Hello Charter One Bank has taken roughly 122,000 points that I had accumulated over the last few years with an estimated actual cash value of $976 if I opted for the debit gift cards. CharterOne Bank had decided that it was not in their best interest to continue to offer the Mega Rewards program and in Oct sent letters to their customers stating that they had till the end of January to utilize the points or lose them.
Unfortunately I was in Afghanistan till Dec and had never recieved the message. When I discovered the issue, 90 days after the dead line Charter One Bank refused to cash out my points and instead offered me 25$, Which in my opinion is an admission of sorts. After 15 years as a Charter One customer I feel as if I have been stabbed in the back and feel as if im there for charter ones sake, and not the other way around.
They keep telling me that these points dont have cash value, well If you can directly turn points into cash money, than I say they directly have value. Charter One has basically taken a accounting liability and magically turned it into an asset at their customers expense, all with out any effort to cash out the customers points and deposit them into the customers account.
I would like to know if charter one has an iron clad position and if not what would be the possibility of entering into a class action law suit as i'm sure that I'm not the only one effected. Thanks for looking!!
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