As banks lick their wounds and try to increase profits after legislation that makes them act more reasonably, here are some tricks to watch out for according to Marketplace: They will encourage you to press the credit button when using your bank/debit card; this costs retailers more money. Use debit instead. They will call you and push you to sign up for overdraft protection, that worthless feature that will make your $5 latte cost an additional $33 or $39. Don’t drink the cool-aid, opt-out of overdraft protection. If your checking account is out of money, use your credit card, or better yet, stop spending.
Ah, the memories. I remember warmly when 18.99% was considered a high interest rate, but Chase seems to consider 29.99% the new 18.99%.
This quote speaks for itself: “Mr. Staley [JP Morgan Chase investment banking chief] noted at JP Morgan ‘s Investor Day conference that the bank would respond to any stricter regulation by passing any extra expenses on to its customers …”
Chase Freedom card customers, you now have the choice of a $30 annual fee or switching to a different card that has much less generous rewards. Have a nice day.
This very well made video by a Chase customer chronicles very nicely all the nit-picky little fees and inflexible circumstances that caused him to finally dump Chase.
We reported recently how formerly WaMu Free Checking is no longer free with Chase, but apparently another perk is no longer free, free checks. Yes, Chase charges for them now.
Trevor discovered the hard way that Chase dropped WaMu’s convenient “email when your account is below a certain amount” feature, and resulted in a bunch of overdraft fees. Gee, I wonder why they did that. (story)
This post has a good point – by charging non-customers $6 to cash a check drawn on a Chase account, in a Chase branch, they are assuring that those people will never become Chase customers.
Fees & charges | admin March 2, 2010 | 
Comments (0) 
