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.


 
 

 

The new fight: Writing cyber into the science of war

Every year, the Aspen Security Forum brings together the top minds in defense, intelligence and homeland security. This year, more than ever, the conversation is turning to cybersecurity – protecting computer networks and everything attached to them. Cyber is constantly changing the way conflicts and combat unfold. Here, former U.S. Navy Rear Adm. William Leigher offers insights...
 
 
(U.S. Air Force photo/Osakabe Yasuo)

Need help? Trust your ‘Shirt’

LUKE AIR FORCE BASE, Arizona — When young Airmen need help or are looking for guidance, a good place to start is with a senior NCO. Making it into the top 3 percent in the U.S. Air Force is a major accomplishment. Alt...
 
 

Local Briefs July 31, 2015

Sunset Horseback Ride August 8, 4 – 8 p.m. – Outdoor Rec Saddle up and enjoy a 2-hour sunset horseback ride through the Saguaro National Park.. Final deadline for sign-ups is July 31. Minimum age: 18. Cost of $25/person. Call 228-3736 for more information. White water rafting and camping Aug. 20 – 24 – Grand...
 

 
(Courtesy Photo)

A Q&A with Master Sgt. Jaime Lewis

The men and women of the 12th Air Force (Air Forces Southern) welcomed a new First Sgt. in May. Master Sgt. Jaime M. Lewis, began his career in 2000 as an Aerial Porter, where he performed duties such as passenger services, car...
 
 
(U.S. Air Force photo/ Master Sgt. Jeffrey Allen)

Relationship building by means of the F-16

  America’s stars and stripes and Arizona’s lone copper star always wave proudly at the Arizona Air National Guard’s 162nd Wing. But it’s the adjacent flags of coalition-partners – from the pacific island-nat...
 
 

Military life: Separated, but not alone

  MOUNTAIN HOME AIR FORCE BASE, Idaho — As the dawn broke out over the mountains, I woke up to the sun peeping through my window. Once I got up I went straight to the kitchen to make my family breakfast yet in the back of my mind, all I could think about is how am I...
 




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>