Credit card -- Advertising and marketing, including promotional offers -- Complaint #8898708
Chase Accused of Misleading Advertising on 'Free First Transaction' Offer
Complaint Overview
Complaint ID: 8898708
Company: Jpmorgan Chase & Co.
Product: Credit card
Sub-Product: General-purpose credit card or charge card
Issue: Advertising and marketing, including promotional offers
Sub-Issue: Confusing or misleading advertising about the credit card
State: Illinois
ZIP Code: 60634
Date Received: 2024-04-30T12:00:00-05:00
Date Sent to Company: 2024-04-30T12:00:00-05:00
Company Response: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Risk Assessment
Risk Level: medium
The consumer was charged a fee despite an advertisement stating the first transaction was free, and the bank's refusal to credit the fee suggests a pattern of potentially deceptive marketing practices.
Consumer Sentiment: negative
Topics: Credit card advertising, Deceptive practices, Fees
AI Analysis
CFPB complaint 8898708 was filed against JPMORGAN CHASE & CO. regarding Credit card (General-purpose credit card or charge card), specifically about "Advertising and marketing, including promotional offers". A Chase credit card customer was misled by an advertisement for a new program, which promised a free first transaction but instead charged a fee, and was subsequently unable to get the fee credited. The complaint was received on April 30, 2024 from Illinois. The company responded with "Closed with monetary relief".
Consumer Narrative
Hello, When l logged into my chase app l saw an offer that stated a new program " XXXX XXXX XXXX '' and that the first transaction was free. I walked thru the prompts for the bellow transaction. When l submitted, there was a fee. So first transaction is free was untrue. I called chase right after l signed up for the plan and they stated you can't cancel, but if l pay my statement balance, l shouldn't incurr any fees. I did just that and l checked my statement, and l incurred my first fee of XXXX and the plan is still showing up in full with the entire XXXX months outstanding. Basically, they always get you for the initial fee, even if you pay it off early. And they refuse to credit your account for this fee. If l had not clicked their false advertisement of fisrt transaction is free and paid my statement in full for this transaction, like l always do, l would not have paid XXXX on this transaction. I feel this to be a junk fee that the bank is getting creative on and it's false and misleading. I paid my statement in full in XX/XX/XXXX, and it won't come off of my statement until the next statement. I have better cards that pay XXXX % cash back, and l will use those. Description XXXX Status XXXX Remaining principal {$XXXX} Remaining payments XXXX Plan start date XX/XX/2024 Original principal {$XXXX} Total payments XXXX Monthly fee {$XXXX Monthly plan payment {$XXXXXXXX} This includes the monthly fee. " Once a XXXX Chase XXXX appears on your statement, you can pay it off early without any penalties by paying your full statement balance. If you want to pay it off before then, you can pay your current balance. If you pay off a plan early, you wont incur any future fees for that plan. ''
What You Should Do -- Consumer Action Plan
Always carefully read the terms and conditions of any promotional offer before enrolling, and be aware that advertised benefits may have hidden fees or restrictions.
Legal Context & Consumer Protection Laws
This case involves potential violations of consumer protection laws related to deceptive advertising and unfair or deceptive acts or practices (UDAP).
Regulatory Insight
Financial institutions must ensure their advertising is clear, accurate, and not misleading, especially regarding fees and promotional offers.
Resolution Likelihood
likely
State-Specific Consumer Protections
The complaint originated in Illinois, and the consumer's experience highlights potential issues with how credit card companies market and implement new programs nationwide.
Industry Comparison
Credit card companies frequently use promotional offers to attract new customers, but misleading advertising about these offers can lead to widespread consumer complaints.
Related Issues
Frequently Asked Questions
What is CFPB complaint 8898708 about?
CFPB complaint 8898708 involves Credit card (General-purpose credit card or charge card). The consumer reported an issue with "Advertising and marketing, including promotional offers", specifically "Confusing or misleading advertising about the credit card". This complaint was filed against JPMORGAN CHASE & CO. on April 30, 2024.
Which company is complaint 8898708 filed against?
Complaint 8898708 was filed against JPMORGAN CHASE & CO.. You can view all complaints against this company on their profile page at /company/jpmorgan-chase-co.
What was the company's response to complaint 8898708?
JPMORGAN CHASE & CO. responded with "Closed with monetary relief". The response was marked as timely by the CFPB.
When was complaint 8898708 filed?
Complaint 8898708 was received by the CFPB on April 30, 2024. It was sent to JPMORGAN CHASE & CO. on April 30, 2024.
What state was complaint 8898708 filed from?
Complaint 8898708 was filed from Illinois. You can view all complaints from this state at /state/IL.
Was the consumer satisfied with the resolution of complaint 8898708?
Dispute information is not available for complaint 8898708.
What product category is complaint 8898708 about?
Complaint 8898708 is categorized under "Credit card", specifically "General-purpose credit card or charge card". This is one of the product categories tracked by the CFPB.
How was complaint 8898708 submitted?
Complaint 8898708 was submitted via Web. The CFPB accepts complaints through web, phone, mail, email, fax, and referral channels.
What are the consumer's legal options for complaint 8898708?
This case involves potential violations of consumer protection laws related to deceptive advertising and unfair or deceptive acts or practices (UDAP). This relates to a Credit card complaint against JPMORGAN CHASE & CO. involving "Advertising and marketing, including promotional offers".
How likely is complaint 8898708 to be resolved?
Resolution likelihood: likely. The company's current response is "Closed with monetary relief". The company did respond in a timely manner, which is a positive indicator.
What does the risk level mean for complaint 8898708?
This complaint is rated as medium risk. The consumer was charged a fee despite an advertisement stating the first transaction was free, and the bank's refusal to credit the fee suggests a pattern of potentially deceptive marketing practices.
What regulatory actions apply to complaint 8898708?
Financial institutions must ensure their advertising is clear, accurate, and not misleading, especially regarding fees and promotional offers. The CFPB tracks complaints like this one to identify patterns of misconduct across the Credit card industry.
What should the consumer do about complaint 8898708?
Always carefully read the terms and conditions of any promotional offer before enrolling, and be aware that advertised benefits may have hidden fees or restrictions.
Are there state-specific protections for complaint 8898708?
The complaint originated in Illinois, and the consumer's experience highlights potential issues with how credit card companies market and implement new programs nationwide. This complaint was filed from Illinois.
How does complaint 8898708 compare to industry norms?
Credit card companies frequently use promotional offers to attract new customers, but misleading advertising about these offers can lead to widespread consumer complaints.
What specific regulations govern the advertising of credit card promotional offers to prevent misleading consumers?
Regulations like the Truth in Lending Act (TILA) and the Consumer Financial Protection Act (CFPA) require clear and accurate disclosures for credit card offers, including promotional terms and fees.
Under what circumstances can a consumer dispute a fee that was not clearly disclosed or was advertised as free?
Consumers can dispute fees by contacting their card issuer, filing a complaint with the CFPB, and potentially seeking legal counsel if the issuer does not resolve the issue.
Disclaimer
This analysis is AI-generated and does not constitute legal advice.