So how desperate is Chase Bank?

[Cleita]

I have a Chase Bank credit card that I'm trying to pay down and I forgot to make a payment this month until practically the due date, so I personally went to the local Chase Bank branch to pay it in person so I wouldn't get penalized. I walked into the bank. There was no one there except the employees. A woman jumped out in front of me from a cubicle asking if I needed help. I said no. I was there to make a payment, so I proceeded to the teller to do my business and I left. The whole time no one came in while I was there.

So two days later, I get a phone call from someone who identified themselves as being from Chase Bank and they wanted to tell me about all the wonderful services Chase has. I keep my checking and savings at a local credit union. So I said I wasn't interested. She was so persistent that I had to be blunt and tell her that because the big banks were so greedy and crooked, I would rather put my money in my mattress if I had no other choice. I also said when they stop charging usury interest rates on their credit cards, I could never do business with them under any circumstances. She then backed off and we ended the conversation.

But it occurred to me. Everyone I know locally, even the Republican conservatives keep their money in the credit union bank because they aren't nickeled and dimed with bank charges and fees. Are they starting to hurt? I hope so. Once I get this CC paid off. I'm done with them.

[MineralMan]

1. One of the reasons that branch banks are not busy, though,

is the increased use of direct deposit. I used to take checks to the bank to deposit them. These days, only one of my clients sends me a paper check. Everyone else deposits directly into my account. Deposits were about the only reason I ever went into the actual physical bank. Now, for that one check, I just go to the drive-through window. And, I'm going to stop doing that, since my bank now offers smart-phone deposits, where you merely photograph the check. Pretty soon, there will be no reason for me to enter my branch's building.

[Cleita]

3. Deposits and withdrawals aren't the only reason people use a bank.

Also, every time I have to go inside the credit union bank there is a long line waiting. Something is amiss about the empty bank.

[MineralMan]

5. That's true. They're the only reason I go into a branch building, though.

That's been so for several years now. Even to use my bank's ATM, I go to a closer convenience store that has one of their ATMs in it.

[dixiegrrrrl]

9. "bank now offers smart-phone deposits,"

jeez, I AM behind the curve.....

I still write checks.
But I do use direct deposit for my retirement income.

[MineralMan]

10. Yeah. Most of the larger banks let you deposit

checks from your smart phone. Basically, you take photos of both sides of the endorsed check and that's it. At my bank, you have to use their banking app on your Android or iPhone. It's pretty easy to use, and seems to work OK. I did it with a small check from a client, and it worked. The deposit was posted and in the account the next day.

I'll probably switch to that method 100% from now on. My bank branch is out of my way, although not by much.

[pangaia]

30. Yes, check out MITK

http://finance.yahoo.com/q/ta?s=MITK&t=5y&l=on&z=l&q=l&p=m200%2Cm50&a=&c=

[RedCappedBandit]

59. Just checked - even my local union offers this.

How convenient.

[Cleita]

69. Credit unions seem to offer everything banks do.

There isn't a service a bankster could offer me except maybe tea and crumpets that my union doesn't offer.

[RedCappedBandit]

71. Yep! They continue to impress me.

[spooky3]

45. My (big) bank forced me to come in to sign papers

after I updated my will. Every other financial institution allowed this to be done online. When I went in, they were having some type of party and offered me food and drink. There were five employees to every customer and everyone was very nice. That's all great, but what I want is my business handled quickly and efficiently (and preferably online), which they didn't do. Unfortunately, the only one authorized to handle my routine paperwork was the bank manager, and he didn't know what he was doing. He had to check with the home office, etc., and eventually check back with me the following week.

I think their rules were basically set up to force you to come into the bank so they could try to sell you something else. My insurance company did something similar on another occasion. I felt bad for the employees since I don't think they controlled the policy, so I tried to stay patient and nice, but customers are busy these days and do not want to have to be forced to take time off to handle routine paperwork, let alone sit and wait for an hour for something to be done. I also have no problem understanding that some people like the Mayberry-style face-to-face service, but we all don't have the same preferences.

Why not think about what the customers want and give them that, instead of trying to push products on them? Unfortunately, there are also problems with small banks and credit unions here, so switching banks at this point doesn't make much sense.

