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.

Steve Rhode Debt Coach and Author

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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