just have to ask. Being able to waive an annual fee of potentially hundreds of dollars, or even avoiding a late payment charge, can add up both in the moment and over time. All the available card benefits stay the same, so you can get premium credit card perks for no annual fees. Often, the perks that the active service member receives will also be available to their spouse. Sometimes this will be due to the letter of the law, other times as a courtesy extended by a financial institution. Many banks will have special phone lines or email addresses for questions military members might have about benefits so reach out and ask. Some issuers offer additional benefits that go above and beyond those required by law. With Capital One, customers eligible for the SCRA will receive an interest rate cap of 4% and no annual fees or other fees on their Capital One credit card accounts. These benefits apply to the spouses/dependents of eligible service members and that coverage extends for one year after the end of their active-duty service. Chase offers SCRA benefits, including waived fees on all Chase credit cards and 4% APR on eligible balances during active duty and one year afterward. Other issuers have indicated that they provide relief that meets or exceeds the requirements. Since each issuer may handle military benefits differently, it's always best to reach out directly with any questions or if you're looking for specific details. If you're eligible for any of these active military benefits, it's worth reaching out to your bank to see how you could save. Taking advantage of the interest rate cap you have on credit card debt can save you a large amount of money, especially if you qualify for the 6% interest rate cap. If you're paying $250 a month on $5,000 in credit card debt with 25% interest, it will still take you over two years and more than $1,500 in interest payments to pay it off. With a 6% interest rate cap, those same $250 monthly payments eliminate your debt in under two years with just under $300 worth of interest payments, saving you over $1,200. Offers in this section are from affiliate partners and selected based on a combination of engagement, product relevance, compensation, and consistent Debt Relief has resolved over $19 billion in outstanding debts since 2002. It offers free credit card debt relief in 2011, Accredited Debt Relief has helped clients resolve over $1 billion in debt. With many credit card issuers waiving fees for active military service members, this can lead to some pretty great value from the higher-tier cards. With Chase waiving their fees on all its cards, you could get the Chase Sapphire Reserve® (see rates and fees) without its typical $550 annual fee, giving you access to a $300 annual travel credit, entry into over 1,300 airport lounges and more. On Chase's site On Chase's site Points are worth 50% more when you redeem them for travel booked through Chase Travel℠. Excellent740–850 20.24% - 28.74% variable $550 Earn 60,000 bonus points See rates and fees. Terms apply. Member FDIC. Read our Chase Sapphire Reserve® review. The Chase Sapphire Reserve® is a standout premium credit card with plenty of luxury perks and statement credits to justify its annual fee. Either $5 or 5% of the amount of each balance transfer, whichever is greater Offers in this section are from affiliate partners and selected based on a combination of engagement, product relevance, compensation, and consistent availability.$0With over 4,700 branches, Chase has the largest branch network in the U.S. plus access to more than 15,000 ATMs. JPMorgan Chase Bank, N.A. Member FDIC Terms apply.$0Bank from anywhere with access to more than 15,000 Chase ATMs, more than 4,700 Chase branches, the Chase Mobile® app and JPMorgan Chase Bank, N.A. Member FDIC Terms apply. One aspect of some of these military benefits that can get overlooked is whether they apply to spouses or dependents, as this can be a nice addition. With Capital One extending its credit card benefits to the spouses and dependents of service members, they could also qualify for a premium travel card like the Capital One Venture X Rewards Credit Card without paying the $395 annual fee. The card offers a $120 statement credit for either Global Entry or TSA PreCheck® and a 10,000-mile bonus on each account anniversary. You can add up to four authorized users to your account no fee and they can each receive their own Priority Pass airport lounge membership (enrollment required). Excellent740–850 19.99% - 29.24% variable APR $395 Earn 75,000 bonus miles Terms apply. Read our Capital One Venture X Rewards Credit Card review. The Capital One Venture X Rewards Credit Card is a premium credit card with a myriad of benefits and a lower annual fee than other high-end cards with similar features.$0 at the Transfer APR, 4% of the amount of each transferred balance that posts to your account at a promotional APR that Capital One may offer to you $0 In addition to the perks required by law, some issuers will also provide additional benefits to active military members such as waived fees or reduced interest periods. Chase and Capital One are two banks that waive certain credit card fees for active military members. Money matters — so make the most of it. Get expert tips, strategies, news and everything else you need to maximize your money, right to your inbox. Sign up here. At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every credit card article is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of credit card products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.
