4ktvs wrote:No I don't think they are going to default as a bank, I just don't want to deal with a toxic sub prime lender like them. I shall not pay a monthly account fee on a credit card just because I avoid paying interest via paying in full on time before the due date. The terms they have listed avoid the fact they add what ever kind of fee they feel like and then tell customers it's because you don't carry a balance that pays them interest.
All the above is saying is I plan to avoid Chase issued credit cards that's all.
Chase is by no means sub-prime. They have arguably the best portfolio of cards on the market. I'm not really sure where you're getting this information about them charging a fee for PIF. I've been with Chase for 3 years now and have never heard of this.
My family member who was burned by them in 2008 who had over half of there total line of credit with them. They had an 800+ Fico with a spotless clean credit report(s). Chase had put in this monthly account fee for credit card customers that were in good standing that had all accounts paid as agreed but did not pay them interest. Via Pay in full or because of an agreement for a %0 APR promo. They closed every account they had with Chase. You were not given any heads up when they do this fee, they just do it and even if you want to close the account you still had to pay it before closing.
I like to avoid risk and so because I find this bank to be at a high risk of contract default or to commit breach of contract I shall avoid them. I can do with out there products as there are many other choices out there. (I know there is always a risk with any bank or any contract you sign, I just view them as higher risk.)
I know 2008 was some time ago, but again with so many other choices I personally feel it's best to avoid them. Some like Chase or I should I say a lot due to there size and that's fine. Everyone has there 2 cents and mine is I would like to avoid doing business with Chase.