[GoCubsGo]

2. I am still getting regular credit card solicitations from them.

Despite not had steady work for a long time, I have managed (barely) to keep my credit rating high. And, despite not having a job, they're STILL begging me to get one of their credit cards. Thanks, but no thanks.

[Cleita]

4. They seem to be desperate, don't they? n/t

[AndyA]

6. I hope the big banks are hurting.

They advertise a lot, so perhaps they are. Doesn't appear to be enough to hurt their profit, although I'm sure they manipulate things to their benefit.

I hope people don't forget what the banks did to this country. I also hope people "go out and make" the President, Congress, and/or the Justice Department do something to hold them accountable.

[Cleita]

8. I don't think our pols will do anything, but if the people

Last edited Sun Mar 24, 2013, 09:35 PM - Edit history (1)

boycott them, it should bring them down eventually. I don't think there are enough billionaires and millionaires around to keep them afloat.

[Yavin4]

7. I keep a small checking account with Chase just pay bills and have some walking around money

They spend a fortune on selling me their products from their credit cards to their bullshit high interest savings accounts.

[Cleita]

11. They are being very aggressive lately, it seems.

Could it be because, poor, underpaid and starving people don't have any money to put into the bank? Yet, the Republicans think this is the way to run an economy by starving everyone of decent wages.

[Paul E Ester]

12. Ever since the repeal of glass segal the banks have made more money

Off of businesses other than the retail consumer.

They don't need your cash. The Fed will give them billions at 0 interest.

There are actually moves to start charging people the privilege of storing their money in a bank because banks have to pay deposit insurance on accounts.

Some banks now charging for deposits

Whats your bank balance vs. managing the cash for the SNAP program like JPMorgan does.

Every time a poor person buys food with SNAP, CEO Jaimie diamon is a little bit richer.

http://www.fns.usda.gov/snap/ebt/ebt_status_report.htm - Current contractor

[Cleita]

13. That sucks. Jaimie Diamon is on my hit list of very undesirable people.

No I don't mean I want him dead, I just have a list of these money guys I keep an eye on and that I hope never get positions of power in our government.

[Paul E Ester]

15. He famously waved his presidential cufflinks all at the congressmen when they made a half hearted

attempt at holding them to account.



http://www.thedaily.com/page/2012/06/13/061312-news-dimon-cufflinks/

[Cleita]

25. I wonder where he got those?

I hope not from Obama considering he seemed to favor Romney last election according to the article you posted.

[phylny]

54. My husband has a pair.

He got them when his ex-fraternity brother was W's secret service agent.

No lie. He met Shrub as well.

[MindPilot]

14. Desperate enough to FedEx mortgage refi solicitations.

Every few weeks, my SO--even though she has been unemployed for almost a year--a FedEx driver rings the doorbell and she signs for a package. Inside is a single sheet promising the best of all possible mortgage worlds and all that remains is to call now!

Of course when the application process actually begins, the promises start to evaporate as soon as there are hard questions like, the offer said 3.5, why is it up to 4.75?

All I can figure is that Chase is really needing to replace some of its mortgages that it really may not actually, you know, own? In any case they are desperate enough to pay FedEx to deliver the plea.

[Cleita]

26. Boy I hate that bait and switch tactic.

Last bank who tried it on me got me to put my money elsewhere. Of course, that was decades ago.

[RB TexLa]

16. My card from Chase charges 3.9% how is that "usury interest rates on their credit cards"

[Cleita]

17. You get that?

Have you actually calculated that? I find I'm paying 18% with all the little categories they gouge you with. 18% used to be what pawn brokers and the mafia charged back when we had usury laws. Maybe I need to call her back and see if I can get my interest down.

[RB TexLa]

18. It's calculated on my statement. I don't know what little categories you are talking about

It's a daily balance method of calculating interest. It's universally used.

[Cleita]

19. I don't have my bill in front of me, but it's broken down

into three categories with three different rates. Suffice it to say when I add them all together to come up with the interest rate, I get 18%. I had some really major expenses last year, between my broken teeth having to be repaired with crowns, my cat needing expensive veterinary care and my car breaking down, which I had to fix because I don't have public transportation, etc. it really forced me into a big debt and the interest is usually a third of the minimum payment I make and I have to make a minimum payment because there is no money left over any more from my SS for extras what with the price of gas and food these days.

