Chase aims to cherry-pick best business customers

We all know that Chase has been slashing and burning its customer base, especially among small-business customers, who often finance their operations in the short term with credit cards.

Well, Chase is showing again that rather than being a community bank that is committed to fair and reasonable lending practices, it is only looking to cherry-pick the creme of the crop of customers.  At least, that is how Bloomberg Business Week sees it.  Their latest volley, a seemingly innocuous promotion that offers companies a reduction in interest rate on credit lines for hiring new employees.  Business Week thinks they are trying to attract the best strong (financially speaking) customers from other banks.  I read it a little differently.  Perhaps they are trying to identify which of their current customers they want to hold onto, or conversely, which additional customers they will motivate to leave them.

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