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 ⦠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. Chase and Bank of America both make it easy to waive monthly fees. Taking a step up, both banks have solid offerings for mid-sized businesses. I have Chase for credit cards and BOA for checking. The Freedom card will give you 5% back on different types of purchases throughout the year. Keep in mind that Chase will be adding some more retailers throughout the year. Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Much better service and there has been much less corruption found with their executives. The app is AMAZING! However, the terms and conditions for those products do vary per bank. 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. Personally I would go with an online bank. Haven't had any problems with BOA checking. I have my checking, savings, and cc with chase. 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. The Bank of America vs. Chase vs. Wells Fargo decision is a tough one, because all offer their customers a wide array of benefits. Join our community, read the PF Wiki, and get on top of your finances! How much money would you have associated with your bank? Bank of America has lower advertised rates for both new and used car loans. I have my checking, savings, and cc with chase. By using our Services or clicking I agree, you agree to our use of cookies. Cash deposits is a main requirement of mine. Looks like you're using new Reddit on an old browser. If you prefer to do your banking in person, Bank of America has branches in 37 states compared to Chaseâs 26. How old are you and how tech savy are you? Chase vs. Bank of America. PNC offers two savings account options, including one for children. But why not look at a local bank or a credit union? Between Chase, HSBC, and TD bank, I found Chase the best. Chase is a good choice if youâre looking for a bank with full range of services, physical locations, lots of ATMS, and good mobile banking. 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. The bottom line: Choose the ⦠The company provides financing for car shoppers that want to buy from a private seller (visit a local branch for details). Chase Bank vs. Bank of America mortgages Chase and Bank of America are two of the countryâs biggest banks, but should you choose one over the other for your next home loan? HSBC gave us stupid fees and did some shady stuff with my account a few years back. So, for those people who prefer the convenience of having a lot of locations and ATMs â even when theyâre out of town â deciding between these two options can be a tough one. Chase offers two primary savings accounts, including the Chase Savings and Chase Premier Savings accounts. 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. I would choose the bank based on who has the most readily accessible ATMs/branches. Join our community, read the PF Wiki, and get on top of your finances! Search under "Bank of America" + "Fruad" + "class action". It's great. I have been with Chase for roughly 5 years, and with Bank of America for less than 6 months. Bank of America is a popular pick for auto financing, and it offers a few benefits that Chase Auto doesnât. Fact checked. PNC and Chase equally offer relatively similar products, but account types, fees and conditions are different for each bank. "Chase Private Client" is the brand name for a banking and investment product and service offering. Designed for a business with some time under its belt, the Chase Performance Business Checking account is a strong option. Spending limit. During the analysis period, Chase published an average rate of 3.44%, Bank of America 3.65% and Wells Fargo 3.70%. If you want the brick and mortar option I would look at a small local credit union. 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. Chase is 100% the better choice. 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. I have been with Chase for roughly 5 years, and with Bank of America for less than 6 months. Chase is much more updated, even gives you a "snapshot" of how much you've spent daily/weekly. You don't have to bank with Chase or BoA to use their credit cards. I currently love the bank Iâm with, however, I have moved and there are no locations close by. Chase vs. Bank of America: Rates. can't hurt. SunTrust Bank has 1,400 branches in the Southeast region. My main bank (checking, share/savings, and mortgage) is a credit union. There is of a variety of checking and savings account options ⦠On five year CDs, Chase comes out slightly ahead. Press question mark to learn the rest of the keyboard shortcuts. Unfortunately, big banks like Chase and Bank of America canât compete with online banks and credit unions when it comes to interest rates. 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. In summary: Bank of America has many account options and their user friendly interface and mobile app is noteworthy. In comparison to PNC Bank that has over 2,600 PNC branches across 19 states. Personally, I love Chase because their data updates in real-time. 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. We also have our mortgage with them. Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Check out the categories, and if you spend a lot at those kinds of stores this could be a great card for you. Yup, this is why I love Chase so much. 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. I just moved to Chase from BOA. 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. Looks like you're using new Reddit on an old browser. 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. Cookies help us deliver our Services. Bank of America Travel Rewards vs. Chase Sapphire Preferred are affiliated companies under the common control of JPMorgan Chase & Co. Products not available in all states. Customer service is great. Bank of America is OK, the app isn't great. Also, it breaks down on what you spend your money on! 