I’m Now a Chase Checking Customer

Well, it’s official. I’m now a Chase Bank (JP Morgan Chase) checking account customer. Yep, I’ve migrated from my current bank (although I still also may keep that checking account open as well, for various convenience reasons) to Chase, because it is looking like they will now be my new official single mortgage loan holder.

That’s if everything goes well, and they are able to refinance our home and combine the two loans we currently have, one through them and one through another mortgage lender where we happen to be getting the you know what beat out of us with a high interest rate (it’s a secondary loan, to cover the down payment so we didn’t have to pay the PMI, so they always charge you out the wazoo for that privelege, knowing what I know now, I sometimes wonder if the extra percentage points on our mortgage loan were even worth that knowing what I know now).

Hey, sometimes I guess you wish you would have done a little more homework before buying your first home, but when it’s all literally greek to you, it’s a bit hard to wade through the options and actually know what the right option is for you and your family in the end. It’s a leap of faith at some point, and most certainly a learning experience.

At any rate, because the loan is looking good, they talked me into signing up for a checking account through them since (this is a no brainer), they actually will give your 1% of your mortgage balanced per year back in cash, as long as you pay your mortgage bill to them every month on an automated system, through the checking account you have set up with them of course.

I tried to figure out how they benefit from this, and figured it out. They pretty much have control of getting that money from your every month this way, and in this economic climate, that can definitely be worth it’s weight in gold to have more control over your mortgage lendee’s money and when it comes to you, and that it actually comes from an account with you, if your’e the lender.

All in all, Chase offers the best checking account out there. You get a free overdraft purpose credit card, you get so many free nonChase ATM transactions per month, you get free unlimited checks and registers. They have a very sophisticated ATM machine that just scans your checks instead of using sloppy deposit slips, and they also have the best online banking system I’ve seen in a while. I’m very happy I switched, now let’s just hope they can combine our mortgages, right!?