I dunno. When I was with Chase I always had the feeling of being a very valued number.

I closed that account down when Chase started adding in new fees. My new bank is very small and, thus far, thinks of me as a person.

It's not crap, they want to make money, and the government is cutting off one of their biggest revenue streams. Many companies would probably do the same thing if they ran a business and the government cut off a money making program.

The fee cap that caused them to end these reward programs doesn't apply to smaller banks. You should be complaining to the geniuses who wrote this law without thinking about the consequences it would have for consumers.

Chase needs the money, because their mission is to make as much of it as possible.

Yes, and the cost of almost everything there is higher.

Thanks for the info and in-depth research, Happy. I have both accounts, with a $200 DD to the personal, and I try to do the 5 swipes each month. Got my accounts in May 2010.

Glad to know it should be staying the same.

For those of you with CO debit cards, I received this today. I inquired when I will stop earning CO miles on my preferred debit card.

Dear docr775,

Thank you for contacting the Internet Service Center.

We apologize for the inconvenience you are experiencing
right now with regards to your Continental Airlines debit
card rewards.

Due to the overwhelming response to Chase Online, we are
experiencing an increase in the volume of e-mail messages
and, therefore, a temporary delay in responding. We
appreciate your patience and apologize for any
inconvenience this may cause.

In line with your inquiry, we reviewed your account ending
in xxxx and our records indicate that you will continue to
earn rewards until July 2011.

If you require further assistance, please e-mail us via
the Secure Message Center or contact Chase By Phone at
1-800-935-9935
Thank you,


Modesto Torrado
Internet Service Center

If anyone still is in doubt, here is the secured email response
 

So I sent a secured email to inquire the same ...

The first 2 responses were full of inaccurate information. I told the 2nd replier to go up to the manager level to find out ONCE and for all, because their replies were total contraction with the personal banker's and the phone rep's information.

The 3rd reply finally came, and basically they explained why they have missed the correct answer, and blah blah blah... Oh, they only replied my account, but haven't replied to husband's account... though I guess having ONE written reply finally bears correct info is good enough, I am not going to follow up on husband's account..

Here it is: Underlining and Bolding of course are mine.

Date: 02-07-2011 22:01:21
From: Chase Online
Subject: Re: Account Inquiry
Message:
Dear Happy,

Thank you for contacting the Internet Service Center.

I'm sorry for all of the confusion this situation has
caused. I've reviewed your original message, and our
response to it. From what I read, it appears our
representative only stated that the general requirements
for Chase Premier Checking will remain the same, which is
correct; however, the general requirements do not include
a statement about the Business to Personal connection,
which is what your personal banker is referring to. That
requirement is also remaining the same.

Unfortunately, the second representative took your
question to mean that you were using your personal Premier
Checking account to waive the monthly service fee on your
BusinessClassic Checking account, which is possible to do.
Because of that, she said you must meet the regular
Premier Checking requirements while the BusinessClassic
Checking service fee would automatically be waived.

To get to the heart of your question: Your BusinessClassic
Checking will continue to waive the monthly service fee on
your Premier Checking account. You will not need to worry
about the changes to our checking accounts, with regard to
this matter.

The e-mail representatives who respond to these questions
also take phone calls, so it's possible the phone
representative you spoke with was also an e-mail banker.
For the final decision on your accounts, I would always
recommend you use the information you've received from
your personal banker, as that person has more control over
your accounts and is readily familiar with your banking
relationship.

Again, I sincerely apologize for the confusion this has
caused and appreciate the time you've taken to message us.

If you have any questions or require further assistance,
please e-mail us via the Secure Message Center or contact
our Internet Service Center at 1-877-242-7372.

Thank you,


Eric xxxxx
Internet Service Center

Seems to me that the OP jumped to a conclusion and there's no major issues here.

ok, heres proof
 

Despite the in-depth research of Happy, and what others think, here in Ga. the rules have changed...here is some documentation and a disclaimer from chase website "Products and services described as well as associated fees, charges, interest rates and balance requirements may differ among different geographic locations. Not all products and services are offered at all locations."
so maybe in your state its different, but here in Ga. what my bankers told me is correct... I also dug up the PDF off of Chase's site, just to prove I haven't jumped to conclusions or hallucinated these changes...notice in the detailed requirements that 5 swipes of a debit card is no longer mentioned anywhere.....if this is happening in Ga., it's just a matter of time before they spread the new requirements and fees to the rest of the country. (just a prediction)

these are the new fees and requirements as of 2/6/2011 in GA.
https://apply.chase.com/oao/Disclosu...NGX0VORy5mZGY=

I also found info on the Business accounts in my zip 30041
https://www.chase.com/index.jsp?pg_n...nessselect_nib
notice that there is a way to keep it free without 5k balance, by linking it to a qualifying personal account, but the personal accounts are changing names and are new types that just started being offered...once again, nowhere does it mention 5 swipes as a way to remain fee free.
You are smart to call and check with your banker, and things may remain the same for your accounts (for the time being). I did not jump to conclusions or get bad info from my bankers....I would have rather kept the accounts open, because they never minded coin deposits, and they are the closest bank to my house.

