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New Chase policy (Oct 2016): No Annual Fee refund >30 days after AF billed.

New Chase policy (Oct 2016): No Annual Fee refund >30 days after AF billed.

Old Nov 6, 2016, 11:57 pm
  #16  
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I think you trimmed too much of the message from the prior statement for us to provide an answer based just on your post. Further, I'd be leary of relying on answers from the community. Use the secure message feature while logged in to your Chase account to ask your question; that way you have proof in writing of what an actual Chase rep told you, should things not go as expected.
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Old Nov 20, 2016, 9:32 am
  #17  
 
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Just called Chase today to cancel my Ink Plus. Annual fee posted 10/1. CSR said there is a 30 day cancellation for refund. No retention offer, and no downgrade possible to waive annual fee. This new policy is really bad.
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Old Nov 20, 2016, 10:38 am
  #18  
 
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Originally Posted by flyerfrog
Just called Chase today to cancel my Ink Plus. Annual fee posted 10/1. CSR said there is a 30 day cancellation for refund. No retention offer, and no downgrade possible to waive annual fee. This new policy is really bad.
See post #12; you should be able to downgrade to Ink Cash and it will automagically prorate the AF refund without having to ask.
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Old Sep 12, 2017, 5:46 am
  #19  
 
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Does Chase still offer prorated annual fee refunds for downgrades outside of the 30 day window? The annual fee for my CSR hit 9/1 and am trying to decide if I should keep it until after the first of the year to get the $300 travel credit.
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Old Oct 17, 2017, 5:38 pm
  #20  
 
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If I wanted to cancel 90 days after the AF post, is there any reason I wouldn't just downgrade, let the AF pro-rated refund post, and then cancel?
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Old Oct 17, 2017, 7:21 pm
  #21  
 
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Originally Posted by Happy
https://www.reddit.com/r/churning/co...refund_policy/

No prorated refund. Applied to all JPMC cards. Came in effect just a few days ago.
That reddit thread you linked to is from 12 months ago. I'm not sure that confirms a policy you state in the OP was implemented five days ago.

I don't doubt there is a new policy - I just don't think a year old thread on reddit confirms it unless it was written by a psychic.
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Old Oct 17, 2017, 7:22 pm
  #22  
 
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Originally Posted by shenvatele
Does Chase still offer prorated annual fee refunds for downgrades outside of the 30 day window? The annual fee for my CSR hit 9/1 and am trying to decide if I should keep it until after the first of the year to get the $300 travel credit.
Originally Posted by pallhedge
Here's my understanding of Chase's annual fee refund policy. Please correct if you've had a different experience.



For downgrades the policy has not changed:
  • full refund within 30 days
  • prorated refund after 30 days
  • always automatic
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Old Oct 17, 2017, 7:49 pm
  #23  
mia
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Originally Posted by Diplomatico
That reddit thread you linked to is from 12 months ago.
Note that Happy's post is also 12 months old, from October 2016.
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Old Oct 18, 2017, 6:11 am
  #24  
 
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Originally Posted by pallhedge
For downgrades the policy has not changed:
  • full refund within 30 days
  • prorated refund after 30 days
  • always automatic
Correcting myself a year after the fact. The first 2 bullet points should be:
  • full refund within 60 days
  • prorated refund after 60 days
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Old Oct 18, 2017, 7:09 pm
  #25  
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Originally Posted by Diplomatico
That reddit thread you linked to is from 12 months ago. I'm not sure that confirms a policy you state in the OP was implemented five days ago.

I don't doubt there is a new policy - I just don't think a year old thread on reddit confirms it unless it was written by a psychic.
Pay attention to WHEN the original post was made - it was made a year ago when I first found out this from a Chase manager. Then I also found the related thread in reddit, with the same info.

Originally Posted by mia
Note that Happy's post is also 12 months old, from October 2016.
Thank you for pointing this out. Hard to believe it has been a full year now and there are still confusions on the refund policy.

I would not count on the downgrade pro-rated refund would last once Chase notices how people taking advantage on that so they can claim another year's $300 credit PLUS having a pro-rated refund. Chase might put yet another immediately effective policy to stop that, just like it implements the ONE Sapphire card policy on August 27 via an internal memo to the bankers. Remember, the no refund after 30 days policy was also put in effect suddenly via an internal memo. This seems to be Chase way to put in more restrictive measures these days.

Last edited by Happy; Oct 18, 2017 at 7:16 pm
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Old Nov 13, 2017, 11:26 am
  #26  
 
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Want to see if I understand this correctly:

My CSR annual fee posts November 4th. I pay for the $450 fee. Next statement hits on December 4th and the $300 travel credit resets. I use that credit within a few days. About mid December I have two options:

1. I can product change to a Chase Freedom Unlimited. Since this is a product change and I'm within 60 days of the annual fee posting, I receive a full refund of that $450 fee. If I downgrade after that 60 days (approx Jan 1) I would receive a pro-rated refund.

2. I can close down the CSR without doing a product change. Since I'm over that 30 day window I receive no refund at all.

Is that correct?
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Old Nov 14, 2017, 6:12 am
  #27  
 
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Originally Posted by Jesperss
Want to see if I understand this correctly:

My CSR annual fee posts November 4th. I pay for the $450 fee. Next statement hits on December 4th and the $300 travel credit resets. I use that credit within a few days. About mid December I have two options:

1. I can product change to a Chase Freedom Unlimited. Since this is a product change and I'm within 60 days of the annual fee posting, I receive a full refund of that $450 fee. If I downgrade after that 60 days (approx Jan 1) I would receive a pro-rated refund.

2. I can close down the CSR without doing a product change. Since I'm over that 30 day window I receive no refund at all.

Is that correct?
Yes, both of these are correct based on Chase's current AF refund policy.
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Old Nov 15, 2017, 9:56 pm
  #28  
 
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I'm glad this thread has a fresh update!

My annual fee on CRC posted a few days ago. Rather than downgrading immediately, I certainly would prefer waiting until some time in January and getting another $300 credit.

Based on the posts here, looks like I should receive pro-rated refund after 60 days. I couldn't find clear description of that from Chase. Do they post their refund policy anywhere?

I found a copy of the membership agreement but it doesn't have any info: https://www.chase.com/content/feed/p...e/COL00059.pdf
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Old Nov 17, 2017, 2:12 pm
  #29  
 
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Originally Posted by Yoksel
I'm glad this thread has a fresh update!

My annual fee on CRC posted a few days ago. Rather than downgrading immediately, I certainly would prefer waiting until some time in January and getting another $300 credit.

Based on the posts here, looks like I should receive pro-rated refund after 60 days. I couldn't find clear description of that from Chase. Do they post their refund policy anywhere?

I found a copy of the membership agreement but it doesn't have any info: https://www.chase.com/content/feed/p...e/COL00059.pdf

I believe if you cancel WITHOUT doing a product change you will not receive any sort of refund after 30 days.

Product change before 60 days, full refund. Product change after 60 days, prorated.
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Old Nov 18, 2017, 6:54 am
  #30  
 
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Originally Posted by Jesperss
I believe if you cancel WITHOUT doing a product change you will not receive any sort of refund after 30 days.

Product change before 60 days, full refund. Product change after 60 days, prorated.
Is it 30 days from when the specific daye if the annual fee charge or 30 days from the statement period beginning or end date?
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