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Chase no longer will allow CCs to be used for OD Protection

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gdale6
Moderator Emeritus

Chase no longer will allow CCs to be used for OD Protection

Received this SM from Chase today on my AARP card. I have no banking relationship with them, never liked them for banking and this just continues to reaffirm to me that they are not out to please their customers. I wouldnt have a card from them if it wasnt for the signup bonus they provide. I may cancel the AARP really dont need it with the Cap-1 Sony giving 3% on restaurants.

 

Dear Customer,

 

We appreciate your business and want you to know about a change that might affect you. Starting August 20, 2016, your Cardmember Agreement will change and we will no longer allow credit cards to provide Overdraft Protection for Chase checking accounts.

If you have an Overdraft Advance balance, the related annual percentage rates applicable to your account will stay in effect until that balance is paid in full.

A Chase savings account can provide Overdraft Protection to a Chase checking account when the accounts are linked for that purpose. To learn more,click here.

If you have questions, please call the number on the back of your card.

Thank you for being our customer.

 

Chase Card Services

Message 1 of 22
21 REPLIES 21
Anonymous
Not applicable

Re: Chase no longer will allow CCs to be used for OD Protection

Got the same message but I don't bank with them.  I was always on the fence about that.   I kind of knew that the  500.00 reward was for a reason!  I'm sticking with BOA & Wells.  I have that overdraft protection on my BOA accounts now.  If I'm really busy, I don't need to worry about anything.  They will just take it out of another account to fund my main checking.  I would not want a cc for overdraft protection.  Seems the banks are tightening up more and more.

Message 2 of 22
baller4life
Super Contributor

Re: Chase no longer will allow CCs to be used for OD Protection

Guess they sent it to all cc holders. I received it too and I don't bank with them either. I'm team CU for banking! Smiley Wink
Message 3 of 22
9CLINE
Valued Contributor

Re: Chase no longer will allow CCs to be used for OD Protection

Same here,, didn't apply to me as I don't do checking or savings with them just have CC's... Guess they were just letting all customers know....
I would think if one was using their cc as a backup for overdraft then this would be need to know info..they did say you can use the savings acct. for it though.. So those affected are made aware..

Message 4 of 22
Anonymous
Not applicable

Re: Chase no longer will allow CCs to be used for OD Protection

On my way there but it's taking a little time Baller!  Smiley Wink  And thanks for all of your help with those CU's.  Woman Very Happy

Message 5 of 22
Anonymous
Not applicable

Re: Chase no longer will allow CCs to be used for OD Protection

And you know they will charge you for using your savings account.  Smiley Wink

Message 6 of 22
Anonymous
Not applicable

Re: Chase no longer will allow CCs to be used for OD Protection

I do bank with them.  And I don't know what I'll do about this.  I've never used the overdraft protecton with Chase, but it was nice to know it was there.  NFCU gave me that nice little CLOC and is looking really tempting now for my main checking. 

Message 7 of 22
baller4life
Super Contributor

Re: Chase no longer will allow CCs to be used for OD Protection


@Anonymous wrote:

I do bank with them.  And I don't know what I'll do about this.  I've never used the overdraft protecton with Chase, but it was nice to know it was there.  NFCU gave me that nice little CLOC and is looking really tempting now for my main checking. 


And Navy Fed's CLOC works like a charm! Very convenient!

Message 8 of 22
irunfromcredit
Frequent Contributor

Re: Chase no longer will allow CCs to be used for OD Protection

I got this email and bank with Chase. I didn't even know that CC's could be used for overdraft protection. **knock on wood, ** I never had a need for overdraft protection 😄

Scores 8/25/2017~ TU: 753 / EXP: 742 / EQ: 726
Goal: 770's or higher by end of 2017
Message 9 of 22
Anonymous
Not applicable

Re: Chase no longer will allow CCs to be used for OD Protection

FIENDS!!!

Message 10 of 22
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