The 6% Interest Rate Cap
Amex Military Benefits: Annual Fee Waiver & 6% SCRA Cap
Part of: The Complete Guide to the SCRA
What American Express owes you
The cap is retroactive to your first day of active duty, and the excess interest is forgiven rather than deferred. Put your numbers in to see the size of your claim, then generate the letter that asks for it.
Simple-interest estimate on a fixed balance, capped at 6%: the 6% statutory ceiling (50 U.S.C. § 3937). American Express publishes no lower rate, so 6% is your guaranteed floor. A revolving balance that moved over the period will differ. It sizes the claim; it is not an amortization schedule and not legal advice.
Write the letter to American Express
Written notice is what starts the clock. Fill these in and the letter below is yours to copy, print, and send with a copy of your orders.
Where to send it: Request from your online account (enrollment in Amex Online Services required); upload documents at americanexpress.com/documentcenter American Express states it takes Amex advises you of your status up to two billing cycles after you submit.
Nothing you type here leaves your browser. The letter is built on this device.
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
| SCRA | Military Lending Act | |
|---|---|---|
| Which accounts | Opened before active duty | Opened while a covered borrower |
| Interest cap | 6%, and fees count as interest | 36% Military APR |
| Card annual fee | Treated as interest under the 6% cap | Excluded from the 36% calculation |
| Request window | Active-duty start to 180 days after | Applied at account opening |
| You must enroll? | Yes, request it | No, automatic |
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
- 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.
- 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.
- 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.
- Watch for the status answer within up to two billing cycles, then check the next statement for the capped rate and the fee treatment.
- 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 , or see where it sits in the whole Act .
Frequently asked questions
Does Amex waive my annual fee for being active duty?
In practice, often yes, as a voluntary Amex courtesy for active-duty members, but not because a statute forces it. Amex's own FAQ says the annual membership fee is nonrefundable 30 days after billing, and it counts annual, late, and returned-payment fees as interest under the SCRA 6% cap on eligible pre-service accounts. The widely reported fee waiver on personal cards is issuer practice keyed to your active-duty status, so confirm it for your specific card and invoke before the fee bills.
What rate does Amex apply under the SCRA?
The statutory 6%. Amex states the SCRA limits the rate of interest on eligible loans and credit products to no more than 6%, and that interest for this purpose includes fees such as annual membership fees, late fees, and returned-payment fees. It does not publish a voluntary sub-6% rate the way some issuers do.
Can I get a Platinum card annual fee waived through the MLA?
Not through the MLA itself. The Military Lending Act caps covered credit at a 36% Military APR, but Amex notes the calculation excludes certain credit card participation fees, so the MLA does not mandate a $0 card fee. In practice Amex waives annual fees on personal cards for active-duty members as a voluntary courtesy, and on a pre-service Platinum the SCRA reinforces it by treating the fee as capped interest. The outcome is issuer practice, so confirm how your specific account is handled.
How do I request Amex SCRA benefits?
Submit the request from your American Express online account, or call 1-866-391-1460 (7 a.m. to 11:30 p.m.), fax 623-444-3000, or mail American Express, Attn: Servicemembers Civil Relief Act, PO Box 981535, El Paso, TX 79998-1535. Amex says it will advise you of your status up to two billing cycles after you submit your request.
Sources
Heads up: SCRA Saver publishes general information, not legal or financial advice. Laws change and every situation differs. Confirm details with your installation legal assistance office (free for service members) or a licensed professional.