Personally, I wouldn't be concerned unless the bank has given notice of changes. Banks cannot make changes without notifying the account holder, expecially when it concerns fees. If you haven't received notice, you aren't going to get terms of a new contract effected before the bank even brings it to your knowledge.

Dear docr775,

Thank you for contacting Chase.

We understand your concern regarding your rewards account.

Please be advised that as of February 6, 2011, Chase will
no longer offer Ultimate Rewards, RealCash, United,
Continental, or Disney rewards debit cards. However, this
does not impact existing debit reward card holders. You
will continue to earn rewards as usual.

In addition, Ultimate Rewards, RealCash, Disney,
Continental, and United customers will continue to earn
rewards until July 2011.

As of this time, we do not have an exact date, however,
you will be receiving a communication letter regarding
additional updates on our rewards program.

We hope that the above information has been helpful. We
value you as a customer and wish for your experience with
Chase to be one of satisfaction and ease.

If you require further assistance, please e-mail us via
the Secure Message Center or contact Chase By Phone at
1-800-935-9935.

Thank you,


Gina Jane M Saquing
Internet Service Center

want to get rid of my co pref. debit. what's the best way to cancel a chase checking? there is no chase in my area.

Online w/Secure Message. Send a message. You'll get a check in the mail if you have a balance.

Thank you, Phil.

just went on contienental site to check something under credit/debit and now chase will no longer give miles on debit cards

important information about changes to the Chase Continental Airlines® Debit Card program

Congress recently enacted a new law known as the Durbin Amendment that significantly impacts debit cards. As a result of this law, Chase will be changing the Chase Continental Airlines Debit Card program.

After July 12, 2011, cardholders will no longer earn Continental OnePass® miles when using the Chase Continental Airlines Debit Card. All OnePass miles you earn with your debit card until July 12, 2011 will be automatically deposited directly into your Continental OnePass account.

If you have questions about changes to the Chase Continental Airlines Debit Card program, please stop by any Chase branch or call us at 1-877-611-3062.


I actually like using the card for their shopping portal, crap guess 50000 sign up bonus here I come

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."

This might explain why:

JPMorgan reportedly weighs $50 debit card cap
By CNN
Posted today at 10:49 a.m.

Your debit card may soon be denied for purchases greater than $100 — or even as little as $50.

JPMorgan Chase, one of the nation’s largest banks, is considering capping debit card transactions at $50 or $100, according to a source with knowledge of the proposal.

Why? Because of interchange fees.
Right now, every time you swipe your debit card, your bank charges the retailer an average of 44 cents, which it shares with its partners. Those fees, however, add up to about $16 billion per year, according to 2009 data from the Federal Reserve.

But as part of the Wall Street reform passed last year, these fees are being slashed. The Fed is proposing rules that would cap interchange fees at 12 cents, starting in July.

That could cost Chase more than $1 billion a year. And Chase may not be alone. Other major issuers are also projecting huge losses from the interchange fee cap.

Joe Price, president of consumer banking for Bank of America, said in an e-mailed statement that the lower fee wouldn’t fairly compensate the bank for the infrastructure and services it provides to retailers.

And consumers would feel the pain when Bank of America is forced to recoup the difference by “increasing the cost of their everyday debit card transactions, limiting their payment choices and impacting industry innovation,” according to the e-mail.

Aside from considering a limit on transaction amounts, Chase is testing $3 monthly fees on debit cards and $15 fees on checking accounts in certain states. Additionally, the bank announced in November that it has stopped issuing debit rewards cards.

A Chase spokesman declined comment on this story.

The revenue banks get from interchange fees helps offset money lost from fraudulent transactions. So banks argue they won’t have the money to protect themselves against fraud with the Fed’s proposed cap in place.

“If banks cannot recapture their fraud-prevention costs, it is likely that a lower percentage of transactions at the point of sale would be approved,” Price said. “If the final rules that are issued in April look like the draft, there’s no question that it will impact how we and other issuers price deposit and payment services and what features and benefits are included.”

But a Bank of America spokesman declined to comment on whether the bank would cap debit card purchases at $50 or $100.

Representatives from Wells Fargo and HSBC declined to comment on their plans, while a spokeswoman from Citi said the bank isn’t making any changes at this time.

If a cap does make its way into accounts, consumers would be forced to write checks, withdraw cash from ATMs or put their spending on credit cards.

“The whole model on the debit card side is in flux because of Dodd-Frank,” said Brian Riley, senior research director at financial services consulting firm TowerGroup. “The unfortunate thing is that the people who will really get hurt on this are the people who need the most help.”

Many consumers with bad credit can’t qualify for credit cards — and when they do, it’s often with hefty rates and fees. Additionally, ATMs typically dole out only a limited amount of money at a time and checking accounts are being loaded with fees.

