Chase Bank erases all credit card debt for Canadian customers

Kyle

Just being a fly in the ointment...
PREMO Member
Chase Bank, which is part of JPMorgan Chase & Co., closed all their credit card accounts in March 2018 and customers were expected to continue to pay their debt.

That changed on Friday when the company decided to forgive all outstanding balances on either of its two VISA cards as part of their exit following 13 years in the Canadian credit card market, according to the CBC.


Don't worry Americans.... You get to keep paying 29.99% interest to make up for the canadian losses! :jet:
 

Chris0nllyn

Well-Known Member
I'm curious why they're eliminating Canadian credit cards?
It's not all Chase cards, just Amazon Rewards Visa, Marriott Rewards Premier Visa, and Chase Gold (employees).

JPMorgan Chase got rid of the cards earlier this year and wiped out all the debt associated with them because it was cheaper to just forgive it all than to try and collect it. They are leaving the Canada market likely because Scotiabank bought out their credit card portfolio.
https://www.ctvnews.ca/business/scotiabank-buys-canada-credit-card-portfolio-from-jpmorgan-chase-includes-sears-1.2611519
 
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