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.
Costco will continue to accept debit cards from both Visa and MasterCard. The current AmEx Costco card that is in the hands of many Costco shoppers will be replaced by a Costco Visa card that is issued by Citigroup.reviously, they were only able to use AmEx credit cards. Visa already dwarfs AmEx in terms of the number of cards that are in shoppersâ hands. There are 281.4 million Visa cards in circulation compared with 54.9 AmEx cards, according to the Nilson Report, a card-industry newsletter.