If you’re a military service member, you may be wondering which is better: a credit card or military loan?

Military loans are explicitly designed for military service members. These loans are categorized into several different types, including: convalescent leave loans, bereavement loans, home leave assistance loans, and help loans. Depending on what your specific need is, one loan may be better suited than another. For example, if you’re looking for unsecured loans for travel expenses, the home leave assistance loan is probably the best bet. Whereas if you need a cash loan for a home repair, a help loan is the way to go.

Credit cards should not be used in place of a military loan. Even with a perfect credit history and good income, the lowest rates will not compare to military loan interest rates. So, if you can, steer clear of using credit cards whenever possible.

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