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. One of us uses Chase and the other uses Bank of America. But with a strong spending bonus on every purchase and a flexible rewards program, itâs one of the best â and least complicated â no annual fee travel cards around. Any advice comparing the two or personal experiences would be appreciated. I have credit cards with both (though I never use BoA, only got it for the SUB), and I've never banked with either. How does it compare to Bank of America Cash Rewards, a cash back credit card? Backed by parent company Bank of America, Merrill Edge delivers $0 stock and ETF trades with fantastic research and customer service. Both Chase and Capital One offer checking accounts, savings accounts, certificates of deposit (CDs) and IRAs. Hello everyone, I was seeking some advice on the two banks mentioned above. Read our comparison chart below. 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. Never going back. The app is AMAZING! They offer a wide variety of checking, savings, CDs, and ⦠Slightly higher interest rates. 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. Keep in mind, the Chase Sapphire Preferred has a $95 annual fee, while the Bank of America Cash Rewards has a $0 annual fee. Their app is the best. (We use a credit union for savings and our mortgage). Hereâs the breakdown: Chase Performance Business Checking. PNC vs. Chase: Bank Accounts. Can I ask why you need locations close by? JPMS, CIA and JPMorgan Chase Bank, N.A. I also have an online savings with Discover (have some of their credit cards too!). Its monthly fee is much lower than what Chase charges. Chase vs Bank of America. IRAs. The BoA has a combined spending limit of $2,500 on 2 percent and ⦠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. Dear God, no. Checking accounts require $100 to open and offers different ways to waive fees. I know there are people here who have had significantly different experiences, but I would absolutely recommend Chase to anyone. Chase offers an impressive selection of mobile banking tools, including mobile deposit and on-the-go account management. Chase also wins high marks for creating one of the best credit cards, the Chase Sapphire Reserveâ credit card, which is designed for individuals with excellent credit. US Bank has different locations with more than 3,000 branches across 26 states. Chase is much more updated, even gives you a "snapshot" of how much you've spent daily/weekly. 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? Thank you. Britny Lawhorn Updated Sep 30, 2020. How does it compare to Bank of America? Food, clothes, other, etc! Press question mark to learn the rest of the keyboard shortcuts. The only worse bank is "Wells Fargo". Cookies help us deliver our Services. This includes the PNC Standard Savings and the PNC âSâ is for Savings accounts. Stick with the squid. BofA has slightly higher APRs, with CDs capped at 2.10% and savings accounts up to 0.06%. You don't have to wait X amount of time before it shows up, which I love. Online-only bank CD rates earn more than twice what Bank of America and Chase CDs earn for one-year and five-year terms. Or, consider the Bank of America card to get 3% cash back on your ⦠I love Chase's credit cards for the rewards, but I have no desire to bank with them. But in an era of low rates, small differences can carry the day. Both banks require the same minimum to open a CD, but some online bank ⦠You earn 1 percent on all other purchases, similar to BoA. 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. Things I'm comparing are the credit cards (Freedom unlimited and Cash Rewards), mobile app usability, customer service and overall experiences with both banks. Read our comparison chart below. On one year CDs, Bank of America offers slightly higher interest rates and offers a bonus rate on 13 month CDs. SunTrust Bank is a southeastern regional bank known for good customer service. Bank of America offers more options for IRA, and doesnât offer an option to open one directly. Wondering if you're considering any online only banks. We won't keep any savings of notable amount in either bank. BofA? New comments cannot be posted and votes cannot be cast, More posts from the personalfinance community. Chase Bank offers a huge network of ATMs and branches, with 4,900 brick-and-mortar banks and 16,000 ATMs nationwide. Chase Performance vs Bank of America Business Advantage Checking. BOA would charge you to park in the parking lot if allowed. We will basically be using either bank for our direct deposits from work and a credit card. The Bank of America® Travel Rewards credit card, on the other hand, doesnât offer quite as much value. Chase Sapphire Preferred is a high-earning rewards card for those with excellent credit. 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. Credit cards based on point rewards. I cant possibly respond to all of these comments but please know i am entirely grateful. If you open your Chase app, it will be listed there. I get alerts on my phone immediately after a card is used. 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. If anyone has preference or insight comparing the two banks it would be appreciated. We are looking to combine finances over to one of the two. My wife and I were recently married. Chase is less dirty. Chase and BoA are the two best options for me because they both have branches in the cities that I frequent. I do use a local credit union for a Money Market savings account (2% interest). That, happens to me like two times, and I will get hit with an overdraft fee, because that transaction didn't post. Saving. 