JPMorgan Chase Places Limits On Cards Used At Target Stores

Saturday, December 21, 2013

JPMorgan Chase says it is placing some limits on debit cards used at Target stores recently.

NBC News and Reuters report that some customers would be limited to $100 in cash withdrawals and $300 in total purchases per day.

The announcement comes a day after Target admitted that a security breach could have compromised the security of 40 million credit and debit cards.

"We realize this could not have happened at a more inconvenient time with the holiday season upon us," Chase, the largest bank in the United States, told its customers on its website. "We are taking these precautions to combat fraud and prevent criminals from using Chase cards."

Reuters reports that about 2 million accounts are expected to be affected by the limits.

Meanwhile, Target announced that it was offering 10 percent off for people who shop at the store on Saturday and Sunday. The company also said it would be offering "free credit monitoring services," but it has not provided details on what that means.

"We want to emphasize that the issue has been addressed and let guests know they can shop with confidence at their local Target stores," Target CEO Gregg W. Steinhafel said in a statement.

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Source: NPR


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