We wrote a few months ago about consumers getting refunds from credit card companies thanks to a government crackdown on deceptive marketing. CNN Money has the latest details…
Refunds should be arriving soon — if they haven’t come already. Most consumers can expect to receive payments from all three issuers [Capital One, American Express, and Discover] by the end of March.
Customers aren’t required to take any action. Instead, current cardholders will automatically receive a credit on their account, and former customers will receive checks in the mail or have any outstanding balance reduced by the refunded amount.
American Express started in October, Capital One will dish out refunds in “the first quarter,” and Discover plans to do it between New Year’s and Valentine’s Day. Depending on the company and the product, customers may be getting up to $300 back. Check out the story for more details.