Forced Arbitration is a bad thing for consumers. Many of the products and services we buy have a “forced arbitration” provision, which means that if you have a dispute with the corporation you paid for the service or product, you must submit the dispute to arbitration, instead of filing a lawsuit in court.
Arbitration is bad because it is expensive for consumers, the person making the decision is often more closely associated with the corporation you are suing than you might suspect, and your case is not decided by a judge or a jury of your peers. Arbitration overwhelmingly favors corporations – which is why they include forced arbitration agreements as often as they possibly can. Most consumers don’t know they’ve “agreed” to arbitration simply by purchasing a product or service.
Fortunately, if you have a Chase Sapphire Credit Card, you CAN opt out of forced arbitration – but you must do so in writing and you must act quickly. The deadline is August 22, 2019.
To reject the Chase Sapphire forced arbitration agreement, you must send a letter stating that you “reject the Arbitration Agreement” to the following address:
Chase Card Services
P.O. Box 15298
Wilmington, DE 19850-5298
You must include the following information:
- Name of the account holder
- Account number
- Account holder’s address
- Account holder’s personal signature
If you have more than one account, you should send a separate letter for each account. AND make sure you keep a copy of your signed letter!
Protect yourself today by opting out of Chase’s forced arbitration agreement so that you can have your day in court if you have a dispute with Chase in the future.