What's so great about Chase?

[Aim_High]

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@Anonymous wrote:

As the biggest (or one of the biggest) banks in America they must be doing things more right than wrong.

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That's a great point.

Not that size is always better but it has it's advantages for some things.  It puts them in a better position to offer a wide range of competitive products, assets to support sizeable and stable lines of credit, and the ability to run a strong customer service department just due to the number of accounts they are servicing. 

Chase is, indeed, the largest U.S. bank.  Here is a list of current top ten banks with the assets they have under management, in billions of dollars. 

1	JPMorgan Chase	$2,737
2	Bank of America	$2,377
3	Citigroup	$1,958
4	Wells Fargo	$1,887
5	Goldman Sachs	$925
6	Morgan Stanley	$875
7	U.S. Bancorp	$475
8	TD Bank, N.A.	$384
9	PNC Financial Services	$392
10	Capital One	$373

[SOGGIE]

I agree with you AJC 100%. Soul Suckers!

[wasCB14]

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@Aim_High wrote:

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@Anonymous wrote:

As the biggest (or one of the biggest) banks in America they must be doing things more right than wrong.

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That's a great point.

Not that size is always better but it has it's advantages for some things.  It puts them in a better position to offer a wide range of competitive products, assets to support sizeable and stable lines of credit, and the ability to run a strong customer service department just due to the number of accounts they are servicing. 

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Size also puts them in a good position to get away with a slap on the wrist from regulators for committing mortgage fraud and turning a blind eye to Madoff.

[Aim_High]

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@wasCB14 wrote:

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@Aim_High wrote:

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@Anonymous wrote:

As the biggest (or one of the biggest) banks in America they must be doing things more right than wrong.

---

That's a great point.

Not that size is always better

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Size also puts them in a good position to get away with a slap on the wrist from regulators for committing mortgage fraud and turning a blind eye to Madoff.

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True. As I said, size isn't always better in every way. 

I won't defend Chase Bank.

The thread is just about what we like about Chase,

not what is wrong with them or big banking in America. 

Perhaps another thread is in order for this topic. 

There is certainly plenty to be said about it. 

But if this is bothersome, why do you do still do business with them? 

[wasCB14]

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@Aim_High wrote:

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@wasCB14 wrote:

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@Aim_High wrote:

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@Anonymous wrote:

As the biggest (or one of the biggest) banks in America they must be doing things more right than wrong.

---

That's a great point.

Not that size is always better

---

Size also puts them in a good position to get away with a slap on the wrist from regulators for committing mortgage fraud and turning a blind eye to Madoff.

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True. As I said, size isn't always better in every way. 

I won't defend Chase Bank.

The thread is just about what we like about Chase,

not what is wrong with them or big banking in America. 

Perhaps another thread is in order for this topic. 

There is certainly plenty to be said about it. 

But if this is bothersome, why do you do still do business with them? 

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I like the travel rewards and protections. With bonuses, optimized spend, and occasional 1.5 cpp "travel cash" redemptions...I doubt they actually make money from me as a CC customer, though.

I'm more generally pointing out that the "too big to fail" problem is still very much with us.

[galahad15]

At one point in time (way back), Chase used to actually be my favorite cc lender, since back in the late 90s - early 2000s when they were still Chase Manhattan Bank, I had a variable-rate card with them that had a go-to rate of Prime + 1.65%.  Fast-forward to today where they have extreme interest rates anywhere from 17% - 25%+ V, plus excessive or exorbitant AFs, and in today's environment, I will opt out of doing out of doing any business with them entirely, at least with regard to their credit cards.   I liked the Chase from yesteryear, but really have no interest in any of the credit card products that they offer today.

[Shadowfactor]

it’s marketing team from what I can tell.

If you’re a Hyatt fan it’s a great card and the only advantage IMO. Some people claim SWA but i don’t know if you can call Southwest an advantage

[Anonymous]

the only good cards chase has is the freedom card with the 5% rotating categories exactly like a discover card, and their card for the discount on amazon and wholefoods market. honorable mention for the aarp card, but thats it. their other cards don't look so great. why exactly would you want to pay a $500 fee on their other cards?

this year it looks like the categories of the freedom and discover card have 100% overlap. if they keep this up there's no benefit to having their card at all. just get a discover card.

but the main thing with chase are their risk aversion strategies that can screw you over bad. they can trash your whole credit report in a single day even if you did nothing wrong.

[Credit_hawk]

I have no beef with any major creditor. I have most of the major ones. I never even cared to apply for Barclays because I see how they treat folks. So I suppose I don’t have a high view of them. Other than that, I take issue with Cap One for never allowing you to lower your APR permanently. Chase has always been good to me. They gave me my biggest limits at the time (2015) in the first shot but now they look puny and haven’t grown with me. Actually, I can list one gripe! In late 2016, I called them to raise the limit on my CSP that I had been putting a lot of vacations on. They pulled my EX and TU 3 times combined! Twice on EX and once on TU and still denied me 😂

[longtimelurker]

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@Anonymous wrote:

the only good cards chase has is the freedom card with the 5% rotating categories exactly like a discover card, and their card for the discount on amazon and wholefoods market. honorable mention for the aarp card, but thats it. their other cards don't look so great. why exactly would you want to pay a $500 fee on their other cards?

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I assume that that is rhetorical, but...!   You would pay the fee in the same circumstances that you would pay the fee for any other AF card: when the benefits (hopefully far) outweigh the cost.   While this is particularly easy in the first year (e.g. when the CSR had a 100K UR signup against the net fee of $150) people who get the card, for the right reason, will be net positive year after year.  In other words, it makes fine financial sense to pay the fee.

Now if you want to get the card just because its FoTM, or looks cool, or its metal, and you don't understand the reward structure or it doesn't meet your spending patterns, well, then yes, you really shouldn't pay the fee!