Chase is one of the largest banks in the United States. It provides banking, investments, loans, and, of course, a popular lineup of credit cards.
It offers more checking options than most of its competitors. Account opening requirements are typically low, and it is relatively simple to waive the service fee on basic accounts. However, as is typical of large banks, interest rates on savings products are low.
Overview of Chase
It is an American national bank headquartered in New York City that serves as the consumer and commercial banking subsidiary of JPMorgan Chase, a multinational banking and financial services holding company headquartered in the United States. Until it merged with J.P. Morgan, the bank was known as Chase Manhattan Bank. Morgan & Co. in 2000, Chase Manhattan Bank was established.
In 1955, the Chase National Bank and the Manhattan Company merged to form Chase Manhattan Bank. The bank merged with Bank One Corporation in 2004 and later acquired Washington Mutual’s deposits and assets.
It has over 5,100 branches and 17,000 ATMs across the country. JPMorgan & Co. employs 250,355 people and operates in over 100 countries (as of 2016). In 2016, JPMorgan & Co. had $2.49 trillion in assets.
Its credit cards are issued by Chase Bank, N.A., which is part of the retail banking arm of J.P. Morgan , the largest banking organization in the United States and the sixth-largest in the world. J.P. Morgan has grown over the last 20 years through the acquisition and merger of several large banking organizations, including Bank One, Chemical Bank, and Washington Mutual. The merger of J.P. Morgan and Chase Manhattan Bank in 2000 was the most significant of these, resulting in the company’s new name and branding.
It offers a variety of rewards cards to consumers, students, and small business owners, with rewards ranging from cash back to points. Its cards also allow cardholders to transfer balances and manage their spending. It has alliances with a number of major airlines, hotels, and retail organizations, and it offers specialized rewards programs through co-branded credit cards. Amazon, Disney, Hyatt, Marriott, IHG, United Airlines, and Southwest Airlines are among the partners.
If you want to open a Chase checking account, you can do so quickly on the bank’s website or in a local branch. Here’s how it’s done:
How to Open Your Account
- Gather the Necessary Items and Information
- Social Security number
- Driver’s license or state-issued ID
- Contact information including your name, address, email address, and phone number
- Please keep in mind that if you are opening a joint account, both you and the co-account holder must provide this information.
- Choose a Checking Account
- Chase provides a variety of checking account options. Go to the Chase website and click the “Open Now” button for the account you want to open.
- Complete an Online Application
- If you are a current Chase customer, you can sign in to your account and open a new account using a prefilled application. Complete and submit the online application if you are not a current Chase customer.
- Contribute to the Account
- To open an account with Chase, no deposit is required. You must, however, fund the account within 60 days of opening it.
- Earn up to $1,500 by opening a Citi Priority Account and completing the required activities.
Can You Apply in Person?
If you prefer not to open an account online, you can always go to your local branch and open a checking account in person. You must provide the same information and documents as described in the previous steps.
If you want to open a joint account, you must apply in person. You and the co-account holder must both go to the bank.
Pros and Cons
Let’s go over the benefits and drawbacks.
- 16,000 ATMs and more than 4,700 physical branches
- Coupon and bonuses for new customers
- Relatively low opening requirements
- Easy to waive service fees on basic accounts
- Many checking options for all financial situations
- Online and mobile banking from anywhere
- Free online bill pay, mobile deposits, and text banking
- 24/7 customer service with real reps
- Highly rated mobile app
- FDIC insured up to $250,000
- Full service bank with checking, savings, credit cards, loans, and investing
- Low interest rates on savings products
- Not located in all states
- Requirements to waive monthly service fee
- High out-of-network ATM fees
- Many banking fees
- No retirement accounts
Who should go for chase?
- If you prefer to have all of your financial transactions handled by a single bank.
- If you require in-person banking services and want to be able to access branches and ATMs.
- If you receive regular direct deposits or keep a balance in your account.
- If you’re considering or already use Chase credit cards
Chase savings accounts
It offers two types of savings accounts:
Chase Savings ($0 to open)
This is a basic savings account with no additional benefits. It’s simple to avoid the $5 monthly service fee with a $300 daily balance or a $25 automatic transfer from a linked Chase checking account every month. This account is free for teens under the age of 18.
Chase Premier Savings ($100 to open)
This account is intended to be used in conjunction with its Premier Plus Checking or Sapphire Checking account. When you have a larger balance and meet certain relationship requirements, you can earn a higher interest rate.
Because its interest rates are low, your money will not grow very much. Other savings accounts offer interest rates in excess of 2%. So, if making money is your top priority, you should look elsewhere.
When combined with its checking account, it can still be used as a secondary savings account. There are benefits to having linked accounts from the same bank, such as quick transfers and overdraft protection.
Certificates of Deposit require you to deposit a predetermined amount of money for a predetermined period of time. There is a penalty for withdrawing early.
