3/28/2024 Update: I had filed a CFPB complaint and here I finally got a response. Fargo declined by request to make points available or send a cash equivalent check.
But as you can see in the image below they gave me $300 as a “customer satisfaction credit”.
I had about $300 worth of cash/points rewards sitting in a Wells Fargo business credit card that had been idle for a while. I did not use the account so Wells Fargo had “expired” the card account and chose “now to renew” it. The $300 worth of rewards was forfeited.
I have always been the one to say to periodically cash out points, so I was a little surprised to get caught by this, especially for account inactivity. I opened this credit card in the first half of 2022 and it was axed in late 2023. I don’t think I used the card after meeting the spending requirement to earn the signup bonus.
Closing Thoughts
Be better at spreadsheeting.
2 comments
In New York, there is a law against confiscating or forfeiting bank rewards points. Have a friend with NY address? Symbolically rent his broom closet for a dollar, change your billing address to his (many banks will allow you to select a different statement address, if you care for paper statements) and voila, they must comply!
haha, thanks Eugenev. I got someone to look at my account from the executive office. So we will see what they do.