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For which priviledge Chase charges you something obscene. The process post-theft on a debit card is not as scary as you seem to think it is, but that may be a E

• umanwizard 9y ago
  Chase isn't charging me anything for the privilege. I have two credit cards with them -- one with a $0 fee and the other with a $450 yearly fee (but on which I earn way more than $450 in rewards points a year so it washes out). They charge interest, but you don't pay any interest if you settle the full balance every month, which I always do.
  • zdkl 9y ago
    I'm sure the maths work out at an individual level, but have you considered the effect on pricing being a debit-first society would have? Most merchants/payment processors include a premium for handling the edge cases that arise from credit-linked misbehaviour. In the same way you sometimes get a cash discount, removing the merchant/provider protections should show up in your wallet as a good (and surprisingly high) surprise. As I understand it (please correct me), the party who gains for the furtherance of this agenda is the financial service sector who has another opportunity to insert marginal fees and more importantly, a direct access to your transactions without necessarily having the same fiduciary duty or alignement of goals than a bank teller/account manager would have.