To get a higher relationship rate, link its CD to a personal Chase checking account. Aside from that, the rates are quite low.
- Larger balances also receive a higher rate.
- The minimum opening deposit is $1,000.
- Daily compounding is fascinating.
- There is no monthly service fee.
It offers competitive rates on 9- to 11-month and 21- to 23-month CDs (when linked to a checking account). If you can afford a larger deposit, the rates are competitive. Other online banks, on the other hand, offer higher CD rates, and some even have no opening minimums.
New retirement CDs are no longer available from it.
What Credit Score Is Required for a Chase Credit Card?
It generally requires excellent credit for the majority of its card products, but it does provide a few cards for those with only good credit. A FICO score of 740 or higher is typically required for excellent credit, while a good credit score begins at 670. The Chase Freedom Student Card is designed for young adults just starting out, but it also requires a credit score of 670 or higher. It does not have cards for people with fair or bad credit, nor does it have a secured credit card.
You can apply for a credit card online 24 hours a day, seven days a week by using the referral links above.
You must provide the following information when applying for a personal credit card:
- Full name
- Type of residence
- Date of birth
- Mother’s maiden name
- Email address
- Phone number
- Social Security number
- Total gross annual income
- Source of income
Many applicants will be notified immediately of their new credit limit. If your application is approved, you should receive your new card within 7 to 10 business days.
Pending applicants should contact them at 800-432-3117 to discuss their application and get answers to any questions they may have.
Checking Account Options
They offer four different types of checking accounts. Examine the details of each of its checking account and take note of the key differences to determine which is best for you.
Chase Total Checking
Its Total Checking account provides access to 16,000 ATMs and over 4,700 branches, as well as protection against debit-card chip technology and 24-hour customer service. You also have access to online bill pay and mobile banking.
This account has a monthly service fee of $12. However, if you meet the requirements for direct deposit, minimum daily balance, and/or beginning day balance, it will waive the monthly service fee.
Find a Checking Account That Suits Your Lifestyle. Customers who open a new checking account will receive a $100 bonus.
Chase Secure Banking
It offers all of the services you’d expect from a checking account. This account includes a fee waiver for counter checks and money orders, as well as access to over 16,000 ATMs and online banking services.
This account has a fixed monthly fee of $4.95 that cannot be waived.
Chase Premier Plus Checking
Customers with this interest-bearing account receive priority service and have access to all its Total Checking benefits. Account holders also receive free checks and have non-Chase ATM fees waived up to four times per statement period.
Benefits of a New Checking Account
Other benefits for Premier Plus account holders include a Chase First Banking account for children and no paper check fees. You can avoid paying the $25 monthly fee if you meet certain requirements.
Chase Student Checking
It provides three different accounts to meet the needs of students:
- High School Checking: For students aged 13 to 17.
- College Checking: For students aged 17 to 24.
A qualifying Chase checking account held by the child’s parent or guardian is required to open a Chase First Banking account. This account has no monthly fees. It includes a debit card as well as access to Chase branches and ATMs.
Chase credit card
Credit card points and frequent flyer miles are extremely valuable, regardless of the program through which they are earned or what you choose to do with them. While there are several types of credit card rewards, you benefit regardless of which type your card earns by collecting a rebate on your everyday spending as long as you maintain financial discipline and pay your bill in full each month
The Sapphire Reserve is a premium rewards card that has set the bar for other credit card companies, who have updated their own products to compete with the Reserve’s top-tier rewards and benefits. Even if you don’t want to pay the steep annual fee for the Reserve, it has other excellent rewards cards to consider, such as cash-back options and excellent small-business credit cards.
Other chase credit card
- Chase Sapphire Preferred
- Chase Freedom Student
- Chase Ink Unlimited
- Chase Freedom Flex
- Ink Business Preferred
Closing your Chase account
Before you close a Chase credit card, you should consider why you’re thinking about doing so. Meanwhile, you should consider alternative steps that could change up your credit game for a goal (e.g., avoiding an annual fee) without all of the drawbacks that come with closing your account completely.
While canceling your card may make sense in the long run, the Chase 5/24 rule and other Chase restrictions can make getting a rewards credit card you’ve had in the past much more difficult if you change your mind.
This guide will explain how to close a Chase credit card account as well as some alternatives you could take.
How to Close It
If you really want to close your credit card account, Chase doesn’t make it difficult. Here are the steps you can take to completely close your credit card account.
If you’re wondering how to close a Chase account over the phone, start by dialing the customer service number listed on the back of your credit card. When a customer service representative is ready to assist you, inform them that you want to close your credit card account entirely. To prove your identity, you’ll need to share information such as your ZIP code, name, and account number while on the phone.
If you prefer not to call the number on the back of your Chase credit card, you can call their customer service at 1 (800) 432-3117.
Cancel your credit card online.
They do not have an online chat feature like American Express, but they do have a secure online contact form. If you bank or manage your credit card account on Chase.com, you can request that your card be cancelled via their secure messaging system.
