Consumer complaint received 2024-06-14 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Fees or interest — Problem with fees
Company: JPMORGAN CHASE & CO.
State: AZ

Complaint narrative:
On XX/XX/XXXX my Chase Sapphire Reserve Credit Card account was opened. Without prior notification, the bank closed my account on XX/XX/XXXX. I was surprised because during this time none of my payments were delayed or carried over ( evidence attached ). I never defaulted. To check if the account was closed in error or had a specific reason I called the bank the same day. I was informed that my credit card was closed and that I would receive details about the closure by mail. I was also told that once an account is closed, it can not be reopened. Therefore, I inquired about the annual fee of {$550.00}, which is paid on XX/XX/XXXX each year. The last annual fee was paid on XX/XX/XXXX ( evidence attached ). I was assured that the fee would be prorated and that the remaining amount would be credited back to my credit card account or issued as a check. I was advised to wait for XXXX weeks. 

XXXX weeks later, I received a letter explaining the reason for the account closure and directing me to call a specified number for further details about the fees and balance payments. When I called that number, I was again told that the fee would be prorated in a few weeks and that if I did not see any credit or refund, I should call credit card customer service number. 

After a couple of weeks passed without seeing any credit or check, I called customer service. The agent/supervisor informed me that the annual fee would not be refunded or prorated because it was past 90 days. When I requested an explanation, I was told that the annual fee is only refunded or credited back within 90 days of being charged. I was very surprised by this response. After XXXX weeks of waiting, I received an unfavorable response. I asked if that was specified in the terms and conditions or any policy. She said it is specified in the terms and conditions. I requested the agent to either email or mail me the documents/terms and conditions that clearly state the policy that the annual fee will not be refunded if the card is closed by the bank or specification related to 90 days period. 

I received the documents in the mail ( evidence attached ). Attached is the only document that I received or was sent. After reviewing them, I did not find any clause stating that the annual fee would not be refunded if the card is closed or any other related information. Please feel free to review the same. 

I feel as a customer, it is my right to know of this information and policies. And since it was not provided either on day XXXX or when requested, and therefore it leads to clear misleading and unfair approach. I would like the bank to refund my annual fee of {$550.00}. I am requesting a refund due to misleading information, miscommunication, and the inconvenience caused. A significant amount of time was wasted following up with agents who provided incorrect information and dealing with the hassles of making changes to autopayments that I had set up. 

It is the responsibility of the bank to provide clear terms and conditions for involuntary credit card changes related to fees and/or closing of the account. In this case the documents provided had the information missing and not specified anywhere in the documents furnished. I feel if the same is missing, I should be refunded the annual fees.

Company response to consumer: Closed with explanation