Bank of America Military Benefits: SCRA Relief & the MLA Fee Gamble
No retail discount — a published SCRA program (6% cap on pre-service accounts, deposit-fee waivers) next to an unpublished MLA practice where only annual fees over ~$100 are reportedly credited. Here’s what’s official, what’s community-reported, and when to pick another issuer.
Bank of America has no military discount — no code, no percent-off. What it has is a split personality. Its SCRA program is real and published: a 6% interest cap on accounts you opened before active duty (4% on a mortgage BofA owns and services), waived checking and ATM fees, and benefits that generally run six months past your active-duty end date on credit cards.
Its Military Lending Act fee handling is another story — the least consistent of any major issuer. BofA publishes no fee-waiver policy at all. Cardholder reports point to an unofficial pattern: annual fees over $100 (like the $550 Premium Rewards Elite) usually get charged and then auto-credited as “MLA CREDIT – ANNUAL FEE,” while the $95 Premium Rewards and $95 Alaska Airlines cards are simply charged. At least one servicemember got only $450 of $550 back. If a guaranteed $0-fee premium card is what you want, Amex publishes that deal and Chase’s is letter-confirmed — Bank of America doesn’t promise it, so open a BofA card only if you’re prepared to pay the fee.
This is an independent guide. NavyWeek is not affiliated with Bank of America; BofA sets its practices — including the unpublished MLA fee-credit behavior — and can change them without notice, and the underlying rights come from federal law (SCRA and MLA) and your service dates.
Opens bankofamerica.com · Eligibility set by federal law, your orders, and Department of Defense records
Bank of America Military Discount — Key Facts
- Discount
- None (no code). SCRA: 6% cap on pre-service accounts (4% on BofA-owned-and-serviced home loans) + deposit-fee waivers. MLA: unpublished — fee credits reported only on cards with fees over ~$100
- The catch
- No published MLA fee policy; sub-$100 annual fees reportedly charged; even the $550 card once credited only $450
- Verification
- DoD records (MLA, automatic where it happens); orders or CO-signed Military Orders Detail form (SCRA). No ID.me, SheerID, or GovX
- Who qualifies
- Federal active duty; Guard/Reserve on FEDERAL orders (governor call-ups excluded); spouses/domestic partners/dependents (SCRA rate benefits even on their own accounts, per BofA’s form; MLA covered borrowers by law)
- Where to request
- SCRA: online portal at bankofamerica.com/military-banking/ · 877.345.0693 (M–F 9–8 ET; collect 817.245.4094) · fax 866.696.0292 · Military Benefits Unit, PO Box 673026, Dallas, TX 75267-3026. MLA questions: 844.441.9168
- Duration
- SCRA: active duty (+ ~6 months on cards, “generally”; +12 months on home loans); request up to 180 days post-service
- Best path
- Pre-service accounts → file SCRA. New premium card during service → BofA is the gamble; Amex/Chase are the sure thing
- Region
- United States
Source: Bank of America — Benefits & Protections for Military Members (official: 6%/4% caps, transition benefits, “select fees waived for life” line, deposit-account fee waivers) · Last verified: July 19, 2026
The honest play: expect the fee — and file the SCRA claim BofA does publish
BofA’s only guaranteed wins are the published SCRA and deposit benefits; its MLA fee credit is unwritten practice that usually — not always — shows up.
- Held any BofA card, loan, or mortgage before activating? File one SCRA request with the Military Benefits Unit (877.345.0693 or the online portal) — 6% cap on cards and loans, 4% on a BofA-owned-and-serviced mortgage, plus a reported 6-month tail on cards after duty ends.
- Bank at BofA? Take the published deposit-account waivers — monthly maintenance, ATM, wire, and replacement-card fees — the most reliable everyday benefit.
- Want the $550 Premium Rewards Elite? Run the math as a civilian would (its $300 airline + $150 lifestyle credits offset the fee for heavy travelers even unwaived), then treat the reported “MLA CREDIT – ANNUAL FEE” as a bonus — not a plan. If you want a dependable $0-fee premium card, open with Amex (published policy) or Chase (letter-confirmed) instead.
