Chase AARP Visa: 5% cashback for first 6 months

jaja23 said:   I got a check in the four figures, and my friend got one in the five figures. We both previously filed complaints to the cfpa, but the check showed up 2 months after the complaints were filed. Must be a reason behind this , it seems like they did this to avoid costly lawsuits . Chase usually doesn't give ice in the winter. Cheap mother f-ckers.
Jaja can you please edit out your name from the letter and post a scan or take a camera phone picture of the letter ? Or you can also fax it to me

Does not read very much like "good faith". Reads like Chase, beyond not admitting wrong doing, is actively asserting it was (a) correct, (b) fully within its rights, (c) by implication did not bait and switch, but (d) is concerned about the costs and image implications of federal investigation, and (e) potentially believes it could lose an investigation, so it is (f) paying up hoping the whole issue goes away and the investigations which could result in large penalties will stop since (g) there was no harm done

Looks like Nancy stoneman is hand signing these , unless they have a robosigner doing it

Chase just keeps digging their own grave

Will be interesting to see if anyone got a check if their accounts were closed last year.

awstick said:   Woohoo, check received for 2k and change. No letter enclosed, just a cashier's check sent overnight mail. I had previously filed complaints with the CFPB and BBB, was told to go to hell, and then out of nowhere weeks later I get monies. It's a strange way of handling things but looks like they are making good.

Again, the govt tends to dismiss individual complainers, but its the number of reports that are coming in that make all the difference. Your efforts in filing your complaints may have seemed useless at the beginning, but these things are "tallied" and when a pattern develops that shows its not just a couple disgruntled customers, then the tables turn

For those to whom Chase has refused to refund credit balances, whether through redeeming rewards with a statement credit and/or cancelling transactions, I think they also should file with the CFPB and OCC, if they haven't already. I think one person (ctrix65513?) was previously unsuccessful with CFPB. I recommend he/she get back in touch with them and demand re-opening the investigation.

tuphat said:   IMHO -- If Chase is taking this action because of regulator direction or pressure, I think the letter would have had a more conciliatory tone. Contrast with letters sent as a result of robo-signing settlements, etc., that have more of a mea culpa tone. The citation of language from the various card and reward agreements seems defensive and preemptive. (Drafting also seems somewhat amateurish/informal, e.g., "it says.") At any rate, if they cash out everyone's unredeemed points, it would seem unlikely that any damages would be awarded.
No one can say for sure, but I think the key sentence is:

"We trust this information and the actions taken will fully resolve this matter."

That indicates to me that Chase is concerned with "this matter" and probably is experiencing pressure from regulatory agencies, fear of lawsuits, and/or fear of bad publicity. IMO, the preceding statements are just an attempt to hide their caving in to that external pressure by saying "Hey, we were just following the terms and conditions (no matter how we abused them or our customers)."

OK, I made up the parenthetical part.

MikeR397 said:   In light of this news from tuphat, I'd encourage anyone with any rewards not received on thier closed Chase card to file complaints with the CFPB. Baiting and other inappropriate behavior by Chase should not be tolerated. http://www.consumerfinance.gov/complaint/

I complainted to that website several weeks ago. No response other than they have the complaint.

Rob

No complaints filed, but received 3 checks and 3separate ” nasty” letters about abuse of rewards etc.

Checks total over $4700... Accounts were closed in march by chase.

My results:

Dec: $100
Jan: $350
Feb: $800
Mar: $775
Apr: $875

Total: $2900 over the promo period. No adverse action taken by Chase.

Has anyone who had his accunts canceled applied for new chase cards and been able to get them, or does it appear you were added to some sort of Chase blacklist?

Yes, got a chase sapphire recently, and still have a big balance on the AARP. Had no other CC's with chase at the time.

Chase called me and told me my accounts were being reopened, then I got a letter later saying j/k they are going to remain closed. Hopefully I'm not on a blacklist now but I'll wait at least a few months before I try to open anything.

Has anyone who had other accounts closed along with AARP got those rewards reinstated?

My accounts have been closed since January. Points went from "Unavailable for redemption" to "Points forfeited this period". I have a feeling this is Chase's way of excluding me from any recourse.

elist said:   New question:

I successfully used my AARP card for the promo period with decent success. I've got better rewards cards without the promo. Is there any reason to keep this card open besides maintaining high available credit (which I don't need)?

I'm considering closing the account to limit liability in the case of identity theft/fraud in the future.

Thoughts?
If you are even thinking about voluntarily sacrificing a large credit limit for no reason, you don't belong here at Fatwallet...

BostonOne said:   elist said:   New question:

I successfully used my AARP card for the promo period with decent success. I've got better rewards cards without the promo. Is there any reason to keep this card open besides maintaining high available credit (which I don't need)?

I'm considering closing the account to limit liability in the case of identity theft/fraud in the future.

Thoughts?
I use this as a (domestic) travel-only card for the 3%.

That was my first thought as well. Do you at least have another Chase card to reallocate the limit to?

AARP Endorsements for Chase money, that is how it works.
AARP receives million$ every year from Chase in payment for their exclusive endorsement of Chase products.
These type of endorsements are the major source of AARP's financing.

So, not surprisingly, AARP doesn't want to upset one of their best customers, Chase.

The CFPB seems to be somewhat effective here, getting Chase's attention and some reward refunds.
Chase wants to disrupt any pattern of misbehavior here to shore up their case in the class action lawsuits that will inevitably follow.
They surely don't want any government enforcement actions either.

Thus, a few customers got reward refunds.
The rest of us will have to fight on!

Everybody, keep good records of your accounts!
They will be worth some money when these lawsuits get settled eventually.

I hate government intervention however these point programs have become so large, I think there are laws needed to protect the consumer. We can cancel your points without notice for any reason for example. No cc company should be able to close close your account so the points cannot be used. Clearly any points/paid charged would have to be awarded. If Chase or anyone wanted to close your account, fine as long as you dont or cant lose the points you earned.

I am close to a year since closing but filed my complaint today. Had all but written it off but luckily I still had the card with the account number. Maybe Ill get my points afterall.

capnkidd said:   capnkidd said:   No complaints filed, but received 3 checks and 3separate ” nasty” letters about abuse of rewards etc.

Checks total over $4700... Accounts were closed in march by chase.

Initailly they had closed all my chase cc accounts, but quickly sent letters saying there had been a mistake, and they were only cancelling the AARP card(s).

Were the 3 separate checks all issued for the same AARP card?

I was the one who had my $1800 statement credit reversed and yesterday I suprisingly received the exact same letter posted and a check. It was for a little less than $100. Interestingly enough, I had drained my rewards account via a statement credit (that subsequently was reversed) so I have no idea where this figure came from. I filed complaints months ago with the CFPB, AARP, and multiple Chase executives and even included copies of legal filings I considered filing in small claims court and nothing seemed to help at the time. Maybe I'll recontact them after this turn of events. I kind of wrote the issue off until receiving this letter. Their definately feeling pressure from someone.