Comments on: Chase is Chasing My Business Away

By: Little House

Little House — Fri, 04 Sep 2009 00:53:11 +0000

I have my own beef with Chase Bank and have vowed to never do business with them again. They change their terms whenever they feel like it and don’t notify you until after it’s all said and done.

Check out http://www.consumeraffairs.com and you will see hundreds of complaints about Chase.

This isn’t about switching rewards programs, but instead closing customer accounts.

-Little House

By: Rich Credit Debt Loan

Rich Credit Debt Loan — Tue, 01 Sep 2009 20:35:55 +0000

American Express blue cash

By: Jaime

Jaime — Tue, 01 Sep 2009 19:46:59 +0000

I also tried to move from Chase to Schwab Visa (2% flat is great we you have a business than requires expensive equipment) but they declined my application because I am not a USA Citizen; although my credit score is good (this is the first time I am declined on an application) :(
Is there someone without citizenship with this Schwab Visa Card??

Thank you,

Jaime

By: Erica Douglass

Erica Douglass — Tue, 01 Sep 2009 13:59:35 +0000

Like others, I switched from Chase Freedom to the Schwab Visa. I’m pretty happy with it, and 2% cash back on everything is a lot better than having to remember which “category” the bonus is in.

Schwab doesn’t charge a 3% fee for foreign currency transactions, either, which is a nice bonus.

-Erica

By: Matt SF

Matt SF — Tue, 01 Sep 2009 02:52:51 +0000

“Which rewards checking debit card do you use?”

I actually have two or three (self confessed rate chaser), but right now, I’m keeping the bulk of my cash reserves with Royals Bank of Missouri. I used the Pleasant Hill Comm Bank for most of last year, but their interest rate has dived from 5% to 3% in the last couple months.

Like you, most of my debit card swipes are at the self checkout grocery line. I go every two days or so the swipes add up fairly quick. I actually considered giving $1 per day for 10 days every month, but haven’t had the cojones to try it.

By: MossySF

MossySF — Tue, 01 Sep 2009 00:00:56 +0000

I’d favor cancelling the card. I cancelled my oldest card — in use since 1990 — and my credit score dropped immediately afterwards about 20 points from 800 to 780 but it doesn’t take too long for the score to rise back up.

By: Kosmo @ The Casual Observer

Kosmo @ The Casual Observer — Mon, 31 Aug 2009 22:26:25 +0000

“Would it be suspicious if I do it every month? ;-)

I think with the transactions adding up to around $5 total it might slip by under their suspicious activity radar.”

Actually, it might be MORE likely, since thieves commonly run through a few small transactions as a test.

My Chase Amoco card gets flagged if I try to use it at the same gas station 3 times in a day. So it got flagged when I was filling up both cars at the neighborhood Amoco one time – because the first pump was screwy and I had to quit and continue filling at another pump.

By: Paul

Paul — Mon, 31 Aug 2009 22:12:33 +0000

Schwab Bank Invest First Visa Credit Card
2% cashback on all

http://www.schwab.com/public/schwab/banking_lending/credit_card

no auto pay.

For gas i use Discover More card for 5% on the first $100 then back to the Schwab card. which is rare most months.

By: Joe

Joe — Mon, 31 Aug 2009 21:58:04 +0000

If you got swept up in the same change I did, the new card has an annual fee — although they’re supposed to waive that fee for the first year. (I actually got charged, and when I called them up, they said that was a mistake and I should be getting a credit for that amount soon.) I was using my Chase Rewards a lot, so my plan is to transition off of it, make sure all recurring-charge activity gets set up on different cards, and then cancel it.

By: Lazy Man

Lazy Man — Mon, 31 Aug 2009 21:41:10 +0000

Would it be suspicious if I do it every month? ;-)

I think with the transactions adding up to around $5 total it might slip by under their suspicious activity radar.

By: Steve

Steve — Mon, 31 Aug 2009 21:40:56 +0000

I switched from a Chase Freedom to the Schwab Visa. 2% cash back on everything with no limit is much better than the Freedom card for me. I put everything I can on the Schwab card and pay it off at the end of the month. The rewards automatically go into a brokerage account every month and I can do whatever I want with the money once it’s in there.

By: kosmo @ The Casual Observer

kosmo @ The Casual Observer — Mon, 31 Aug 2009 21:26:43 +0000

“I’ve even thought about getting the ten transactions done at the beginning of the month buying 10 canned goods through the help self-checkout line at the grocery store late some night”

And you’re thinking that won’t get flagged as suspicious activity and get your card temporarily deactivated?

By: Lazy Man

Lazy Man — Mon, 31 Aug 2009 21:12:23 +0000

Matt, I had written about those before – http://www.lazymanandmoney.com/5-interest-from-a-checking-account-yes/. I’ve even thought about getting the ten transactions done at the beginning of the month buying 10 canned goods through the help self-checkout line at the grocery store late some night (where I won’t annoy anyone).

Which rewards checking debit card do you use?

I’ll have to look into Schwab and Fidelity, I have so many accounts now that I don’t know if I want any more.

By: Matt SF

Matt SF — Mon, 31 Aug 2009 20:48:56 +0000

Tough break. I always start each month with my rewards checking debit card to get my 10 transactions recorded. I’ll take the high yield on my cash instead over the standard rewards cards any day.

If I have extra purchases for the remainder of the month, I switch to my Charles Schwab Cashback Visa that is 2% on all purchases. You’re required to open a brokerage account, but still, it’s free money. I’ve also heard positive things about the new Fidelity Visa.

By: Amber Weinberg

Amber Weinberg — Mon, 31 Aug 2009 20:40:14 +0000

You know, now i think about it, I think my USAA card has done the same thing (swapped rewards) I never use it anyways, so I didn’t care at the time. I would think, with the economy and the raising amount of savings and less consumer spending/credit spending they would try to offer you more to get you to spend more.

By: Lazy Man

Lazy Man — Mon, 31 Aug 2009 20:15:51 +0000

Thanks, it might very well still be my best option. I only meant to convey that it’s going to make me go and look at other options.

I had meant to mention that Chase’s autopay is available with all their cards (I believe). I use it on Chase business card that gives me 3% back on restaurants, home improvement stores, and office stores (at least for now).

By: kosmo @ The Casual Observer

kosmo @ The Casual Observer — Mon, 31 Aug 2009 20:13:09 +0000

Hmm. We have a Chase/Amoco card that is currently 5% back on gas. Hopefully that stays at 5%.

For everything else, we have an HSBC card that gives us 1% back on everything and 2% back on weekend purchases. So we tend to shift large purchases to the weekend. Be forewarned that that HSBC customer experience can be a bit surreal, though – http://www.observingcasually.com/why-i-hate-hsbc/

By: JRR

JRR — Mon, 31 Aug 2009 19:58:47 +0000

I have a Freedom card, and autopay *is* available with it. It yields 1% cash back on all purchases and 3% on select categories. It’s not as good as what you had, but maybe not as bad as you think.