Originally Posted by
jsk1973
Arbitration is probably more costly for the consumer. Banks have staff attorneys; most consumers don't.
Arbitration costs nothing to the consumer except for perhaps a $200 initiation fee and most of the time the bank is required to reimburse you. Arbitration costs banks a small fortune and threat of even initiating it is likely to have them capitulate. More than likely they will give you back your 200,000 points to avoid paying AAA $10,000.
I have gone down that path before and it was comical how fast the bank gave up.
Read the costs section:
http://info.adr.org/consumer-arbitration/