Debit cards: $50 spending limit coming?


Blake Ellis
CNNMoney.com
March 10, 2011

Editor’s note: Another good reason to use cash instead of plastic.

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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