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[turnbuckle]

Choose to use your debit card as credit. Magic.

The magic is using a credit card as credit.
Makes magic money for people who have the aptitude and ability to take care of their balance. Makes magic money for banks when people cannot.

I can count on getting a couple hundred bucks a year from my credit cards. My debit card doesn't perform that kind of magic

Same here. I like using my Amazon credit card to get rewards and then just pay off the balance every month.

Speaking of ING, I really got to get in on that. But I'm waiting for those referral bonuses that they do from time to time.

They always have referral bonuses, but there have been times when the incentive was higher than the current $10 & $25.

 

[JGS]

There's no way this will last. At least one bank will not do this, and then the other banks will panic when they see all the lost customers

This was the way it was back in the 90's when they were the clear dominant force. When I worked for Chase out of college, we had a bunch of accounts and all but one required a inimum daily balance of some kind. Debit card use was actually discouraged though!

When internet banking and CU's went into a growth phase, the banks adjusted accordingly. Of course, this also had them search for sleazier ways to make money too. It also didn't help that they became national entities rather than state based.

There will be another outrage of some sort and some other change will be made.

 

[sc0la]

My wife and I talked bout this last night.

If we incur one fee from balance related issues due to the new policies we are moving all of our money. We are both currently unemployed so do not have active direct deposits, Chase can f*ck off with this bullshit of pissing on people when they are down.

Too bad too, because I love the iPhone check deposit and quick pay features, but will move my money in a heartbeat over this trash.