The ~$100 threshold, the $550 auto-credit, and the $450 partial credit are community-reported — BofA publishes no MLA fee policy and can change its practice silently. Sub-$100 cards ($95 Premium Rewards, $95 Alaska Airlines) are reportedly charged in full.
BEST SAVINGS PATH
The smartest route depends on your situation. Answer the two questions to find your best path, or scan the full decision table below.
Find your best path
1. Did you open the account before your active-duty start date?
2. Is the card’s annual fee over $100?
Two questions decide it. Opened the account BEFORE active duty → file SCRA (published: 6% cap, 4% on a BofA-owned-and-serviced mortgage, deposit-fee waivers). Opening a card DURING service → BofA publishes no MLA fee policy: fees over ~$100 are reportedly auto-credited (usually — one $450-of-$550 partial is documented), sub-$100 fees are reportedly charged. If you want a dependable $0-fee premium card, see our Amex (published policy) and Chase (letter-confirmed) guides.
Pre-service accounts get the published 6% cap (4% on a BofA-owned-and-serviced mortgage) with excess interest forgiven — but only after you file with the Military Benefits Unit (877.345.0693 or the online portal), during service or within 180 days after.
The fee size doesn’t matter on pre-service accounts — under the SCRA, fees count as interest within the 6% cap. File with the Military Benefits Unit during service or within 180 days after.
Community reports say fees over ~$100 (like the $550 Premium Rewards Elite) usually post and then auto-credit as “MLA CREDIT – ANNUAL FEE” — but BofA publishes no policy and one report shows only $450 of $550 credited. Open it only if you can absorb the fee.
Sub-$100 annual fees ($95 Premium Rewards, $95 Alaska Airlines) are reportedly not credited under BofA’s unpublished MLA practice — and charging them is lawful under 32 CFR 232.4(d). Budget the full fee, or pick an issuer with a published $0-fee policy.
| Path | Stack | Effective price | You save | Best when |
|---|---|---|---|---|
| MLA credit — PRE $550 (reported, automatic) | Card opened while MLA-covered (active duty; Guard/Reserve on 30+ day federal orders; spouse/dependent); account opened after Oct 3, 2017 | $0 usually — but $100 in at least one report (fee posts, then “MLA CREDIT – ANNUAL FEE” at statement close) | Up to $550/yr — not guaranteed; no published policy | You want the PRE specifically and can absorb the fee if the credit doesn’t come. |
| MLA — under-$100 cards ($95 Premium Rewards, $95 Alaska) | Same MLA coverage — but community reports show sub-$100 fees not credited | $95 — reportedly NOT waived | $0 | Never a fee play; treat these as full-price cards. |
| SCRA — 6% cap (request required) | Account opened BEFORE active duty; requested during service or within 180 days after | Interest capped at 6% (fees count as interest under the statute; excess forgiven) | All interest above 6% on pre-service balances; runs through active duty, “generally” +6 months on cards | You held any BofA card or loan before activating — file with the Military Benefits Unit. |
| SCRA — home loan owned + serviced by BofA | Pre-service mortgage that BofA both owns and services | Rate capped at 4%, through service + 1 year | Everything above 4% | You have a pre-service BofA mortgage — the one numeric beyond-statute benefit BofA publishes. |
| Deposit-account military waivers | Eligible for military benefits (federal active duty) | Monthly maintenance, ATM, wire, debit-replacement, and check-order fees waived | ~$144/yr on a $12/mo checking fee alone | You bank at BofA while serving — the most reliable everyday benefit. |
| No relief — veteran / civilian | Not applicable | $550 annual fee | $0 (BofA’s unenumerated “select fees waived for life” line aside — confirm by phone) | N/A — not on federal active duty, or more than 180 days past service; standard terms apply. |
WHO QUALIFIES
Bank of America has no retail military discount or promo code. Its published benefit is SCRA relief — a 6% interest cap on accounts opened before active duty (4% on home loans it owns and services) plus deposit-account fee waivers, by request — while its MLA annual-fee handling is unpublished and inconsistent: community reports say only fees over about $100 get credited, so plan to pay any BofA card’s annual fee.
