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What's so great about Chase?

Dinosaur
Moderator Emeritus

Re: What's so great about Chase?

@UncleB... very useful review of Chase.

Over twenty years with Chase I find my needs register in at the low maintenance level. Have found the modern use of the Secured Message works with much success.

Their various rules with 5/24 etc are their rules. It seems every lender has some thing that could be a pain. So, you decide whether you go there or not. Example is Capital One's triple pull or Pen Feds six month new accounts hold or a bank that does not do ACHs rapidly (I stay away from the slow one's) or the redemption requirements of $25 or $50 for cash rewards (funny how people whine over the $25 or $50 cash redemptions yet love Costco's which is annually and so on). All of this is disclosed up front to the card applicant. As to points or cash, it depends on what the card holder needs. Not everyone has the need or the means to travel so good solid cash back is important. Again URs are great!

Choices and several posters have mentioned time and again some of the Forums in the www draw a more narrow market and the views and actions of the posters do not reflect the greater whole in the market place. That said, we need to decide what works for us and live with the rest or not!

Message 61 of 88
Aim_High
Senior Contributor

Re: What's so great about Chase?

After my earlier posting, I remembered a couple of other things I wanted to add to my remarks about what I like about Chase.

 

* Balance Transfers.  Many years ago I had a major career disruption among other things that led to my family racking up some large debts while trying to get by.  Chase was one of my banks which continued to offer me and/or my wife regular balance transfer offers at 0% or low APRs which helped us to eventually pay off the debts while minimizing potential interest charges and fees.  My paying off those debts may be one reason they are willing to lend me generous credit lines today.   Some banks are not so free with BT offers.

 

* Ability to Product Change and Ability to transfer lines of credit between accounts.  Some of the lenders I have worked with in the past were very inflexible when it came to either of these but Chase works with the customer to keep their cards most useful to them. 



Length of Credit > 35 years; Total Credit Limits > $500K
AoOA > 28 years (Jun 1993); AoYA (Aug 2020); Gardening since 08/15/20.
* Hover cursor over cards to see name & CL, or press & hold on mobile app.
Message 62 of 88
Aim_High
Senior Contributor

Re: What's so great about Chase?


@SEAlifer wrote:


I think it's HILARIOUS that they want me to put $25K in a Savings account with 0.01% APR for a $300 SUB. What's the point of even having Savings accounts with that low of interest? And if I had $25K to just put away for 3 months, I don't think I'd be that excited about $300. Just my 2 cents.


The interest rates the big banks pay on savings, checking, CDs, and what they consider "money markets" are truly absurd and noncompetitive compared to credit unions and online banks.  Unfortunately, many consumers don't know any better and just accept these rates without question.

 

I would not put $25K in an account paying .01% interest for the long term.  But over 90 days, that $300 on $25K deposit is equivalent to an APR of over 4.75%!  That is much better than you can get on any money market or CD account.  If you had the money, you could park it there just for the SUB and then close the account.



Length of Credit > 35 years; Total Credit Limits > $500K
AoOA > 28 years (Jun 1993); AoYA (Aug 2020); Gardening since 08/15/20.
* Hover cursor over cards to see name & CL, or press & hold on mobile app.
Message 63 of 88
Medic981
Valued Contributor

Re: What's so great about Chase?


@AverageJoesCredit wrote:

@Saeren wrote:
Naughty AJC. I never thought you would be the one to start one of these threads that go nowhere good 🤣

I don’t have a very high opinion of Chase from what I’ve seen so I’ll stay outta this one.

Haha, no this  will have some good. Perhaps finally we can  see why so many chase the 5/24 dreamSmiley Wink


To Dream the Impossible Dream...

















Your FICO credit scores are not just numbers, it’s a skill.

Message 64 of 88
Medic981
Valued Contributor

Re: What's so great about Chase?


@Brian_Earl_Spilner wrote:

@Winesnoblv wrote:

As with any bank, it will depend on your ability to acquire what credit you want and your overall relationship.  Personally, I haven't wanted to deal with Chase, but decided to apply for the FU last year.  I did it in a branch and still had issues with who I was.  After about a week, the banker contacted me with an approval with a sl of $6,400.  Have not had a cli in over a year and a half.  My opinion of Chase was very low.

A few weeks ago I logged in to pay and had a preapproved offer for the CSP.  I was lol/24 but applied anyway.  Received the need more time message.  Called the next day and was asked a security question and approved with a sl of $11,900.  Since I had been approved for the AMEX Delta Platinum (a sp that had not yet reported) and TD Ameritrade Visa (hp, but not yet reported) prior to the CSP, but within the same month, I am bracing for AA from Chase.  If this were to happen, my opinion of Chase would be were it was before I acquired my FU.  


This just goes back to what I said earlier. Experiences here skew views. You knew you were way over 5/24. You knew you had two approvals in the last 30 days that weren't reporting yet. Yet, you applied for the CSP and if they close the account for credit seeking behavior, your opinion of them is going to drop. If there's AA, you brought it on yourself. It shouldn't reflect poorly on them.


The same thought was going through my mind as well.

















Your FICO credit scores are not just numbers, it’s a skill.

