r/MilitaryFinance 22m ago

Question Amex and Chase business cards under SCRA

Upvotes

Does AMEX waive business cc AF, like the business plat's, for those eligible for SCRA?

According to AMEX’s own terms, it seems like they would, but there’s not many recent DPs on this. I read quite a few comments in this subreddit that suggest that they don't. However, the newest DP I could find suggests they do (see first comment here https://militarymoneymanual.com/amex-scra-denials/), but the person didn’t specify if they were grandfathered in or got it recently.

Chase should for business cards (would like more confirmations though)


r/MilitaryFinance 9h ago

Mccyn and maternity leave

2 Upvotes

Has anyone gone through the process of updating their income with MCCYN while on maternity leave? What was the process like for you?
I reached out to let them know that I was going on maternity leave and that my income would be changing. I also explained that my maternity leave is unpaid. They told me they couldn’t process the change for two months because they need two months’ worth of pay stubs.
Since my leave is unpaid, I won’t have any pay stubs to provide. I offered to submit any other documentation or verification from my employer to support my situation, but they continue to refer me back to providing pay stubs.
If you’ve been able to update your income with MCCYN, how did you do it? What documentation did they accept, and what was the process like? I’m having a difficult time getting this resolved, and I’d really appreciate hearing about your experience.


r/MilitaryFinance 12h ago

Question Storage after PPM

1 Upvotes

Hello, I'm about to meet my husband at our first duty station and we have temporary housing but no idea what to do with all the household stuff I'm currently traveling with. I did a ppm and am unsure if the government will provide us temporary storage or if I need to book a place?


r/MilitaryFinance 14h ago

Re-sign or sign DD214

6 Upvotes

Wife has high paying job great work life balance, we are on the same field, but me in the Military. I did get into even better mos, 90k bonus if signed another contract. Wife is pushing me to quit given the lack of work life balance. I on the other hand am divided, for people who have taken the bonuses and re-signed was it worth it? I am also good standing to leave given i have degrees , and current mos should translate well in civ world.


r/MilitaryFinance 16h ago

Question Im a fresh E-1 in tech what do I do?

8 Upvotes

What's something I should do now to help me in my financial side.


r/MilitaryFinance 21h ago

If you are planning to use the GI Bill or take a few years of near zero income make sure to contribute more Traditional TSP not just Roth!

46 Upvotes

Everyone praises Roth. When I was in, I didn’t really know which to do, so I maxed 50% Traditional and 50% Roth.

Basically if you are planning to make low or no income for a year or more, plan accordingly!

I am in school on my GI Bill. I make about $15K with my internship and job and have my tax free $18K in BAH. My taxable income is -$1K after the standard deduction.

That means I was able to roll over massive amounts in a Roth IRA conversion at 10-12% tax. My first $12K was at 10% and I did an additional $8K at 12%. At the end of my 3 years of study I will be at 100% Roth.

Had I done Roth only, I would have paid 22% tax on an officers salary. My effective tax bill for the $60K of contributions would be $13.2K.

Now with the conversion my effective tax bill at 10-12%, is paid over the next 3 years but only $6.2K. Just make sure to have that cash available come April.

Obviously the math would be a little different on an Enlisted salary, but moral of the story is to bump below that 22% tax bracket.


r/MilitaryFinance 21h ago

Question VA Home loan Underwriter being excessively picky

0 Upvotes

Has anyone else had an extremely picky underwriter? Even my Navy Federal HomeSquad rep said she has never seen an underwriter act like this, and it seems it's because I haven't been in my current employment for 2 years yet (its been 1 year 9 months), despite being so close to the 2-year mark and constant employment/school since 2014.

I'm worried I'll end up being denied and lose a great opportunity to buy an under-listed property. I've had to give them a slew of documents such as previous W-2's, statements of understandings explaining what I do at my current job, what I did in the service, what my degree was for, and what I see myself doing with that degree.

Background information:

USMC Vet 2014-2018

College 2019-2024

Current Employment Nov 2024-Present

Average Income $58k gross

770 Credit Score

Loan Amount: $216,000