- Federal active duty (Army, Navy, Air Force, Marine Corps, Coast Guard — plus PHS and NOAA commissioned officers per BofA’s orders form) — SCRA on pre-service accounts; MLA coverage applies to cards opened during service.
- National Guard and Reserve called to active duty under FEDERAL orders from the President or Secretary of Defense — BofA’s FAQ is explicit that governor-ordered state duty is NOT eligible (your state’s own law may help).
- Spouses, domestic partners, and dependents — broader than most issuers on the SCRA side: BofA’s own form extends interest-rate benefits to a requesting spouse, domestic partner, or dependent “regardless of whether the Servicemember is liable on the account.” Under the MLA they are covered borrowers on their own applications.
- Veterans and retirees not on active duty — no ongoing card-fee relief. Two tails exist: the 180-day post-service SCRA request window, and BofA’s published-but-unenumerated “select credit card fees waived for life after military service” line — call 877.345.0693 to ask what it covers; don’t count on it.
- Business cards — no MLA fee relief anywhere (the law covers consumer credit only). Pre-service business obligations may still have SCRA claims — route them to the Military Benefits Unit.
| Audience | Discount |
|---|---|
| Cards over ~$100/yr opened DURING covered service (MLA — community-reported, automatic)The $550 Premium Rewards Elite fee reportedly posts and then auto-credits as “MLA CREDIT – ANNUAL FEE” at statement close — but BofA publishes no policy, and at least one cardholder got only $450 back, leaving a $100 fee. | Usually $0 — not guaranteed |
| Cards under $100/yr opened during service ($95 Premium Rewards, $95 Alaska Airlines)Community reports show sub-$100 annual fees simply charged (an Alaska denial is documented from January 2022, when that fee was $75). Never a fee play — treat these as full-price cards. | Full fee — reportedly NOT waived |
| Accounts opened BEFORE active duty (SCRA, by request)Official and published: 6% on pre-service credit cards, lines of credit, and installment loans for your entire active-duty period, with payments reduced to reflect the lower rate — “generally” extended 6 months after active duty ends on cards and installment loans. | 6% interest cap |
| Home loan BofA owns AND services (SCRA)The one place BofA publishes a beats-the-statute number. Loans owned by HUD, Fannie Mae, or Freddie Mac may still get the 6% cap instead. | 4% rate cap + 1 year post-service |
| Deposit accounts (military benefits eligible)Monthly maintenance, ATM, wire, debit-card replacement, and standard check-order fees “and many more” — the published, most reliable everyday benefit. | Most fees waived |
| Veterans / retirees not on active dutyBofA’s “continued select credit card fees waived for life after military service” line is official language with no published fee list — confirm by phone before relying on it. | No card relief — standard terms |
HOW TO REDEEM
Online at www.bankofamerica.com
- SCRA — gather your documentationUse your active-duty orders, or BofA’s Military Orders Detail form signed by you and your commanding officer — BofA accepts the form as a substitute for official orders.
- SCRA — file with the Military Benefits UnitApply online via the Request Benefits portal at bankofamerica.com/military-banking/, or call 877.345.0693 (Mon–Fri 9 a.m.–8 p.m. ET; collect from overseas 817.245.4094). Fax: 866.696.0292. Mail: Military Benefits Unit, PO Box 673026, Dallas, TX 75267-3026.
- SCRA — know the deadline and durationFile during active duty or within 180 days of completing service. Benefits cover your active-duty period; BofA generally extends card and installment-loan benefits about 6 months past it, and home-loan benefits 12 months. Benefits are requested, not automatic.
- MLA — apply as normal and wait (what’s reported; BofA publishes nothing)There is no military application, code, or request form. BofA screens applicants against Department of Defense records; per cardholder reports, on cards with fees over about $100 the fee posts and an “MLA CREDIT – ANNUAL FEE” appears around statement close — automatically. On $95-and-under cards, no credit comes.
- MLA — if the credit never appearsThe dedicated MLA line is 844.441.9168 (collect 302.318.8745) — but there is no published policy to point to, so treat the fee as yours to pay and any credit as upside.