Time of India
26-05-2025
- Business
- Time of India
Centre of excellence: IRIMEE set to train next-gen engrs in mechatronics
Patna: Railway officials and technical experts have welcomed the announcement by Union minister Ashwini Vaishnaw during his recent visit to Jamalpur that the Indian Railway Institute of Mechanical and Electrical Engineering (IRIMEE) will be developed into a centre of excellence. As part of this initiative, the institute will begin admitting students for advanced training in mechatronics from 2026. Established in 1888, IRIMEE has a long-standing legacy as a premier training ground for Indian Railways' mechanical and electrical engineers. Since 1927, it has provided specialised training to railway officers and later played a key role in grooming elite candidates through the special class railway apprentice (SCRA) programme in mechanical and electrical engineering, according to railway sources. "This transformation will make IRIMEE a hub for cutting-edge technological education. It will be open to bright young minds from outside the railways, offering training that matches global standards," Vaishnaw said during his announcement at IRIMEE last Friday. According to East Central Railway's chief public relations officer (CPRO), Saraswati Chandra, the upgraded IRIMEE will focus on mechatronics, a multidisciplinary field that integrates mechanical engineering, electronics, computer science and control engineering, to equip students for the rapidly evolving demands of modern industry. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 자신이 전략의 달인이라고 생각하시나요? 레이드 섀도우 레전드 무료 체험 Undo "The move reflects the railway ministry's broader vision to modernise infrastructure and human resource capabilities in line with India's ambitions to become a global leader in advanced manufacturing and smart mobility," he said. With this expansion, IRIMEE is expected to attract a large number of talented people from across the country and further strengthen its status as a premier institution. The CPRO added that the Vaishnaw has already announced adequate funding for the comprehensive development of IRIMEE as the most advanced centre for high-tech training.
TimesLIVE
12-05-2025
- Health
- TimesLIVE
DRC doctor living in SA for 16 years sues over loss of refugee status
A Congolese doctor who sought refuge in South Africa after fleeing the Democratic Republic of the Congo (DRC) has launched legal action against the government over the withdrawal of his refugee status. Dr Mubangu Moise Basemenane, who has lived in South Africa for 16 years, is seeking urgent relief in the Pretoria high court, arguing the decision endangers his livelihood and family stability. Basemenane fled the DRC in 2008, claiming he was targeted by government forces for providing medical aid to a wounded rebel soldier. His refugee status, granted in 2009, expired on Wednesday last week, leaving him in legal limbo. In court papers filed last week, Basemenane accused the home affairs department's committee for refugee affairs (SCRA) of unlawfully withdrawing his refugee protection, arguing the decision threatens not only his right to remain in South Africa but also his employment, access to banking and his children's stability.
