Posted on 12/10/2022 4:20:23 AM PST by EBH
Whenever the government damned well pleases!!!!
Which is very weird. They were the only bank that doesn’t need FDIC protection. you’d think going without government nosiness for so long that they would want to continue.
The difference between this and a debit card?
It’s called a debit card.
It’s nothing new.
It let’s the bank get away with loaning you money for 25 days on a credit card.
“People use credit cards because they don’t have money in the bank.”
I use a WF CC because I don’t want to give merchants direct access to my checking, savings and brokerage accounts’ account numbers and routing numbers. I have plenty of money in the bank.
if Chase doesn’t want you to buy crypto, you won’t be able to buy crypto with Chase funds
Something doesn’t add up here.
Credit is an incredibly useful tool, especially for those that don’t have cash on hand but have short term expenses that must be paid for. Killing this will kill the economy.
There’s a thousand reasons, especially for the young, why credit is needed.
“Many use them for convenience and auto-pay the entire balance every billing cycle.”
that’s me ... plus United Airline miles, plus down-loadable annual excel statement analyzable by category, vendor, etc., plus GREAT protection against a bad transaction: for bad transactions, the credit card company is your friend ... plus, unlike a bank card, a CC is NOT a direct pipeline into your bank account, and unlike bank cards, credit cards have tremendous financial protection built-in by Federal legislation, protection NOT available with bank cards ...
quite frankly, as long as one isn’t using a credit card as a loan vehicle, there’s no better way to way to pay non-face-to-face payments ...
“we’ve been migrating back to cash transactions for all but online purchases.”
same here: cash for face-to-face payments, CC for everything else, with monthly balances auto-paid ... I get all the advantages of a CC without paying them a penny ... if everyone was like me, they’d go broke ...
Attn Chase, I like all Americans are important people and customers. We deserve the same privilege as the very rich, the use of our money to earn a return until we decide to pay our debts. We will pay when due but not one day sooner. We entered into an agreement and now you desire to unilaterally change that agreement. Maybe yes, maybe no but what would be the consideration offered to change?
“True so my Amazon card will be no more. Well Amazon it was nice knowing you.”
amazon will just switch to a different issuer: there’s a gazillion other credit card issuers beside Chase ...
Lack of consumer protection is the primary reason I don’t use a debit card. It’s essentially the key to acquiring ALL the money in your account.
Cash is better, because you can take a limited amount, it’s anonymous, and you can protect it with your Colt or Glock.
“Guess that will stop.”
amazon will just use one of the gazillion other credit card issuers besides Chase ...
“Sounds like a normal debit card to me. “
Exactly.
I just want to be sure I can still earn airline miles and hotel points.
ICBW, but I believe they are called “maintenance accts” and I’m not sure the banks like them all that much.
This will be a blockchain based system so there will be small “gas” fees per transaction.
My Amazon Prime store card is issued by Synchrony Bank which I believe is just a digital bank.
https://www.forbes.com/advisor/banking/synchrony-bank-review/
Unbelievably difficult to navigate my account to get info I want, so I do NOT use it. I forego the 5% rebate and instead use one of my Chase Visa cards depending on which one offers the best cash back at the time of purchase. These cash back offers go from 1.5% to 5% depending on cc’s current promotion.
I’m fine with the EFT process. The two days (normal delay) is a safeguard. After a system i was responsible for about $4B in electronic payments each year. There were a one time over 15 years where something went wrong. Nice to have that delay with your bank.
So just like a debit card or PayPal and similar…no credit anymore…
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