Legal analysis: China Merchants Bank 120 yuan's value-added services can apply for a refund, and users need to apply for canceling the value-added services of credit cards if they want to apply for a refund 120 yuan. Users can directly dial the official customer service hotline of China Merchants Bank Credit Card, enter the personal account opening certificate number, select "9" according to the voice prompt, enter the manual service, and then apply to the customer service for unsubscribing from the credit card value-added service, and the fee will be directly returned to the user account.

Legal basis: Article 502 of the Civil Code of People's Republic of China (PRC), a contract established according to law shall come into effect upon its establishment, unless otherwise stipulated by law or agreed by the parties.