Yesterday, my nephew (born in Russia) commented about the banking industry in this county. He probably was speaking for many Russians who have, as he, emigrated to USA and, maybe more than natives, really notice some things different about this country from theirs.

"In Russia, the country owns the banks, in USA, the banks own the country."

(I laughed)

Chase has been a complete disappointment to me as compared to Wamu. Lost deposits, holds on semi-significant deposits that they even admitted to holding for a overly-prolonged period (and a complaint that they back-dated the funds available date to cover the error, subsequent responses from them addressing every issue BUT the one in the complaint), local branch that states a lost check may have been lost because I endorsed it with a red pen (true story).... just customer unfriendly all around....


...and a reminder that they will not close your account until all funds are transferred out and that takes a few days, plan ahead to avoid fees. I did it over the phone (on a Sunday) without issue, except the delay. Quick and easy.

Is Chase going to refund or partially refund the annual fee for the CO debit cards if they will stop earning miles in July?

I spoke to a Chase CSR this past week and she said that the annual fee will be prorated in July. She was a supervisor, so I am assuming what she told me was correct.

My anniversary is in 40 days, so plan to close my account before then.

I closed my CO debit card with Chase secure message with no problems, got $25 fee refunded.
I saw not point keeping it till July since I jumped on 50K CC offer, and debit card has no benefits over CC

For folks who would like to keep an account with Chase, you can convert your checking into a savings and avoid a fee is you keep $300 in it daily.

Is a pro-rated refund give if an account is closed before the annual fee is due? I have both the personal and business accounts.

From what I understand after my call,...come July when the program ends, annual card fees already paid will be prorated, thus a refund will be issued.

Obviously, if you close your account before your next annual fee, then you wouldn't be charged at all. No account, no fee.

Talking about pro-rated refund of the annual fee already paid. I opened the personal last summer and the business in the fall. If I close it now, will I get a pro-rated refund of the annual fees?

No offense, but maybe you should call Chase yourself. I've already twice explained, and now, doing it for the 3rd time.

Not to be rude, but this is a very simple situation to understand,...all comes down to common sense. If you think about it for 5 seconds, it's all rather clear.

1) If you close your accounts before the program changes on July 12, there is nothing to be pro-rated, obviously. Why would they refund anything BEFORE the terms change, since the program is still active?

2) If you don't close your accounts, and keep them open past July 12, then they will issue you a prorated refund, since the program you paid for would then be non-existent.

Obviously, in your case, the refund on the account you opened in the fall will be greater than the refund on the account you opened in the summer. Rough guess,...the fall account would receive 25% back, whereas the summer account would be very close to 0%.

Sorry, but if this still doesn't make sense, I suggest you call Chase directly.

I'm disappointed that my debit card will no longer be able to earn miles. I will be closing this account before July and probably switch to another mileage program with a debit card (likely US Air because the hub is where I live).

You'll probably have a hard time finding a debit card that offers miles, due to the new interchange rules.

Not entirely true. The pro-rated refund will be given in April; therefore you can close your account towards the end of April with no reprecussions.

Ok, good to know. But that's not what I was told over the phone.

Curious though, is this info based on a phone conversation, or is it up on the website now? Also curious of how they are going to send out these refunds if you close the account before the change,...by check? I'm sure many of these account holders will be getting back only a few dollars, some far less. A refund would be quick and easy for those that keep their accounts open after the change.

The letter I got from Chase said the checking must be open to get a refund as they will only deposit the refund in to your account.

It sounds as if you need to notify Chase in advance to schedule your closing, so your refund hits well before the account goes cold. Hmmm. Odd.

I received my pro-rated annual fee refund. Any point in keeping the Chase account? I have both the personal and business checking accounts. Has chase offered any bonuses for keeping accounts open? Will the terms be the same except no miles?

No T&Cs change so far, just that the CO debit cards no longer earn anything.

I am keeping both my accounts because my Chase Freedom is tied to the personal checking account thus offers a 10% bonus earning on each purchase as well as 10 pt bonus on each charge regardless the amount. So a $0.20 charge at Walgreen gives me 10 Ultimate award points... The business account statement comes in handy when proof of business is required for applying a business CC...

The only burden to me is to do the 5 non-pin debit card transaction each month. It is not a biggie. Yesterday morning I did all 5 on one go at Walgreen, took 3 minutes to buy 5 jelly boxes in 5 separate transactions at 0.20 each to take care the requirement for May.

I have only applied for one business card. How often is proof of business required? Any particular banks require this? (Citibank didn't ask it and was denied the Cap1 biz card). Am Ex need this?

What's the latest on Business Checking? Is five transactions required to waive the monthly fee? I plan on closing my personal account; does this affect the business account?

Yes 5 debit card transactions are grandfathered - it can be either PIN or non PIN but I always do it non PIN.

Dont think canceling the personal account would affect business account - it is the other way round - the business account carries the personal account, i.e. only need 5 debit card transactions on the business account to make both accounts free of monthly charge. Because of that I dont see any need to close the personal account, especially there would not be any similar promotion in the future thanks to the new laws.