Chase to Make Payments to Credit Card Customers - Other News

ADVERTISING DISCLOSURE

ADVERTISING DISCLOSURE:
Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from most credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » News » Other » Chase to Make Payments to Credit Card Customers

Chase to Make Payments to Credit Card Customers

Chase to Make Payments to Credit Card Customers
The content is accurate at the time of publication and is subject to change.

As Chase pitches it, their “Payment Protector Plan” is designed to aid Chase cardholders who are experiencing an upheaval in their lives due to a “qualifying event.” Those events include unfortunate and unexpected things such as divorce, call to military duty and sudden hospitalizations. All payments due on their accounts are frozen anywhere from a month up to two years, depending on the particular event. The price of this peace of mind is “only 89¢ per $100 of your ending monthly credit card statement balance. This fee will be conveniently included on your monthly credit card statement so you don’t have to worry about writing a separate check or missing a Plan payment” according to their website. Should a member invoke suspension for their actions, plan payments are included.

The credit card giant has recently settled a class-action lawsuit filed against it, which claimed that J.P. Morgan Chase did not make the cost associated with their Payment Protection Program clear to all enrolled cardholders. The case accuses Chase of “deceptively marketing its Payment Protection Products,” according to the company overseeing the settlement, Kardtronics. The $20 million dollar settlement comes, despite Chase’s vocal denial of any wrongdoing.

The Chase cardholders that may be eligible to receive a portion of the settlement money are the ones who were charged for a payment protection product at any time beginning September 2, 2004 through November 11, 2010. The settlement checks will be small, ranging from $15 to $60, minus any applicable fees and expenses.

According to another article appearing on the Maximizing Money website, the settlement amount a qualifying cardholder will receive is based upon a variety of factors, such as whether or not they attempted to obtain protection benefits from Chase, if their request was denied or accepted and the total number of individuals submitting a claim in this settlement and the amount. The list goes on.

Claims will either be issued by check or credit issued directly to the cardholder’s account. Any Chase cardholder wishing to submit a claim, who has not already received a post card in the mail with instructions, can go online to Kardtronic’s website and fill out a claim form there. All claim forms must be submitted before Aug. 8 in order to be considered for receipt of a settlement award, so it is of urgent importance.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Add to Favorites:

Related News:

New Vendor Payment option from American Express and Bill.com
New Vendor Payment option from American Express and Bill.com

Posted: February 21, 2019

American Express and Bill.com have teamed up to roll out American Express Vendor Pay, a platform letting businesses make payments using their already existing American Express Corporate or American Express Business credit card. Vendor Pay… Continue reading

Get a 100,000 Bonus Points with the New Marriott Bonvoy Amex Cards
Get a 100,000 Bonus Points with the New Marriott Bonvoy Amex Cards

Posted: February 18, 2019

The new Marriott Bonvoy Amex cards are out and now new cardholders are eligible to get 100,000 bonus points. All they have to do to get the bonus points is spend $5000 with their new card within 90 days of getting it. The bonus is… Continue reading

The New Synchrony HOME Credit Card
The New Synchrony HOME Credit Card

Posted: February 12, 2019

Shopping for your home can get expensive but earning rewards can make it more affordable. In keeping with this theme, Synchrony is rolling out their newest credit card – the Synchrony HOME Credit Card. With this card, people earn 2% cash… Continue reading

Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com and more up to the quarterly maximum, each time you activate.
For Excellent, Good Credit
INTRO OFFER: Discover will match ALL the Miles you've earned at the end of your first year, automatically. For example, if you earn 30,000 Miles, you get 60,000 Miles. That's $600 towards travel!
For Excellent, Good Credit
Earn unlimited 1.5% cash back on every purchase, every day
For Average, Fair, Limited Credit
You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!