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After three years as a customer with Chase, and watching my husband use the bank for over a decade, I've got a clear picture of what this giant bank does well and where it really falls short. Spoiler: If you love rewards credit cards, Chase will wow you. But if you're parking savings there, think twice.

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What I like about Chase (hint: the credit cards)

Chase's credit cards are a major win. They have some of the best travel perks, generous sign-up bonuses, and flexible rewards that really match how we spend. Their Ultimate Rewards program makes redeeming points easy and valuable. And if you're a rewards card enthusiast, these cards alone make Chase hard to beat.

But let's get real about savings rates

Chase and other big banks really drop the ball when it comes to savings account interest rates. Chase Bank pays a paltry 0.01% APY. That's 400x lower than what some online banks offer right now. To put it in perspective: if you had $10,000 in a Chase savings account, you'd earn about $1 a year. The same money in a high-yield online savings account could make you around $400 a year.

It's simply the cost of convenience paired with legacy banking. So if you're serious about growing your savings, keeping it at Chase isn't the smartest move.

The fees you need to know

Chase's fees are stuck in the past. The checking account carries a monthly fee that's increasing in August, and you have to jump through hoops to avoid it -- like $500 in monthly deposits or maintaining hefty balances. Meanwhile, many online banks don't charge any monthly fees at all, making Chase's fees seem outdated and unnecessary.

Overdraft fees aren't much better. Chase's Overdraft Assist can help if you're only slightly overdrawn, but these fees add up fast if you're not careful.

So what's a better option?

Chase isn't a scam -- it's fine for convenience and credit cards -- but it's not the smartest choice if you want to avoid fees and earn meaningful interest.

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We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.JPMorgan Chase is an advertising partner of Motley Fool Money. Brooklyn Welch has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends JPMorgan Chase. The Motley Fool has a disclosure policy.

Getting denied for a credit card feels frustrating and, honestly, a little personal. But most of the time, it's not about you. It's about applying for the wrong card or missing a few key steps that can seriously boost your approval odds.

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With a little prep, you can avoid another "no" and finally get the approval you're hoping for. Here's what to know before you apply, and how to give yourself the best shot at hearing "you're approved!"

1. Know your credit score before you apply

Every credit card is designed for a certain type of borrower. Some cards are meant for people with excellent credit. Others are built for beginners. If you don't know your score, you're basically guessing at which cards might fit.

You can check your score for free through Experian, and your bank may offer free credit scores as well. I personally use my Chase app -- it gives me a quick overview of what's helping or hurting my score, and that context matters. (Like when it told me my history was "good" but not "great" because my card wasn't old enough. Annoying, but helpful.)

2. Pick a card that matches your credit profile

This is where most rejections happen. People apply for premium rewards cards when their credit doesn't qualify yet. That mismatch almost guarantees a no.

If your score is still a work in progress, look for cards designed for fair credit or secured cards that require a deposit. These cards aren't flashy, but they're easier to get approved for, and they can help you build your way up to rewards cards.

3. Use prequalification tools

Before applying, see if you're prequalified. It takes a soft credit check (so no harm to your score), and it helps narrow down which cards you actually have a shot at getting.

Most major issuers offer this on their websites. You'll enter some basic info -- name, address, last four digits of your Social -- and see if any cards come up. It's not a guarantee, but if you see an offer, that's a good sign.

4. Lower your credit card balances (if you can)

Your credit utilization -- i.e., how much of your available credit you're using -- is a big factor in your score. Try to keep it under 30%, or under 10% if you really want to look responsible to lenders.

Even paying off a few hundred bucks before you apply can give your score a helpful boost.

5. Don't rush. Apply smart

Once you've found a card that fits your profile, apply online through the issuer's site. Have your personal info and income ready. And only apply for one card at a time -- too many applications can temporarily ding your score.

Bottom line

Applying for a credit card doesn't have to feel like a shot in the dark. With a little prep and the right card, you can turn a string of rejections into your first approval, and start unlocking the rewards and credit-building benefits that come with it.

We've reviewed hundreds of credit cards to find the ones that actually deliver -- whether you're rebuilding, starting fresh, or finally ready for rewards. Compare top picks side by side and find the one that fits you.

Alert: highest cash back card we've seen now has 0% intro APR into 2026

This credit card is not just good – it's so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!

Click here to read our full review for free and apply in just 2 minutes.

We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.JPMorgan Chase is an advertising partner of Motley Fool Money. Brooklyn Welch has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends JPMorgan Chase. The Motley Fool has a disclosure policy.

Image source: Getty Images

Somehow I blinked, and it's July?! That means we're halfway through 2025.

Looking for a secure place to grow your savings? See our expert picks for the best FDIC-insured high-yield savings accounts available today - enjoy peace of mind with competitive rates.

If your finances haven't exactly been front and center lately (relatable), now's the perfect time to check in. You probably don't need an overhaul -- just a few smart tweaks to set yourself up for a stronger second half of the year.

Here are three slip-ups I see all the time, and a few ways I've personally turned them into upgrades.

1. Letting your savings sit in a low-interest account

I used to keep most of my savings in a big-name bank that barely paid any interest. My balance sat there earning less than a dollar a month.

Eventually, I switched to a high-yield savings account, and the difference was immediate. My money started earning meaningful interest, and I didn't have to change anything else.

2. Overpaying for car insurance

Car insurance rates are up this year, but that doesn't mean you're stuck paying more. I recently helped a friend compare quotes, and she ended up saving over $400 annually -- with the same level of coverage -- just by switching providers.

When it comes to your insurance company, loyalty rarely pays off. It's worth shopping around even if you think you're getting a good deal.

It takes five minutes and could put a chunk of change back into your budget for road trips, concerts, or literally anything more fun than auto insurance. Take a look at what other providers are offering -- you might be surprised.

3. Earning nothing (or paying too much) on your credit card

If your credit card isn't doing anything for you, you're probably missing out.

Whether it's cash back, travel points, or a long 0% intro APR, there are cards that reward you just for using them. And many come with welcome bonuses that are worth hundreds of dollars.

If your current card isn't pulling its weight, it's time for an upgrade. Check out our top credit card offers and find one that works harder for you.

Small moves, big payoff

These aren't major money moves -- just low-effort upgrades that can add up fast. And the sooner you make them, the more time they have to work in your favor.

So here's your friendly nudge: Do a quick midyear money check-in today. Your future self (and your December bank account) will thank you.

Alert: highest cash back card we've seen now has 0% intro APR into 2026

This credit card is not just good – it's so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!

Click here to read our full review for free and apply in just 2 minutes.

We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.