Chase Raises Limits On Debit Cards Used At Target Stores

On Saturday, JP Morgan Chase became the first major bank to place limitations on their customers’ debit cards that were possibly affected by the Target security breach.

Chase placed a daily limit of $300 in purchases and $100 in cash withdrawals on the nearly two million debit cardholders. This is estimated to be about ten percent of Chase debit card customers.

Today, Chase raised those limits to $1,000 in transactions and $250 in cash withdrawals, according to a statement by the bank.

The bank is not placing any limits on their credit cardholders at this time. These limits are in place until cardholders can receive a new debit card.

Chase kept about one-third of its branches open on Sunday to help answer customer questions.

In other news concerning the breach, Target is trying to restore consumer confidence by offering a 10% discount throughout the store to patrons completing their last-minute holiday shopping.

The nationwide retail company has also begun offering free credit monitoring for consumers who may have been affected by the credit card breach. simplifies the confusion of shopping for credit cards. It is a free, independent website that helps consumers easily compare credit cards in a variety of categories such as lowest rates, rewards, rebates, balance transfers and lowest introductory rates. It also gives an unbiased ranking and review for each card. The Complete Credit Card Index is the most objective and comprehensive resource on the Internet which allows consumers to compare rates for over 1000 credit cards offered in this country. Created by Hampton & Associates, the company has been analyzing the credit card industry and supplying objective websites on various consumer expenses for 13 years.

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