Amex Military Benefits: Annual Fee Waiver & 6% SCRA Cap

Most issuer pages here are about the rate. Amex is worth reading for a subtler reason: what counts as “interest.” American Express applies the plain 6% statutory cap to eligible pre-service accounts and does not publish a lower voluntary rate. But it states that for SCRA purposes, interest includes annual membership fees, late fees, and returned-payment fees (verified against Amex’s own SCRA FAQ, July 2026). On a premium card, that changes the math on the fee, not just the finance charge.

That is also where a popular claim needs precision. The “free Platinum” is real, but the Military Lending Act is not what does it: the MLA excludes certain credit card participation fees from its 36% cap. The annual-fee waiver you have heard about is a voluntary Amex practice for active-duty members, and on a pre-service account the SCRA reinforces it by treating the fee as capped interest. Claim it, just know which lever is actually pulling.

How the § 3937 fee definition works in your favor

The statute defines interest broadly. Under § 3937, “interest” includes service charges, renewal charges, fees, and any other charges except bona-fide insurance. Amex applies that definition directly: on an eligible pre-service account, your annual, late, and returned-payment fees are folded into the 6% calculation during your benefit period, and anything above 6% is forgiven.

The practical takeaway is about timing. Because Amex treats the annual fee as capped interest but also calls it nonrefundable 30 days after billing, the clean move is to invoke the cap before the fee posts, then confirm in writing how Amex applied it. Do not assume a fee already billed comes straight back.

Two laws, two different accounts

The SCRA vs MLA breakdown covers who counts as a covered borrower. The headline to carry away: for the fee benefit, the SCRA route on a pre-service account is the one that reaches your annual fee, not the MLA.

How to request it

File your Amex SCRA request

1. Identify which Amex accounts are pre-service (opened before your active-duty start date). Those are the ones the 6% cap and the fee-as-interest treatment reach.
2. Request benefits from your American Express online account, or call 1-866-391-1460, fax 623-444-3000, or mail American Express, Attn: Servicemembers Civil Relief Act, PO Box 981535, El Paso, TX 79998-1535. Have your orders or DD-214 ready.
3. Ask that the 6% cap apply retroactively to your duty start date, and ask specifically how your annual fee is treated under the fee-as-interest rule. The letter generator produces a § 3937 request.
4. Watch for the status answer within up to two billing cycles, then check the next statement for the capped rate and the fee treatment.
5. Keep the confirmation, and re-request when you open new eligible pre-service accounts.

Which lever actually waives the fee

It is an Amex courtesy, reinforced by the SCRA, not an MLA mandate. The “free Platinum” comes from Amex’s voluntary practice for active-duty members. The MLA does not force it, because it excludes card annual fees from the 36% cap. On a pre-service account the SCRA backs it up by treating the fee as capped interest. It is a real benefit, so claim it, but confirm it for your card rather than assuming a statute requires it.

Fees are interest here, so invoke early. Because the fee counts toward the 6% cap, the timing of your request relative to the billing date matters. File before the annual fee posts where you can.

Use the 180-day window. Even after you separate, you have 180 days to request SCRA relief on pre-service accounts, and the cap is retroactive to your duty start date. Do not leave forgiven interest on the table.

See how Amex ranks on fees and rate against the other issuers on the bank leaderboard.

The law behind this: 50 U.S.C. § 3937

Maximum rate of interest on debts incurred before military service, where interest includes fees other than bona-fide insurance: read the statute.