The Pros And Cons Of Chase Credit Cards
Chase bank has been around fro quite some time. After acquiring Washington Mutual Bank, JP Morgan Chase has become one of the largest lending institutions in the United States. Being this large does have it’s benefits to consumers but also has minor negative effects. However, I personally use Chase for all of my financial needs and I feel that the positive aspects of the company definitely outweigh the negatives.
Due to JP Morgan Chase’s outstanding growth, they have been able to offer better credit cards blowing away the competition. I though the Chase Sapphire Preferred Card was great until the Continental OnePass card came. After making your first purchase with the Chase Continental OnePass Card, you will have earned enough points for a round trip flight to anywhere in the continental United States. Now that’s a reward. Not only can you get free flights, the first checked in bag of luggage is free. I haven’t seen this with any other credit card in the skymiles industry.
One of the major reasons however to go with Chase is their exceptional understanding of financial hardships. Lets face it, you can be making a $300,000.00 salary today but you never know what tomorrow brings. Surprisingly enough I have found that Chase understands this fact. Working as a personal financial consultant, I have helped many clients through financial hardship situations. Chase has been by far the easiest lender to deal with! In some cases, Chase even reduced the interest rate on client credit cards to 0% for the life of the loan to assist the client with their financial hardship. In my eyes that is amazing. Not only were they willing to loose some profit, but they were willing to loose all profits to help people. This is a rarity in the financial industry.
Also, Chase customer service is beyond exceptional! I have had the misfortune of having my credit card stolen. Now because I don’t use my card often, I didn’t realize it until about 2 weeks down the road. By then, the thief had already spent over $10,000.00 on my credit card bringing it to and above the credit limit allowed. When I called, not only were the representatives I spoke with very polite, they ensured me that I would not be held liable for any unauthorized purchases. This was the case. Every penny taken was refunded and I was not held liable for a thing!
OK so I’ve told you about the pros now what about the cons. Well, because of the fact that Chase is a large lending institution, they do have the means to be very selective. This means that if you don’t have good – excellent credit, your selection of Chase credit cards that you may be approved for is drastically reduced. Also, hold times have went from about 30 seconds to about 45 seconds since Chase’s acquisition of Washington Mutual. 15 seconds won’t kill anyone though and if you are looking for a credit card, Chase should be one of your top picks!Google+