Boycott Chase Bank

[scottheisel]

I've been using Discover and love it. Rewards are great. I had someone steal my CC number and they dominated it no problem. I've heard that if you fall behind, their late fees are nuts, but I've stayed on top of my credit and they repeatedly bump me up and give me other perks.

The best part about Discover (besides that new spending-graph thing they launched online -- that thing is awesome, and totally changed my spending habits for the better) is the cash back program. Fuck airline miles, fuck "points," just give me back a percentage of every transaction I make and I will be happy. Plus, when you go to cash them in, they have hundreds of merchants you can apply your cash to instead and get more back (like, if you drop $20 on a gift card for Omaha Steaks, they'll give you a $30 gift card).

Plus, no annual fee.

[rtw88]

I've had nothing but good experiences with Bank of America. I know they're a big corporate fuck off who we will probably find out has scammed it's customers out of billions of dollars, but so far they've been pleasant to me. Then again, I've never had any late payments or over drafts, but the few times I've dealt with them when I lost my card or opened up a new account, I haven't had any problems. Plus they have ATMs everywhere, including all Publix's and on some busier foot traffic areas on the street.

[matt]

As a banking institution your business model shouldn't be fee-based. It should be service based.

as nice as it is to want that its naive to think thats going to happen or change.

i used to work in a call center and take these calls everyday. in the back of my mind id be thinking "i can't believe what im spewing out, this is such bullshit." i can't begin to tell you how many times i wanted to tell people "hey you should find another bank." fair and just has never been the game. fees and add on services are the name of the game.

for fee reversals we were only allowed to give out something like less than 10% of reversals based on those types of calls. if you reversed too much it could hurt the employee's incentive plan and we know who those people are looking out for. the finance charge was something i remember hearing under no circumstances to reverse unless it was a bank error. i did so once to what i determined was a "valued customer" and i ended up getting reamed by my jerk of a boss about how i was losing money for the bank.

moral of the story, banks are fucked and want your money.

this isn't anything new

[xadamhudsonx]

Matt, you may be right but its really not the point. A fee is not a purchase, it shouldn't be subject to finance charges and frankly, when you've made 86 out of 88 payments perfectly on time and in full you should get a cookie, i.e. a reversal of $11.82, regardless of terms and conditions. I believe this not simply out of principal but because Wells Fargo has reversed for me at least 5 egregious bounced check fees out of good will. I expect a company I do a ton of business with to get me some slack every once in a while. Fuck expect I demand. And when you're payment is a day late, a single solitary day one time in 4 years, I demand a company understand weird things happen.

As a banking institution your business model shouldn't be fee-based. It should be service based.

a credit card company is a business, and like any business, is designed to make money. they make a little bit of money off you in interchange fees (literally pennies on the dollar based on what you spend), but they make the bulk of their money in fees. Customers are given the chance to avoid these fees, and when they don't, they get charged.

Your statement of I expect to get a cookie because I've been loyal is a nice sentiment, but not practical. Should I expect Virgil to give me a free record if I called him and demanded it because I've bought at least one record if not multiple records every month for the last three years? He'd laugh at me. Any company would laugh at you. So why should a bank be held to a different standard?

Without a bank error causing that payment to be received late, the bank doesn't owe you anything and the fees charged are valid.

[xadamhudsonx]

I've had nothing but good experiences with Bank of America. I know they're a big corporate fuck off who we will probably find out has scammed it's customers out of billions of dollars, but so far they've been pleasant to me. Then again, I've never had any late payments or over drafts, but the few times I've dealt with them when I lost my card or opened up a new account, I haven't had any problems. Plus they have ATMs everywhere, including all Publix's and on some busier foot traffic areas on the street.

+1 to Ryan by the way. (PS: if you have issues in the future, hit me up.)

[sgoodcore]

The attitude shouldn't be apathy it should be outrage. Sitting back and letting it happen with a laissez faire attitude toward it all is wrong. You want it change, you know it should change, so you should push for it to change.

[Duff]

banks don't care about people who pay their entire balance every month on time because they aren't making any money off them. the same goes for credit cards. they prey on the people who consistently miss payments and those who choose to just pay the minimum instead of covering their entire balance.

my girl friend rarely got pre-approved credit cards offers in the mail when her credit was good. over the past year she slowly ruined her credit, and now she gets dozens of credit card applications in the mail.

[sgoodcore]

Your statement of I expect to get a cookie because I've been loyal is a nice sentiment, but not practical. Should I expect Virgil to give me a free record if I called him and demanded it because I've bought at least one record if not multiple records every month for the last three years? He'd laugh at me. Any company would laugh at you. So why should a bank be held to a different standard?