HOW IT WORKS
The reliable, official track is SCRA. On accounts opened before your active-duty start date, Bank of America applies the statutory 6% interest cap to credit cards, lines of credit, and installment loans for your entire active-duty period, with payments reduced to reflect the lower rate — and under the statute, “interest” includes fees, and the excess is forgiven, not deferred. Home loans BofA both owns and services get 4%, the one place BofA publishes a beats-the-statute number, with benefits extending a year past service (HUD-, Fannie Mae-, or Freddie Mac-owned loans may still get 6%). Card and installment-loan benefits are “generally” extended six months after active duty ends. None of it is automatic: request it through the online portal, by phone at 877.345.0693, by fax, or by mail, with your orders or the commanding-officer-signed Military Orders Detail form, during service or within 180 days after. Two published oddities most pages miss: BofA’s form extends SCRA interest-rate benefits to a requesting spouse, domestic partner, or dependent “regardless of whether the Servicemember is liable on the account,” and its benefits page advertises “continued select credit card fees waived for life after military service” — official words with no published details.
The murky track is MLA. BofA’s card agreements acknowledge “credits made in accordance with… the Military Lending Act,” and it runs applicants against Department of Defense records — but it publishes nothing about which fees get credited. Community data points from 2021 through 2026 converge on an unofficial pattern: annual fees over about $100 are credited, fees under are not. The $550 Premium Rewards Elite usually posts its fee and then auto-credits as “MLA CREDIT – ANNUAL FEE” at statement close, no request needed — but at least one covered borrower got only $450 back, and the $95 Premium Rewards and $95 Alaska Airlines cards are reportedly charged in full (an Alaska denial is documented from January 2022). This is lawful: 32 CFR 232.4(d) excludes bona fide, reasonable annual fees from the MLA’s 36% MAPR, so waiving is voluntary — Amex, Chase, and reportedly Citi volunteer fully, Capital One not at all, and BofA volunteers partially and unofficially. Also note the MLA’s credit-card provisions only began October 3, 2017; older accounts are SCRA-only territory.
What to actually do: if you held any BofA card, loan, or mortgage before activating, file one SCRA request with the Military Benefits Unit and let the 6% (or 4%) cap plus deposit-fee waivers work. If you bank at BofA day to day, the published waivers on monthly maintenance, ATM, wire, and replacement-card fees are the dependable win. If you want a premium travel card at a guaranteed $0 fee during service, BofA is the wrong issuer — see our American Express and Chase guides, which document published or letter-confirmed $0-fee practices. And if you want the Premium Rewards Elite anyway, run the math as a civilian would — its $300 airline and $150 lifestyle credits offset the fee for heavy travelers even unwaived — then treat any MLA credit as a bonus, not a plan.
Exclusions & fine print
- No published MLA fee-waiver policy exists — every MLA figure on this page (the ~$100 threshold, the $550 auto-credit, the $450 partial) is cardholder-reported practice, not a Bank of America commitment; it can change or vary by account without notice.
- Sub-$100 annual fees ($95 Premium Rewards, $95 Alaska Airlines) are reportedly NOT credited — budget the full fee.
- Accounts opened before October 3, 2017 can never get MLA relief (the MLA’s credit-card provisions began that day) — they are SCRA territory only.
- SCRA covers pre-service obligations only; during-service accounts fail the statutory test, and denial letters confirm BofA applies it as written. SCRA and MLA never stack on one account — the account-open date picks exactly one.
- State National Guard duty under a governor’s orders is ineligible — BofA requires federal orders from the President or Secretary of Defense.
- The “select credit card fees waived for life after military service” line is official BofA language with no published list of fees or cards — confirm at 877.345.0693 before relying on it.
- Business cards get no MLA fee relief (consumer credit only), and bona-fide insurance and lawful bona fide fees sit outside the SCRA/MLA caps (50 U.S.C. § 3937; 32 CFR 232.4(d)).
- Rewards, statement credits, and welcome offers are unaffected by any relief — this is fee and rate law, not a rewards program. There is no promo code, no percent-off, and no ID.me/SheerID/GovX step.