[RB TexLa]

20. Mine just has the one rate.

[Cleita]

21. There are different rates for purchases and getting cash advances.

[RB TexLa]

22. I'm sure it has a cash advance rate, I've never used it for that

[Curmudgeoness]

48. You don't add those rates together to get your rate.

If I remember correctly, there are 3 rates, one for traditional charges, one for special deals (like using the card for hotels on a month when that is their special), and one for cash advances. Each rate is a separate rate....but just know that the bank will apply all of your payment to the lowest rate that has a balance first. After that low rate special deal is paid off, then they will start applying payments to the next lowest rate.

[Cleita]

49. It still amounts to 18% of the balance owed any way you look at it.

[L0oniX]

29. Oh bullshit! If that is true then you are part of the 1% IMO. n/t

[RB TexLa]

31. You don't have to be rich to have good credit

[Cleita]

32. I have excellent credit, so why the discrepancy?

[RB TexLa]

33. Ask Chase for a reduction.

[oldbanjo]

44. I have two Chase cards with low interest rates like you have.

[L0oniX]

50. Whatever ...my cs is over 800 with a paid off home and car and I don't get that %.

Which is why I'm calling this ...bullshit.

[Fuddnik]

47. I have a Chase card at prime rate.

It started out as a Huntington Bank Union Plus Card. Then AFL-CIO changed banks, but I kept the card, at that rate. About 12-13 years ago, Chase took it over and I still have a prime variable rate. I'm sure that the cash advance rate is higher, but I've never used it. The rate has been as high as about 8.5% back in the '90s, but right now is hovering around 3.25%.

That being said, I have another Chase card, sitting in a safe deposit box, unused for 6 years with a 29% rate, because I was a day late on a payment when I was out of town. Never used that one again. Never will.

A couple of years ago, they tried to raise my low card, to prime+9%, I told them to stuff it, and to close both accounts. A few days later, they said I was mailed the rate increase "in error", and disregard it.

Don't even ask about the nightmare I had with them and a mortgage. That was always paid early.

That low card is the ONLY reason I do any business with them at all

[A Little Weird]

43. Wow

You're lucky! I've never seen interest that low except maybe for an intro rate to get you to sign up. I think my rate on the chase card is 18%. I pay it off every month but if I miss even one month I'm in a world of hurt.

[tammywammy]

55. Mine would be 18%, I think.

I have 0% through June of this year, but I pay it off every month. I think after June it goes to like 18%, and I have g excellent credit.

[JHB]

72. Is that the regular rate or a special offer rate?

I have two Chase cards (thanks to bank buyouts), and the regular rates are squarely in the vicinity of "usury", but some years back I took advantage of one of those "use these checks and pay X interest for the life of the loan" on those accounts and was able to consolidate my total (and too large) credit card debt on those two cards at 2.9 and 3.9%. That was a major factor in my being able to pay down principle rather than treading water getting almost nowhere.

[bhikkhu]

23. The Chase bank where I live is very friendly

A couple of years ago I had a mortgage with them I needed to refinance, and they were very positive and helpful in trying to get it re-done. It didn't work, in the end, as they had written off some credit card debt of my wife's and understandably had to back out, but they were very nice about it.

In any case, I did a little more credit repair and transferred all my banking to a credit union, which refinanced our house at a much better rate. I closed all my Chase accounts - no hard feelings, but still happy to move on.

The sense that I get is they are making the best of what they have left, trying to do their best in customer service, and using their size to bring out some good new products. Which is fine, but maybe a lot of people (like myself) have moved on anyway. I don't need all the bells and whistles, and my credit union is friendly too.

[Cleita]

24. I love my credit union. I wish I had moved there sooner than I did.

As far as I'm concerned, until big banks are brought under control again, I don't need to patronize them ever again.

[Ron Obvious]

27. I miss Washington Mutual...

I used to have a free chequeing account with WaMu. When they were bought by Chase, they changed the rules on me so they would charge me $10 every month if my account went below $1,500(?), where it used to be $300. And another $10 if I didn't use my debit card as a credit card at least once during the month. I'm sure they told me about these changes to my contract in one of those stupid pamphlets they include with the monthly statement and which nobody ever reads, but I didn't notice for months. I consider this blatant theft

Then if I did use my debit card as a credit card, I think I was in the running for some prize or other. Shortly after that, I noticed "using a debit card as a credit card will cause this machine to malfunction" warnings at the gas station.