That comparison is apples to beef. I pay my bills and do what credit companies would have you believe they want you to do. I expect they understand I'm not perfect, as no one is, and I made a mistake once. I should be able to ask nicely for a reversal of the fee and get a human understanding opinion. I think that's what we should expect of companies we work with. If you want to be some crusty, cynical bastard feel free. I'll take a pass on it.

Oh and I don't rely on banks to change. I rely on the part I control, the government, to make them change. That's why I loved what they did with the credit reform act. I just wish they enacted immediately as opposed to giving a cooling off period.

banks don't care about people who pay their entire balance every month on time because they aren't making any money off them. the same goes for credit cards. they prey on the people who consistently miss payments and those who choose to just pay the minimum instead of covering their entire balance.

my girl friend rarely got pre-approved credit cards offers in the mail when her credit was good. over the past year she slowly ruined her credit, and now she gets dozens of credit card applications in the mail.

AWESOME! Lets all act like this whole bank disaster never happened!

[jimmythescumbag]

As a banking institution your business model shouldn't be fee-based. It should be service based.

I am with you on this...too bad the banking industry sucks big ones and could care less about service. All they care about is taking as much of your money as possible. Fucking sucks....

[Duff]

the banks are also one of the biggest reasons our economy is in the shitter right now.

[jimmythescumbag]

The attitude shouldn't be apathy it should be outrage. Sitting back and letting it happen with a laissez faire attitude toward it all is wrong. You want it change, you know it should change, so you should push for it to change.

+1

[coldsnap]

banks are controlling politics. as they control us. so they obviously want your money and that is nothing new, so banks are pretty much controlling our planet. fuck the economy, seriously.

[xadamhudsonx]

Your statement of I expect to get a cookie because I've been loyal is a nice sentiment, but not practical. Should I expect Virgil to give me a free record if I called him and demanded it because I've bought at least one record if not multiple records every month for the last three years? He'd laugh at me. Any company would laugh at you. So why should a bank be held to a different standard?

That comparison is apples to beef. I pay my bills and do what credit companies would have you believe they want you to do. I expect they understand I'm not perfect, as no one is, and I made a mistake once. I should be able to ask nicely for a reversal of the fee and get a human understanding opinion. I think that's what we should expect of companies we work with. If you want to be some crusty, cynical bastard feel free. I'll take a pass on it.

Oh and I don't rely on banks to change. I rely on the part I control, the government, to make them change. That's why I loved what they did with the credit reform act. I just wish they enacted immediately as opposed to giving a cooling off period.

banks don't care about people who pay their entire balance every month on time because they aren't making any money off them. the same goes for credit cards. they prey on the people who consistently miss payments and those who choose to just pay the minimum instead of covering their entire balance.

my girl friend rarely got pre-approved credit cards offers in the mail when her credit was good. over the past year she slowly ruined her credit, and now she gets dozens of credit card applications in the mail.

AWESOME! Lets all act like this whole bank disaster never happened!

I don’t understand how you can hold the banks accountable for your inability to make your payment on time. And if you've had the card as long as you've had it, and know exactly when the payment is due and what options you have to make that payment, then you're being late and receiving a late fee and retail residual finance charges on the balance that carried over that cycle are your responsibility. The bank doesn’t owe you something because you're a customer of theirs.

and I'm not saying this because I have perfect credit (I don’t) or because I get special treatment because I work for a bank (I have the same terms as everyone else) I'm saying it because it's naive and whiney to expect the bank to reverse fees you were clearly aware of and just don’t feel you should have to pay.

There are no other companies required to apply that same kind of logic to their business model.

[sgoodcore]

Alright well then I'll say again you're wrong. Banks want you to use their credit cards, invest with them, and give them your money. Its how they make loans, back debts, and allow people to buy things they cannot afford. Its not whiney to expect the bank to show loyalty to customers. I'm sorry if you think it is, I believe you're wrong. I'm not justifying to you why I believe what I believe. I don't give a fuck if you agree or not. I would estimate more people agree with me than disagree in so far as, when a special circumstance like one late payment of a single day over the course of seven years happens a bank should give you the benefit of the doubt.

To be honest, if you don't think a bank should give its customers the benefit of the doubt then you're wrong and you're cynical. You're also the naive one thinking people are perfect. Frankly, I do have pretty damn good credit, or did before I got the house I own now, and believe that's an even better reason for a bank to give me the benefit of the doubt. Because they make money on people like me knowing they have good credit and taking out loans. They also make money on me by loaning out the money I deposit with them to others. So to say a bank only makes pennies on each transaction, well that's just not true.

