Can veterans get their credit card debt forgiven?
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Veterans often carry higher credit card balances than civilians do, so what can they actually do about it?
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MoneyWatch: Managing Your Money Can veterans get their credit card debt forgiven? We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. By Angelica Leicht Angelica Leicht Senior Editor, Managing Your Money Angelica Leicht is the senior editor for the Managing Your Money section for CBSNews.com, where she writes and edits articles on a range of personal finance topics. Angelica previously held editing roles at The Simple Dollar, Interest, HousingWire and other financial publications. Read Full Bio Angelica Leicht March 3, 2026 / 12:40 PM EST / CBS News Add CBS News on Google The financial challenges that follow military service rarely make headlines. But the numbers tell a sobering story: Not only do veterans use credit cards more often than civilians, but military families also carry higher balances and owe more money, according to a 2026 study from Armed Forces Bank . For many veterans, though, that debt didn't accumulate through reckless spending. It built up through deployments, relocations, and spotty employment during the transition to civilian life. And today's high average credit card rates have only made things worse. With the average credit card APR still hovering well above 21%, veterans who leaned on this type of short-term borrowing during lean periods are now watching those credit card balances grow faster than they can pay them down. When it comes to compounding credit card interest , the math is unforgiving, and the toll from the financial stress on top of everything else can be taxing. So what can actually be done about it? Veterans have access to a range of debt relief options , but do any of those meaningfully reduce or eliminate what they owe? That's what we'll break down below. Find out how to start the credit card debt forgiveness process today . Can veterans get their credit card debt forgiven? There is no blanket federal program that automatically forgives credit card de...
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