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JPMorgan Chase (NYSE: JPM) is one of the largest and oldest banks in the world. It is based in Manhattan, and has leading business units in investments, financial services, asset management and private equity. As of early 2019, Chase has assets of 2.6 trillion US dollars, making it the largest bank in the United States, ahead of its "Big Four Banks" competitors: Bank of America, Citigroup and Wells Fargo. Though the bank and its president/CEO Jamie Dimon have come under increased scrutiny over the past few years, JPMorgan Chase continues to dominate the global consumer banking industry.
Chase is one of the world's most recognizable brands. Its many diverse products include credit card services, mortgage loans, and retail and online banking products. It also has QuickPay, CDs, car loans, savings accounts, and other consumer finance products. Chase Home Mortgage offers diverse residential mortgage products such as 30 year fixed, 15 year fixed, 5/1 ARM, and VA Loans. Over the past few years, Chase's mortgage division has consistently been among the top originators in the United States.
One of the biggest advantages that Chase Bank offers to consumers is its nearly unmatched convenience. As of this writing, Chase operates over 5000 branches and more than 16,000 ATM locations across America. Additionally, you can find a Chase location in more than 60 countries around the world, making Chase a bank of choice for those who frequently travel nationally or internationally. No matter where you go, you will very likely be able to find and utilize a Chase branch or ATM.
Chase Bank also offers almost every financial product that you can think of all under one roof. If you're looking to work with just one bank for your home loan, certificates of deposit (CDs), savings/checking accounts, and so on, you will be able to do so with Chase. Furthermore, you can manage all of these accounts online or via your mobile device. Chase Bank has invested heavily in its online banking services and mobile banking applications; every year they spend more than $11.5 billion on technological innovations to improve the safety, effectiveness, and ease of their banking products and platforms.
For those who want to monitor their credit score, Chase also offers Chase Credit Journey. This tool allows customers to see their credit score for free, which is very useful if you’re trying to get a loan, applying for a job, or even to watch out for fraud and identity theft. You can even check your score from week to week without any negative impacts, and simulate how applying for more credit or paying off your debts would affect your score.
As you can see, there are many reasons to bank with Chase. That said, there are also reasons to consider looking elsewhere. The first reason is product expertise. If you are looking for a home loan, for example, it may make sense to work with a mortgage banker that has specialized in originating mortgage loans. A mortgage banker’s loan officers may do a better job of explaining your options, and it's very likely that the entire process will be faster. The second reason is price. Though Chase and the other large banks offer convenience and a wide array of products, it is also generally more expensive to bank with them. Third, if you work with a community lender or credit union, you will be working with a bank that's more connected to your community and may be willing to go above and beyond with its customer service.
Ready to find the right lender for your mortgage, CDs, savings accounts, and more? See how Chase Bank's interest rates stack up against other top national and community lenders today!
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