Shub & Johns launches an investigation into a few big credit card companies such as Amex, Bank of America, and Chase after the companies reportedly updated their terms relating to credit card points and benefits, potentially affecting the value of these benefits for consumers.

The Consumer Financial Protection Bureau or CFPB have already issued a warning to these companies for the potential violation of the law the companies are engaging in. Namely, companies like American Express could be obscuring the terms and conditions for earning and/or retaining rewards points. These term changes come about as a result of rising inflation over the last few years, leading these credit card companies to quietly reduce the value of cardholders’ well-earned rewards points, and in some cases even change how long these points remain valid.

The reduction in value of rewards points, along with these companies allegedly obscuring the terms for retaining, earning, and spending rewards points, is allowing these companies to advantage of unsuspecting consumers who now have a reduced value of benefits that they may have earned across the years.

Are you a Chase, American Express, or Bank of America cardholder? Have you noticed the reduction of your rewards points as a result of these changes by the credit card companies? Let us know! Fill out the attached form and join the Shub & Johns investigation today!