Beginning July 22, JPMorgan Chase will no longer charge overdraft fees incurred by purchases that cost $5 or less, according to the bank's checking disclosure notice. The new policy will prevent customers from wracking up outsized fees for small purchases -- like a $34 overdraft fee for a $3 slice of pizza.
Now, more cardholders than ever can earn credit card points and miles at checkout. Costcoâs decision to accept only Visa credit cards was a cost-cutting strategy. But the move is also something of a throwback, reminding us of the â70s and â80s, when networks were the stars of the credit card world. You used to see advertisements from Visa and MasterCard on TV and in magazines.
Credit to CostcoMeanwhile, hooking up with its new partners gives Costco a direct pipeline to a much wider pool of credit card holders. As of the end of 2014, there were 304 million or so Visa credit cards in circulation in the U.S., far higher than the 55 million AmExes.he Motley Fool recommends American Express, Costco Wholesale, and Visa, and owns shares of Costco Wholesale and Visa. Try any of our Foolish newsletter services free for 30 days.