Chase Stops Charging $120 Annual Fee For Balance Transfer Customers

<!––>We wrote in January about a new $10 per month fee that Chase was arbitrarily imposing on customers who had transferred balances to their Chase cards. Well after having a little chat with New York Attorney General Andrew Cuomo, Chase announced that they’ll stop charging this ridiculous fee and they’ll be refunding customers’ previous payments.

According to Cuomo’s office, Chase will be refunding $4.4 million in fees to their customers, but according the Chase, they’ll be refunding $3.3 million. Chase also says they’re relenting not because of the fear that Andrew Cuomo strikes into the heart of Corporate America, but because of customer feedback.

We can’t recall the last time Chase did something good in response to customer feedback, so we’ll just say, Thanks, Andrew Cuomo!