AAFES VALUE

by: Leah Miller and Philanda Morgan

Credit can be frightening, particularly with today’s uncertain economic environment. I can imagine the fear only intensifies when being faced in combination with the additional financial risks associated with deployment or PCS. Responsible use of credit is definitely gaining prominence without much regard to personal financial status. We are all discovering ways to save money and even cutting back to absolute necessity. Find links to tips below or refer back to Lauren’s previous post: Penny Wise for the New Year.

Here’s an editorial from Military Star:

For many young men and women, joining any branch of the U.S. Armed Services means gaining first-time independence. Today’s service members will share new experiences and responsibilities at new duty stations far from home.

This newfound independence also means a growing list of financial decisions and demands, and is compounded when the service member has a family. For many, this will be their first experience with credit.

While some perceive credit as a “bad” thing, the truth is your credit history will determine whether you are approved for a bank, home or car loan, are extended future credit, and whether you are offered the best possible finance rates — during the best and worst economic times.

The MILITARY STAR^SM Card was developed to help service members establish good credit and develop healthy habits to maintain it. The card includes service member-specific amenities that cannot be found with other retail cards, “payday loans” or rent-to-own plans: the lowest interest rate, zero-interest promotions and coupons, no annual, late or over-limit fees, and the option to suspend payments during deployment.

MILITARY STAR extends only a modest credit line to new enlisted military members to help them build good credit over time. New cardholders also receive educational literature about the wise use and long-term management of credit, and credit protection. Building Credit Wisely and Credit Building Basics are just two of the credit education programs available on the Exchange Credit Program (ECP) web site.

Cardholders who may be experiencing financial difficulty and have trouble making their monthly payments can contact ECP Customer Service to make alternative arrangements before their credit situation worsens.

While taking on new credit may not be right for everyone, MILITARY STAR is a sensible alternative for those who have the discipline and means to manage it wisely. Learn more at https://odin.aafes.com/starcard/credited.asp.

Tagged as: credit, Military STAR Card

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