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.

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 Meanwhile, many online banks don't charge any monthly fees at all, making Chase's fees seem outdated and unnecessary.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.