Originally Posted by
garykung
Now I understand. But Chase would be anti-intuitive if Chase do this. Specifically, what exactly Chase (as well as others) wants is to manage your money. That 1% is guaranteed income for Chase. If you gain on the market, Chase earns more and you are happy (because the gain pays for the fee). If you lose, you still have to pay that fee. Also - Chase can also earn a commission as well.
Why would Chase help you to recover from credit reward?
Are you saying that CPC has a 1% account fee?
I pay no fees for my Chase private client account. Then again, I get nothing for a substantial account with them either. (although I will admit that my broker managed to steer me and my money away from a unilaterally Chase imposed "savings account " that paid a glorious 0.01% )
Apparently, the breakpoint for Chase and the next level above CPC is 25MM and then you are in another elite level. I didn't bother asking what it was called.
