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Use a Debit Card from Chase Bank? Prepare to Have it Declined.

Chase Bank is talking about significantly reining in debt card transaction limits to $50 or $100. The reason, so the can make more money.

Recent legislation capped the amount the bank can charge retailers per transaction for using a debit card. Currently it is 44 cents per debit card transaction but soon it will be limited to 12 cents.

I can only imagine that the per transaction limit of $50 is to force consumers to have to swipe their card four times for a $200 transaction and generate more fees for the bank.


Damon Day - Pro Debt Coach

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Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
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