FAQs

Do all credit card issuers waive fees for military members?

No. However, only cards with waived fees are displayed on MilitaryCreditCards.com.

Is it bad to have a lot of credit cards?

No, as long as you remain financially responsible, having multiple credit cards can be a lucrative strategy.

In other words: as long as never carry a balance, always pay on time, and are getting more value from cards than their annual fee (which is $0 for military), the benefits of opening more cards outweighs any potential downsides.

Benefits of Having Many Credit Cards

  • Different cards offer better rewards for different categories (travel, dining, groceries, etc.).
  • Sign-up bonuses can be very valuable.
  • A higher total credit limit lowers your credit utilization ratio.
  • More cards can build a longer, more diverse credit history if handled well.
  • Purchase protection, extended warranties, travel insurance, etc. can vary by card.
  • Some cards are better accepted internationally.
  • Others might offer no foreign transaction fees or better exchange rates.

Potential Downsides That You Can Manage

  • Keeping track of due dates and reward structures can be a hassle.
    • Solution: Use autopay and a card-tracking app or spreadsheet.
  • Applying for many cards in a short time can temporarily lower your credit score.
    • This is usually minor if your credit is otherwise strong and you space out applications.

Annual Fees:

  • Some premium cards have high fees that only make sense if you use the perks.
  • Solution: Periodically assess if you're getting enough value to justify the fee.

"Dormant" Cards May Be Closed:

  • If you don’t use a card for a long time, the issuer might close it.
  • Solution: Put a small recurring charge on rarely used cards.

Bottom Line

If you’re disciplined with payments and strategic about your usage, having a lot of credit cards is not bad—in fact, it’s a powerful tool for rewards, credit building, and financial flexibility.

Still not sure? Ask the oracle

Will opening another credit card hurt my credit score?

Opening another credit card can have both positive and negative effects on your credit score, depending on your current credit profile and how you manage the new account.

Possible Negative Effects

  • Hard Inquiry: Applying for a new card triggers a hard inquiry, which can lower your score by a few points temporarily (usually fewer than 5).
  • Shorter Average Age of Accounts: A new card reduces the average age of your accounts, which can slightly hurt your score, especially if your credit history is short (less than a few years).

Possible Positive Effects

  • Lower Credit Utilization Ratio: More available credit can reduce your overall utilization (if your spending stays the same), which improves your score.
  • Improved Credit Mix: If you only have one or two types of credit, adding a new revolving account can help diversify your credit mix.
Is the information on MilitaryCreditCards accurate/reliable?

Credit card benefits are constantly changing!

While MilitaryCreditCards actively surveys the credit card landscape, sometimes changes occur that go unnoticed.

If you see something that is inaccurate, please let us know and we will change it ASAP!