If you are a credit card customer of JP Morgan Chase Bank, the bank is trying to make it harder for you to take them to court. The bank notified customers in May that their card holder agreement was changing and their right to sue the bank over grivences was going away to be replaced by binding arbitration. This accroding to an article from CNBC.

There is an out for customers that wish to retain that right but you'll need to act quickly. The CNBC article says:

If you wish to opt out of the new Chase agreement, you can send a letter to the bank explaining that you, “reject this agreement to arbitrate.” Your notice needs to be mailed to Chase at P.O. Box 15298, Wilmington, DE 19850-5298.

As a Chase Credit Card holder I asked myself how does this really, truly, impact me? First, arbitration cases can only be brought by an individual against the bank. A group of unhappy customers can't band together for group arbitration like they could in a class action lawsuit. Secondly, arbitration tends to benefit the company vs. the consumer. Only nine percent of people who go to arbitration actually get relief. This according to CNBC.

In my mind it's kind of like the house having the edge when you gambling. Then again, in my mind dealing with banks, especially big huge banks like Chase, is somewhat like going gambling. The house has the edge, their going to get all the benefits, and maybe like a comped hotel stay a casino may give you... you'll get a little cash back, or some kind of points for using their card.

The takeaway from the CNBC article is this: If you're a Chase customer, take the time and write them a note opting out of arbitration. Protect your rights. Even if truthfully, none of us will probably sue our credit card company.