I'm fed up with these stupid games. Banking should be boring and simple. I've never been happier than when I switched everything over to the Credit Union.

[Cleita]

28. I had WaMu too and I went over to the credit union when Chase took over. n/t

[jeff47]

56. Btw, that "malfunction" sign isn't true

The gas station has to pay a cut to the credit card processor when the card is run as credit.
They don't have to pay a cut when it is run as debit. Instead, it's usually you paying a fee.

That's why gas stations used to have different prices for "cash" and "credit".

If you'd like them to stop pocketing the fee, you could let MasterCard or Visa know about the signs. They won't be pleased.
OTOH, MasterCard and Visa aren't exactly the most wonderful organizations on the planet.

[Ron Obvious]

57. Yeah, I saw through that one... n/t

[leftieNanner]

34. We used to have EVERYTHING with Wells Fargo,

Mortgage, credit cards, savings, checking, kids savings..... but when they cranked up the fees on our accounts, I methodically pulled out all the money and moved it to a local bank where they know who I am, provide excellent service, and don't charge any fees. And the Wells credit card is just about paid off - which means I will be 100% finished with them. What I really want is for Congress to break up the banks, not allowing consumer banking, investment banking, insurance, etc. etc. etc. all in one organization. Then *Poof* no more Too Big To Fail.

[Cleita]

36. Good for you. Wells Fargo is a sloppy operation.

When I did bookkeeping all my messed up accounts were with Wells Fargo. I wouldn't trust them with my money.

[greiner3]

35. I have both;

A professional and a good personal aquaintence with my credit union manager.

She used to work for one of the big banks; unknown which.

I commented last week that there were a LOT more customers and she, under her breath, told me it was BECAUSE of so many people switching from big banks, such as Chase.

Good for them, the new credit union customers, and bad for the scum sucking big banks!!!!!!!!!!!!!!!!!

[Cleita]

40. I figured something like that was going on.

Even when Chase was still WaMu, there were always lines for the teller.

[alp227]

37. You should have just hung up on the telemarketer n/t

[Cleita]

39. She wasn't a telemarketer. She was a person from the bank.

I don't know how she got my number, but maybe it's on my cc records.

[47of74]

38. Mine is local

I used to have my accounts at US Bank. That was the result of the bank my family had been with for decades getting swallowed up by a series of mergers and acquisitions until it became US Bank. They got kind of fee happy a couple years ago, so I decided it was time to switch. I'm now with a local bank that doesn't go overboard with fees. I was the last member of my immediate family to have an account with US Bank. Even my dad switched his business accounts to a local bank.

[Cleita]

42. I wish we'd go back to the old system where banks could only be

incorporated in one state only. It kept them from getting too big and overreaching. They were also easier to regulate and audit. We wouldn't have all the problems of the mortgage crisis and the bailouts if that were so.

[Tuesday Afternoon]

41. DU Rec.

hate and despise Chase. they bought my mortgage and increased my payment.

[bluedigger]

46. I've been laundering my ill gotten drug proceeds with Chase for years.

And I never get that level of service!

[Cleita]

53. And I don't even have an account with them, just the credit card,

which I'm going to dump when I can find a better deal.

[BlueStreak]

51. Chase is not hurting at all. They are swimming in profits.

Maybe the branches are a bit slow, but that is because most normal banking transactions don't require a trip to the branch anymore. So these people are there to push other stuff.

Chase makes enormous amounts on payment cards. They get vast amounts from the merchants, and then they turn around and hit the customer for even more fees and charges.

Chase isn't going out of business any time soon. They won't be dune until we are all bankrupt.

[Cleita]

52. Could the reason that they are swimming in money

is because they are sucking at the federal teat? I mean I used to work in banks at the corporate level and I know how they made money back before deregulation and that meant lots of accounts and lots of mortgages. People still go into banks because my credit union always has long lines in it.

