http://www.suntimes.com/business/4276163-420/chase-considering-cap-on-debit-card-purchases.html
Chase is looking to limit debit card purchases to $50. And if this goes through, and you have a knucklebuster, and take a Chase debit card for over that amount, it'll be declined.
They already raised their ATM fees to $4.00
Forewarned is forearmed.
Replies
Thanks for posting this. I'd like to know what other companies might follow suit. I only use the knuckle buster when my wireless machine can't get a signal, but that happens frequently enough as it is.
I wonder what happens if you swipe a debit card that has limits? I imagine most customers will quickly learn their limit, just like I have when gassing up the big ol' van. (Mastercard $75 limit at the pump). The honest ones will not want to waste their time with a failed transaction, and will stop offering a debit card.
I have seen most customers in the last 2 years go from using credit to using debit. It's a convenience for them, and it seems like many think it saves us money (like we don't pay a percentage anyway) ?! When someone says that, I point out that when dealing with card companies, nothing is ever free.