Consumer complaint received 2026-03-06 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Other features, terms, or problems — Problem with rewards from credit card
Company: JPMORGAN CHASE & CO.
State: AL

Complaint narrative:
I strongly feel that credit card agreements are an informed decision. I am currently a Chase Sapphire Reserve cardholder and have been so since XXXX. Every year I have chosen to pay the annual fee -- that choice is based on the benefits in the cardmember agreement. Simply put, if the benefits no longer outweigh the cost of having the card, I wouldn't renew. For XXXX though, I was not able to make that informed decision. In XX/XX/XXXX, the reward program was subject to an change -- points earned could no longer be redeemed at a XXXX value for travel and instead were at a XXXX. Unfortunately, I had already paid a {$550.00} annual fee in XX/XX/XXXX. In short, I paid {$550.00} for a year but Chase deprived me of 5 months of XXXX earning potential due to Chase 's benefits change. I currently have XXXX points that can't be redeemed for XXXX, so the loss to me is {$320.00}. That's most of XXXX 's annual fee that I could recovered. Chase will probably say that all agreements are subject to change, and they'd be correct. However, to date Chase has not made a good faith attempt to offset the loss in value to me and other cardholders. Specifically, they did not reach out to prorate or refund my XXXX annual fee. This new program is so unfavorable they were giving new cardholders {$1200.00} in points just for signing up, but for existing card holders like me, they took my existing benefits away and stuck with me an increased annual fee. No statement credits, just a disregard for longtime customers. I'm reaching out to the CFPB to ask for protection against predatory practices such as this one, and potential relief. I understand minor changes to terms, like if Chase has an agreement with XXXX, and XXXX terminates the relationship. That's out of Chase 's hands. But when Chase asks customers for hundreds of dollars for an annual fee, and then unilaterally changes the benefit structure, that's predatory. If I were to offer a free XXXX with a customer 's 1000th sub sandwich, charge 10x the price for a sandwich, and then discontinue the program at the customer 's 999th sandwich, the customer would have recourse. At the end of the day, it is not unreasonable for customers to rely on fair dealing. At a minimum, Chase should have extended benefits to the end of the card annual term, or provide equivalent compensation for the lost benefits. A {$500.00} credit to XXXX XXXX only * if * I spend {$75000.00} is not a fair offset for {$320.00}. I had already paid an {$550.00} annual fee for that {$320.00}. I reached out in XX/XX/XXXX with my concerns and was told this could not handled over Chase 's secure messaging portal. They did not provide a reason why it could not have been handled over Chase 's own portal. I have hearing difficulties and this seems solely designed to hassle customers into giving up. In XX/XX/XXXX, I called to see if Chase was willing to make a retention offer. They declined to. I then explained my concern, and was told this information would be passed on as feedback. While I am appreciative of listening to customer feedback, I'd rather be compensated.

Company response to consumer: Closed with non-monetary relief