Build the Relationship Before You Apply for the Card

A lot of people go straight for the premium credit card: apply, get denied or approved with a low limit, and move on. A slower approach has worked better for me: build a relationship with the bank before you apply for the card you want.

Start with something lower-commitment

Open a checking or high-yield savings account with the issuer first, and keep it active and in good standing for a while. By the time you apply for the card, you're an existing customer they already know.

That's what I did with American Express. I opened an account there first, gave it time, and applied for the card later. There's no guarantee it changes an approval, but doing it in that order costs nothing, and it's the same reason your own bank often treats you better than a bank that's never seen you.

The active-duty annual fee waiver

If you're on active duty, call the issuer with your orders and ask whether they'll waive the annual fee under the Servicemembers Civil Relief Act (SCRA) or the Military Lending Act (MLA). Several major issuers, including American Express and Chase, waive annual fees for eligible active-duty members. The SCRA covers accounts you opened before active duty, and the MLA covers accounts opened during it. Guard and Reserve members usually qualify only while on active-duty orders. Terms change and vary by card, so call and ask every time you look at a card with an annual fee.

The same thinking applies to what to look for in a military credit card: read past the marketing, ask the direct question, and don't assume a benefit exists because you heard about it once.

Always do your research to ensure the platform aligns with your financial goals and investment style.
Disclaimer: I am not a financial advisor. The information provided here is for educational purposes only and should be verified independently. See the full Disclaimer.