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Deadline to file 3/17/2017
LINK
NATURE OF THE SETTLEMENT
A $2.085 million Settlement has been reached with JPMorgan Chase & Co. ("JPMC") and Chase Bank USA, N.A. ("CBUSA," and collectively with JPMC, "Chase") in a lawsuit where the Plaintiffs allege that Chase violated state common and statutory law when Chase forfeited rewards points upon CBUSA's closure of credit-card accounts. Chase denies any liability or wrongdoing.The Settlement offers payments to CBUSA cardmembers who, between June 2009 and the present, Forfeited Points upon the closure of their credit-card accounts for certain reasons, and were not given the chance to redeem their points after Chase closed their accounts. Chase has identified those individuals and provided them with mail and/or e-mail notice. If you received that notice from Chase, you may be a Settlement Class Member.

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Oh yes, I remember 2009, the great Chase "let's just shut down accounts and slash credit limits of our loyal and responsible customers" festival. I'd just been establishing a credit card profile at the time (I was 24 in 2009) and had opened three cards with Chase around 2006/2007. I paid my bills on time, had no credit issues, and all three cards had credit limits around $2500-5000, which was a big deal for me at that time (mind you, as I've matured, most of my low-end limits are around $15,000 now). And they abruptly took away two of my credit cards (Freedom and a Facebook credit card that existed at the time) with absolutely no warning and for no reason, and took my rewards away. And the third card, an Amazon Visa, slashed from a $3500 limit all the way down to $400.

For what it's worth, I've never completely forgiven them for that. I closed my checking account with them and moved elsewhere (PNC, which of course is also a giant corporate bank but they've always treated me fairly) after that and my business with them since then is limited to exploiting 5% categories on Chase Freedom (which I still sort of regret giving into them on, they gave it to me almost immediately after closing my original one and stealing the rewards I had there).

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There were many people here on FWF in that situation in 2012 and many threads about small claims lawsuits being successful in getting forfeited points value back.  Here is just one of them
https://www.fatwallet.com/forums/arcmessageview.php?catid=52&threadid=1182490
Only pennies on the dollar for the rest of us in this class action settlement.



 

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sloppy1 said:   Only pennies on the dollar for the rest of us in this class action settlement.If you're a member of the class, you can object to the settlement.

They know exactly how many people were affected and how many points were lost, they should be paying at least 1cpp (not at most, as the settlement provides).

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Yup. I remember when they closed down all our Chase cards and I had to fight tooth and nail to get them back.

But 10 points posted later and I received the settlement card.
I am in a big dilemma what to do.....cash in my 10 points? 

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marcopolomle said:   Yup. I remember when they closed down all our Chase cards and I had to fight tooth and nail to get them back.

But 10 points posted later and I received the settlement card.
I am in a big dilemma what to do.....cash in my 10 points? 

  
You should!

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I lucked out. Only had Citi cards back then.

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