- Centurion Member
- Posts: 875
- Joined: Thu Apr 30, 2009 2:32 pm
- Location: Texas
That Bloomberg story is very interesting. It's focused on deposit accounts mainly. I think it's funny that Chase, according to the presentation slides cited by the Bloomberg reporter, thinks branches are a cheap way to get "affluent" customers.
I don't know if I count as affluent, but I never go into a Chase branch since I can deposit checks at the ATM. My savings account is with an online bank with no branches that pays a far better rate than Chase offers. My investment accounts are at Fidelity, which offers a huge amount of account management capabilities online, charges lower fees than Chase and has branches, too, although I've never been in one.
Theoretically, I could put $100k into a Chase deposit account, but I can't imagine any reason in the world why I would want to. I'll just keep using their credit cards opportunistically to get the rewards, and the basic free checking account to facilitate transfers to my other accounts, which pay interest, Chase, btw.
American Express: Blue Cash Preferred (groceries, 6%; gas, department store, 3%); Gold Delta SkyMiles (Delta Air Lines, 2 miles/dollar, free checked bag).
US Bank: Cash+ (utilities, phone, internet, restaurant, 5%; drugstores, 2%).
FIA Card Services: Fidelity Amex (everything, 2%); Fidelity Visa (everything, 1.5%).
Chase: Freedom (rotating, 5%); Amazon (Amazon.com, 3%); PriorityClub (IHG hotels, 5 points/dollar); Sapphire (not in use).
*All cards are registered with PriorityClub IDine program for 8 points/dollar at participating restaurants.