JPMorgan Chase & Co. Credit Card Complaint

JPMorgan Chase & Co. Credit card department,

Minnesota

I am a long-time holder of a Chase Premier Visa Signature credit card which provides Southwest Rapid Rewards based on charges made. I work out-of-town and use the card frequently. At least once a week I pay all charges, including pending charges, online. This has worked well for years. Recently when checking my credit card account online I noticed a " credit balance refund '' in the amount of $430.00. I called to learn what this was and was adivsed it was a refund for a payment in advance of charges hitting my account. I explained the charges were shown on the account as pending and that this had never happened before. I was further told that the refund had been made by paper check and sent to my address of record. I asked that the check be cancelled and the refund credited to the account for which there were open charges in excess of the credit amount. I further explained I was working out of state for an extended period of time. I was told this could not be done. I then asked why the refund was not made electronically since that is how all my payments are made


is good for 90 days and can then be reissued. I asked why this change in practice had been made and was told it was a requirement of Southwest Airlines. Of course this is not true ; the card is from Chase which offers the Southwest rewards as an incentive to use their card. Having gained no saisfaction by phone, I personally visited a Chase banker in the state in which i am working. He reviewed the situation and did not understand it either. He called the Chase credit card department and was told the same incorrect information as I had been. He talked to his manager and we decided to ask that Chase reissue the check and send it to me in care of the local Chase branch. Chase Visa refused to do so. The banker and I came to the conclusion this new practice had been adopted in an effort to increase interest income on accounts. Most people would not check their account and notice the stealth refund which then becomes a balance due on the account for which interest could be charged. I never carry a balance long enough to owe interest, so this is a clever way to try and cause interest to be due. The answers that checks in the mail are more secure than electronic payments and that Southwest Airlines required this banking practice are demonstrative of the deception the bank is engaged in. i am asking the CFPB to work to change this deceptive practice by Chase.