Consumer complaint received 2018-03-07
Product: Credit card or prepaid card — General-purpose credit card or charge card
Issue: Fees or interest — Problem with fees
Company: JPMORGAN CHASE & CO. (NY)

On XX/XX/XXXX, I received my statement for my Chase Sapphire Reserve card, which included the {$450.00} annual fee. A copy of this statement is attached. 

I was unsure whether I wanted to keep the card due to my dissatisfaction with the Chase Ultimate Rewards travel portal. ( This is irrelevant to this complaint, but in case anyone at Chase wants my feedback- I was dissatisfied with the Chase Ultimate Rewards travel portal because many international airlines found on XXXX XXXX XXXX XXXX, etc, are not bookable through the travel portal at the rate of XXXX cents per Ultimate Rewards point, which is a published benefit of the Chase Sapphire Reserve card. ) Because I was thinking about cancelling the card, I inquired with Chase customer service to clarify the refund policy on the annual fee. 

While I was already aware that I would have 30 days from the statement date ( that is, from XX/XX/XXXX, or until XX/XX/XXXX ) if cancelling the credit card to receive a full refund of the {$450.00} annual fee, I wanted instead to inquire about product changing the card to one with no annual fee. Because Chase has no published policy as to the refund of annual fees, and after having been told different things over the phone with their customer service team, I reached out to their customer service department via Secure Message on their website to get an answer in writing. 

On XX/XX/XXXX, I was told over XXXX XXXX that I would have 60 days from the annual fee bill date to receive a full refund if performing a " product change '' and downgrading to another Chase card with no annual fee. A copy of this Secure Message is attached. 

This answer was unclear as to whether the 60 days was calculated from the date the annual fee posted to the account ( from XX/XX/XXXX, until XX/XX/XXXX ) or 60 days from the date of my statement ( from XX/XX/XXXX, until XX/XX/XXXX ). In a follow-up Secure Message on the same day, I was told that the annual fee refund policy was 60 days from the date of my XX/XX/XXXX statement. This policy is consistent with the policy that is in place when cancelling a card completely, which is 30 days from the statement date. 

On XX/XX/XXXX, I verified this policy with Chase 's social media team on XXXX, who assured me that I would receive a full refund of the annual fee if product changing to a card with no annual fee within 60 days of the statement date ( from XX/XX/XXXX, until XX/XX/XXXX XXXX. A copy of this conversation with Chase 's social media team on XXXX is attached. 

On XX/XX/XXXX, I product changed my card from the Chase Sapphire Reserve to the Chase Sapphire ( with no annual fee ). On XX/XX/XXXX, I received only a partial refund of {$370.00}, representing a prorated amount of the {$450.00} annual fee. After inquiring over Secure Message as to why I only received a {$370.00} refund instead of a {$450.00} refund, I was told that because the product change was completed past 60 days from XX/XX/XXXX ( XX/XX/XXXX ), I would not qualify for the full refund. A copy of this Secure Message exchange is attached. 

I mentioned in another Secure Message ( attached ) that I was entitled to a full refund because I was told in writing that I had 60 days from my statement date ( XX/XX/XXXX ) to receive a full refund of the annual fee. I was told that the matter would be escalated, and on XX/XX/XXXX, I received a letter in the mail stating that a full refund would not be offered, in spite of what I was told over Secure Message and on Social Media.