Wednesday, April 07, 2010

Chase, just shut up...

I got a call about 6 months ago from Chase, warning me about a terrible new law that was passed that required them to give me an option to opt out of their greatest deal, the magic "OverDraft Protection Coverage" or something. I listened to the speaker, and then asked this question:

Chad - "So, if I don't agree to continue with this overdraft protection, and I don't have enough money for a transaction, you won't approve the transaction?"

Chase rep - "Yes"

Chad - "And that also means that you won't charge me an overdraft fee?"

Chase rep - "Yes"

Chad - "So, you will no longer charge me an extra fee if I am stupid enough to try to make a transaction with my bank account that I can't afford?"

Chase rep - "Um, that's true, but..."

Chad - "But if I agree to your overdraft protection you will continue to do what you've been doing for years, which is charge my account $39 or more every time I try that?"

Chase rep - "Um, yes."

Chad - "So, you can probably guess what my answer is."

Chase rep - "Yes, I probably can."


But that didn't stop the warnings, of course. They're so terrified of losing their $39 stupidity reward, they send out warnings weekly, sometimes daily. Today they sent this one, and I had enough:

If you don't have Chase Debit Card Overdraft CoverageSM, beginning August 15, 2010, your everyday debit card purchases will not be approved if you don't have
sufficient available funds*.

These purchases may be approved at Chase's discretion if you have Chase Debit Card Overdraft Coverage.
Standard overdraft fees may apply.

So now they're at least being a little more honest and saying that the is charged at Chase's discretion, meaning they can choose whether to hurt their customers or not rather than it just being an automatic slap in the face every time they find someone who can't maintain their bank balance above zero.

Chase, just shut up...

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