How to keep your credit score stable in the new year
Chase and Newegg are taking a hard line with their customers who have a Chase Business account, but you may be able to keep it from going away.
The two companies said Wednesday they’re extending the two-year terms of their business accounts.
If you have a credit card, they’re allowing you to renew it for an additional year at a lower rate, and the same goes for your bank account.
But both Chase and its main competitor, MasterCard, are allowing customers with existing Chase Business accounts to get a new one for a fee of $1,000 a year.
Chase said the move is designed to prevent customers from getting stuck with a bad credit score and is aimed at helping it stay ahead of other companies.
Chileans who have Chase Business credit cards will get an additional one-time payment of $600 a year that will apply to their account in 2018.
The same payment will also apply to any new Chase Business cards that are issued.
The move comes as Chase is trying to lure a younger crowd to its card offerings.
It has also been focusing on attracting people with higher incomes and those who have more disposable income.
Chandler, which is owned by U.S. Bank Corp., said the change is expected to have no impact on its business operations.
Newegg, which also owns Chase, said it’s working to make the changes as soon as possible.
The credit-card company said its new account fee will start to apply on Jan. 15, 2018, and will be available for existing customers starting in 2019.
It said customers who already have Chase accounts and wish to continue will be able do so with the same fee.