Chase has made some changes to their unofficial annual fee refund policy, previously customers were given anywhere from 60 days to 180 days after their annual fee was billed to cancel the card and get that fee refunded. According to multiple readers and comments on this /r/churning post that has changed effective immediately and cardholders will have a period of 30 days to cancel their card and request an annual fee refund after it has been billed.
American Express made a similar change recently, but they did give cardholders advance notice of the change. Personally I don’t have any huge issues with this change from Chase, it was never an official (or maybe advertised is a better word) policy they had so I don’t think advanced notice is necessarily required – although it would have been nice to see offered. You can read the annual fee refund rules for all card issuers by going here.
People have been abusing these refund rules for awhile and it’s obviously hit a critical mass for first American Express and now Chase. I think 30 days is more than enough time to give people (especially people that have just forgotten to cancel). Let me know your thoughts about these changes in the comments below.
