I Finally Got the $250 Chase Promised Me

Sometimes getting a bank or credit card issuer to honor a promise is like pulling teeth (Image by David Mark from Pixabay)

I’m not without fault. Here me out.

In November, I heard discussions on social media about people receiving retention offers on various credit cards issued by JP Morgan Chase. (note: generally, a retention offer is an offer of some incentive by a credit card company to persuade a cardholder not to cancel a card. It might be a statement credit, a waiver or reduction of an annual fee, or bonus points or miles).

Naturally, I followed suit. I called Chase about my Chase Sapphire Reserve card. Hello, I said, I love this card in normal times, but I’m having second thoughts about keeping it given the fact that I haven’t been traveling this year due to the pandemic  . . . . So I’m not sure I can justify the substantial annual fee that this card carries at the moment.

And just like that, the representative offered a $250 statement credit, which I accepted on the spot without hesitation. Dave also has the credit card. Hearing of my favorable experience, he called Chase too. He was offered, and accepted, a $150 statement credit.

Normally, I keep a notebook in the side drawer of my desk at work where I write down the details of such a phone call. But, I’m working remotely from home, and, if I did write down the details on a post-it or envelope, god only knows where I put it.

Within a day or two, Dave announced that the $150 statement credit appeared on his account. But for me, the promised $250 was nowhere to be found. I checked a few zillion times over the next few days. Nada. The phone calls began. First, I was told to wait a statement or more for the credit to appear. Then, I asked again, and I was told I was not eligible for a statement credit.

Each call was like standing before an inquisition: Who told you that? When were you told that? What proof do you have? I hate when this happens – it’s as if no one believes me and I have to prove myself. Ugh.

I’m too stubborn to give up. The calls continued. One representative said she’d expedite the inquiry, the next said it would be researched. This was going nowhere, and I was frustrated. I narrowed down the exact dates to about 5 days in November when I must have had the call. I called again. I asked for a supervisor and demanded (nicely) that Chase locate my recorded calls for the dates in question and listen to them. The supervisor said if the tape confirms that we made the offer, then we’ll honor it – adding a little jab – even if you weren’t entitled to it.

Lo and behold, a few days later, $250 credit appeared in my account. I also received a letter to that effect. Hallelujah!

There are certainly some lessons to be learned here. First, it never hurts to make retention calls. Second, I was a Dodo – if only I had kept good notes of the phone call in the first place, this painful process could have been avoided. Third, perseverance pays off.

Have a beautiful day!