City National Bank Now Issuing Refunds for Annual Fees
City National Bank announced a big devaluation to its Crystal Visa Infinite Card back on November 1st. The card instantly went from the best in the market, to barely worth the annual fee. You can read more about that here. The are also adding fees for authorized users.
The news came right after many people paid their $400 annual fee, expecting to take advantage of card’s perks and benefits for one more year. But there’s one problem. CNB never refunds annual fees once they post. I guess with the big devaluation of their card they must have received plenty of complaints. And now it looks like they have changed course, and are willing to give out refunds. There’s a few reports of this happening on reddit, even after more than 30 days of the annual fee posting on the account.
To receive a refund on the annual fee, you need to reach out to your banker and ask for it. It’s not a guarantee, but it is definitely worth a try if you have recently paid the annual fee and want to close the card.
Many people paid their annual fees in September and October and then learned that the perks on the card were being cut back. If you have the card and recently paid the fee is worth reaching out and asking for a refund.
Let me know if it works for you.