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Chase puts a cap on spending debit cards at $50

What are your thoughts?

http://money.cnn.com/2011/03/10/pf/debit_cards_limit/index.htm

I'm a bit furious! First of all, they can't even give us a car loan of 6 thousand, they want us to go up to 8 thousand, now they want to limit our spending? Ugh!

Answer Question
 
Imogine

Asked by Imogine at 1:14 PM on Mar. 10, 2011 in Money & Work

Level 22 (14,425 Credits)
Answers (18)
  • We got rid of chase a long time ago, I would recommend you do the same.
    scout_mom

    Answer by scout_mom at 1:17 PM on Mar. 10, 2011

  • I'm gonna go to a credit union.
    Imogine

    Comment by Imogine (original poster) at 1:30 PM on Mar. 10, 2011

  • I got rid of Chase years ago, they are one horrible bank they gave me nothing but headaches.
    Gnomeofmyheart

    Answer by Gnomeofmyheart at 1:31 PM on Mar. 10, 2011

  • You have a choice where you bank... No one is holding a gun to your head and making you bank with Chase... My bank is just fine and won't be doing this....
    grlygrlz2

    Answer by grlygrlz2 at 1:33 PM on Mar. 10, 2011

  • Thank you grly. *shakes head* Can't I just complain about it for now until I do switch? Jeeze!
    Imogine

    Comment by Imogine (original poster) at 1:34 PM on Mar. 10, 2011

  • BTW Has anyone banked with a credit union?
    Imogine

    Comment by Imogine (original poster) at 1:34 PM on Mar. 10, 2011

  • Sure complain, but it isn't a Done Deal... It is speculation... Your header of "Chase puts a cap on spending debit cards at $50" Is misleading.... From the article, "JPMorgan Chase, one of the nation's largest banks, is considering capping debit card transactions at either $50 or $100, according to a source with knowledge of the proposal."

    grlygrlz2

    Answer by grlygrlz2 at 1:36 PM on Mar. 10, 2011

  • Well knowing this economy, the government is more about the big man than the little man. So chances are it's going to be passed.
    Imogine

    Comment by Imogine (original poster) at 1:37 PM on Mar. 10, 2011

  • Well knowing this economy, the government is more about the big man than the little man. So chances are it's going to be passed.


    Did you READ the article... do you understand what the FEDS want? "The Federal Reserve rolled out a proposed rule Thursday that caps the fees banks can charge retailers when customers swipe their debit cards."  Government intervention to help retailers....   What did you expect to happen?  

    grlygrlz2

    Answer by grlygrlz2 at 1:41 PM on Mar. 10, 2011

  • So, in "helping" retailers make a profit and reduce costs (and probably a nanny government idea to add to the create jobs category)~ they are capping fees banks can profit from retailers.... Do you understand?
    grlygrlz2

    Answer by grlygrlz2 at 1:42 PM on Mar. 10, 2011

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