[jimmythescumbag]

Alright well then I'll say again you're wrong. Banks want you to use their credit cards, invest with them, and give them your money. Its how they make loans, back debts, and allow people to buy things they cannot afford. Its not whiney to expect the bank to show loyalty to customers. I'm sorry if you think it is, I believe you're wrong. I'm not justifying to you why I believe what I believe. I don't give a fuck if you agree or not. I would estimate more people agree with me than disagree in so far as, when a special circumstance like one late payment of a single day over the course of seven years happens a bank should give you the benefit of the doubt.

To be honest, if you don't think a bank should give its customers the benefit of the doubt then you're wrong and you're cynical. You're also the naive one thinking people are perfect. Frankly, I do have pretty damn good credit, or did before I got the house I own now, and believe that's an even better reason for a bank to give me the benefit of the doubt. Because they make money on people like me knowing they have good credit and taking out loans. They also make money on me by loaning out the money I deposit with them to others. So to say a bank only makes pennies on each transaction, well that's just not true.

Couldn't have said it better myself.

[xadamhudsonx]

Alright well then I'll say again you're wrong. Banks want you to use their credit cards, invest with them, and give them your money. Its how they make loans, back debts, and allow people to buy things they cannot afford. Its not whiney to expect the bank to show loyalty to customers. I'm sorry if you think it is, I believe you're wrong. I'm not justifying to you why I believe what I believe. I don't give a fuck if you agree or not. I would estimate more people agree with me than disagree in so far as, when a special circumstance like one late payment of a single day over the course of seven years happens a bank should give you the benefit of the doubt.

To be honest, if you don't think a bank should give its customers the benefit of the doubt then you're wrong and you're cynical. You're also the naive one thinking people are perfect. Frankly, I do have pretty damn good credit, or did before I got the house I own now, and believe that's an even better reason for a bank to give me the benefit of the doubt. Because they make money on people like me knowing they have good credit and taking out loans. They also make money on me by loaning out the money I deposit with them to others. So to say a bank only makes pennies on each transaction, well that's just not true.

Except that it is true. The money the makes on interchange fees on transactions (that's the purchases you are making using THE BANKS money and paying them back at a later time) are minimal. Literally pennies on the dollar.

The money they make on interest by investing your money and loaning it out to others is different. You were not whining about the money you've invested in chase. In fact, you said you have a wells Fargo (or wamu, I don’t remember) account. Chase isn’t making that money.

Again, you're argument that the bank owes you anything is ludicrous. I understand you're angry that you were charged fees when the bank has so much money blah blah blah, but you were aware of the late fee repercussions too. It's not cynical. It's reality.

[lokithelion]

I've had nothing but good experiences with Bank of America. I know they're a big corporate fuck off who we will probably find out has scammed it's customers out of billions of dollars, but so far they've been pleasant to me. Then again, I've never had any late payments or over drafts, but the few times I've dealt with them when I lost my card or opened up a new account, I haven't had any problems. Plus they have ATMs everywhere, including all Publix's and on some busier foot traffic areas on the street.

+1 to Ryan by the way. (PS: if you have issues in the future, hit me up.)

Adam can seem a little cold blooded sometimes about banking stuff but dude is far from cynical. He's helped me out personally with my account before when the bank fucked up and wouldn't help. He's a cold realist sometimes but I can back the dude.

[teganandsara]

Yeah dude quit winning if you had decided to pay your bill a day earlier you would have nothing to complain about instead you left it to the last minute and decided to take a chance. I made a mistake with my banking as well and got charged I did not whine about it and protest the bank because I knew it was my fault.

[murakami]

I hate chase because of how they were essentially given WAMU for basically nothing.

[sgoodcore]

Yeah dude quit winning if you had decided to pay your bill a day earlier you would have nothing to complain about instead you left it to the last minute and decided to take a chance. I made a mistake with my banking as well and got charged I did not whine about it and protest the bank because I knew it was my fault.

Actually, Wells Fargo made the mistake. I was informed it would be two business days, it took three. I accepted that as my mistake and was willing to accept either a late fee or a finance charge but not both. Further the issue is they now charged me interest on their own fee, again something I find to be unacceptable.

How's your seat in your ivory tower by the way?

Alright well then I'll say again you're wrong. Banks want you to use their credit cards, invest with them, and give them your money. Its how they make loans, back debts, and allow people to buy things they cannot afford. Its not whiney to expect the bank to show loyalty to customers. I'm sorry if you think it is, I believe you're wrong. I'm not justifying to you why I believe what I believe. I don't give a fuck if you agree or not. I would estimate more people agree with me than disagree in so far as, when a special circumstance like one late payment of a single day over the course of seven years happens a bank should give you the benefit of the doubt.

