Your military interest benefit could go below 6%.
Capital One, USAA, Navy Federal and Bank of America publish 4% military interest-cap programs for qualifying debt. The account type matters: a card benefit and a home-loan benefit have different conditions.
Start with debt you already have. Match the account, service dates and provider's rules before asking for a review.
Where a 4% cap may apply
These are four verified examples, listed alphabetically, rather than a complete list of military benefits. Each requires qualifying service and eligible debt from before the relevant service period.
| Bank or credit union | Account and conditions to check |
|---|---|
| Bank of America | Eligible pre-service home loans. The bank must both own and service your loan for its 4% benefit. A Bank of America statement alone does not establish ownership. This is not a 4% credit-card claim. Read the official terms. |
| Capital One / Discover | Qualifying pre-service credit cards. Capital One's program offers a maximum 4% for eligible accounts it owns and services, including the Capital One and Discover cards named in its current terms. Read the official terms. |
| Navy Federal Credit Union | Eligible pre-active-duty debt, including credit cards and auto loans. Navy Federal publishes a 4% cap for qualifying debt incurred before active duty. Confirm the service period and account with the credit union. Read the official terms. |
| USAA | Qualifying pre-service credit cards. USAA publishes a 4% cap for eligible credit-card debt. You must be financially responsible as a primary or secondary account holder; authorized-user status alone is not enough. Mortgage benefits have separate rules. Read the official terms. |
The linked provider guides explain reviewed benefits and request routes. An omitted bank or product may still offer relief. Check its current official terms instead of treating absence from this table as a denial.
The federal cap is 6%. These programs go further.
The federal SCRA interest protection generally limits covered interest on qualifying pre-service debt to 6% during military service. Qualifying mortgage debt can receive another year of federal coverage after service ends. State laws may provide separate protections; check the state guides for those rules.
The 4% benefits here are additional provider programs. Their covered accounts, service requirements and end dates need their own review. A bank's 4% mortgage benefit does not automatically apply to its cards, and one provider's rules do not transfer to another.
If an account does not qualify for a voluntary 4% program, ask whether it still qualifies for the federal 6% cap. For example, Bank of America says a qualifying home loan owned by another investor may still receive 6% relief even when the requirement that the bank own and service the loan is not met.
Check the dates—and interest already paid
Line up when the debt began with the relevant qualifying service period. Guard and Reserve members may need to match debt to a later activation; our orders guide explains the service distinctions and protections that may begin before reporting.
For the federal 6% request, send written notice and orders or another appropriate service indicator no later than 180 days after qualifying service ends. The separate year of federal mortgage coverage does not extend that request deadline. Our after-service guide helps you check those dates.
A provider may offer different timing under its own program. Capital One's current request terms describe a one-year post-service request window and benefits continuing until one year after active duty ends. That is Capital One's program; it does not change the federal deadline or establish another bank's terms.
Navy Federal and USAA currently require applications no later than 180 days after qualifying service ends. Apply promptly and follow each provider's current instructions.
Ask every provider to confirm the start and end dates for your 4% benefit, including any period after service. In particular, do not assume that federal mortgage coverage proves an extra year at 4%.
Under the federal 6% rule, covered excess interest must be forgiven, and excess interest already paid must be refunded when a proper request establishes that the protection applies. A possible adjustment under a provider's 4% program depends on that program and your covered dates. Ask it to review earlier charges and explain any refund or credit. See our interest-refund guide for the federal steps.
Ask for a review of your account
- Identify the account and service period. Check the provider on your latest statement, the debt's start date and your service records. For a home loan, ask who owns it and who services it.
- Use the provider's official request process. Follow its current instructions and confirm a secure document channel before sending service proof or account records. Keep a copy and delivery confirmation.
- Ask about both levels of relief. Request review for the federal 6% cap and the provider's additional 4% program. Ask for the applicable rate, covered dates and treatment of earlier interest in writing.
- Check the decision and next statement. Compare the approved dates, rate and credits. If denied, ask for the specific reason. Take disputed legal coverage or an urgent foreclosure, repossession or court issue to military legal assistance.
Use that question with the provider's required notice and proof. Orders First's estimator starts with the federal 6% ruleand may show a separate conditional lower-rate comparison for supported accounts. The basic request asks only for federal 6% relief; ask your provider separately about its 4% program. Your creditor or servicer decides eligibility and the final adjustment. You review and send the request yourself; Orders First does not receive your orders or statements, submit your request or secure a refund.
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