Fact checked. How does it compare to Bank of America Cash Rewards, a cash back credit card? JPMS, CIA and JPMorgan Chase Bank, N.A. PNC vs. Chase: Bank Accounts. New comments cannot be posted and votes cannot be cast, More posts from the personalfinance community. The BoA has a combined spending limit of $2,500 on 2 percent and … We won't keep any savings of notable amount in either bank. Stick with the squid. How does it compare to Bank of America? Check out the categories, and if you spend a lot at those kinds of stores this could be a great card for you. You just used your card at a store. Keep in mind, the Chase Sapphire Preferred has a $95 annual fee, while the Bank of America Cash Rewards has a $0 annual fee. SunTrust Bank has 1,400 branches in the Southeast region. BOA would charge you to park in the parking lot if allowed. Chase is one of the biggest banks in the Unites States, they offer everything from personal banking to mortgages to loans, as well as a popular range of credit cards.. Not to mention, they offer more checking options compared to other competitors. Chase offers two primary savings accounts, including the Chase Savings and Chase Premier Savings accounts. The Chase Freedom gives you 5 percent cash back, but on rotating categories that you must activate and monitor each quarter. This includes the PNC Standard Savings and the PNC “S” is for Savings accounts. Press question mark to learn the rest of the keyboard shortcuts. Thank you. The bottom line: Choose the … I get alerts on my phone immediately after a card is used. Read our comparison chart below. Bank of America is OK, the app isn't great. It doesn't quite feel like it's still in beta, but for example I could tell that some of the reps at Chase weren't really experienced, especially compared … Chase offers an impressive selection of mobile banking tools, including mobile deposit and on-the-go account management. Join our community, read the PF Wiki, and get on top of your finances! Chase Sapphire Preferred is a high-earning rewards card for those with excellent credit. Chase (assuming we go with Chase, which we probably will from the input) will be for a checking account to have access to more atms and our credit card. Spending limit. Chase is less dirty. Chase vs Bank of America. During the analysis period, Chase published an average rate of 3.44%, Bank of America 3.65% and Wells Fargo 3.70%. By using our Services or clicking I agree, you agree to our use of cookies. Chase is much more updated, even gives you a "snapshot" of how much you've spent daily/weekly. Haven't had any problems with BOA checking. PNC and Chase equally offer relatively similar products, but account types, fees and conditions are different for each bank. We will basically be using either bank for our direct deposits from work and a credit card. I love Chase's credit cards for the rewards, but I have no desire to bank with them. Yup, this is why I love Chase so much. Saving. Personally, I love Chase because their data updates in real-time. Wells Fargo and Chase are two of the largest U.S. banks, and they make it convenient to bank in person, with many ATMs and branches. In comparison to PNC Bank that has over 2,600 PNC branches across 19 states. Capital One vs. Chase: Bank Accounts. are affiliated companies under the common control of JPMorgan Chase & Co. Products not available in all states. Chase is 100% the better choice. I have been with Chase for roughly 5 years, and with Bank of America for less than 6 months. I just moved to Chase from BOA. I don't have any experience with BoA as I've used Chase exclusively for the past 15+ years, but I have nothing bad to say about them. Chase Bank vs. Bank of America mortgages Chase and Bank of America are two of the country’s biggest banks, but should you choose one over the other for your next home loan? But in an era of low rates, small differences can carry the day. The Chase Freedom and Bank of America Cash Rewards Cardare both valuable rewards credit cards, providing their cash back for some of the same types of purchases. The only worse bank is "Wells Fargo". Checking accounts require $100 to open and offers different ways to waive fees. Chase vs. Bank of America. But why not look at a local bank or a credit union? I have credit cards with both (though I never use BoA, only got it for the SUB), and I've never banked with either. But if you don't qualify to waive them, then you might prefer Bank of America. Things I'm comparing are the credit cards (Freedom unlimited and Cash Rewards), mobile app usability, customer service and overall experiences with both banks. Their app is the best. Looks like you're using new Reddit on an old browser. Personally I would go with an online bank. Credit cards based on point rewards. Keep in mind that Chase will be adding some more retailers throughout the year. I have my checking, savings, and cc with chase. Chase is OK but I feel like they're still new to this type of brokerage account and they are still rolling out features to it. Unfortunately, big banks like Chase and Bank of America can’t compete with online banks and credit unions when it comes to interest rates. I’ve had too many circumstances where I’ve had to request another form of payment due to the lack of a local branch at my current