To be honest, if you don't think a bank should give its customers the benefit of the doubt then you're wrong and you're cynical. You're also the naive one thinking people are perfect. Frankly, I do have pretty damn good credit, or did before I got the house I own now, and believe that's an even better reason for a bank to give me the benefit of the doubt. Because they make money on people like me knowing they have good credit and taking out loans. They also make money on me by loaning out the money I deposit with them to others. So to say a bank only makes pennies on each transaction, well that's just not true.

Except that it is true. The money the makes on interchange fees on transactions (that's the purchases you are making using THE BANKS money and paying them back at a later time) are minimal. Literally pennies on the dollar.

The money they make on interest by investing your money and loaning it out to others is different. You were not whining about the money you've invested in chase. In fact, you said you have a wells Fargo (or wamu, I don’t remember) account. Chase isn’t making that money.

Again, you're argument that the bank owes you anything is ludicrous. I understand you're angry that you were charged fees when the bank has so much money blah blah blah, but you were aware of the late fee repercussions too. It's not cynical. It's reality.

Yes, yes you are correct I did misspeak. I meant THE ONLY money the banks makes off me is not pennies on transactions. I worded that poorly. However, my point was I closed accounts with Chase specifically over this issue and I urge people to do the same. Chase cost themselves the money I had with them over this and I daresay the money I had with them would have garnered far more than their fees.

You can prattle on with your company line but I still say you're wrong. The banks doing this fee manipulation only cost themselves money and its horrible customer service. I suppose if you'd rather pin that customer service on me and ask me to be perfect than fine. Be that as it may I think that take on it is ludicrous more than my expectation of assistance in a case happening once in many, many years.

[jimmythescumbag]

Yeah dude quit winning if you had decided to pay your bill a day earlier you would have nothing to complain about instead you left it to the last minute and decided to take a chance. I made a mistake with my banking as well and got charged I did not whine about it and protest the bank because I knew it was my fault.

The man wanted to vent, so let him vent. Yeah, it was his fault, but that doesn't mean he is not allowed to express how he feels...much like you did with your above post. :

[matt]

true story, adam is cold blooded

checkout this picture of him

I honestly don't know how you or Kevin can still tolerate that place.

are you a facilitator these days or still doing the team manager stuff?

[xadamhudsonx]

true story, adam is cold blooded

checkout this picture of him

I honestly don't know how you or Kevin can still tolerate that place.

are you a facilitator these days or still doing the team manager stuff?

Matt, is that the picture you took of me when at the Gaslight/Alkaline Trio show? It came out nice... I love you.

Yes, I am now in Learning& Leadership Development facilitating new hire classes and continuing education classes. When I don’t have classes going on, I still help out on the floor watching teams/taking supervisor calls.

Loki: I was really glad to help you out, and of course if you need anything in the future, I hope you let me know.

TeganandSarah: those chicks are hot, and apparently down to earth about banking.

My Ivory tower is fucking amazing. There are rottweilers there and Tim Kasher serenades me every night and there's a Chipotle down the street. Also, I understand the need to vent and feeling upset over the fees. I feel the same way when my own bank charges me fees on my accounts. I just don’t understand why you'd decide to boycott a bank and rail against the entire banking industry over it. It seems silly.

[sgoodcore]

You work in the banking industry they've trained you to believe charging fee upon fee is normal business practice. Its not. Fuck, Wells Fargo has never done that to me. I don't think, in the few times I've overdrawn my checking account mistakenly they've had much issue reversing the charge.

People aren't perfect and banks should not expect them to be, I'm not sure why you can't understand that. And I'm frankly tired of paying fees out the nose when the fee value is made-up and I made an honest mistake. No one should need to pay a late and a finance charge and then a finance charge on the late fee.

[xadamhudsonx]

You work in the banking industry they've trained you to believe charging fee upon fee is normal business practice. Its not. Fuck, Wells Fargo has never done that to me. I don't think, in the few times I've overdrawn my checking account mistakenly they've had much issue reversing the charge. quote]

They've trained me to understand how a credit card works, and in turn explain it to customers who do not work in the industry themselves. I didn't say I agree with the fees or that I dont feel upset when I'm charged. I'm just telling you why it was charged, why your request for a reversal was denied, and why boycotting a bank isn't going to change their decision making process.

Also, Wells Fargo is happy to reverse fees on your deposit account because the money you deposit they go and loan to other people. They want to be able to extend loans, so they help you out. Chase has given you their own money with the expectations you'll pay them back on time per your credit card agreement. They are less forgiving because it's their money, not yours.