To do so, you must first log in to your online account management page. Then, from the drop-down menu on the left side of the screen, select “secure messages.”
Then, choose the option “I have a question about one of my accounts.” Image of its Q&A portal
At that point, you’ll choose the credit card account number for the card you want to close and write a simple message stating that you want your account closed and that you can provide additional information if necessary.
Send a letter through the mail
You can also send a letter to them in the mail if you don’t manage your account online or prefer to speak with someone over the phone. Include your name, account number, address, and a brief message stating that you want your Chase credit card account closed immediately in your letter.
If you want to close a Chase credit card by mail, you can use the following address:
National Bank by Mail
P.O. Box 6185 Westerville, OH 43086
How to Begin with Chase Online Banking
To get started with its online banking, go to chase.com and click on “Not enrolled?” Sign up right now.”
Enter your registration information.
Can I use Chase Online banking to manage a business account?
Of course, with its online Business banking, you’ll receive recommendations from a committee of business experts who work to improve cash flow, credit outcomes, and payroll management.
They also offer other financial services.
- Auto loans
- Mortgages for purchase
- Mortgage refinance
- Individual retirement accounts (IRAs) (IRAs)
- Managed investment portfolios for self-directed traders
- Banking for the rich
- Financial consultants
- Loans for businesses
Chase near me
1. Chase Microfinance Bank
Address: 11 Michael Olawale-Cole Drive Lekki Phase I Lekki, Eti-Osa, Lagos
Closes: 5PM ⋅
2. Chase Express Services Limited
Address: 90 Ladipo St, Oshodi-Isolo 102215, Lagos
Chase customer service
Credit Card: 1-800-432-3117. Go to chase.com/customerservice for call center hours.
Personal Banking: 1-800-935-9935.
Available Monday – Friday: 7 AM – 11 PM ET and Saturday – Sunday: 10 AM – 7 PM ET
Frequently Asked Questions
Is Chase to be trusted?
Yes, in the event of a bank failure, all Chase bank accounts are FDIC insured (FDIC# 628) up to $250,000 per depositor, for each account ownership category.
Is Chase Bank a good bank?
Chase has been named one of the Best National Banks and Top 100 Banks of 2022 by GOBankingRates, and the bank has also been named to its Best CD Accounts, Best Checking Accounts, and Best Savings Accounts of 2022 annual lists.
Is Chase free to open?
A checking account does not require any money to open. To avoid the monthly fee on most accounts, you must maintain a minimum balance. The only exception is Chase Secure Banking, which has a fixed monthly fee of $4.95.
Is Chase a terrible bank?
It has a consumer rating of 2.08 stars based on 229 reviews, indicating that the majority of customers are dissatisfied with their purchases. Customers who complain about it most frequently mention issues with customer service, credit cards, and online banking. It is ranked 157th in the Banking category.
Which is better Wells Fargo or Chase?
Both banks offer a variety of business checking accounts, but Wells Fargo comes out on top due to lower monthly fees and higher transaction limits. A large business with up to 500 transactions per month, for example, can expect to pay a $40 monthly fee with Wells Fargo versus a $95 monthly fee with it.
How much can I withdraw with the credit card?
Each day, there is a $3,000 Chase in-branch ATM limit and a $1,000 ATM limit at other Chase ATMs. At non-Chase ATMs, its customers have a daily withdrawal limit of $500.
Who owns Chase?
J.P. Morgan Chase
Is Citibank and Chase the same
Chase and Citibank offer similar products and fees (and ways to waive them), but they differ in some ways. Consider what’s important to you in your banking life, whether it’s nearby ATMs or branch access, and then continue reading to see how the banks compare.
What bank merged with Chase?
Chase Manhattan Bank is formed by the merger of Chase National Bank and The Bank of The Manhattan Company. Its National’s strength in international, corporate, and correspondent banking is combined with The Bank of The Manhattan Company’s branch network and retail banking expertise in the new institution.
How many credit cards should you have?
According to credit bureaus, five or more accounts — which can be a mix of cards and loans — are a reasonable number to aim for over time. Having a small number of accounts can make it difficult for scoring models to generate a score for you.
Should you close credit cards that aren’t being used?
In general, it’s best to keep unused credit cards open so you can benefit from a longer average credit history and more available credit.
Credit scoring models reward you for maintaining long-term credit accounts and only using a small portion of your credit limit.
Does closing a credit card hurt your credit?
Cancelling a credit card will not harm your credit score; however, remember that paying down credit card balances (not just the one you’re canceling) is essential. The cancellation of a credit card has no effect on your credit history (history is a factor in your overall credit score).
Is Chase owned by Bank of America?
JPMorgan Bank, N.A., also known as Chase Bank, is an American national bank headquartered in New York City that serves as the consumer and commercial banking subsidiary of JPMorgan, a multinational banking and financial services holding company based in the United States.