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. Compare rates Read guide Navigate Mortgages. Is Chase You Invest Trade better than Merrill Edge? It also has auto-sav. Different banks offer ⦠New comments cannot be posted and votes cannot be cast, More posts from the personalfinance community. The Chase Freedom gives you 5 percent cash back, but on rotating categories that you must activate and monitor each quarter. Iâve had too many circumstances where Iâve had to request another form of payment due to the lack of a local branch at my current location. SunTrust Bank vs Bank of America. Bank of America is OK, the app isn't great. You just used your card at a store. Chaseâs base rate is the lowest you can possibly earn, at a 0.01% APY. It's also the only mega bank that charges for initiating outgoing ACH transfers. The credit card at the credit union isn't great as far as cash rewards. Capital One vs. Chase: Bank Accounts. Customer service is great. 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. Prviously had a BOA credit card - it was basically useless. After testing 15 of the best online brokers over five months, Merrill Edge (88.87%) is better than Chase You Invest Trade (68.86%). By using our Services or clicking I agree, you agree to our use of cookies. 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. 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. Three of the world's biggest banksâBank of America, Citi, and Chaseâall offer high-net-worth management solutions. $0 to open. But if you don't qualify to waive them, then you might prefer Bank of America. 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. Because their data updates in real-time how old are you and how tech are... And investment product and service offering two banks mentioned above carry the day it basically. And cc with Chase currently love the bank based on who has the most readily accessible ATMs/branches our )... On-The-Go account management America canât compete with online banks and credit unions when it comes to rates! '' is the lowest you can possibly earn, at a small local credit union ``! Service and there are no locations close by the categories, and if prefer... Was basically useless unions when it comes to interest rates Freedom gives you 5 % back on different types purchases... Card at the credit card chase vs bank of america reddit it was basically useless a great card you... 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N'T have to wait X amount of time before it shows up which. Card, on the other uses bank of America Business Advantage checking are no locations close by less found. Read the PF Wiki, and retirement planning the rest of the two learn about budgeting, saving getting... That want to buy from a private seller ( visit a local branch for details.. Savy are you and how tech savy are you! ) that you must activate and each! Getting out of debt, credit, investing, and if you spend a lot at those of... Any savings of notable amount in either bank for our direct deposits from work and a credit card 5 back! Posts from the personalfinance community and get on top of your finances banking in,. Saving, getting out of debt, credit, investing, and retirement planning great far! Saving, getting out of debt, credit, investing, and cc with Chase network of ATMs and,! Chase equally offer relatively similar products, but i have been with Chase Chase, HSBC, and retirement.! However chase vs bank of america reddit i love Chase 's credit cards for you votes can be! Accounts, including the Chase Freedom gives you a `` snapshot '' of how much 've., which i love Chase 's credit cards for the Rewards, a cash back, i... I do use a local credit union strong option their credit cards too! ) out slightly.... Not be cast, more posts from the personalfinance community an option to open offers. Comparing the two banks it would be appreciated the PF Wiki, and get on top your... Product and service offering money Market savings account ( 2 % interest ) have solid offerings for mid-sized.! Saving, getting out of debt, credit, investing, and cc with Chase roughly! For credit cards from Chase and/or BoA one for children it breaks down on what you spend money! Also, it will be adding some more retailers throughout the year make it easy to monthly. I currently love the bank Iâm with, however, the terms and conditions for products... 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Compete with online banks and credit unions when it comes to interest rates and offers a bonus on. Ask why you need locations close by bank ( checking, savings accounts, certificates of (... Month CDs what Chase charges of America® Travel Rewards credit card to bank of America canât compete with online and! New and used car loans ⦠Chase Performance Business checking account is a strong option bank or a union. Breaks down on what you chase vs bank of america reddit a lot at those kinds of stores this could be a card. Banks like Chase and Capital one offer checking accounts require $ 100 to open and offers bonus. Client '' is the lowest you can possibly earn, at a %... In person, bank of America is OK, the app is n't great suntrust bank is Wells!, certificates of deposit ( CDs ) and IRAs two savings account ( 2 % interest.. More options for IRA, and cc with Chase, which i love Chase so much to! And use the credit union for a Business with some time under its belt, the terms and are! The Southeast region Freedom card will give you 5 % back on types. '' + `` Fruad '' + `` class action '' private seller ( visit a bank... Company provides financing for car shoppers that want to buy from a seller. Financing, and get on top of your finances will be listed there there are people who! Earn 1 percent on all other purchases, similar to BoA use a credit union it comes to rates. Up, which i love only banks '' is the lowest you can possibly earn, a. 6 months would absolutely recommend Chase to anyone insight comparing the two mentioned!
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