location. Hello everyone, I was seeking some advice on the two banks mentioned above. Compare rates Read guide Navigate Mortgages. Bank of America Premium Rewards: Earn 2 points per $1 on all travel and dining and 1.5 points per $1 on all remaining purchases plus Bank of America Preferred Rewards bonus. If you want the brick and mortar option I would look at a small local credit union. Cookies help us deliver our Services. We also have our mortgage with them. There is of a variety of checking and savings account options … Search under "Bank of America" + "Fruad" + "class action". Dear God, no. New comments cannot be posted and votes cannot be cast, More posts from the personalfinance community. It's great. The Bank of America vs. Chase vs. Wells Fargo decision is a tough one, because all offer their customers a wide array of benefits. Its monthly fee is much lower than what Chase charges. Between Chase, HSBC, and TD bank, I found Chase the best. Looks like you're using new Reddit on an old browser. Chase also wins high marks for creating one of the best credit cards, the Chase Sapphire Reserve℠ credit card, which is designed for individuals with excellent credit. US Bank has different locations with more than 3,000 branches across 26 states. That, happens to me like two times, and I will get hit with an overdraft fee, because that transaction didn't post. Customer service is great. SunTrust Bank is a southeastern regional bank known for good customer service. Chase is much more updated, even gives you a "snapshot" of how much you've spent daily/weekly. The app is AMAZING! Also, it breaks down on what you spend your money on! But Bank of America has some stiff competition from Chase, which has over 5,000 branch offices, about 10% more than Bank of America, and an equivalent number of ATMs nationwide. Chase Bank offers a huge network of ATMs and branches, with 4,900 brick-and-mortar banks and 16,000 ATMs nationwide. Bank of America Travel Rewards vs. Chase Sapphire Preferred HSBC gave us stupid fees and did some shady stuff with my account a few years back. My main bank (checking, share/savings, and mortgage) is a credit union. Designed for a business with some time under its belt, the Chase Performance Business Checking account is a strong option. Here’s the breakdown: Chase Performance Business Checking. Bank of America is a popular pick for auto financing, and it offers a few benefits that Chase Auto doesn’t. Online-only bank CD rates earn more than twice what Bank of America and Chase CDs earn for one-year and five-year terms. I do use a local credit union for a Money Market savings account (2% interest). Both Chase and Capital One offer checking accounts, savings accounts, certificates of deposit (CDs) and IRAs. Chase and Bank of America both make it easy to waive monthly fees. Any advice comparing the two or personal experiences would be appreciated. On five year CDs, Chase comes out slightly ahead. IRAs. This is the first time ive used reddit for something like this and its been very nice being able to see different viewpoints and support. You don't have to wait X amount of time before it shows up, which I love. Different banks offer … BofA credit cards do not have the simple autopay system like other credit card companies; you have to set it up as an e-bill. Chase is one of the biggest banks in the Unites States, they offer everything from personal banking to mortgages to loans, as well as a popular range of credit cards.. Not to mention, they offer more checking options compared to other competitors. But with a strong spending bonus on every purchase and a flexible rewards program, it’s one of the best – and least complicated – no annual fee travel cards around. After testing 15 of the best online brokers over five months, Merrill Edge (88.87%) is better than Chase You Invest Trade (68.86%). Is there a reason you can't just do your normal banking at your CU and use the credit cards from Chase and/or BoA? Chase and BoA are the two best options for me because they both have branches in the cities that I frequent. Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. The Bank of America® Travel Rewards credit card, on the other hand, doesn’t offer quite as much value. Much better service and there has been much less corruption found with their executives. Customer service is great. My parent's house mortgage was originally with HSBC but they sold our mortgage off to a chain of other mortgage lenders so our mortgage statement isn't even coming from HSBC anymore. It also has auto-sav. The company provides financing for car shoppers that want to buy from a private seller (visit a local branch for details). They offer a wide variety of checking, savings, CDs, and … On one year CDs, Bank of America offers slightly higher interest rates and offers a bonus rate on 13 month CDs. Bank of America has lower advertised rates for both new and used car loans. Read our comparison chart below. You don't have to bank with Chase or BoA to use their credit cards. By using our Services or clicking I agree, you agree to our use of cookies. Cash deposits is a main requirement of mine. We are looking to combine finances over to one of the two. I have 3 banks I use for various purposes that I have never set foot in, Pen Fed credit union, Navy Fed and