DoD

September 6, 2013

Benefits of SCRA and MILITARY STAR Card don’t always intersect

DALLAS – The Servicemembers Civil Relief Act (SCRA), introduced in 1940 as the Soldiers and Sailors Civil Relief Act, was established to protect active duty service members from what might happen to their financial or legal obligations after they start military service.

Decades later, the Military Star Card was established in response to military leadership’s concerns regarding a growing number of rent-to-own, pay-advancement schemes and unacceptably high interest rate scams that military personnel were encountering.

Today, the Military Star Card and SCRA both serve to protect our military, but it can be confusing to find where one ends and the other begins.

While interest rates offered by the Military Star TM Card are very competitive with industry leaders, the card is usually subject to the interest rate agreed upon at the beginning of the contract, not the special interest rates that apply to debt incurred prior to military service under the SCRA.

“The SCRA is a great way to ease the transition to active duty life and reduce service members’ existing financial burden,” said the Exchange’s Senior Enlisted Advisor Chief Master Sgt. Chief Tony Pearson. “However, the special interest rates guaranteed by the SCRA apply only to debt incurred before the start of military service, not to purchases made while on active duty.”

The SCRA benefits Military Star Card holders under certain circumstances: Since many reservists are not considered active duty but are entitled to Exchange privileges, reservists with Military Star TM Card accounts can see interest on existing Military Star Card balances reduced to 6 percent under the SCRA when activated.




All of this week's top headlines to your email every Friday.


 
 

 
DoD

New ‘peer’ consultation service debuts at Military OneSource

WASHINGTON – A “peer-to-peer” specialty consultation service that began June 15 offered by Military OneSource is the newest resource to support and connect service members and their families with professionals who understand the military life, a Defense Department personnel and readiness official said. In an interview with DoD News, Air Force Lt. Col. Tammy S....
 
 
DoD

DOD launches Integrated Lodging Program Pilot

WASHINGTON (AFNS) — The Defense Department will launch an Integrated Lodging Program Pilot June 15, which will provide quality government and commercial lodging, with greater safety and security and better services at reduced rates. Travelers TDY, for 30 days or less, to select DOD locations will be directed to book lodging in the Defense Travel...
 
 
DoD
(U.S. Air Force photo by Airman 1st Class Rachel Loftis)

DoD helps protect beneficiaries from deceptive pharmacy practices

WASHINGTON – In the face of recent aggressive and deceptive marketing practices of some compounding pharmacies targeting TRICARE, the Defense Health Agency is taking aggressive action to help TRICARE beneficiaries, DHA’s ch...
 

 
DoD

Tips for surviving PCS season

SCOTT AIR FORCE BASE, Illinois – Preparation for the upcoming peak moving season for service members has begun and officials in charge of the Department of Defense’s household goods moving program, the Defense Personal Property Program, want to remind everyone that the summer months can be a challenging time for moving. “We know moving can...
 
 
DoD

General Breedlove: Russia now taking ‘Different Path’

WASHINGTON – The West assumed the best of Russia once the Cold War ended, but Russian President Vladimir Putin had other plans and NATO must remain strong in face of the threat from the East, Air Force Gen. Philip M. Breedlove said here yesterday. Breedlove, the Supreme Allied Commander Europe and commander of U.S. European...
 
 
DoD

Official provides update on combat jobs for women

WASHINGTON – Since the Defense Department rescinded a 1994 policy that excluded women from serving in direct ground combat positions, the services have opened about 91,000 jobs to female service members, the Joint Staff’s vice director said here today. Air Force Maj. Gen. Jacqueline D. Van Ovost spoke at a Carnegie Endowment for International Peace...
 




0 Comments


Be the first to comment!


Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>