The Citizen
08-05-2025
- General
- The Citizen
Kisumu Park Playground hit by sewage spill again
For the second time in less than a month, a children's playground, Kisumu Park in Sunninghill, has been flooded with raw sewage, raising serious health concerns and frustrating residents. According to Linda Gildenhuys, the chairperson of the Sunninghill Community Ratepayers Association (SCRA), the current incident follows a similar leak that occurred mid-April. That initial leak took days to be addressed by Johannesburg Water (JW), leaving the children's play area in a mess from the sewage spill. Also read: Water leak results in massive potholes as councillor demands repairs 'The last leak was reported on and fixed days later,' said Gildenhuys. 'However, the mess from the sewage was left in the park. We had to put danger tape up to stop the children running through it, and had to get protective clothing and masks for our gardening team to clean up the mess.' The latest spill began around midday May 5, and, as of the time of reporting, is still flowing. According to Gildenhuys, the recurring nature of the problem points to a deeper issue with the aging infrastructure. 'This leak was reported on May 5, and JW came to fix the leak. However, the relief was short-lived. No sooner had they done so, around 10 minutes later, it started leaking again. 'It really should not be difficult to sort out, other than replacing old infrastructure. There are a number of these sewage potholes, and when they clear the first one, they should move down the line and clear the others. They don't. So, time after time, the same thing happens. Also read: Councillor Foley elated as solar-powered lights glow up Winnie Mandela Drive 'It's a waste of resources for starters. They come out, and then have to come out again and again for the same problem.' The primary concern for residents remains the significant health hazard posed by the sewage, particularly in a children's park. 'The presence of raw sewage in an area frequented by young children creates a high risk of exposure to harmful bacteria and pathogens.' Read more: WATCH: Diepsloot residents march for relief from overflowing toilets and blocked sewerage pipes The Fourways Review reached out to JW spokesperson Nolwazi Dhlamini for comment on May 6, and followed up on May 8. No comment was received. More information will be provided once it becomes available. Follow us on our Whatsapp channel, Facebook, X, Instagram and TikTok for the latest updates and inspiration! Have a story idea? We'd love to hear from you – join our WhatsApp group and share your thoughts! At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
Yahoo
28-04-2025
- Automotive
- Yahoo
Sailor wins $7,500 settlement after his car was towed and auctioned off while deployed
A sailor will get $7,500 after his 2011 Mazda was towed and auctioned off in 2022 while he was overseas. The Department of Justice announced that Navy Lt. Jonathan Liongson would receive the money as part of a settlement with Tony's Auto Center, based in Chula Vista, California over violations of the Servicemembers Civil Relief Act, or SCRA. Liongson was stationed at Naval Base San Diego when he parked his 2011 Mazda 6 at a friend's house before heading off on a deployment with the USS Bunker Hill in November 2022. While he was abroad, Tony's Auto Center towed the car, and sold it at an auction two months later. According to the federal complaint, on Dec. 6, 2022, the Chula Vista Police Department impounded Liongson's car because of an expired registration and had Tony's Auto tow it to their facility. Tony's Auto obtained Liongson's registration and information about his loan through the Navy Federal Credit Union. Nearly a week later, Tony's Auto had a contractor mail Liongson notice of their intent to sell his car but he did not receive it because he was aboard the USS Bunker Hill and lived at an address different from the car's registration. In February, the contractor sold the car at auction for around $1,200. Liongson returned home in March, to find that his car was towed and sold. 'While Lieutenant Liongson was at sea, he understood that his ship's mission and the duration of their deployment could change at any moment,' U.S. attorney Adam Gordon for the Southern District of California said in a DOJ release. 'He accepted that reality in the fulfillment of his solemn oath. In turn, the SCRA provides grace and understanding about certain personal affairs.' The Servicemembers Civil Relief Act gives troops serving on active duty orders protections under legal and financial agreements like rental leases, security deposits, eviction, credit card interest rates, vehicle leases and mortgage foreclosures. DOJ officials argued that the business violated the law because they sold the sailor's car without obtaining a court order which was required under the SCRA. In their federal complaint, the DOJ argued that the lienholders failed to consult a free Department of Defense database to check for SCRA-protected servicemembers nor did Tony's Auto policies and practices include using commercial databases to match vehicle and customer information before selling them without court orders. Under the settlement, the federal government will receive a $2,000 civil penalty and Tony's Auto Center will have to ensure that its third-party contractors receive proper SCRA training, according to court documents. 'Members of our armed forces should not have to worry about their cars being auctioned off while they are deployed,' assistant attorney general Harmeet Dhillon said in the DOJ release. 'This settlement should send a strong message to other towing companies that they should not take advantage of our servicemembers while they are keeping Americans safe.' Since 2011, more than 147,000 service members have received over $481 million in financial settlements through SCRA enforcement, according to the DOJ. The USS Bunker Hill was a Ticonderoga-class guided-missile cruiser that was part of the Nimitz Carrier Strike Group which deployed to the Pacific region in November 2022. In September 2023, the USS Bunker Hill was decommissioned. Marine in top enlisted spot leaving the Pentagon after just 2 years Army sergeant found guilty in spree of barracks break-ins and attempted murder End of the 'yeet': the standing power throw is out as new Army fitness test goes 'sex-neutral' for combat jobs Good luck figuring out the Air Force's algorithm for shaving waivers Army cuts athletic trainers from fitness teams, with medics to take up slack