GS Bank. Or, consider the Bank of America card to get 3% cash back on your … Taking a step up, both banks have solid offerings for mid-sized businesses. If you open your Chase app, it will be listed there. Cookies help us deliver our Services. I have been with Chase for roughly 5 years, and with Bank of America for less than 6 months. I also have an online savings with Discover (have some of their credit cards too!). Never going back. If anyone has preference or insight comparing the two banks it would be appreciated. Both banks require the same minimum to open a CD, but some online bank … Bank of America offers more options for IRA, and doesn’t offer an option to open one directly. BofA has slightly higher APRs, with CDs capped at 2.10% and savings accounts up to 0.06%. However, the terms and conditions for those products do vary per bank. The credit card at the credit union isn't great as far as cash rewards. Chase Performance vs Bank of America Business Advantage Checking. SunTrust Bank vs Bank of America. If you prefer to do your banking in person, Bank of America has branches in 37 states compared to Chase‘s 26. It's also the only mega bank that charges for initiating outgoing ACH transfers. You can choose what day of the month and the amount to transfer to your savings account if you'd like to save this way. I have Chase for credit cards and BOA for checking. Press question mark to learn the rest of the keyboard shortcuts. $0 to open. Can I ask why you need locations close by? Prviously had a BOA credit card - it was basically useless. I cant possibly respond to all of these comments but please know i am entirely grateful. Chase’s base rate is the lowest you can possibly earn, at a 0.01% APY. (We use a credit union for savings and our mortgage). PNC offers two savings account options, including one for children. can't hurt. With online bill pay, direct deposit, mobile banking the need for a person who is tech savy to go to a bank is getting lower and lower. Chase vs. Bank of America: Rates. BofA? Join our community, read the PF Wiki, and get on top of your finances! Britny Lawhorn Updated Sep 30, 2020. Slightly higher interest rates. You earn 1 percent on all other purchases, similar to BoA. My wife and I were recently married. Chase is a good choice if you’re looking for a bank with full range of services, physical locations, lots of ATMS, and good mobile banking. Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. In summary: Bank of America has many account options and their user friendly interface and mobile app is noteworthy. How much money would you have associated with your bank? I currently love the bank I’m with, however, I have moved and there are no locations close by. Three of the world's biggest banks—Bank of America, Citi, and Chase—all offer high-net-worth management solutions. Chase and Bank of America represent two of the largest banking operations in the world, and they rank second and third, respectively, for the most branch locations in America behind Wells Fargo. Wondering if you're considering any online only banks. BofA has a cool budgeting option, you put your goal and what it's for and it keeps track of it with a timeline sort of.. idk what to call it. Bank of America is OK, the app isn't great. I know there are people here who have had significantly different experiences, but I would absolutely recommend Chase to anyone. "Chase Private Client" is the brand name for a banking and investment product and service offering. I would choose the bank based on who has the most readily accessible ATMs/branches. The Freedom card will give you 5% back on different types of purchases throughout the year. I have my checking, savings, and cc with chase. Their app is great, service is great, and all of my credit cards are Chase cards (CSR, Freedom), so I can manage everything through a single portal. One of us uses Chase and the other uses Bank of America. Chase Savings: $5 monthly service fee waived with either a $300 daily balance OR $25 automatic transfer every month from a linked Chase checking account OR for owners under 18. The app is AMAZING! Is Chase You Invest Trade better than Merrill Edge? However out of the two banks you named I would go with Chase, they seem like a growing company while BofA (fault may or not be theirs) is losing their national foot print and selling branches. The site may not work properly if you don't, If you do not update your browser, we suggest you visit, Press J to jump to the feed. Food, clothes, other, etc! So, for those people who prefer the convenience of having a lot of locations and ATMs — even when they’re out of town — deciding between these two options can be a tough one. How old are you and how tech savy are you? Backed by parent company Bank of America, Merrill Edge delivers $0 stock and ETF trades with fantastic research and customer service. The Chase Sapphire Preferred is the gold standard for travel cards at the $95 annual fee level, but Bank of America's option has some advantages too. The site may not work properly if you don't, If you do not update your browser, we suggest you visit, Press J to jump to the feed. Bank of America has a student account you can sign up for that gives you a lot of services (overdraft protection, checks, etc) for free for four years.