$50 Debit Card Maximums?

Writing checks may start looking like a good idea again.

Debit card issuers, including JPMorgan Chase, may soon limit how much you can spend with your debit card.  Rumor has it that they may set limits of $50 to $100 per transaction.

New rules limit how much banks can charge retailers when you pay with plastic.  As a result, banks are finding ways to make up for lost revenue and limit their risk.  Rising ATM fees, fewer free checking options, and debit card limits are among their first strategies.

Learn more about a possible $50 cap on debit card purchases.  [via Consumerist]

Further reading:

• Debit or Credit?