Hey everyone, I have posted a few times in the past but when I come here I usually just soak up all your advice and experiences you all have to offer. Well this is my way to repay you. If you do this correctly you can end up with interest rates as low as 6%. Okay 1st what you do is call your credit card company and ask them if they honor the SSCRA (Soldier and Sailor Civil Relief Act of 19something) they should say yes because its a federal law. Next tell them you are in the military (choose any branch) and the date you entered the service (if you are not in the military I would tell them you went in about 1 month after you opened the account with them for example you opened a cap one card in June of 2000 tell them you enlisted in July of 2000) and when they ask you when you get out tell them 4 years from the date you entered. Okay hereâ??s there tricky part. Some banks will go ahead and drop your interest rates to 6% for the time period you are on active duty some will make you fax them or send them your military orders (basically to verify the dates). At that point if you want you can rig up some paperwork (which I do not suggest) to say you came on active duty on what ever date. Well thatâ??s pretty much it. I know for a fact that Capital one will ask you when you came in when you get out and the branch of service you are in. But it gets better because they charge $0.00 annual membership fee. $0.00 late payment fee $0.00 returned check fee, $0.00 over limit fee, basically there are no fees associated with your card except for the 6% interest which isnâ??t bad. Providian will ask you to fax a copy of your orders to them but will go ahead and lower your interest rate right away. Anyway not all banks will do it but most will. And I wouldnâ??t just stop at my credit cards I will give loans and car payments a go as well. Well good luck and I hope things work out if you decide to try this. Oh yea I don't know how legal this is (Iâ??m guessing not very, unless like my self you are in the military) so if you do it be careful. Anyway have a good day and thanks for all your help. dar
You know, in these times, trying to pass yourself off as an active serviceman or woman when you actually aren't makes me kind of sick. I hope you get caught for fraud.
That is down right stupid!Who in the right mind would fraud the credit card companies by lying too them about being in the military when you are not?I agree with the previous poster about getting your a$$ busted for lying too your lenders!If you are not caught know beleive me you won't get by with it!Do you know what's funny?I get lower rates then 6% on my credit card accounts,and the funny thing is that i get it the honest way!I don't need to fraud my creditors in order to get these rates,i just manage my credit wisely,and keep my credit rating high to get these wonder rates.So if a person is being honest about being in the military that's fine,but if not then don't lie about it.You are being a disgrace to the military.
Remember what our mother's told us - if you don't have anything nice to say, don't say anything at all! I agree with the previous posters in that it's really not a cool thing to do. That's all. Goodbye
hey, the guy said he was in the military so its perfectly legal for him. Knowledge is power, and this is good information for someone who is actually in the military to use. If you want to use it fraudulently, then you are breaking the law and deserve what you get
Hello everyone Wow I knew I could cause all kinds of waves by posting that. Well I figured I would take my chances anyway. FYI Yes I am in the military so it's completely legal for me. I figured that I would throw it out for anyone who wanted to take the chance. And for who ever has credit card rates under 6% well my hats off to you and one day I guess I will get there as well. But if I did offend anyone please accepts my apology and I won't post any more shady practices on this (or any site). Once again Sorry and for people that can use the information I hope if works for you. Dar
This is an interesting post for those military service personnel who may read this board (and I'll bet there are a few). Perhaps some of them aren't even aware that the Soldier and Sailor Civil Relief Act mandates that they qualify for a serious reduction in interest paid on loans. This is great information. Now, as for the suggestion that non-military people try to pass themselves off as military, that's probably not a great idea. I wonder what kind of trouble (civil and criminal) someone might find themselves in if the truth became known to a creditor who wanted to pursue the issue. This probably isn't even something to think about unless you are actually bonafide enlisted. For those who are on active duty, the benefits are very comprehensive. (I just did a quick Google self-education, lol.) In addition to the 6% interest rate, military personnel can bet a break on termination of leases, be protected from eviction, get special relief and protection from civil lawsuits, get special protection for consumer purchases bought under installment (including auto) loans which will prohibit the creditor from foreclosing and confiscating the items (!), and even be protected from certain penalties related to past-due taxes. Here is a link that describes the benefits: http://usmilitary.about.com/library/weekly/aa111201a.htm Very interesting information! (Sans, of course, the idea that non-military people should try to take advantage of this law...) Doc
Yes, that is clear, he is in the military and sharing that information with others in the military is a good thing. What I find repulsive though is that the purpose of his post is not to help other military people, but to show regular people how to try and defraud their creditors using a benefit of being an active serviceman.
The law that makes the 6% possible is the Soldiers and Sailors Act of ????. Its "suppose" to be used for "wartime" purposes to help out Soldiers and Sailors.
