Originally Posted by
Los_Pepes
Yes. I would have gone to ARB before small claims. The filing fee for small claims is generally higher than the consumer arb fee. Arb fees charged to a bank are separate and exclusive from lawyer fees. They can rack up quickly and banks do not like to pay them on small disputes. Also rules of consumer arb are much more user friendly and you are less likely to have your case tossed from a procedural error.
All of that being said, it looks as if this strategy does not apply to anyone who opened an account after 2010. I looked into it this morning and the arb clause was removed from Chase's agreements in 2010. This really would only apply to those who had accounts open before then. Small claims would be the only option for those who are bound by an agreement after 2010.
That would explain why people on this long thread have to go to SMC instead.
On the Citi closure thread, it also seems SMC is the only avenue. Could very well be the same situation as the Chase cards.
Yes, I know someone whose SMC claim was thrown out on procedure issue but he was able to refile and eventually won by default because Citi did not show up on court date. Yet he still had to contact Citi to get what was owed him plus interest as Citi never sent it automatically after court ruling.