Chase Overlimit Fee Class Action Settlement

If you’ve ever had a Chase credit card and were charged an overlimit fee following a credit line decrease at any time in the past four years, you may be eligible to receive up to $25 from a proposed class action lawsuit settlement.

The Chase overlimit fee class action lawsuit accuses Chase Bank USA, N.A. of breaching its cardmember agreements by imposing overlimit fees on certain credit card accounts within 31 days after their credit line was decreased.

If you have or have had a Chase credit card account and were assessed an overlimit fee on a billing statement generated within 31 days following a credit line decrease from September 2, 2006 through August 2, 2010, you’re considered a member of the Chase overlimit fee settlement class and can file a claim for a cash award. Certain people may be excluded from the settlement class, including those who have paid off their Chase credit accounts or had late payments, so check out the Class Action Settlement Notice to make sure you’re not excluded from making a claim.

If the Chase overlimit fee class action settlement is approved at the Final Fairness Hearing on November 1, 2010, the settlement will provide the following benefits.

$25 Automatic Award: Class members whose Chase credit card accounts were assessed an overlimit fee on or after December 1, 2007 on a billing statement generated 1 to 10 days following a credit line decrease will receive an Automatic Award of $25. No claim form is necessary.

$10 Automatic Award: Class members whose Chase credit card accounts were assessed an overlimit fee on or after December 1, 2007 on a billing statement generated 11 to 31 days following a credit line decrease will receive an Automatic Award of $10. No claim form is necessary.

In addition to making Automatic Awards, Chase will create a settlement fund of $260,000 to pay Settlement Fund Awards to class members who submit a valid claim form if they believe they did not receive adequate notice of the credit line decrease to avoid being penalized with an overlimit fee.

$15 Additional Award: If you were charged an overlimit fee on a Chase credit card account on or after December 1, 2007 on a billing statement generated 11 to 31 days following a credit line decrease, you may be able to receive up to $15 (in addition to the $10 Automatic Award described above) if you submit a valid and timely claim form.

$25 Additional Award: If you were charged an overlimit fee on a Chase credit card account between September 2, 1006 and November 30, 2007 on a billing statement generated 1 to 31 days following a credit line decrease, you may be able to receive up to $25 if you submit a valid and timely claim form.

In order to claim your share of money from the Chase credit card class action lawsuit settlement, you must submit a valid claim form postmarked no later than November 22, 2010. Claim forms can be downloaded at www.noticeclass.com/crowleysettlement or can be mailed to you by calling 888-878-1991. The address to mail in your Chase settlement claim form is:

Crowley Settlement Administrator

P.O. Box 12723

Birmingham, AL 35202-2723

For more information on how to file a valid claim for the Chase Overlimit Fee Class Action Lawsuit Settlement, read the Settlement Notice here.