Consumer complaint received 2022-08-12
Product: Credit card or prepaid card — General-purpose credit card or charge card
Issue: Other features, terms, or problems — Problem with rewards from credit card
Company: JPMORGAN CHASE & CO. (NY)

Hello, This particular complaint relates to a credit card account I held at Chase Bank ( " Bank '' ). I called the Bank 's customer service support line to close the credit card account on XX/XX/2022 and received confirmation it was successfully closed. At the time of closure I held XXXX Chase Ultimate Rewards ( " UR '' ) points which equate to a cash value of {$1200.00} or if transferred to airline partners can be leveraged to purchase a 1-way first class ticket to several destinations with a cash value of approximately {$8000.00}. 

On XX/XX/2022 I logged into my Chase account with the intent of utilizing my UR to purchase a first-class ticket. I observed that the points have been removed from the account and my balance at XXXX. I will mention that at this time, and at present, I hold an additional account with Chase with an active UR balance and was initially surprised to see that the balance has reached XXXX. I called the Chase customer service support line who then explained that UR remains on a closed account for 30 days. I explained that I still maintained an active UR balance through additional accounts held at Chase. The Chase representative explained that points are attached to a particular account and must be transferred to an active account in order to be kept. I explained that this was not clear in the account closure script read by the initial representative on XX/XX/2022. The case was then escalated to a level 2 support and I was told I would be contacted in approximately a week. 

On XX/XX/2022 I still have not been contacted and decided to reach Chase once again by phone. I contact customer service who explained the initial escalation was not made correctly within internal systems and would have to be re-escalated. This would then prolong the investigation and decision of the lost points another week or so. 

I received a letter approximately 1 week later which explained that the points will not be returned. I may add that an incorrect date of escalation was also referenced in the letter. I called customer service upon completing my review of the letter who explained that the investigation listened to the recordings and explained the customer service rep followed the correct account closure scripts which called to UR points within 30 days of closing an account. I explained that the term redemption is not very intuitive when considering it is an umbrella term for also transferring. I explained that the account closure rep did not act in a best practice in reminding me to transfer the UR points to my active account. I also made clear that this is a Chase internal policy and was not aware of any banking regulation connected to a mandate that Chase must wipe rewards points within 30 days of a card being closed. After discussing at length it was the Bank rep who hung up the phone call first and I am of the position I was not fully gaining all of the possible escalation paths available to me for my issue. 

It appears that practices of the Bank are somewhat deceptive where the Bank presents enticing rewards miles benefits to attract additional customers however then targets specific ways to have those same benefits revoked. The staff made errors in escalation which appear to have purposely delay the process. The Bank additionally made a data error within letter sent to me. I have been a customer of the Bank for almost 20 years. It was the first banking institution I opened an account with, I have moved many funds through the bank, held consistent deposits and have always sought out Chase first for any banking need. 

Thank you