SOURCES
- Bank of America — Benefits & Protections for Military Members (official: 6%/4% caps, transition benefits, “select fees waived for life” line, deposit-account fee waivers) — Bank of America
- Bank of America — Military Banking Overview (official: 180-day request window, Request Benefits portal) — Bank of America
- Bank of America — Military Benefits FAQs (official: 6-month card extension, spouse/POA guidance, state-Guard exclusion) — Bank of America
- Bank of America — Military Benefits Contact (official: 877.345.0693, fax, Dallas and Jacksonville addresses) — Bank of America
- Bank of America — Military Orders Detail form (PDF: orders substitute; spouse/domestic-partner/dependent extension; PHS/NOAA officers) — Bank of America
- BankAmericard Credit Card Agreement (PDF: MLA 36% MAPR notice; MLA line 844.441.9168; “credits made in accordance with… the Military Lending Act”) — Bank of America
- Bank of America — Premium Rewards Elite card page ($550 annual fee; card credits) — Bank of America
- Bank of America — Alaska Airlines Visa Signature card page ($95 annual fee) — Bank of America
- 50 U.S.C. § 3937 — SCRA 6% cap; fees counted as interest; forgiveness of excess; 180-day notice window; mortgage +1 year — Cornell Law School (LII)
- 32 CFR § 232.4 — MLA MAPR rules (232.4(d) bona-fide-fee exclusion — why partial or non-waiver is lawful) — Cornell Law School (LII)
- 32 CFR § 232.13 — credit-card accounts covered by the MLA only from October 3, 2017 — Cornell Law School (LII)
- Bank of America Military Credit Card Fee Waivers MLA (editorial/community signal: ~$100 threshold, PRE full and $450 partial credits, Alaska denial, dependent report) — Military Money Manual
- Military Annual Fee Waivers: What You Need to Know (independent corroboration of the over-$100 pattern; issuer comparison) — The Military Travelers
- MLA covered-borrower status check (Department of Defense) — U.S. Department of Defense
FREQUENTLY ASKED QUESTIONS
Does Bank of America offer a military discount?
Does Bank of America waive credit card annual fees for military?
Is the Premium Rewards Elite free for active-duty military?
Why doesn’t Bank of America waive all fees like Amex and Chase?
What is Bank of America’s SCRA benefit?
How do I request SCRA benefits from Bank of America?
Do spouses and dependents qualify?
I’m in the National Guard — am I covered?
Do veterans get anything after leaving service?
Does Bank of America use ID.me, SheerID, or GovX?
What’s actually the best move for a servicemember?
MORE MILITARY DISCOUNTS
All military & veteran discountsEditorial policy
- Source priority. We cite Bank of America’s own military-banking pages first — its benefits page (the 6% and 4% caps, deposit-fee waivers, and the “select fees waived for life” line), its FAQs (the 6-month card extension and state-Guard exclusion), its contact page, and its Military Orders Detail form (the spouse/domestic-partner/dependent extension) — and the federal statutes for the SCRA and MLA baselines. A candor note unique to this page: Bank of America publishes NO MLA fee-waiver policy. The ~$100 threshold, the $550 Premium Rewards Elite auto-credit, and the $450 partial credit are cardholder-reported practice from independent military-finance outlets, and every mention labels them that way. All sources were confirmed on the “Last verified” date above.
- Independence. NavyWeek.org is not affiliated with the U.S. Navy, the Department of Defense, NAVCO, or any federal agency. We do not accept payment to recommend specific recruiters, schools, vendors, or services.
- Review cadence. Because Bank of America can change these terms at any time, the offer is re-verified against the official page on a recurring basis and whenever a reader reports a change.
- Reviewer. The page is reviewed for accuracy by the reviewer named in the byline. The "Last reviewed" date at the top of the page reflects the most recent review pass.
- Corrections. Factual errors are corrected as soon as we can verify the issue against an official source. See the "Report an outdated fact" link below.
- Not advice. This page is informational only. For decisions about service, benefits, pay, or assignment, rely on official .mil sources and your chain of command, detailer, recruiter, or accredited representative.