[Hekate]

58. I have two Chase cards, one of which has been mine since the early '80s

That string of numbers that constitutes my credit account has been bought and sold so many times I cannot even remember which entity first issued it to me. It is of value to me primarily because of its age -- that is, I hope my good history still has some meaning. The other one I got much, much more recently on offer from Amazon.com and I use it for online purchases.

Chase kept offering me $125 for opening a checking account, and I finally bit. I found them obnoxious, though not in the sense of rudeness. One day when I went in there was an elderly lady in one of the cubicles saying plaintively that she had no idea where her money had gone (in context, I believe some dipshit there talked her into an investment that went south) and another day there was a college girl phoning her parents saying that the bank never heard of the money that had been sent to her. I finally closed my checking account. I just have no respect for Chase as an entity.

As for my savings, most of them are in a bank that used to be local, though now not so much. They kept the local manager and we trust him, but I am gradually transferring my savings over to the credit union. If the out of state corporate bosses get rid of him, I seriously doubt my husband and I will keep anything there. The interest rates are so low we might as well be keeping the money in a coffee can buried in the yard.

[RedCappedBandit]

60. I always laugh when these parasitic fuckers try to get me to sign up.

I'll stick with my TFCU, thanks.

[BrotherIvan]

61. I have been very alarmed at all the Chase branches opening here in CA

It's the only new stores going in that I've noticed. While everything is going out of business, a Chase moves in. Sometimes there is one and another one opening soon less than a mile in a relatively small town. I figured it was part of the terms of their bailout agreement and they're just taking it as a loss. Or maybe they are trying to give Wells Fargo a run for its money because they have dominated the west coast for so long. But it's so ironic to see all these small local businesses going bankrupt and the streets awash with banks. Shows just how much our country is in denial and how much it has changed.

[Cleita]

63. How nice of them to take a loss with taxpayers' bailout money.

[AngryOldDem]

62. I consider going into a Chase branch as taking time off my stint in purgatory.

I'm there to do business, not to be glad-handed or sweet-talked, or high-pressure sold into shit I don't need. Once when I was in depositing a check, they were looking at my balances and tried to talk me into doing a whole bunch of stuff., none of which I would trust Chase to handle for me. My car loan is through them and I'm keeping current with it, can't wait until that's paid off. My branch doesn't seem as high-pressure sales as it used to be; maybe they're meeting their quota or whatever it is so they don't have to strongarm people.

My Chase story involves the time when I ordered checks, using that order form that comes with the pack. I got my checks, and the account number was wrong. Went to the bank, explained the problem, they apologized all over the place and put in a new order. Second batch of checks came; number still wrong. Back to bank, where I sat and watched the guy enter the number in the system so I could be assured that it was finally done correctly. It was an unnecessary hassle -- people just weren't paying attention.

What I particularly don't like is their smarminess and overfamiliarity. I don't like being called by my first name by people whom 1) I don't know; and 2) I'm doing business with. It just puts me off.

[Dreamer Tatum]

64. So you get good customer service and

They're desperate?

[Cleita]

65. Harassing you to do business with them is not good customer service

especially when you aren't a customer to begin with. If they wanted to be of service to me, they could lower their interest rates on my credit card. It smacks of desperation to me to try to steal away accounts and mortgages from the other banks. But you know that don't you? I don't know why you even said this.

[Dreamer Tatum]

66. Because shock of all shocks

They're a fucking bank, and lending money is how they make money.

Of course this simple point makes me a rethuglibanksterevilblahblahblah, I'm sure.

[Cleita]

68. If you say so. n/t

[Earth_First]

67. I had a similar experience...

A part-time job that I have cuts me a live check that I have to cash occasionally in person at Chase Bank.

Both times I've been in there, they have ravenously attempted to seduce me to their products.

Each time, like yourself, I've had to explain where and why I bank with a credit union.

I too, hope that they're feeling the pressure...

[bemildred]

70. I recently walked into my bank, which shall be nameless,

sat down on a couch and waited to be served, without any stated purpose. I sat there and left after 15 minutes or so. About a half-dozen visible people who appeared to be working there. Nobody ever said a word to me.

On that basis alone, I am now considering whether I need to move my money somewhere safer.

I dumped Chase a couple years ago for the reasons you state. They are thieves and criminals.