Originally Posted by
joe_miami
Lawyering up is horrendous advice. Chase and other banks can close accounts for just about any reason. A former customer who shows up with a lawyer is going to remain a former customer.
While the banks can close accounts for any reason (it is stated in the T&Cs all to their favor), but if your goal is to just recover the confiscated points, then you do have some avenue to do so.
For example Citi has now opted to settle account closures if the customer is represented by one of the two law firms that Citi has now have an agreement on settlement - there is a formula to calculate and each account being closed, would receive settlement.
Chase has long learned its lesson that confiscate the UR pts would actually cost the bank far more money than the points being confiscated. That is why now Chase gives you 30 days to dispose your UR balance, AND Chase would refund any AF billed on your accounts, in full and automatically.
Also many customers who have fought Citi in the Small Claim Court do return to become customers again.
Even Chase, there are some very sporadic DPs that customers who fought thru legal channel on the confiscated UR balance, also returned to become customers again.
Though with Chase no longer confiscate people's UR balances, probably nobody would want to fight to get his Chase account reinstated when the person has not suffered materially.