Message 65 of 88
CreditInspired
Super Contributor

Re: What's so great about Chase?


@Medic981 wrote:

@Brian_Earl_Spilner wrote:

@Winesnoblv wrote:

As with any bank, it will depend on your ability to acquire what credit you want and your overall relationship.  Personally, I haven't wanted to deal with Chase, but decided to apply for the FU last year.  I did it in a branch and still had issues with who I was.  After about a week, the banker contacted me with an approval with a sl of $6,400.  Have not had a cli in over a year and a half.  My opinion of Chase was very low.

A few weeks ago I logged in to pay and had a preapproved offer for the CSP.  I was lol/24 but applied anyway.  Received the need more time message.  Called the next day and was asked a security question and approved with a sl of $11,900.  Since I had been approved for the AMEX Delta Platinum (a sp that had not yet reported) and TD Ameritrade Visa (hp, but not yet reported) prior to the CSP, but within the same month, I am bracing for AA from Chase.  If this were to happen, my opinion of Chase would be were it was before I acquired my FU.  


This just goes back to what I said earlier. Experiences here skew views. You knew you were way over 5/24. You knew you had two approvals in the last 30 days that weren't reporting yet. Yet, you applied for the CSP and if they close the account for credit seeking behavior, your opinion of them is going to drop. If there's AA, you brought it on yourself. It shouldn't reflect poorly on them.


The same thought was going through my mind as well.


And mine as well. It’s really unbelievable. 


DEC 2019: EX 816, TU 820, EQ 810
DEC 2018: EX 777, TU 783, EQ 799

|| AmX Cash Magnet $40.5K || NFCU CashRewards $30K || Discover IT $24.7K || Macy's $20K || NFCU CLOC $15K || CitiCostco $12.7K || NFCU Platinum $12.5K || Apple Card $6.5K ||
Message 66 of 88
pinkandgrey
Community Leader
Senior Contributor

Re: What's so great about Chase?

I think people like the prestige of Chase lol. I had a Chase card for awhile. It was fine, and customer service was fine, but it wasn’t anything special. 

Discover It: 19.7k
Amex ED: 18k
Citi DC: 7.7k
Fidelity Visa: 2k
Apple Card: 1.5k
Message 67 of 88
AverageJoesCredit
Mega Contributor

Re: What's so great about Chase?


@SEAlifer wrote:

@AverageJoesCredit wrote:
For the fico of me, im trying to understand whats so great about Chase? 5/24 , UR's, and wants your soul, FEED ME SEYMOUR! Smiley Wink

I mean, I like the color blue. The fact that their banks are slowly taking over my city is aesthetically pleasing.


Lol👍

 

Now, how 'bout that Capitol One?😄

 

🤦‍♂️

Message 68 of 88
redpat
Senior Contributor

Re: What's so great about Chase?


@Medic981 wrote:

@AverageJoesCredit wrote:

@Saeren wrote:
Naughty AJC. I never thought you would be the one to start one of these threads that go nowhere good 🤣

I don’t have a very high opinion of Chase from what I’ve seen so I’ll stay outta this one.

Haha, no this  will have some good. Perhaps finally we can  see why so many chase the 5/24 dreamSmiley Wink


To Dream the Impossible Dream...


Has to be the largest sig I’ve ever seen.



Personal Cards: Amex Plat | Amex Delta Res | Amex Hilton | CSR | Citi AA Exec Business Cards: Ink+ | Amex BGR
Message 69 of 88
Anonymous
Not applicable

Re: What's so great about Chase?

Add me to the list of "Chase fans".  LOL.  The name does hold some prestige, as do at least some of their products... but that's not why I have 2 Chase cards.

 

My first was the Amazon Prime Visa, early last year.  I chose this card not because it was issued by Chase, but because I shop on Amazon a lot, have Prime, and like the idea of 5% CB on these purchases.  I went with the Visa instead of the store card since I didn't want to take a HP for a card I can't use elsewhere. 

 

Since then I've been happy with them.  They respond to secure messages promptly, I've never had to call, their website works well, and (unlike BoFA who's the only other issuer I currently have cards with), their text notifications go out as soon as the card is swiped, which is good since if fraud happens, I'll know right away.

 

When I decided to get a "more-than-1%-CB-for-everything card", I debated between Citi DC and Chase FU... and went with the CFU, mainly because of the 3% intro bonus period, plus unlike the DC, it offers 0% on purchases and BTs for 15 months (DC only for BTs).  Once you have a card with them it's easy to apply for another online, takes seconds since you only have to enter a couple pieces of information.  Another thing that attracted me to the CFU is the UR points, which I could use for travel in the future if I get a CSP/CSR down the road.

 

Now they do have their quirks, especially their 5/24 rule, though that hasn't been a problem for me, as I rarely app for new cards.  They can be a bit jittery if you have too many inquries or new accounts, but once again, not a problem for me... but for a churner or app addict I can see why this would be a problem for them.  They also make it easy to move limits from one card to another or to product change cards which is nice too.  HPs for CLIs are an annoyance as well, and there's no "luv button" online, you have to call, but they are usually pretty generous with SLs if your profile allows.

 

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

 

Message 70 of 88
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