Military Star Card For Military Families

The Military Star card has a lot of similarities to a bank card, such as Visa or MasterCard. It is a credit card that is accepted within the military exchange (Marine Corps, Navy, and Coast Guard). There is no yearly expense to have the card, there is a low rate of investment, and it offers a 25-day grace period before any interest is charged.

To get the card, you can to go your trade client admin division and present your military ID. If you are approved for the card, you will be issued a temporary card to use immediately..

About the Exchange Credit Program (ECP)

The Exchange Credit Program is designed to help members of the military in building good credit. The ECP products have been developed and customized to meet the needs of military members and their families. It is a great credit source that provides a tremendous amount of help to individuals and their families.

Morale, Welfare, and Recreation (MWR) Programs
Morale, Welfare, and Recreation (MWR) Programs are one of the Exchange’s priorities to fund. More than 60 percent of the income of the Exchange is paid to MWR programs. Every time the Exchange completes a transaction with a bank-issued card, the Exchange pays a transaction fee. These expenses mean a large amount of money every year. By using a MILITARY STAR® card, MILITARY STAR®Rewards MasterCard® Credit Card, and TAKE IT HOME TODAY!™ card and shopping with the Exchange, members of the military are helping to back these MWR programs. Unlike bank-issued cards, benefits produced from the Exchange Credit Program Products (like the MILITARY STAR® card, MILITARY STAR® Rewards MasterCard® Credit Card, and TAKE IT HOME TODAY!™ card) directly help the military through programs such as Youth Services, Armed Forces Recreation Centers, Aquatic Centers, post capacities, and quite a bit more.

The Exchange Credit Program provides benefits to all qualified Active Duty and Mobilized or Activated Reservists or National Guard Military Members. While enlistees and officers are deployed, they may be able to use the card for purchases, and they may have to make regularly scheduled installment payments but at a lower rate of interest. After the end of the deployment, the interest rate returns to the rate listed in the current Exchange Credit Program Credit Agreement and military members must make the regularly scheduled payments.

If you wish to have payments waived during deployment, you must have a good record (no more than one payment past due) and you have to provide a duplicate of your deployment requisitions or a letter from your unit officer. Be sure to include your full name, Social Security Number, and the dates of deployment.

The Service Member's Civil Relief Act (SCRA)

The Service Member's Civil Relief Act (SCRA) is a government law that gives certain assurances to service members. One of these is a 6 percent interest rate on purchases made, including for Reservists or National Guard members. This interest rate does not impact charges you make after you are deployed.

In the event that you meet all the criteria, the Exchange Credit Program will bring down your interest rate while you are on deployment. The lowered interest rate will continue while you are deployed. After your deployment, your normal interest rate will return to the rate in the current Exchange Credit Program Credit Agreement.

The bottom line is that this is an excellent option for the currently deployed as well as veterans.

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