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Thread: Chase Continental Debit card checking changes
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Old Mar 10, 2011 | 2:46 pm
  #55  
scotty00
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Originally Posted by GroundPointSeven
Very dissapointed in Chase. Had this card for 3 years now, it is a good way to accrue miles for people with not so hot credit. They blame the gov't yet there is a yearly fee for the card to begin with.
The annual fee is irrelevant. Have you not seen anything in the news about what the new interchange price-control would do to bank's revenue?? Try googling debit card interchange fees. For even a relatively small bank like TCF, they would lose up to $89M of the total $104M in interchange revenue it earned in 2010! That's an 86% decline! So since the brilliant Congress passed this law, then yes, Chase is correct to "blame the gov't."
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