Chase Takes the Ax to Debit Rewards — Again

Updated
Customer at a Chase Bank
Customer at a Chase Bank

Well, that didn't take long. A little more than a month after we told you how Chase had suspended new customer enrollment into its debit rewards program, the mega bank has announced that it's eliminating reward-earning entirely. According to this article, Chase mailed letters saying it would discontinue rewards in July, blaming the Federal Reserve's limitations on interchange fees.

The New York Times quotes this segment of the letter sent to Chase customers: "Congress recently enacted a new law known as the Durbin Amendment that significantly impacts debit cards...As a result of this law, we will be changing our debit rewards program."

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