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March 10, 2011

Debit cards: $50 spending limit coming?

Well @DaveRamsey, what do you have to say about this?

Amplify’d from

Debit cards: $50 spending limit coming?

Debit card limit

NEW YORK (CNNMoney) -- Declined! Your debit card may soon be denied for purchases greater than $100 -- or even as little as $50.

JPMorgan Chase, one of the nation's largest banks, is considering capping debit card transactions at either $50 or $100, according to a source with knowledge of the proposal.

Why? Because of a tricky thing called interchange fees.


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