Chase customers get a refund

March 30, 2009 5:28:16 PM PDT
Good news for Chase credit card customers, a recent fee increase is being rolled back.

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ABC7's 7 On Your Side first brought up this case weeks ago. Chase was changing the rules after roping in customers.

The notice reads: "A new account service charge of $10 a month," and next line down says, "Your minimum payment due will increase from two-percent to five-percent."

Consumers getting the notification had paid a three-percent fee to transfer their balances. The come on was offering a 3.99-percent interest rate for the life of that loan.

Brad Hunt's payment went from $168 to $414.

"It just seems like they are trying to make up for some of their loses because of the downturn in the economy," said Hunt.

The New York state Attorney General, Andrew Cuomo, said "Not so fast."

Now JP Morgan Chase has agreed to stop charging the fee and will reimburse customers for the fees paid so far.

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