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Protecting your finances

Servicemembers and their families face unique financial challenges. But there are also unique resources to protect their finances and their rights.

Don’t get ripped off

Be smart about accessing your VA benefits

Thinking about applying for one or more of your VA benefits? Alarms should sound if you receive a call or personal visit at your door offering personalized assistance in filing for your VA benefits.

The Setup

A knock at the door or a telephone call offering military personnel direct, personalized assistance in applying for their VA benefits.

The Red Flag

The VA doesn’t generally make house calls, and it doesn’t participate in telemarketing.

The Scam

These people are not at your door to provide a public service or reward you for your military service. They want your personal information and access to your financial accounts!

The Solution

Information and access to all your VA benefits are available online through the Department of Veterans Affairs. You can also obtain your Certificate of Eligibility for your VA Home Loan Guaranty through the eBenefits portal. All military personnel and veterans can register for access to a variety of information to assist in understanding all your benefits.

If you don’t register until after you separate from the Armed Services, you may need to visit a VA service location to validate your credentials before registering. If you register while you are serving, you can save a trip and keep the same account for life.

Don’t lose money on your credit cards

Your rights under the Servicemembers Civil Relief Act

I am…

Entering the military and have an existing credit card balance.
On active duty and have credit card debt from before I was on active duty.
In the National Guard/Reserves and have been called up to active duty.

I have an existing credit card balance. Can I get any relief from the finance charges?

 You have rights. Read more…

I have been on active duty and have returned home. I just learned that I could have gotten a reduction in the interest rate on my credit card while I was on active duty. Is it too late for me to get this reduction?

 You have up to 180 days after you are released from active duty to let a lender know that you were on active duty. Read more…

If I ask my credit card company to reduce the interest rate on my balance while I am on active duty, can it close my account or reduce my credit line?

 No. Read more…

If I ask my credit card company to reduce the interest rate on my balance while I am on active duty, can that hurt my credit rating?

 No. Read more…

Can I get any reduction in the interest rate I am charged on any new purchases I make using my credit card while I am on active duty?

 The law regulates only the interest rate on amounts that you owed at the time you entered the military service or were called up to active duty. Read more…

I believe that my rights as a servicemember have been violated by my credit card issuer. What should I do?

 You should contact the nearest Armed Forces Legal Assistance Program office. Read more…

Learn more…
The Servicemembers Civil Relief Act gives you certain additional rights.
Military members or veterans who are having problems with their mortgages: call the CFPB at

1 (855) 411-CFPB (2372)

Or visit the VA’s home loans website for personalized assistance.

The VA also offers you video advice on alternatives to foreclosure.
Additional resources for servicemembers, veterans, and their families
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