Discover Bank provides many of the benefits that are required under the Servicemember’s Civil Relief Act (SCRA). This act was put in place to help servicemembers with financial problems by restricting the terms, fees, and interest rates that can be charged on rental agreements, home mortgages, automobile loans, and many other common financial instruments, including credit cards.
The SCRA explicitly states that when service members are on active duty, no interest above 6 percent can accrue for past credit obligations. That excess interest above 6 percent is permanently forgiven. Additionally, the monthly payment must be reduced by the amount of interest saved during the covered period.
According to their website, Discover offers 6% APR or less and charges NO Late Fees on all Discover card purchases and cash advances. According to some cardholders, Discover even waives and REFUNDS all interest charges, so Military personnel should definitely take advantage of these offers.
 Open a Discover® Online Savings Account for all these features: • Earn $200/$150 Bonus with promo code LOP325 by 9/11/2025 • Earn high interest rate of 3.50% APY • No minimum opening deposit, no minimum balance requirement, and now no fees • Interest on Discover Online Savings Accounts is compounded daily and credited monthly • Manage your account online or with the Discover mobile app • FDIC insurance up to $250,000 • See advertiser website for full details To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code LOP325 at application, deposit into your Account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Qualifying deposit(s) may consist of multiple deposits and must post to Account within 45 days of account open date. Maximum bonus eligibility is $200. What to know: Offer not valid for existing or prior Discover savings customers. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of qualifying for the bonus. Bonus is subject to tax reporting. Offer ends 09/11/2025, 11:59 PM ET. Offer may be modified or withdrawn without notice. Due to new customer funding limits, you may wish to initiate fund transfers at your other institution. For information on funding, see FAQs on Discover.com/Bank. |
SCRA Eligibility:
The Discover Bank SCRA benefits are available to all active duty service members and their spouses/domestic partners on joint accounts. To qualify, the service member must have served in one of the following U.S. military branches:
- Army
- Navy
- Air Force
- Marine Corps
- Coast Guard
- Reservists and members of the National Guard
- Commissioned Officer of the Public Health Service or the National Oceanic and Atmosphere Foundation
Benefits of SCRA:
- Expands current law that protects service members and their families from eviction from housing while on active duty due to nonpayment of rents that are $3,329.84 per month or less for 2015, this amount changes every year.
- Provides a service member who receives permanent change of station orders or who is deployed to a new location for 90 days or more the right to terminate a housing lease.
- Clarifies and restates existing law that limits to 6 percent interest on credit obligations incurred prior to military service or activation, including credit card debt, for active duty service members. The SCRA unambiguously states that no interest above 6 percent can accrue for credit obligations (that were established prior to active duty or activation) while on active duty, nor can that excess interest become due once the service member leaves active duty – instead that portion above 6 percent is permanently forgiven. Furthermore, the monthly payment must be reduced by the amount of interest saved during the covered period. Note: This law only covers debt incurred prior to military service.
- Allows you to terminate a cell phone contract if you relocate for at least 90 days to a location that does not support your cell phone service.
- Allows you to terminate a vehicle lease you signed prior to joining the armed forces if you enter military service under a call to duty on orders of 180 days or more. You may also terminate a vehicle lease if you receive PCS orders to an OCONUS location or deploy OCONUS for at least 180 days.
 | BMO Bank Checking: Open a new BMO Smart Money Checking Account and get a $400 cash bonus* when you have a total of at least $4,000 in qualifying direct deposits within the first 90 days. Learn More---BMO Checking Review *Conditions Apply. Accounts are subject to approval and available in the U.S. by BMO Bank N.A. Member FDIC. $4,000 in qualifying direct deposits within 90 days of account opening. |
 | Chase Ink Business Unlimited® Credit Card: New cardholders can enjoy a welcome offer of $750 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening. Click here to learn how to apply--- Review |
Bottom Line:
Being able to avoid credit card fees and high interest charges as a result of the Discover Bank SCRA benefits can save you and your family hundreds of dollars every year! If you’re a former or active duty service member, you should definitely take advantage of this opportunity because you deserve financial freedom.
Just log into your Discover account and talk to customer service about the benefits that you can receive from the SCRA. If you are interested in more offers, check out all of the Discover Bank Promotions!
 The Southwest Rapid Rewards® Premier Credit Card offers 50,000 bonus points after you spend $1,000 on purchases in the first 3 months from account opening. In addition, you'll earn 6,000 bonus points after your Cardmember anniversary each year. You'll earn: • Earn 3X points on Southwest purchases. • Earn 2X points on local transit and commuting, including rideshare. • Earn 2X points on internet, cable, phone services, and select streaming. You're able to redeem your points for flights, hotel stays, gift cards, access to events and more. This card does carry a $99 annual fee, but there are no foreign transaction fee. |
SCRA Rules apply to ALL lenders. There is nothing special about this at Discover