AFBA Credit Card Services

The Armed Forces Benefit Association (AFBA) has teamed up with 5 Star Bank to offer their members a full banking service including the AFBA credit card, which can be personalized with the customer's own choice of picture or photo.

The AFBA is obviously a service for the military and 5 Star Bank supplies specific financial products for members of the military and their families, from their headquarters in Colorado Springs.

Credit Card Services

The AFBA credit card services are a Platinum Visa Credit card backed by the 5 Star Bank, and a program of rewards is included which is linked to the amount spent on the card. The card is only available to military personnel and their families, although 5 Star Bank themselves, have other members. The basic details of the AFBA credit card services are; no annual fee, a low APR introductory rate on purchases and no balance transfer fees for six months. All rates are subject to credit check, but current rates stand at, 12.99% for purchases, with a 21 day interest free period and 16.99% for cash advances, both variable and based on Prime Rate. They have a slightly different approach to late payment; instead of applying a fee, they increase the APR to a penalty APR of 21.75% until six consecutive payments of at least the minimum payment have been made. If you wish to make a balance transfer, perhaps from a more expensive credit card, you will pay a 3% fee of the balance and enjoy six months at 0% interest. They have regular promotions on rates for short periods, so it is always worth checking their website to see what they are currently offering. Travel accident and lost luggage insurance are a couple of extra benefits offered with the AFBA credit card.

The Rewards program

For every dollar spent using the AFBA credit card services, you will earn one reward point. These points can be traded in for rewards such as flights and other products and services. An example of value is 15,000 points equal a $300 flight redeemed through the programs accredited travel agency, not just any holiday or flight company. However, flights are with major carriers and there are no blackout dates. Rewards can be traded in as cash back or used to purchase gift cards and big-name products often at discounted prices. The AFBA and 5 Star Bank aim to offer their customers a trustworthy and beneficial service through the joint operation of AFBA Credit Card Services.


Source: Credit Cards For People With Bad Credit Rating

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