Tuesday, September 15, 2009

Of Chase Bank and Coming Tea Parties

Yesterday I posted an article about Chase Bank. I signed up for their "Leisure Rewards" program and they wanted to charge my wide two fees for our cards on a joint account. Without going into all the details, the program offers $25.00 back in prepaid debit or gift cards for every $2750.00 in purchases. I thought that it was one instance of a nickel and dime attitude towards bank customers. Little did I realise that there is a whole world out there in cyberspace of angry bloggers whose interest rates have been jacked up, and who are being strong armed into new credit card agreements with less favourable terms.

I got a reply to my article on Chase Bank Leisure Rewards from a blog that is a clearing house of links to anti Chase blogs and web sites. The web site is called Bloggers against Chase. It has numerous articles and links to other sites that are critical of Chase Bank for considering its own needs at the expense of their customers.

Apparently, Chase bank is long overdue for scrutiny. I found an interview with Glenn Beck in which he speaks of $5 million dollars given to ACORN by the Chase bank, which he estimates to be the tip of an iceberg.

We have the Federal Reserve Bank printing money with no accountability. We have a skyrocketing deficit that has even shocked Communist China into stern warnings and threatened the primacy of the American dollar. And now we have a major bank that has been given free rein by the Obama administration to milk its customers for everything it can get.

Sensible management of credit by large banks is a critical part of any financial recovery. The American people should be taking a very close look at the Chase Bank, what it is getting from the Obama administration and what it does as payback.

We can not afford another bailout. The American people need to keep an eye on our banks. I will be watching this story a lot more in the future. and you should too.

1 comment:

prepaid credit cards said...

Thanks for your post. I will have more research about Chase Bank to understand more...

Thanks for sharing :)